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Bonus Share Issuance Not Subject to Section 56(2)(vii)(c): ITAT

September 30, 2023 324 Views 0 comment Print

ITAT Delhi rules on the taxability of bonus shares in the case of DCIT vs. Smt Aruna Chandhok. Detailed analysis of the decision and its implications.

Cenvat Credit Can Be Used for Excise Duty on Finished Goods or Indigenous Inputs

September 30, 2023 189 Views 0 comment Print

CESTAT Ahmedabad rules on the utilization of Cenvat credit for payment of excise duty by 100% EOU units during debonding. Detailed analysis and implications.

BSE Notice: Cyber Security Disclosure Format for Listed Companies

September 29, 2023 3102 Views 0 comment Print

Stay informed about BSE’s new cyber security disclosure format for listed companies. Learn how to report incidents and comply with SEBI regulations. Get the details here.

NFRA Imposes Penalty on Auditor of Sobha Ltd for Audit Misconduct

September 29, 2023 4569 Views 0 comment Print

Introduction: The National Financial Reporting Authority (NFRA), under the authority of the Government of India, has issued Order No. 58/2023 dated 29.09.2023, which pertains to the statutory audit of Sobha Ltd for the Financial Year (FY) 2017-18 and 2018-19. The order addresses lapses in the conduct of the audit and charges of professional misconduct against […]

No Penalty on Customs House Agent Not Directly Involved in Facilitating Illegal Imports

September 29, 2023 291 Views 0 comment Print

CESTAT Chennai’s ruling on penalty under Section 112(a) of the Customs Act for importing Chinese mobile phones. Analysis of K. Natarajan vs. Commissioner of Customs case.

Excise Duty Refund Cannot Be Withheld by mere appeal filing Without Higher Court Stay

September 29, 2023 426 Views 0 comment Print

Analysis of Indian Oil Corporation Ltd vs CCEST case where issue of excise duty refund and applicability of limitation under section 11B were discussed. Learn more.

No Service Tax Under BAS on Compression of Natural Gas Classified as Manufacturing

September 29, 2023 285 Views 0 comment Print

Discover CESTAT Ahmedabad’s ruling on service tax for compression of natural gas as manufacturing activity. Learn about the case and its implications.

Kerala HC Allows Instalment Payment of KVAT Dues Due to Financial Constraints

September 29, 2023 231 Views 0 comment Print

Read how Kerala High Court granted instalment payment for balance tax under KVAT Act due to financial incapacity in the Pyramid Architects case.

AO’s Lack of Independent Inquiry Invalidates Unexplained Investment addition

September 29, 2023 420 Views 0 comment Print

Analysis of ACIT Vs Karsan Bhai Khimabhai Patel case where AO’s lack of independent inquiry invalidated unexplained investment addition. Learn more about ruling.

Issue requiring detailed analysis cannot be decided by rectifying original order

September 29, 2023 2958 Views 0 comment Print

Rectification of order was not made only on apparent error but issue in rectification of order was mixed question of law and fact that on which date service tax is leviable even Cenvat credit issue also involve a detailed scrutiny.

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