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...
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 : 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...
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...
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.
Present matter involves Nowheira Shaik who is executive Chairperson and Founder of the Heera Group. He is accused to have been involved in cheating various investors. Accordingly, to refund the investors ED had attached 96 properties.
CESTAT Chennai held that Epoxidised Soya Bean Oil is classifiable under tariff heading 1518 0039 of the Customs Tariff Act, 1985. Accordingly, duty demand of normal period with appropriate interest confirmed.
Chhattisgarh High Court dismissed Nandan Steels’ appeal against GST credit denial, ruling that delay beyond the prescribed limit cannot be condoned.
Patna High Court held that input tax credit in GST regime is not admissible in relation to duty paid on capital goods in transit before appointed date. Accordingly, writ petition dismissed.
CESTAT Kolkata held that Indian Refractory Mortar is classifiable under CTH 38160000 and not under CTH 2610. Thus, no export duty payable on the same. Accordingly, appeal of the revenue dismissed.
Disha Realcon and SM Niryat had exported iron ore fines whose Fe content was below 58% under some Shipping Bills and iron ore fines whose Fe content was above 58% under some other Shipping Bills.
CESTAT Delhi held that communication modules being parts of communication hubs is classifiable under CTI 8517 70 90. Accordingly, differential duty and also interest and imposition of penalty u/s. 114A set aside.
Punjab and Haryana High Court refused to de-freeze bank account of company alleged to have dishonestly induced individuals/ investors to invest in cloud particles thus involved in scheduled offences under Prevention of Money Laundering Act, 2002.
It was the case of the appellant that he acquired rights from the respondent in pursuant to the agreement dated 07.09.2006. Property (shop) in question were part of government grant hence does not require registration.
