Income Tax : Understand whether director remuneration is taxed as salary or business income. Learn about tax implications, employer-employee re...
Income Tax : Explore provisions under the Income-tax Act for computing business income, including various chargeable incomes and accounting met...
Income Tax : Explore the discussion between CA Micky and CA Mini on Sections 68 & 44AD of the Income Tax Act. Learn about unexplained cash cred...
Income Tax : Understand the impact of Section 43B(h) on businesses: Learn about deductions for MSME payments and the importance of timely payme...
Income Tax : Explore the impact of Finance Act, 2023, on MSME payment enforcement under section 43B(h) of the Income Tax Act, 1961. Understand ...
Income Tax : The writ petitioner impugns the order dated 27 March 2018 in terms of which the respondent has come to reject applications filed b...
Custom Duty : CESTAT Delhi held that duty has to be paid when goods imported into an SEZ are not used for the authorised operations but are sold...
Custom Duty : Disha Realcon and SM Niryat had exported iron ore fines whose Fe content was below 58% under some Shipping Bills and iron ore fine...
Income Tax : ITAT Ahmedabad held that where Commissioner (Appeals) passed ex-parte order in violation of principles of natural justice, one mor...
Custom Duty : CESTAT Kolkata held that owner of the car is liable to pay customs duty on redemption of the confiscated vehicle/ car even if the ...
Allahabad High Court held that penalty under Section 54(1)(2) of the U.P. VAT Act, 2008 cannot be imposed in cases, wherein, the assessment is made on the basis of Best Judgement Assessment.
In PCIT vs Inderjit Singh Sodhi (HUF), Delhi High Court examines whether interest on compensation is taxable as income from other sources. Read the detailed analysis.
Mahaveer NX challenges a customs order citing address discrepancy & lack of hearing. Madras HC sets it aside, directing issuance of SCN for correction.
Madras High Court held that non-fulfilling obligation under advance license by the transferor doesn’t get extinguish on account of merger/ amalgamation. Such liability has to be discharged by the transferee company.
Authority / power to revoke or cancel the Discharge Certificate on the premise that the material particulars furnished in the Discharge Certificate was false, lied with the exclusive jurisdiction of the Designated Committee.
Supreme Court held that provisions of section 71 of the Customs Act doesn’t apply when goods were not warehoused inside the notified public bonded warehouse but were unloaded outside the notified area but within factory premises and kept under a shed on permission granted by Superintended.
CESTAT Chennai held that imported goods being handheld machines popularly known as brush cutter is classifiable under CTH 84672900 and parts of brush cutter is classifiable under CTH 84679900.
Understand the impact of Section 43B(h) on businesses: Learn about deductions for MSME payments and the importance of timely payments to avoid penalties and interest.
ITAT Mumbai held that compensation received by the assessee in out of court settlement for unilaterally terminating certain obligation under the agreement is an income assessed to business income and not an income assessed to capital gains as claimed by the assessee.
ITAT Delhi held that PCIT cannot assume revisional jurisdiction under section 263 of the Income Tax Act when in case of debatable issue, out of the two possible views, AO accepts one of the views.
