Corporate Law : Supreme Court clarifies power to modify arbitral awards under Section 34 in Gayatri Balaswamy case, raising questions on finality,...
Income Tax : Learn about disallowed expenses under PGBP in India's Income Tax Act. Understand key sections like 37, 40, and 40A, and their impa...
Income Tax : Delhi HC rules reimbursements to NRAEs not subject to TDS as "fees for technical services," clarifying scope of Section 9(1)(vii) ...
Income Tax : Understand the impact of Section 43B(h) on businesses: Learn about deductions for MSME payments and the importance of timely payme...
Corporate Law : Discover the process and types of trademark assignment. Learn about procedures, required documents, and benefits for a smooth tran...
Corporate Law : Explore the proposed amendments to Regulations 35, 37, and 50 of the Competition Commission of India (General) Regulations 2009. L...
Income Tax : Allowability of Interest paid under Incometax Act, 1961: Presently, interest paid by the Government to an assessee is chargeable t...
Income Tax : Interest income earned by a foreign bank from foreign currency loans extended to Indian corporates was taxable on a gross basis. S...
Income Tax : The Gujarat High Court held that a scientifically determined warranty provision qualified for consideration under settled legal pr...
Income Tax : ITAT held that increased employee remuneration cannot be disallowed merely because business revenue declined where the expenditure...
Income Tax : ITAT held Section 43CA did not apply as the flats were booked before the provision became effective, deleting the addition based o...
Income Tax : The ITAT Ahmedabad held that royalty payments should continue to be benchmarked under TNMM by following earlier decisions in the a...
Punjab and Haryana High Court held that cancellation of GST registration for entire places of business for non-submission of NOC by landowner of additional place of business is complete non-application of mind. Accordingly, cancellation of GST registration not justified.
Delhi High Court, in the case of smuggling of Methaqualone denied the bail application since threshold of Section 37 of Narcotic Drugs and Psychotropic Substances Act, 1985 [NDPS Act] not having been crossed.
ITAT Bangalore remitted the matter back to CIT(A) so that assessee can file necessary documents with regard to disallowance made under section 37 of the Income Tax Act as order was passed by CIT(A) without adjourning the matter as sought by assessee.
The High Court does not, therefore, act as a court of appeal against the decision of a court or tribunal to correct errors of fact and does not, by assuming jurisdiction under Article 226, trench upon an alternative remedy provided by statute for obtaining relief.
A search and seizure operation u/s 132 of the Income-tax Act, 1961 was conducted on 23.07.2015 and subsequent dates in different business and residential premises of Deepak Agarwal, Mukesh Kumar and others, group of cases based at Delhi.
Present appeal has been filed by the appellant mainly contesting that whether the Tribunal was right in holding that there has been no diversion of income by overriding charge in respect of amount transferred to Statutory Reserve Fund in compliance with the mandatory provisions of Sec.45IC read with Sec. 45Q of RBI Act.
Madras High Court held that issue relating to pre-closure premium was already considered and allowed by the assessing authority. Thus, invocation of revisionary power u/s. 263 for mere disagreement with the view of the assessing authority is unjustified in law.
Punjab & Haryana High Court denies GST rectification after deadline in Bar Code India Ltd. case, stressing adherence to statutory timelines.
Delhi High Court held that keeping in abeyance refund order by exercising powers conferred u/s. 108 of the CGST Act merely on the basis of intelligence regarding wrongful availment of ITC unjustified since pre-requisite conditions for invoking section 108 not satisfied.
ITAT Bangalore held that amount of employee’s share to ESI and PF paid after due date provide under the respective statutes is liable to be disallowed. Accordingly, matter referred back for limited purpose of verification of payment challans.
