Service Tax : Despite doing away with the service-specific descriptions, there will be some descriptions where some differential treatment will ...
Income Tax : The Parliament has passed the the Competition (Amendment) Bill, 2009 which is to replace the Competition (Amendment) Ordinance, 20...
Income Tax : The government is likely to seek the Cabinet’s approval on amending the Competition Act 2002 to facilitate the winding up of the...
Income Tax : After a lull, the contentious provisions regarding mergers and acquisitions (M&A’s) of the amended Competition Act is back on th...
Income Tax : The Bombay High Court held that reassessment proceedings became time-barred because no reassessment order was passed within the li...
Service Tax : Profit arising from purchase and sale of cargo space by a freight forwarder on principal-to-principal basis was trading income and...
Service Tax : CESTAT Chandigarh held that the Air Travel Agents are not required to pay Service Tax on the Commission received by them from CDS/...
Company Law : The tribunal held that mere suspicion or possibility of fraud without supporting evidence cannot justify action under Section 66 o...
Company Law : Supreme Court held that section 66 of the Companies Act, 2013 doesn’t require mandatory obtaining or circulating of formal valua...
Service Tax : Notification No. 43/2009-Service Tax Whereas the Central Government is satisfied that a practice was generally prevalent regarding...
Service Tax : Notification No. 33/2009 - Service Tax Central Government hereby exempts the taxable service provided to any person in relation to...
Income Tax : That the said Association will submit to the prescribed authority by 30th June, each year, a copy of their audited annual accounts...
The Tribunal held that revision under Section 263 is invalid where the Assessing Officer has conducted enquiries and adopted a plausible view. Mere disagreement by the Commissioner does not render the assessment order erroneous.
ITAT Mumbai held that long-term capital gains earned from the transactions, which are grandfathered as per the provisions of Article 13(4) of the India-Mauritius DTAA, doesn’t form part of total income hence cannot be adjusted against the brought forward long-term capital loss incurred by the assessee. Accordingly, order set aside.
The Supreme Court examined whether fees paid to foreign speakers through booking agents attract service tax as event management service. It held that speaker booking does not amount to planning, organizing, or managing an event and is therefore not taxable under that category.
Karnataka High Court allowed the writ petition and held that refund on account of inverted tax structure is allowable relying on the final order of earlier tax period. Thus, order rejecting refund is quashed and set aside.
NCLAT Delhi upholds order of Adjudicating Authority directing contribution to the assets of corporate debtor since it is clearly established that business of corporate debtor was carried on with intent to defraud creditors of corporate debtor.
NCLAT Delhi held that intention to defraud creditors of Corporate Debtor was based on documentary evidence, accordingly, all the ingredients under section 66 of the Insolvency and Bankruptcy Code are attracted. Thus, appeal lacks merits and hence dismissed.
CESTAT Mumbai held that services rendered by Marriott Hotels India Private Limited to their group company [Marriott Hong Kong] qualifies as export of services and accordingly no service tax is leviable. Thus, order quashed and appeal allowed.
NCLAT Delhi held that once a transaction has been held to a fraudulent transaction there is no limitation to look back if the other ingredients of Section 66 (1) of the Insolvency and Bankruptcy Code are satisfied. Accordingly, appeal of appellants is dismissed.
Delhi High Court held that successive Bail Application filed with no change in circumstances is liable to be dismissed. Further, bail application is dismissed since applicant has already been declared an offender.
CESTAT Allahabad held that demand made in respect of works contract services provide to Krishi Upaj Mandi Samiti is not sustainable since the services are provided to Government Authority and the same are exempted in terms of Notification 25/2012-ST.
