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Payment to MSMEs in 45/15 Days: Section 43B(h) Explained

Income Tax : Explore the impact of Finance Act, 2023, on MSME payment enforcement under section 43B(h) of the Income Tax Act, 1961. Understand ...

February 5, 2024 165075 Views 7 comments Print

Analysing Bail Jurisprudence under PMLA: Unravelling Problematic Twin Conditions

Corporate Law : Explore complexities of PMLA bail conditions, their impact on accused, and constitutional concerns. A comprehensive analysis sheds...

January 6, 2024 1020 Views 0 comment Print

Preference Share Capital And Preference Capital

Company Law : Learn the distinction between preference share capital and preference capital with detailed explanations and examples, exploring t...

March 9, 2023 2655 Views 0 comment Print

Delayed employees PF remittance -Power to disallow u/s 143(1)- Effect of SC decision

Income Tax : Delayed employees PF remittance Supreme Court decision in Checkmate Services - Under s.143(1), power to disallow. Tribunal decisio...

December 21, 2022 3780 Views 1 comment Print

Discouragement of Cash Transactions under Various Laws in India

Income Tax : Learn how Indian laws combat cash transactions through measures like demonetization, Benami Transactions Act, and Income-tax Act. ...

October 8, 2022 5526 Views 0 comment Print


Latest Judiciary


TP adjustment towards brand development services deleted as no contract exists between the parties: ITAT Chennai

Income Tax : ITAT Chennai held that transfer pricing adjustment towards brand development services unjustified in absence of contract amongst t...

March 20, 2024 114 Views 0 comment Print

Deemed dividend u/s 2(22)(e) assessable in hands of beneficial shareholder having substantial interest: ITAT Kolkata

Income Tax : Apeejay Surrendra Management Services Pvt Ltd Vs DCIT (ITAT Kolkata) ITAT Kolkata held that deemed dividend under section 2(22)(e)...

March 19, 2024 195 Views 0 comment Print

Delhi HC Quashes Look Out Circular Against Guarantor (Hulas Rahul Gupta Case)

Corporate Law : Delhi High Court, in Hulas Rahul Gupta vs. Union Bank of India, quashed a Look Out Circular (LOC) issued against a loan guarantor....

March 3, 2024 231 Views 0 comment Print

NCLAT Rules NCLT Can Decide Trademark Issues in IBC Cases

Corporate Law : Gloster Cables claims ownership of the GLOSTER trademark in a dispute with Fort Gloster during insolvency proceedings. Learn about...

March 3, 2024 246 Views 0 comment Print

No Interest on incorrectly availed ITC if assessee has sufficient credit in their account

Goods and Services Tax : Madras High Court orders refund without interest charge when no revenue loss occurs, setting a precedent for GST and tax refund ca...

February 22, 2024 1896 Views 0 comment Print


Latest Notifications


CBDT notifies more modes of e-payments; 6DD limit reduced to ₹ 10000

Income Tax : Notification No. 8/2020-Income-Tax- CBDT has notified Other electronic modes by inserting New Income TAx Rule 6ABBA. It also amend...

January 29, 2020 12654 Views 0 comment Print

CBDT notifies Ace Derivatives and Commodity Exchange Ltd.’ for trading of commodity derivative U/s. 43(5)

Income Tax : Notification No. 15/2014-Income Tax entral Government hereby notifies the Ace Derivatives and Commodity Exchange Limited, Ahmedaba...

March 20, 2014 787 Views 0 comment Print


Analysing Bail Jurisprudence under PMLA: Unravelling Problematic Twin Conditions

January 6, 2024 1020 Views 0 comment Print

Explore complexities of PMLA bail conditions, their impact on accused, and constitutional concerns. A comprehensive analysis sheds light on legal developments.

Appellate authority cannot enhance assessment without issuing a notice

January 6, 2024 417 Views 0 comment Print

ITAT Ahmedabad held that an appellate authority can exercise the power u/s. 251(1)(a) to enhance the assessment only after giving a notice for enhancement. Accordingly, enhancement by CIT(A) without issuance of notice is untenable in law.

IRP not a Public Servant: HC quashed CBI FIR u/s 7 of Prevention of Corruption Act

December 27, 2023 354 Views 0 comment Print

Assessee was approached by Financial Creditor of FR Tech Innovations Private Limited (CD) for proposing the name of assessee as IRP in the company petition to be filed by the Financial Creditor under Section 7 of IBC, 2016 in the NCLT, Mumbai Bench by the FR Tech Innovations Private Limited.

Amount directed to be deposited with Corporate Debtor as transaction hit by Section 43 of IBC during CIRP

December 4, 2023 378 Views 0 comment Print

NCLT Ahmedabad held that before commencement of insolvency, the assets of the corporate debtor are stripped many a times by the management. The suspended management conceals the data from RP during CIRP process. Amount directed to be deposited with Corporate Debtor as the transaction is hit by provisions of section 43 of the Insolvency and Bankruptcy Code.

Right of person to enjoy property cannot be prevented alleging non-registration of document u/s 22A

November 6, 2023 1524 Views 0 comment Print

Telangana High Court held that the Registration of a document does not create any title. The action of non-registration of a document under Section 22A of the Registration Act, 1908 does not prevent a person of the right to enjoy his property.

Shares/securities/PMS/Mutual fund held as investment taxable under capital gains

November 2, 2023 861 Views 0 comment Print

ITAT Delhi held that income from sale of shares/securities/PMS/Mutual Funds, etc. which were held as investment and not as stock-in-trade is taxable under the head capital gains and not under the head business income.

Order rejecting GST refund for non-receipt of lease rental passed without considering contention remanded back

October 30, 2023 387 Views 0 comment Print

Delhi High Court concluded that Appellate Authority failed to consider the contention of the petitioner that there was no supply of service via-a-vis refund of GST. Accordingly, matter remanded to Appellate Authority.

Subsidy from Government under Focus Market Scheme is revenue receipt

October 25, 2023 699 Views 0 comment Print

ITAT Chennai held that subsidy received from Government of India under the Focus Market Scheme is Revenue in nature. The same cannot be at any stretch of imagination considered as capital in nature.

Demand of sales tax sustained as discrepancies in sales figures and physical stock not explained

October 25, 2023 378 Views 0 comment Print

Delhi High Court held that as discrepancies in sales figures as well as physical stock not explained, the assessing authority took a fair view in enhancing sales by 10% of net GTO after deducting the stock transfer figure of GTO. Accordingly, levy of tax with interest confirmed.

ITAT Allows Depreciation for Textile Spinning Unit Acquired via Bank of Baroda Auction

October 25, 2023 300 Views 0 comment Print

In the Varadaraja Textiles case, ITAT Chennai ruled that depreciation is allowed for a textile spinning unit acquired through an auction sale, disputing the nil cost assessment.