The Supreme Court dismissed an SLP, affirming the Delhi HC’s decision that an Electronic Credit Ledger (ECL) with a negative balance cannot be blocked under Rule 86A of the CGST Rules.
Calcutta High Court quashes GST order passed u/s 73, as reply to SCN was ignored. Directs re-adjudication after considering taxpayer’s response and hearing.
NCLAT Delhi held that restoration application rightly dismissed as personal guarantor was trying to abuse the process of law by misusing the moratorium available to him under section 96 of the Insolvency and Bankruptcy Code.
ITAT Jaipur held that seized cash belongs to the firm and not of the assessee alone and hence invoking provisions of section 69A of the Income Tax Act in the hands of assessee misconceived. Accordingly, addition is directed to be deleted.
CESTAT Chennai held that royalty payment not connected with the condition of sale is not includible in the assessable value. Hence, invocation of rule 10(1)(c) of the Customs Valuation Rules, 2007 not justified.
Competition Commission of India finds FPBAI guilty of price-fixing and market control, imposing penalties on the association and its key office-bearers.
The Competition Commission of India has ordered an investigation into allegations by Grasim Industries (Birla Paints) of Asian Paints abusing its dominant position in the decorative paints market.
ITAT Delhi held that Bright Line Test doesn’t have statutory mandate and cannot be applied for determining Arm’s Length Price [ALP] of Advertisement, Marketing and Promotion [AMP] expense. Accordingly, appeal allowed to that extent.
The Appellants submitted that there were multiple violations of Section 30(2) of the Code, which prohibits the CoC from approving a plan that violates many laws and many provisions of the Code and Regulations.
AO treated this amount as fees for technical services (FTS) taxable in India, and Dispute Resolution Panel (DRP) upheld the assessment. DRP looked into whether the payment made by an Indian company, FSTI, to Ethiopian Airlines (EA) was taxable in India as FTS.
