The issue under consideration is whether seizure of the cash amount to the tune of Rs 66 lakhs by Senior Intelligence Officer at the time of Search Operation is justified in law?
The issue under consideration is whether the indexed cost of acquisition can be reduced for the purpose of computing book profits under Section 115JB of the Act?
Prasanna Kumar Bisoi Vs Union of India (Orissa High Court) In a recent ruling passed by Hon’ble Orissa high court, held that w.r.t. interest liability for delayed payment of GST under Section 50(1) of the CGST Act, 2017, is required to be paid on net cash tax liability in view of the decision taken by […]
The issue under consideration is whether the assessee being employee of Public Sector Undertaking (PSU) and Nationalised Banks treated as government employee for the purpose of exemption u/s (10AA)(i)?
The issue under consideration is whether the equalisation levy will be applicable in case of Mastercard Asia or not?
the petitioner is seeking provisional released for the goods seized by the customs officer due to mis-declaration of the cargo in order to circumvent the import restriction imposed by the extant Foreign Trade Policy.
The issue under consideration is whether the provision for warranty is allowable as deduction when the assessee has not made provision on a scientific basis?
Mindtree Ltd Vs. ACIT (Karnataka High Court) Thus, the Commissioner of Income Tax (Appeals) has recorded a categorical finding that assessee is engaged in the development of computer software, which is exported outside India. The aforesaid finding has not been set aside by the Tribunal. Therefore, in view of Explanation 2(iii) to Section 10B of […]
Rajive And Company Vs. Assistant Commissioner Special Circle (Kerala High Court) Petitioners will no doubt be entitled to seek copies of the documents seized from their premises, if and when they are confronted by the respondents with any notice or other proceeding, wherein reliance is placed on the said seized documents. I, therefore, make it […]
This office is conscious of the procedure required to be followed by it to recover and will initiate the recovery proceeding with issuance of show cause notice, working of interest calculation and further actions as per provision of law. There is no intention of this office to directly recover interest under Section 50 of the CGST / MGST Act, 2017.
