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 : ITAT Delhi deleted penalties imposed for alleged cash transactions after holding that the electronic evidence relied upon by the R...
Corporate Law : Bail was granted in a spurious cancer drug case under Prevention of Money Laundering Act (PMLA) as there was no clear link between...
Income Tax : Madras High Court held that capital profit on the sale of the Fixed Assets of the Company cannot be taken directly to the Reserves...
Corporate Law : Paragraph 27AA of the Employees' Provident Fund (EPF) Scheme could not be automatically imposed on establishments exempted under S...
Fema / RBI : The Tribunal held that once allegations of money laundering are established, the burden shifts to the accused. Failure to prove le...
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 held that the accused can apply by invoking the provisions of Section 91 of the CrPC (Section 94 of the BNSS) for providing copies of the documents which are not relied upon by the prosecution.
Supreme Court rejects resolution plan of JSW since Successful Resolution Applicant (JSW) did not implement the Resolution Plan for about two years since its approval by the NCLAT, though there was no legal impediment in implementing the same.
Levy of purchase tax is governed by the provisions and stipulations of Sections 5A or 7A. They are independent and in a way constitute charging sections. Purchase tax is leviable on and payable by the purchaser.
Delhi High Court granted bail granted to Chartered Accountant [CA] of entity found involved in money-laundering. Notably, bail is granted since trial in the present complaint case is yet to commence and would take some time to conclude.
By an order dated 06.08.2024, the Commercial Court rejected the application filed by the appellant seeking exemption from complying with the mandatory provisions of Section 12-A of the Act, 2015.
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.
