Delhi ITAT dismisses appeal in Tekchand Vs ITO case, stating that penalty proceedings cannot be contested unless a formal order is issued. Read the complete analysis here.
Reserve Bank of India has issued a notification announcing the inclusion of NongHyup Bank in the Second Schedule of the RBI Act, 1934. All banks are advised regarding this update.
Recent judgment reduces penalty for M/s. Vena Energy Renewables Resources Pvt Ltd’s delay in filing e-Form INC-20A, highlighting the MCA’s evolving compliance landscape.
Ministry of Finance amends rule 11UAC of Income-tax Rules 1962, specifically addressing the relocation of funds and movable property vide Notification No. 51/2023-Income Tax | Dated: 18th July, 2023. Under the Income-tax (Thirteenth Amendment) Rules 2023, a new sub-rule has been inserted in rule 11UAC. This sub-rule pertains to movable property, such as shares or […]
The Central Board of Indirect Taxes and Customs in India has received concerns about the suspension of Customs Broker licenses, even when it may not be warranted. This practice can have disruptive consequences, particularly for small enterprises. Regulation 16 of the CBLR, 2018 provides the Commissioner of Customs with the power to suspend licenses in […]
CESTAT Kolkata judgment, where Micky Metals Limited successfully challenged a claim of clandestine removal based solely on discrepancies in audit report and ER-1 return figures. Understand the implications and insights from the case ruling.
ITAT Ahmedabad rules that voluntary contributions received towards a trust’s corpus by an unregistered trust under Section 12A are capital receipts and therefore, not taxable. Explore more about this landmark decision.
Institute of Cost Accountants of India has officially constituted the Greater Noida Chapter, covering the area of Greater Noida in Uttar Pradesh.
Detailed review and implications of CESTAT Ahmedabads judgment in the case of West Coast Pharmaceutical Works Ltd Vs C.C.E.-Ahmedabad.
Explore the landmark CESTAT Ahmedabad order on whether service tax is applicable to software activation charges under Business Auxiliary Service in the case of Avaya Global Connect Vs Commissioner of Central Excise & ST