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SC to examine constitutional validity of Goa Cess on Fluid Milk (Control) Act, 2000 provisions

September 19, 2022 465 Views 0 comment Print

Goa State Co op Milk Producers Union Ltd. Vs State of Goa (Supreme Court of India) Being a dispute with respect to the constitutional validity of the relevant provisions of the Goa Cess on Fluid Milk (Control) Act, 2000, only on that ground alone and the issue is with respect to legislative competence, issue notice […]

Section 206AA cannot have overriding effect on DTAA

September 19, 2022 2184 Views 0 comment Print

CIT International Taxation Vs Air India Ltd. (Delhi High Court) Whether ITAT has erred in holding that the rate of deduction of tax in the case of a non-resident who does not have a PAN and whose case does not lie in the exceptions laid down in Sub-Section 7 of Section 206AA of the Act […]

Unregistered sale deed cannot be considered for claim under IBC on immovable property

September 19, 2022 1302 Views 0 comment Print

Sabita A. Biswas Vs Vinodkumar Pukhraj Ambavat (NCLAT Delhi) Appellant sought direction to Resolution Professional to accept the claim. Appellant has filed claim in Form-C along with the claim, Appellant has also filed photocopy of unregistered sale deed engrossed on Rs. 100/- and stamp paper allegedly executed before the Notary on 13.01.2015. The Adjudicating Authority […]

GST Evasion: Bail cancelled for violating bail conditions

September 19, 2022 1152 Views 0 comment Print

CGST Vs. Mohd. Sabahuddin (Patiala House Court) Considering that accused has admittedly not joined investigation pursuant to summons dated 19.04.2022 and 29.04.2022 and admittedly did not drop the Google pin location, therefore, has violated condition No.1 and 2 of bail order dated 17.02.2022 of Ld. Predecessor of this Court. Furthermore, since proper reasoning has been […]

Better utilize AI, data-analytics & other technologies to identify tax evasion

September 18, 2022 1389 Views 0 comment Print

We need to better utilize AI, data-analytics, IoT and other technologies to identify fraudulent practices, such as detection of tax evasion and better train officials on these aspects : Nirmala Sitharaman

Banking sector to make a big contribution to make India a developed nation

September 18, 2022 1116 Views 0 comment Print

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 […]

Net Direct Tax collections for FY 2022-23 have grown at 23%

September 18, 2022 2223 Views 0 comment Print

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 […]

Exemption from BCD & IGST with respect to import of cable laying vessel

September 18, 2022 1353 Views 0 comment Print

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.

CAAR allowed withdrawal of Application filed with wrong jurisdiction

September 18, 2022 612 Views 0 comment Print

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

In absence of corroborative evidence, parallel conduct in itself cannot be equated with collusion: CCI

September 18, 2022 450 Views 0 comment Print

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.

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