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Kerala HC Sets Aside Assessment Order Beyond 6-Year Limitation Period under KVAT Act

June 13, 2024 1044 Views 0 comment Print

Kerala HC rules on URC Construction’s case, addressing assessment order passed beyond 6-year KVAT Act limitation. Single Judge’s 25% deposit directive reversed.

Customs Act: Section 149 cannot be used to circumvent appellate process

June 13, 2024 1833 Views 0 comment Print

Understand the implications of amending a Bill of Entry under Section 149 of the Customs Act, 1962. Detailed analysis of Valeo India Pvt Ltd vs Commissioner of Customs case and its impact.

Financial Creditors’ can File Second Petition under Section 7 of IBC for CD’s Continued Default

June 13, 2024 924 Views 0 comment Print

Detailed analysis of Desh Bhushan Jain vs Abhay Kumar case before NCLAT Delhi. Second petition under Section 7 of IBC challenged. Full judgment and implications explored.

Madras HC Sets Conditions for GST Registration Restoration

June 13, 2024 1365 Views 0 comment Print

Vinayaga Enterprises challenges GST registration cancellation due to non-filing of GSTR. Madras High Court issues conditions for revocation. Full judgment included.

Assessee cannot be Penalized for Purchasers’ Failure to Record Transaction

June 11, 2024 1965 Views 0 comment Print

Delve into the detailed analysis of the ACIT Vs Dewas Soya Limited case by ITAT Indore. Explore the crux of arguments, legal aspects, and conclusions drawn from the order.

AO Cannot Uniformly Apply 40% Expense Benchmark to Agricultural Revenue

June 11, 2024 1266 Views 0 comment Print

Read the detailed analysis of Chaudhari Nanubhai Jeshingbhai (HUF) Vs DCIT case where the ITAT Ahmedabad ruled on reducing agricultural income based on expenditure claimed by the assessee.

ITAT deletes addition of interest based on principle of presumption regarding interest-free funds

June 11, 2024 1065 Views 0 comment Print

The case of Eknath Ramkrisnanrao Salve Vs. Income Tax Officer (ITAT Pune) revolves around three primary issues: the taxability of subsidy received, disallowance of interest on interest-free advances, and disallowance of agricultural income on an estimated basis.

Services rendered by subsidiary of foreign company to its holding is export services

June 11, 2024 1926 Views 0 comment Print

Delhi High Court orders refund of ₹1.83 Crores IGST to Xilinx India, rejecting the Commissioner’s claim. Detailed analysis of the judgment.

Kerala HC Directs NFAC to Decide Stay/condonation Application Within 2 Months

June 9, 2024 861 Views 0 comment Print

Centre for Management Development vs. Commissioner of Income-Tax (Exemptions): Kerala High Court orders NFAC to decide stay application within two months in delay in Income Tax Assessment Order.

TNVAT – Tax Department Can Summon Records Post Assessment: Madras HC

June 9, 2024 1134 Views 0 comment Print

The Madras High Court rules that the Commercial Tax Department can summon records even after assessment completion, addressing a dispute between V. R. Muthu & Bros and V.V.V. and Sons Edible Oils Limited.

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