Income Tax : Dive into the Principle of Mutuality, exploring its meaning, tax implications, and impact on cooperative societies. Discover case ...
Fema / RBI : It is felt that enormous powers are conferred on Banks or Public Financial Institutions under SARFAESI Act, 2002 from the stage of...
Finance : I strongly believe that implementing the provisions of the SARFAESI Act, 2002 making a good balance between the object and the int...
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...
Income Tax : For the sake of convenience, the attached tables summarises the valuation rules for all perquisites prescribed in the new rule 3 e...
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...
Income Tax : The case examined whether compensation paid to exit prior agreements was a sham arrangement. The Tribunal ruled it was a valid bus...
Corporate Law : Supreme Court held that negligence on part of bank in presentation of cheque within the validity period of cheque leads to ‘defi...
Company Law : Bombay High Court held that writ petition cannot be entertained in the face of availability of alternative remedy of approaching t...
Income Tax : In the absence of proper compliance with Section 65B and failure to establish a clear chain of custody, the digital evidence relie...
Corporate Law : The court analysed whether the reason account blocked falls within the scope of Section 138 of the Negotiable Instruments Act. It ...
Income Tax : Circular No. 2/2010-Income Tax The Finance Act, 2005 introduced a levy namely Fringe Benefit Tax (FBT) on the value of certain fr...
Income Tax : Notification No. 94/2009 - Income Tax For the purpose of computing the income chargeable under the head Salaries, the value of pe...
Supreme Court upholds constitutionality of Sections 34(1), 47(1)(a)(i) and 58(1)(a)(i) of the Consumer Protection Act, 2019 prescribing pecuniary jurisdictions of the district, state and national commissions on the basis of value of goods and services paid as consideration.
Delhi High Court held that independent non-executive director cannot be held liable for non-fulfilment of export obligations by the company. Accordingly, penalty imposed on the director is liable to be set aside.
Madhya Pradesh High Court held that customs authority doesn’t have authority to pass an order of provisional attachment under section 110(5) of the Customs Act, 1962 during pendency of investigation. Accordingly, freezing of bank account not justified.
Supreme Court held that that the preliminary inquiry is not mandatory under the Prevention of Corruption Act, 1988 when the secret information itself discloses the commission of offences. Accordingly, appeal is allowed.
Patna High Court grants bail to an accused in an alleged ₹33 crore GST invoice scam, citing lack of proper evidence for arrest.
Supreme Court held that washing and dry cleaning is covered within the meaning of ‘manufacturing process’ defined under section 2(k) of the Factory Act, 1948 and hence Factory Act will be applicable. Accordingly, appeal is allowed and order of High Court set aside.
In the year 1998, respondent no.1 was appointed as an Assistant Engineer in Karnataka Power Transmission Corporation Limited. Later, he was promoted to the post of Executive Engineer in Bangalore Electricity Supply Corporation.
CESTAT Ahmedabad held that Chartered Accountant certificate stated that duty incidence has not been passed on to the customers. Hence, refund cannot be rejected by brushing aside Chartered Accountant certificate without any cogent reason.
NCLT Mumbai held that the Advance received by the Corporate Debtor against future supply of goods is an Operational Debt. Petition u/s. 9 of Insolvency and Bankruptcy Code admitted since Corporate Debtor failed to pay operational debt.
The aforementioned action by assessee implied that assessee had accepted the reassessment and enhancement. Consequently, the appropriate officer was not supposed to issue a speaking order in accordance with Section 17(5) of the Customs Act.
