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Judiciary

No addition for cash deposit & Balance when Accounted in books & duly explained

June 4, 2024 1155 Views 0 comment Print

ITAT Chennai rules that recoveries of farmers’ advances reflected in cash books are not unexplained cash credits under Section 68 of the Income Tax Act.

NCLAT upholds admission of SBI’s IBC Section 7 application citing errors & legal misinterpretations

June 4, 2024 216 Views 0 comment Print

NCLAT Delhi rules on the admissibility of a Section 7 application by State Bank of India against Advantage Overseas Pvt. Ltd., allowing it despite the timing of the OTS failure. Read the full analysis.

NCLAT Orders Resubmission of Resolution Plan to CoC with NOIDA’s Secured creditor Claim

June 4, 2024 345 Views 0 comment Print

Learn about SP Probuild LLP Vs. Rabindra Kumar Mintri & Ors case. NCLAT Delhi ruling states that resubmission of resolution plan awaits pending applications.

TDS on Foreign Payments & Liquidated Damages as Capital Receipts

June 4, 2024 951 Views 0 comment Print

ITAT Kolkata ruled that TDS under section 195 is not required for foreign commission payments and liquidated damages are capital receipts, not taxable income.

Failure to provide personal hearing: Madras HC quashes GST Assessment Order 

June 4, 2024 396 Views 0 comment Print

Madras High Court quashes GST assessment orders due to failure to consider assessee’s reply & provide personal hearing. Full text of judgment included.

CRM Services Receipts Not Taxable as Royalty or FTS: ITAT Delhi

June 4, 2024 291 Views 0 comment Print

In the case of Salesforce.com Singapore Pte Ltd. vs ACIT, ITAT Delhi ruled that receipts from CRM services aren’t taxable in India as royalty or FTS under the Income-tax Act or India-Singapore DTAA.

Allahabad HC Dismisses Writ Petitions Against CBIC’s Date Extension Notification

June 3, 2024 2511 Views 0 comment Print

Read the detailed analysis of the Allahabad High Court’s dismissal of writ petitions challenging CBIC’s date extension notification under Section 168A for FY 2017-18.

Pre-deposit is to be paid through Electronic Cash Ledger when Electronic Credit Ledger is blocked due to denial of ITC

June 3, 2024 6084 Views 0 comment Print

The Madras High Court’s ruling in KOG-KTV Food Products (India) Pvt Ltd vs Joint Commissioner (Appeals) Coimbatore clarifies pre-deposit through Electronic Cash Ledger when Electronic Credit Ledger is blocked due to ITC denial.

GST implications on canteen and transport services to employees

June 3, 2024 12048 Views 0 comment Print

Explore the GST implications on canteen and transport services provided by Zentiva Pvt Ltd to its employees as per the recent Gujarat AAR ruling.

‘Mix Mukhwas’ & ‘Roasted Til & Ajwain’ falls under HSN Code 12074090

June 3, 2024 660 Views 0 comment Print

Discover how Mix Mukhwas & Roasted Til & Ajwain are classified under HSN code 12074090, taxed at 5% GST. Detailed analysis and ruling explained.

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