Read the latest circular from the Insurance Regulatory and Development Authority of India (IRDAI) regarding insurance claims for floods in Himachal, Punjab, Haryana, and Delhi regions. Get insights on immediate service response, helpline activation, claims processing, and submission of information to IRDAI.
In the recent landmark decision, CESTAT Ahmedabad has allowed Cenvat Credit on sugar cess paid as CVD on raw sugar imports, favoring Renuka Sugars Limited. This ruling, echoing several previous judgements, clarifies the position of cess as excise duty.
Read an in-depth analysis of the Ishoo Narang Vs ACIT (ITAT Hyderabad) case. The ITAT upheld a penalty levied due to non-compliance with a notice under section 271 of the Income Tax Act.
Examine the Calcutta High Courts ruling in Usha Martin Limited Vs Deputy Commissioner of State Tax, highlighting how the court adjudicated on matters related to delayed appeals, e-Way Bill expiration, and tax levies.
In a significant ruling, ITAT Delhi sets aside the exparte order against Maha Singh, allowing a fresh evaluation of unexplained cash deposits following due principles of natural justice.
Review the details and consequences of the ITAT Ahmedabad’s ruling in Jetalpur Seva Sahkari Mandali Limited vs DCIT that income from commercial activity cannot be claimed as a deduction under Section 80P of the Income Tax Act.
Explore ITAT Chennai’s recent ruling in MRS Jewellery Vs DCIT, where they partly upheld the AO’s assessment of excess stock, creating a significant impact on the taxation of jewellery businesses.
Comprehensive analysis of the Punjab and Haryana High Court ruling in favor of Jindal Drugs Ltd., discussing the precedent-setting case related to the advance authorization scheme and customs duties.
The tribunal examined previous precedents such as The Vainganga Nagari Sahakari Pat Sanstha Ltd. Vs. ITO, and found the deduction on interest income received from nominal members has been allowed in these cases. Furthermore, the tribunal took into account that the Kerala Act and Maharashtra Act consider ‘Nominal Members’ within the ambit of ‘Members’, thereby making such interest income eligible for deduction u/s 80P(2)(a)(i).
In a tax dispute involving Metro Engineers, the CESTAT Ahmedabad has ordered a remand for reevaluation of service tax demands. The case highlights issues of differential service tax on various services and the potential misuse of penalty provisions.
