Insights into the CESTAT Bangalore’s decision to dismiss an appeal by Chakiat Agencies Pvt Ltd, due to the issuance of Discharge Certificates under the SVLDRS.
Exploring recent decision of ITAT Mumbai in Rasik Nemchand Pethad Vs DCIT where it was determined that Section 271B penalty doesn’t apply when there’s reasonable cause for failure to comply with provisions.
Learn about the significant ruling of ITAT Ahmedabad in the case of Ankit Ashok Savla Vs ITO regarding the non-disallowance of interest expenses under Section 57 of the Income Tax Act.
Analyzing the Punjab and Haryana High Court’s decision to grant bail to Amrinder Singh in a tax evasion case, considering that the co-accused had already been granted bail.
The recent Orissa High Court ruling in Laxman Barik Vs Joint Commissioner of State Tax case, where it stayed GST demand and condoned delay due to absence of GST Tribunal, is a significant legal precedent in GST law interpretation.
Learn about SOP for processing GST registration applications at Seva Kendra by Trade & Taxes Department in Delhi in 2023.
Read the RBI circular dated June 23, 2023, regarding the status of MIFOR as a significant benchmark. The circular highlights the cessation of MIFOR publication after June 30, 2023, and provides the updated list of significant benchmarks administered by FBIL.
DGFT issued a public notice, Public Notice No. 19/2023-DGFT, announcing amendments to Category 5B of the Appendix 3 (SCOMET List) of the Handbook of Procedures 2023. The amendments introduce a new procedure for granting General Authorization for Export of Drones (GAED) for unmanned aerial vehicles, including drones and remotely piloted air vehicles. This notice outlines the policy, eligibility criteria, application process, and post-shipment requirements for exporters. Read more for a detailed analysis of the amendments and their implications.
The amendments brought about by Notification No. 45/2023 – Income-Tax (Income-tax (Eleventh Amendment) Rules, 2023) encompass multiple provisions and rules within the Income-tax Act, 1961. The notification details changes to rule 2C, rule 11AA and rule 17A of Income-tax Rules, 1962, under different sections such as section 10, section 12A, section 80G, and more. Notification […]
ITAT Delhi nullifies Section 271B penalty on Parag Jain, asserting that only difference in non-delivery derivative transactions should be taken into account when determining turnover for a tax audit.
