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Bidders’ Selection and Bid Rejection Not Abusive Under Section 4 of CCI Act

July 19, 2023 582 Views 0 comment Print

Read the full text of the judgment/order by the Competition Commission of India in the case of Ravinder Singh vs Dr. Janaki Jangpangi. The judgment analyzes the allegations of bid rejection and determines that it does not amount to abuse under Section 4 of the CCI Act.

SEBI Circular: Extending Trading Window Closure Period for Listed Companies

July 19, 2023 18921 Views 1 comment Print

Read about the extension of the trading window closure period for listed companies as per the SEBI Circular No. SEBI/HO/ISD/ISD-PoD-2/P/CIR/2023/124 dated July 19, 2023, and the phased implementation of the framework for restricting trading by Designated Persons (DPs) through freezing PAN at the security level.

Land Acquisition Act: ITAT Rules Enhanced Compensation Interest Non-Taxable

July 19, 2023 3408 Views 0 comment Print

In-depth analysis of the ITAT Delhi case, Nitin Kumar Vs ITO, determining that interest received on enhanced compensation under Section 28 of the Land Acquisition Act is not taxable.

Recommendation for appointment of liquidator other than IRP/RP

July 18, 2023 6090 Views 0 comment Print

Insolvency and Bankruptcy Board of India’s latest recommendation about appointing liquidators other than RP/IRP under Section 34(4)(h) of the IBC, 2016.

Non-Filing of Audit Report (Form 10B) Not an Impediment for Exemption Claims

July 18, 2023 12576 Views 0 comment Print

Detailed analysis of the ITAT Ahmedabad’s ruling in the Hari Gyan Pracharak Trust Vs DCIT case, highlighting the importance of procedural and substantive aspects of audit report filing.

ITAT Deletes Penalty under Section 272A(1)(d) for Technological Illiteracy and Third-Party Negligence

July 17, 2023 17967 Views 0 comment Print

Understand the landmark case of Maqsood Ali Vs ITO, where the Income Tax Appellate Tribunal (ITAT) in Delhi ruled against imposing a penalty under section 272A(1)(d) for non-compliance of statutory notices given reasonable cause.

No Penalty When Service Tax Paid with Interest Pre-Issuance of SCN

July 17, 2023 3489 Views 0 comment Print

Understand the pivotal judgment of CESTAT in the case between National Power Engineering Company and the Commissioner of CGST & Central Excise, where no penalty was imposed after entire service tax and interest were paid before the issuance of the Show Cause Notice.

Late fee under Section 234E of Income Tax Act not retrospective

July 17, 2023 1281 Views 0 comment Print

Delve into the recent ITAT Bangalore case of Balram Corporate Services Pvt Ltd Vs ITO, discussing the non-retrospective nature of late fee charges under Section 234E of the Income Tax Act.

Clarification on Charging of Interest for Wrong Availment of IGST Credit – CBIC Circular

July 17, 2023 34761 Views 0 comment Print

CBIC Circular No. 192/04/2023-GST provides clarification on charging interest for wrong availment of IGST credit and its reversal under section 50(3) of the CGST Act, 2017. The circular addresses the utilization of wrongly availed IGST credit for interest calculation and the exclusion of compensation cess credit.

DGFT Advance Authorisation Scheme: Duty-Free Import for Export

July 17, 2023 1146 Views 0 comment Print

Learn about the Directorate General of Foreign Trade’s (DGFT) Advance Authorisation Scheme, enabling duty-free import of inputs for export purposes. Explore the significant enhancements in the Advance Authorisation and Norms Fixation Workflow, simplifying the process and improving ease of doing business.

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