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CENVAT Credit of Insurance & consultancy services related to manufacturing allowed

May 31, 2023 525 Views 0 comment Print

CESTAT allows CENVAT Credit to a sugar and molasses manufacturer for insurance and consultancy services

CESTAT allows deduction on account of Octroi and Additional Sales Tax

May 31, 2023 423 Views 0 comment Print

In a significant ruling, CESTAT Chandigarh affirms deductions for Octroi and Additional Sales Tax in Fresenius Kabi Oncology case, emphasizing clarity in show cause notices.

GST on Education Services for Commercial Pilots’ License Extension Training

May 31, 2023 4170 Views 0 comment Print

Understand the recent AAR ruling’s impact on GST for education and training services provided to commercial pilots seeking ATR extension. Dive into the detailed analysis of qualification recognition and its consequences.

Jharkhand HC Allows Revocation of Cancelled GST Registration by June 30, 2023

May 31, 2023 2991 Views 0 comment Print

Jharkhand HC held that cancelled GST registration can be revoked until June 30, 2023, as per the notification issued by CBIC.

Guwahati HC Sets aside Order Rejecting Zimma of Seized Areca Nuts

May 31, 2023 2610 Views 0 comment Print

Guwahati High Court reverses rejection of zimma for seized areca nuts in Anowar Hussain’s case. Petitioner allowed to file a new petition with strict conditions.

LODR Regulations Override Suggestions by ICSI on Related Party Transactions

May 31, 2023 13746 Views 0 comment Print

LODR Regulations take precedence over suggestions by the Institute of Company Secretaries of India (ICSI) and other authorities regarding related party transactions (RPTs).

ITAT Deletes Addition of Cash Deposit during Demonetization as Source submitted

May 30, 2023 585 Views 0 comment Print

ITAT Kolkata ruled in Mahendra Kumar Parakh vs. ITO that cash deposit during demonetization was from past savings, directing AO to delete the addition of Rs. 2,50,000.

MCA impose penalty on Auditors for Failure in Disclosures in Audit Report

May 29, 2023 29028 Views 0 comment Print

Ministry of Corporate Affairs (MCA) in India has issued an adjudication order imposing penalties on auditors for their failure to comply with the provisions of Section 143 of the Companies Act, 2013. The penalties are imposed on the auditors of Strong Infracon Private Limited for non-disclosure of various key financial information in the company’s audit reports.

CIT(A) cannot change section under which AO made addition during assessment

May 26, 2023 5082 Views 0 comment Print

Delve into the intricacies of the case Smt. Sekar Jayalakshmi Vs ITO (ITAT Chennai), analyzing the discrepancy between Section 68 and Section 69A of the Income Tax Act.

DGFT amends Interest Equalisation Scheme Cap Subvention Amount

May 25, 2023 2682 Views 0 comment Print

Government issued a trade notice announcing an amendment to the Interest Equalisation Scheme (IES). The IES has been extended until March 31, 2024, as per the notification from the Reserve Bank of India. The amendment, which is effective immediately, introduces a cap of Rs. 10 crore per Importer Exporter Code (IEC) on the annual net […]

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