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Import of Spares for Vessel Repair Eligible for Customs Duty Exemption

July 25, 2023 1311 Views 0 comment Print

The CESTAT Bangalore has ruled that the Centre for Marine Living Resources and Ecology (CMLRE) is eligible for customs duty exemption on the import of spares and other items for vessel repair.

Addition for Share Capital & Premium without Complete investigation & Application of mind: ITAT Directs Re-adjudication

July 25, 2023 273 Views 0 comment Print

In the case of Goldline Dealers Pvt Ltd vs. ITO, ITAT Kolkata directs re-adjudication due to incomplete investigation & application of mind on the issue of Addition for Share Capital & Premium. Read the full text of the ITAT order.

MCA Imposes Penalty on Signatories for AOC-4 Defect: AT&T Case

July 25, 2023 1488 Views 0 comment Print

MCA imposes penalty on signatories of AT&T Communication Services India Private Limited for defect in filing e-form AOC-4 XBRL.

National Nursing and Midwifery Commission Bill, 2023 introduced in Lok Sabha

July 24, 2023 951 Views 0 comment Print

Nurses, who comprise the greatest number of healthcare providers, are the backbone of health systems. A flexible and well-functioning legislative framework underlying nursing and midwifery education is essential for redefining the role and scope of nurses and for providing distinct recognition to midwives in the country.

CGST Lucknow Zone: Fake ITC Racket Busted, Rs.750 Crores Scam

July 24, 2023 1056 Views 0 comment Print

CGST Commissionerate Agra exposes a massive fake ITC racket involving Rs.750 Crores transactions and Rs.134 Crores ITC. One arrest made, investigation ongoing.

Only Profit Element of Bogus Purchases to be Added to Taxable Income: Bombay HC

July 23, 2023 6843 Views 0 comment Print

Bombay High Court’s landmark ruling confirms that only the profit element of bogus purchases can be added to taxable income, emphasizing the requirement for reconciliation of stock in cases of alleged accommodation entries.

Income Mismatch with Form 26AS: ITAT Directs Re-Adjudication

July 23, 2023 3675 Views 0 comment Print

ITAT Kolkata orders reassessment of Mohammed Meraj’s case due to the lack of substantiating evidence regarding a mismatch in Form 26AS and Profit & Loss Account in TDS deduction.

Membrane System of Imported Goods Eligible for Custom Duty Exemption

July 23, 2023 1113 Views 1 comment Print

The case between the Commissioner of Customs (Air) and RBR Knit Process Pvt Ltd, regarding the eligibility for custom duty exemption of imported membrane systems, concluded with a favorable verdict for the latter by CESTAT Chennai.

Fake invoices & ineligible ITC: Bail Application Rejected by Sessions Court

July 23, 2023 1368 Views 0 comment Print

The bail application of Rajnish Jain, accused in a GST intelligence case involving fake invoices and ineligible input tax credit, has been rejected by the Sessions Judge in Meerut. The judge cited the seriousness of the charges and the gravity of the offense as reasons for the rejection.

GST: Investigating Another Assessee’s Records Doesn’t Equate to Proceedings Against Petitioner

July 22, 2023 678 Views 0 comment Print

Court dismissed petitioner’s argument that a show cause notice was invalid due to parallel investigations, noting the investigations concerned a different individual.

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