Introduction: On August 14, 2023, the Reserve Bank of India (RBI) unveiled plans to initiate a pilot project for a Public Tech Platform for Frictionless Credit. This initiative is in alignment with the Statement on Developmental and Regulatory Policies released on August 10, 2023. The platform is being developed by the Reserve Bank Innovation Hub […]
Amendment to No. 04/2022-Central Excise raises Special Additional Excise Duty on diesel and ATF exports to Rs. 5.50 per litre from August 15, 2023.
India’s amendment to No. 18/2022-Central Excise: A special hike in excise duty on crude petroleum to Rs 7,100 per tonne and Rs 2/litre on jet fuel from Aug 15.
Analysis of Jagjeet Singh Parwana vs Commissioner of Central Excise case. Non-specific show-cause notice’s impact on Service Tax demand set aside by CESTAT Chandigarh.
Analysis of C.C. Ahmedabad vs Smaltochimia India Pvt Ltd case involving customs duty classification dispute for ‘Twin Vision Scanner’ and related equipment.
Bridgestone India vs. ACIT: ITAT Indore rules subsidies from Maharashtra and Madhya Pradesh Govt. are capital receipts, deleting additions in assessment.
Read the analysis of ITAT decision in the case of Rama Mepa Odedara Vs ITO. The appellant appealed against addition of cash deposits under section 69A of the Income Tax Act, 1961. The ITAT considered the source of deposits and concluded that only the profit element should be taxable.
ITAT clarifies: Section 80G recognition needs Trust’s 12AB registration. Unregistered trusts ineligible for 80G recognition.
Analysis of ITAT Ahmedabad’s decision in Mansha Textiles vs ITO case. ITAT allows interest deduction u/s 24(b) when income is receivable and approved.
The Anusandhan National Research Foundation Act, enacted by the Ministry of Law and Justice of India on 12th August 2023, serves as an ambitious piece of legislation aimed at advancing research, innovation, and entrepreneurship within the country. The Act represents a significant commitment by the Government of India to foster scientific advancement and technological innovation. […]
