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...
Delhi High Court held that levy of Integrated Goods and Services Tax (IGST) on ocean freight is unconstitutional. Accordingly, directed department to refund service tax paid on ocean freight during April to June 2017.
NCLT Mumbai held that sale of property of personal guarantors by financial creditor under SARFAESI Act during protection of moratorium under section 96 of the IBC is invalid sale as protection of moratorium under section 96 is far greater than of section 14.
Delhi High Court held that telecommunication towers would not fall within the ambit of Section 17(5)(d) of the Central Goods and Services Tax Act. Thus, denial of input tax credit unsustainable in law.
CESTAT Mumbai held that invocation of provisions of immediate suspension of Customs Broker License after more than four years of alleged act is not sustainable in law. Accordingly, order of continuation of immediate suspension is set aside.
Delhi High Court held that adjudication proceedings under Customs Act, 1962; the Finance Act, 1994 and Central Goods and Services Tax, 2017 cannot be kept pending for years and decades together.
Supreme Court held that petition under section 11(6) of the Arbitration and Conciliation Act, 1996 is not maintainable since disputed that are related to non-payment of wages and legality and propriety of termination are non-arbitrable.
NCLAT Delhi held that initiation of proceedings u/s. 13 sub-section (2) and (4) of SARFAESI Act by the creditor prior to filing of Section 10 application, cannot be a ground to hold that Section 10 application is filed with malicious and fraudulent intent.
The application made by the Financial Creditor is complete in all respects as required by law. Therefore, the debt and default stand established and there is no reason to deny the admission of the Petition.
The appellants had filed a refund claim with Assistant Commissioner of Customs (CRS), Visakhapatnam for Rs.5,03,984/- on 10.08.2023. The said refund claim was that the appellant had paid the Duty twice due to ‘ICEGATE error’.
Delhi High Court observed that once the DGFT had proceeded to issue the MEIS scrip to the writ petitioners, they would have been justified in assuming that the issue of classification was neither questioned nor doubted.
