ONGC Ltd. Vs Commissioner of Central Excise & Service Tax (CESTAT Chennai) Transportation of effluents cannot be treated as transportation of ‚goods‛ and hence there cannot be any service tax liability under ‘Goods Transport Agency’ as defined in Section 65 (150b) of the Finance Act, 1994. This being so, the FULL TEXT OF THE CESTAT […]
Rahul Kheria Vs ITO (ITAT Kolkata) The commission claimed to have been paid to under section 133(6) to M/s Jessop and Co and we note that the said Jessop replied to the notice. The AO however doubted the reply by Jessop on the ground it was a reputed company so the logo in the letter-head […]
Objective of consultation paper on Review of Regulatory Framework for Debenture Trustees (DTs) is to seek comments/ views from public on proposals that are intended to strengthen regulatory framework for Debenture Trustees (DTs) as well as empower DTs to effectively discharge their responsibilities towards debenture holders of listed debt issues/proposed to be listed debt issues.
Competition Commission of India brings-out Policy Note on ‘Making Markets Work for Affordable Healthcare’ Over the nine years of enforcement of the Competition Act, 2002 (the Act), the Competition Commission of India (‘the Commission’) has received 52 cases pertaining to the pharmaceutical and healthcare sector. The Commission, while deciding on the cases, has observed that […]
Cabinet approves appointment of Adjudicating Authority and establishment of Appellate Tribunal under Prohibition of Benami Property Transactions Act, 1988
Soft food prices might have kept the lid on the RBI’s policy rates but it might be important to examine why the food basket’s price trends have been much weaker than what their usual seasonal patterns imply. This might help us grapple with some key questions: Will this weakness continue and offset pressure in other […]
Taxpayers tiling refund application on account of supplies made to SEZ unit/ SEZ Developer, with payment of tax, has now been provided with facility to upload Statement 4, at the time of filing Refund application.
In view of our another Order dated 3rdFebruary, 2018 passed in an Appeal No. 10/ICSI/2015 namely Benny Methew vs. ICSI, we have already held that this Authority does not have the power to review its own Orders either expressly or by necessary implication.
M/s Kribhco Shyam Fertilizers Ltd. Vs ITO (TDS) (ITAT Luknow) On general reading of provisions of section 197 of the Act, it authorizes the Assessing Officer to prescribe deduction of TDS at any lower rate provided the facts and circumstances justify such deduction. Clause (2) of section 197 of the Act further states that when […]
Where after setting off interest earned against the interest expenditure no further interest expense remains, then disallowance could not be made under section 14A.
