Learn about the provisions of section 123 of the Finance Act 2021 and the amendment of section 16 of CGST Act 2017. Effective date: October 1, 2023.
Learn about SEBI Circular 2023 introducing Online Dispute Resolution (ODR) in the Indian Securities Market. Understand the process, benefits, and roles of MIIs and ODR Institutions.
Stay informed about the latest amendment to Central Excise Act 1944. Notification No. 25/2023-Central Excise increases Special Additional Excise Duty on Diesel exports to Rs. 1 per litre from August 1, 2023.
Orissa High Court has stayed the demand of GST in a case where the Second Appellate Tribunal has not been constituted. The petitioner challenges the 1st appellate order.
ITAT allowed internet expenses and labour charges as business expenses and further held that Section 115BBE not applicable to expenses adequately explained during assessment
CESTAT Mumbai upheld the quashing of customs duty liability on the import of a barge, Aqua Float 300′, citing irregular value addition of equipment on board. The appeal focused on whether equipment should be charged separately, but the tribunal rejected the claim.
ITAT Mumbai rules that penalty under section 271(1)(c) of the Income Tax Act is not leviable on estimated additions. The decision is based on the principle established in previous judgments.
Explore an analysis of ITAT’s ruling against Timely Commercial P. Ltd for its failure to explain large share premium received, upholding an addition.
CESTAT Ahmedabad upholds the addition of service tax on services provided to shipping lines, classifying them under the category of steamer agent as per Section 65(100) of the Finance Act.
ITAT Mumbai allows the claim of deduction u/s. 80JJAA for the assessment year 2020-21, as the taxpayer had filed the original return of income on time. The claim was initially denied due to an error in categorizing the revised return as an original return.
