ITAT Ahmedabad held that arms length interest rate for loan advanced to foreign subsidiary by Indian company should be computed based on market determined interest rate applicable to currency in which loan has to be repaid.
Lyka Labs Limited Vs State of Maharashtra (Bombay High Court) Bombay High Court held that the signatory of the cheque, authorized by the “Company”, is not the drawer in terms of section 143A of the Negotiable Instruments Act and cannot be directed to pay interim compensation under section 143A. Facts- The issue involves that whether […]
NCLAT Chennai held that as assets proved to be fictitious/ fraudulent and seems to have been created in books of accounts with an intent to defraud the creditors. Accordingly, amount duly payable to liquidator for distribution under section 53 of I&B Code, 2016.
ITAT Bangalore held that revisionary jurisdiction under section 263 of the Income Tax Act could not be allowed to be exercised by the PCIT either for substituting his own opinion for that of the AO or for making a fishing and roving enquiry.
GST applicable on entire bill, including monthly rental, night charges, and fuel on mileage basis, for motor vehicle hire services where service provider is responsible for arranging fuel and maintenance.
Applicant seeks interpretation of GST law with respect to doctrine of mutuality and relationship of applicant association with its members. The said interpretation of law is not mandated to Advance Ruling Authority for ruling under Section 97(2).
In re KTV Health Food Pvt. Ltd. (GST AAR Tamilnadu) The Mahara Jyothi oil, which is an edible RBD Palmolein without any additives or mixture of other oils, is classifiable under 1511 90 20. FULL TEXT OF THE ORDER OF AUTHORITY FOR ADVANCE RULING, TAMILNADU 1. KTV HEALTH FOOD PVT LTD, No.7/3, ARUL NAGAR SALAI, KODUNGAIYUR, […]
Supreme Court held that date of Panchnama last drawn would be relevant date for considering period of limitation of two years and not last date of authorisation
In re Godrej Properties Limited (GST AAR Karnataka) Question i. Whether the applicant is liable to charge GST, if the booking of plot, receipt of consideration and agreement for sale is entered as well as sale deed is executed after the release certificate, on the following components (Under Section 97(2)(e ) of CGST / KGST […]
ITAT Raipur held that there is no bar on an individual to join a partnership firm in his representative capacity of a firm being represented by him. In short, partnership firm can be formed by partners represented by their respective firms.
