SC held that IBC would prevail over Customs Act, and once moratorium is imposed in terms of sections 14 or 33(5) of Code, the customs authority only has a limited jurisdiction to assess/determine quantum of customs duty and other levies.
Section 194A provision provides that obligation cast under Section 194IA is qua each transferee and not qua aggregate consideration.
Liquor license fee paid by assessee who is not license holder cannot be treated as eligible expenses & not allowable
Currency was attempted to the exported and was brought within the limits of customs area contrary to the restrictions and prohibitions imposed by the Customs Act or any other law for time being in force, is liable for confiscation.
Activity of Chemist / Pharmacy is incidental or ancillary to dominant object or purpose for running a hospital & Tax Exemption allowable.
Ashim Kumar Mahanta Vs ITO (ITAT Kolkata) The undisputed fact is that in this case Rs.27,68,700/- has been found deposited in the joint account of assessee as well as his wife in the savings bank account of Axis Bank. When confronted by the AO after reopening the assessment, according to the assessee, this amount was […]
Discover why no penalty was imposed for failure to file Form DIN-3 in Rajasthan. Get insights into Companies Act, 2013 violation case, and registrar’s decision
No dispute about illicit transaction of smuggling of old bars. So Commissioner (A) has rightly upheld absolute confiscation of gold bars.
Mother of assessee is staying with her and hence benefit of CBDT Instruction No. 1916 should also be extended to the mother of assessee
ITAT held that intrinsic value of the shares on the basis of net assets divided by the total number of equity shares is most appropriate.
