DGGI Gurugram, Haryana, has arrested Shri Ritesh Aggarwal, resident of Bahadurgarh, Haryana on charges of passing and availment of fake ITC while operating dummy, fake and non-existent firms and encashing this unduly availed input tax credit (ITC) through IGST refund mode by showing export of cigarettes.
Harminder Kaur Vs ITO (ITAT Delhi) In the instant case, the assessee has claimed deduction under section 54 of the Act against booking of flat before the due date of filing of return under section 139(4) of the Act. The Assessing Officer and the Learned CIT(A) has denied the deduction on two grounds. Firstly, the […]
ITAT rules in favor of Anilbhai Chunilal Bhayani, rejecting AO’s disallowance of transportation expenses. Assessee’s explanations and documents deemed sufficient.”
Mohit Bathla Vs CGST Division Panipat (Panipat District Court) This order shall dispose of an application for regular bail moved on behalf of the applicant-accused, named above. 2. Briefly, the case of the prosecution is that on 24.12.2020, a search operation at the premises of M/s S.B. Chemicals of applicant-accused Mohit Bathla was conducted by […]
High court directed directed State Government to take appropriate decision on the aspect of inclusion of online gambling and online betting, within the purview of the Kerala Gaming Act, 1960, within a period of two weeks from today.
Ministry of Corporate Affairs Incorporation of Companies in current fiscal increased 21% as compared to corresponding period in previous fiscal Posted On: 09 FEB 2021 5:56 PM by PIB Delhi The number of companies incorporated from April, 2020 till December, 2020 (COVID 19 period) in the Financial Year 2020-21 (till 31-12-2020) compared to corresponding period […]
Case No. AD-SSR-20/2020): Initiation of Sunset Review of Anti-Dumping Duty imposed on imports of ―Glazed/ Unglazed Porcelain/Vitrified tiles in polished or unpolished finish with less than 3% water absorption‖ originating in or exported from China PR
Hindustan Petroleum Corporation Ltd. Vs Banu Constructions (Madras High Court) FULL TEXT OF THE JUDGMENT/ORDER OF MADRAS HIGH COURT The argument on behalf of the appellant is short and sweet: that the first principles of arbitration law do not permit an unreasoned order to be justified by supplementing reasons therefor upon looking into the evidence or […]
Torque Pharmaceuticals Pvt. Ltd. Vs Union of India And 5 Others (Allahabad High Court) It is pertinent to mention that dealers in the State of Uttar Pradesh falling under the CGST Act/ U.P. GST Act and aggrieved with the orders of first appellate authority under Section 107, have been left remediless inasmuch as Appellate Tribunal […]
As per the current provisions of Section 45(4), the profits or gains arising from the transfer of a capital asset upon its distribution on dissolution or otherwise of the firm or body of individual (BOI) or association of persons (AOP) is chargeable to tax as ‘capital gains’ in the hands of the firm /BOI /AOP in the year in which such transfer takes place.
