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Understanding the Principle of Mutuality in Tax Law: Key Implications

Income Tax : Dive into the Principle of Mutuality, exploring its meaning, tax implications, and impact on cooperative societies. Discover case ...

August 5, 2023 11700 Views 0 comment Print

Cause of Action to Appeal to DRT continues at various stages under SARFAESI Act, 2002?

Fema / RBI : It is felt that enormous powers are conferred on Banks or Public Financial Institutions under SARFAESI Act, 2002 from the stage of...

January 15, 2011 2373 Views 0 comment Print

Collusion between Bank Officials and Builders – SARFAESI Act – a Case Study

Finance : I strongly believe that implementing the provisions of the SARFAESI Act, 2002 making a good balance between the object and the int...

December 19, 2010 3550 Views 0 comment Print

High court upheld the levy of higher rate of tax on superior kerosene oil (white kerosene oil)

Goods and Services Tax : Levy of sales tax on a higher percentage on ‘superior kerosene oil' (SKO) (also called white kerosene oil) and also levy of resa...

December 30, 2009 1084 Views 0 comment Print

Valuation of Perquisites other then accommodation, motor car and ESOP for financial year 2009-2010

Income Tax : For the sake of convenience, the attached tables summarises the valuation rules for all perquisites prescribed in the new rule 3 e...

December 22, 2009 6208 Views 1 comment Print


Latest News


Income tax department withdrawn the approval granted under Section 17(2) to Hospital in Chandigarh

Income Tax : A dozen private nursing homes and hospitals today lost their approval granted under Section 17(2) of the Income Tax Act on the bas...

January 13, 2010 27153 Views 13 comments Print


Latest Notifications


Revised rules for valuation of perquisites for F.Y. 2009-10 & amp; onwards

Income Tax : Notification No. 94/2009 - Income Tax For the purpose of computing the income chargeable under the head Salaries, the value of pe...

December 18, 2009 2276 Views 1 comment Print


Latest Posts in section 17

I&B Code Proceedings and Moratorium Render Appeals Invalid

March 19, 2024 111 Views 0 comment Print

Learn about the ITAT Mumbai ruling that prohibits filing appeals during a moratorium under section 14 IBC, as seen in the case of Kaushal Silk Mills Pvt. Ltd. vs ITO.

Ex-gratia Bonus was allowable u/s 37(1) as Business Expenditure of Indian Express

March 19, 2024 543 Views 0 comment Print

Exgratia bonus paid to the employees over and above the eligible bonus under the Payment of Bonus Act was allowable as expenditure under Section 37 (1).

No FBT on Travelling & Conveyance where public transport connectivity was absent 

March 18, 2024 135 Views 0 comment Print

Dive into Prakash Industries Ltd vs ACIT case dissected by ITAT Delhi, detailing FBT exemptions for transport services and medical expenses reimbursement, with expert insights.

GST Refund admissible on receiving export proceeds via authorized dealers like Paypal: Madras HC

March 11, 2024 294 Views 0 comment Print

Madras High Court held that receipt of export proceeds through authorized dealers like Paypal is in accordance with the direction issued by RBI and hence refund duly admissible.

Penalty imposed for mis-classification of goods for claiming higher incentives: CESTAT Ahmedabad

March 4, 2024 234 Views 0 comment Print

CESTAT Ahmedabad imposes penalties under Customs Act for fraudulent MEIS benefit claim by Fashion Accessories, highlighting stringent legal consequences.

PMLA Proceedings Dismissal for Some Individuals Doesn’t Automatically Drop Charges for Co-Accused: Delhi HC

February 24, 2024 249 Views 0 comment Print

Delhi HC upholds PMLA proceedings against co-accused despite dropping charges against some, emphasizing distinct nature of offenses under PMLA and IPC.

Financial debt not barred by limitation: NCLT Delhi

February 13, 2024 270 Views 0 comment Print

NCLT Delhi held that ‘financial debt’ is not barred by limitation. Accordingly, application filed by the CFM Asset Reconstruction Private Limited, the Financial Creditor, u/s. 7 of the Code for initiating CIRP against M.G. Finvest Private Limited, the Corporate Debtor, stands admitted.

Simultaneous CIRP Allowed for Principal Borrower & Corporate Guarantor: NCLT

February 12, 2024 270 Views 0 comment Print

NCLT Kolkata allows simultaneous Corporate Insolvency Resolution Process (CIRP) against State Bank of India and Anupriya Management Private Limited, the corporate guarantor.

Delay in trial cannot be used as ground to grant bail: Supreme Court

February 10, 2024 369 Views 0 comment Print

Supreme Court held that mere delay in trial pertaining to grave offences cannot be used as a ground to grant bail. Accordingly, bail application of appellant accused under Unlawful Activities (Prevention) Act, 1967 rejected.

Delhi HC Orders Release of Seized Property as ED Investigation Exceeds 365 Days Without Proceedings

February 8, 2024 261 Views 0 comment Print

Delhi High Court held that investigation for a period beyond 365 days not resulting in any proceedings relating to any offence under the Act, in terms of Section 8(3) of the PMLA Act, is that such seizure lapses. Thus, property so seized directed to be released.