Income Tax : Understand the statutory time limits for filings, applications, approvals, and settlement processes under the Income-tax Act, incl...
Goods and Services Tax : Explore the contested issue of time-barred GST appeals. While some courts deny interference, a recent Calcutta High Court ruling c...
Income Tax : Profits and Gains of Business or Profession (PGBP) Additions and Deductions Following things should be added to ‘Net Profit as p...
Income Tax : Provisions of section 35 of the Income Tax Act, 1961 covers deduction allowable towards expenditure on scientific research. The pr...
Income Tax : The Finance Act 2020 has brought in some dynamic changes in respect of the exempted Trusts, Societies, NGOs, Charitable Trusts, Se...
Corporate Law : Explore the proposed amendments to Regulations 35, 37, and 50 of the Competition Commission of India (General) Regulations 2009. L...
Income Tax : Deferrement of Procedure for Approval/ Registration/Notifications of certain entities U/s 10(23C), 12AA, 35 & 80G of Incom...
Income Tax : A plain reading of Section 35(2AB) of the Act may suggest that the weighted deduction is not with respect to expenditure on scient...
Income Tax : Section 35 of the Income-tax Act provides for deduction in respect of expenditure on research and development. The existing provis...
Corporate Law : The Tribunal allowed recovery of ₹10.74 lakh after the borrower defaulted on a car loan and failed to appear in the proceedings....
Income Tax : The Tribunal ruled that once the Assessing Officer scrutinized the Section 10AA claim and R&D allocation, revision cannot be invok...
Income Tax : The Tribunal held that capital gains must be computed using the final stamp value determined after litigation, not an earlier infl...
Income Tax : The issue was whether a late return under section 139(4) bars the concessional 22% tax regime. The Tribunal held that timely filin...
Income Tax : The Court ruled that Section 17A lawfully requires prior approval before investigating decisions taken in official capacity. It cl...
Income Tax : The Ministry of Finance grants approval to IIIT Hyderabad for scientific research under the Income Tax Act, effective from 2024-25...
Income Tax : Notification 102/2024 designates Auroville Foundation as an approved institution for social science research under the Income Tax ...
Corporate Law : Discover the implications as the provisions of sections 20, 35, and 40 of the Competition (Amendment) Act, 2023 take effect from M...
Income Tax : CBDT has decided that the implementation of new procedure for approval/ registration/notification of certain entities shall be def...
Fema / RBI : UBD.BPD (PCB).Cir No.25/09.11.200/2009-10 Dated - December 3, 2009 The Government had in exercise of powers conferred by Section 3...
CESTAT Chennai held that duty exemption available to all items of machinery, including instruments, apparatus and appliances, auxiliary equipment and their component parts required for setting up of water treatment plants. Accordingly, duty paid under protest is required to be refunded back.
Kerala High Court held that the provisions i.e. Sections 14A & 74H of the Kerala Co-operative Societies Act, 1969 not relating to any aspect of banking are within the legislative competence of the State Legislature.
CESTAT Allahabad dismisses appeal due to delay in filing beyond 30 days, citing statutory limitations. Detailed analysis of the ruling’s implications.
Punjab and Haryana High Court held that non-conveying of grounds of arrest in writing is not sufficient compliance of the provisions of Section 19 of the PMLA and Article 22 of the Constitution of India. Accordingly, arrest of the present petitioner illegal and cannot be sustained.
Gujarat High Court held that Challenge to notice issued under section 154 of the Income Tax Act is maintainable under Article 226 of the Constitution of India.
Delhi High Court ruling: Commissioner/Appellate Authority cannot condone Customs Act appeal delay beyond 30 days. Analysis of Section 5 of Limitation Act.
Jharkhand High Court held that Jharkhand Value Added Tax Act, 2005 [JVAT Act] doesn’t have any provision for initiation of re-assessment proceedings against a re-assessment order. In case assessing authority is allowed to initiate repeated re-assessment proceeding merely on dictate of audit party there would be no finality of assessment.
In the case of Net Metallics vs. Union of India, the CESTAT rules on pre-deposit requirements where the Order-in-Original (OIO) is set aside without confirming a demand.
ITAT Ahmedabad held that the assessee (pharmaceutical company) is not entitled for claiming deduction under section 37(1) of the Income Tax Act on account of freebies given to the doctors.
Allahabad High Court held that both the goods i.e. ‘Bakery Shortening’ and ‘Vanaspati (hydrogenated vegetable oil)’ are being treated as one under Central Excise Tariff Act as well as Customs Tariff Act. Hence, both are to be treated as same even under Sales Tax Law.
