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Multipurpose Empanelment Form 2023-24 hosted at https://meficai.org

September 17, 2024 33702 Views 3 comments Print

Get ready for MEF 2024-25! Learn how to register, check eligibility, and submit your Multipurpose Empanelment Form for audit firms. Important details here.

Election 2024: ICAI notifies important dates, No. of persons to be Elected, security deposit etc.

September 3, 2024 30429 Views 0 comment Print

 The Institute of Chartered Accountants of India (ICAI) has announced the key dates for the upcoming elections to its Council and Regional Councils. The last date for receiving nominations is September 25, 2024, by 6:00 PM. Scrutiny of nominations will occur from October 1 to October 10, 2024, in New Delhi, with the last date […]

Madras HC Ruling on Gold Smuggling Abetment & Violation of Natural Justice

November 30, 2023 405 Views 0 comment Print

Explore the Madras High Court’s judgment in the case of Vikas Sharma vs Additional Commissioner of Customs, addressing penalties on a Customs Officer for abetting gold smuggling. The court examines challenges related to the denial of mandated opportunities under Section 112(a)(i) of the Customs Act, emphasizing principles of natural justice. Read the full text for an in-depth analysis and the court’s directive on seeking statutory remedies.

HC Directs GST Department to Grant Registration for Lessor & Lessee Operating in Same Premises

November 30, 2023 918 Views 0 comment Print

GST Registration denial for Lessor and lessee running business in same premises: HC directs GST Dept to Grant GST Registration & directs petitioner-Company to demarcate the property 

Madras HC directs department to verify & Rectify Shipping Bill Error

November 30, 2023 357 Views 0 comment Print

Explore the Madras High Court’s judgment/order in K.G.Denim Ltd. vs. Commissioner of Customs, addressing an inadvertent error in 87 shipping bills. Learn about the court’s direction to inspect documents and the timeline set for resolution.

Interest on Delayed Service Tax Refund: Payable After 3 Months from Application Receipt

November 30, 2023 465 Views 0 comment Print

Champion Flavours vs Commissioner CGST: CESTAT Chandigarh rules on interest for delayed service tax refund under Section 11BB, citing legal precedents.

ITAT upholds additions which were based on sworn statements & reconciliation statements 

November 29, 2023 564 Views 0 comment Print

Explore the ITAT Chennai’s order in the case of Tulsian Refinery Pvt. Limited vs. DCIT for AY 2016-17 & 2017-18. Discover how the deletion of additions related to bogus interest expenditure was determined through sworn statements and reconciliation statements, and the impact of Hon’ble ITSC’s findings on KRPL. Read the full text of the order and gain insights into the assessment and appellate proceedings.

Rule 4(5)(b) of CENVAT Credit Rules allows credit for moulds & dies sent for production

November 29, 2023 261 Views 0 comment Print

In a landmark decision, CESTAT Mumbai rules in favor of Lear Automotive (India) Pvt Ltd, directing re-adjudication for the recovery of CENVAT credit related to epoxy moulds. Full text analysis included.

Department not provided details of computation of demand of duty: CESTAT directs re-adjudication

November 29, 2023 309 Views 0 comment Print

CESTAT Ahmedabad orders re-adjudication of a 6.7 Cr excise duty demand on Haryana Steet Glass Limited for sheet glass clearance to DTA due to lack of document analysis.

AO Cannot Determine Business Promotion Effectiveness – ITAT Allows expenses

November 29, 2023 561 Views 0 comment Print

Read the detailed analysis of DCIT vs. Agni Estates & Foundations Pvt. Ltd. (ITAT Chennai) case. ITAT upholds deletion of disallowance of sponsorship expenses and interest under Income Tax Act.

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