Section 12 of Income Tax Act, 1961
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Income Tax : ITAT Mumbai held that income from pharmacy and chemist division cannot be treated as business income from separate and independent...
Income Tax : ITAT Pune upholds exemption under Sections 11 and 12, ruling that technical errors in form submission don't justify denial for reg...
Custom Duty : Crimp pumps imported were classifiable under positive displacement pumps (CTI 8413 5010 / 8413 5090) and not as mounts and heads f...
Corporate Law : Bombay High Court held that mere delay in filing application for recall or review, not involving latches, acquiescence or estoppel...
Income Tax : Gospel India Ministries Gutkula Vs CIT (ITAT Nagpur) ITAT Nagpur held that rejection of application in Form 10AB for grant of regi...
Madras High Court held that the goods imported, even though exempted from basic customs duty, may still be subject to levy of additional duty under the respective enactments.
NCLT Chandigarh held that since resolution plan in respect of Nav Jyoti Agro Foods Private Limited meets requirement of section 30(2) of the Insolvency and Bankruptcy Code, 2016 the same stands approved as filed by the resolution professional.
CESTAT Chennai held that demand for IGST on ‘lithium-ion batteries’ at the rate of 18%, however, demand for interest set aside since section 3(12) of the Customs Tariff Act incorporated interest only with effect from 16.08.2024.
ITAT Delhi remanded the matter back to the file of AO to re-consider the activities of assessee trust vis-à-vis its coverage under charitable activities or General Public Utility.
Aggrieved by this decision, assessee appealed to Commissioner of Customs (Appeals), who ruled in its favor, restoring the original classification under CTH 85340000 and setting aside the penalty and confiscation order.
Delhi High Court held that application of funds by Indian Broadcasting Foundation in BARC doesn’t qualify as deployment was not intended to yield income/profit hence denial of exemption u/s. 11 and 12 of the Income Tax Act not justified.
ITAT Pune held that Association of Person (AOP) taxable at Normal Rates instead of Maximum Marginal Rate (MMR) as provisions of section 167B of the Income Tax Act are not applicable. Accordingly, appeal of assessee allowed.
While at the time of debonding, the value of raw material cleared had to be valued at the time of importation, and the rate of duty was the effective rate of duty leviable on the imported goods at the time of debonding.
The petitioner raised bills on respondent No.4 based on the works executed from time to time, TDS @ 2% on the total value of the bills were recovered by respondent No.4 for the value of works executed in the State of Telangana and Maharashtra.
On an application filed u/s. 9 of the Insolvency and Bankruptcy Code, 2016, the Corporate Debtor – Lavasa Corporation Limited was admitted to insolvency resolution process by order dated 30.08.2018.
