Banking sector has to make a big contribution to making India a developed nation by 2047: Union Finance Minister Smt. Nirmala Sitharaman at 75th AGM of Indian Banks’ Association Union Finance Minister exhorts banks to plan for next 25 years, embracing digital, modern technologies and seamless systems which talk to each other “Use technologies such […]
Gross Direct Tax collections for the Financial Year (FY) 2022-23 register a growth of 30%. Net Direct Tax collections for the FY 2022-23 have grown at 23%. Advance Tax collections for the FY 2022-23 stand at Rs. 2,95,308 crore as on 17.09.2022 which shows a growth of 17%. Refunds aggregating to Rs. 1,35,556 crore issued […]
Advance rulings on the applicability of Sr. No. 555 and 557C of the Customs Tariff Notification No. 50/2017, dated 30,06.2017 for import of cable laying vessel.
Applicant has informed that jurisdiction of this application is not Mumbai and this needs to be filed with Delhi Customs Authority for Advance Ruling and requested for permission to withdraw their application for advance rulings
There is no doubt that there did not appear to be any competitive bidding amongst the OPs, but such parallel conduct in itself cannot be equated with collusion so as to return a finding of bid rigging by the Commission in the absence of any plus factors or corroborative evidence, particularly when such benchmark was already available and known to all potential bidders.
Competition Commission is of prima-facie view that the allegations raised by the Informant are not substantiated by any evidence on record
S. Raheja Realty Pvt. Ltd. Vs Office of Income Tax Officer (Gujarat High Court) On perusal of the Explanation (1) of the Section 148, it is clear that that for the purpose of Section 148A, the information with the Assessing Officer which suggests that the income chargeable to tax has escaped assessment means any information […]
Touchstone Holdings Pvt. Ltd. Vs ITO (Delhi High Court) Delhi High Court allows reopening of AY 2013-14 (despite being beyond 6 years from 1st April 2021), basing on extension as per Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Act, 2020 (TOLA). The time limit for issuing notice under unamended Section 149 which […]
It is by now well settled that the validity and legality of an order has to be tested in terms of reasons assigned in the order itself. The distinction that is now sought to be drawn has been taken only at the stage of filing a reply and counter to the writ petition.
Jai Matadi Enterprises Vs Commissioner of State Tax (Bombay High Court) In this case ITC was blocked in case of 10 suppliers, by Invoking GST Rule 86A. Bombay High Court vide interim order directed GST Department to unblock the Input Tax Credit Account. FULL TEXT OF THE JUDGMENT/ORDER OF BOMBAY HIGH COURT 1.Ms. Vyas seeks […]
