Explore the Patna High Court decision granting provisional bail to Rahul Yadav in an Excise Case involving illicit liquor. Case details, analysis, and conditions for bail.
On approval of application for surrender of Broker Dealer’s registration by IFSCA, the Stock Exchange shall release Security Deposit of the Broker Dealer (engaged in trading on behalf of clients) after twelve months from the date of approval of surrender application by IFSCA.
Explore the ITAT Chandigarh ruling in Classic Binding Industries vs. DCIT case. Victory for the assessee on 80-IC deduction for exchange rate fluctuation and substantial expansion.
The difference between the carrying value of such SRs and the valuation arrived at as on the next financial reporting date after the date of issuance of MD-TLE, in terms of clause 77 of the MD-TLE, may be provided over a five-year period starting with the financial year ending March 31, 2022 – i.e. from FY2021-22 till FY2025-26.
Explore the ITAT Bangalore ruling in ACIT vs. Davangere District Central Co-operative Bank Ltd regarding the deletion of interest addition on non-performing assets (NPA).
ITAT held that if the amounts advanced are for business transactions between the parties, such payment would not fall within the deeming dividend under Section 2(22)(e) of the Act.
Explore the ITAT Chennai resolution in the SDS Ramcides Crop Science case regarding the disallowed depreciation claim. Learn how the tribunal rectified the misinterpretation and allowed the rightful depreciation.
Explore the ITAT Mumbai decision in Swati Jignesh Jain vs. ITO regarding the imposition of penalty u/s. 271(1)(b). Learn how the AO deemed condonation of the assessee absence influenced the verdict.
ITAT held that excise duty subsidy and interest subsidies given in pursuant of new industrial policy were held to be capital receipts.
The undisputed position that emerges is that the assessee has received short-payment against invoices from various transport undertakings. The same is evident from the ledger extract furnished by the assessee. Undisputedly, these undertakings are the customer of the assessee and the shortfall of amount so received by the assessee has been claimed as bad-debts / discounts.
