CAAR Delhi allows duty exemption for FOC imports in jobbing, clarifies value addition rules, and emphasizes adherence to existing customs procedures.
The Income Tax Appellate Tribunal (ITAT) Ahmedabad upheld the deletion of a Rs. 3.11 crore addition to an NRI’s income, ruling that funds transferred from an NRE account, originating from foreign earnings, are not taxable in India.
ITAT Jaipur to rule on NRI Ravindra Gaur’s Rs. 86 lakh NRE account deposit, claimed as foreign remittance, challenging ex-parte addition and Section 68 application.
Delhi High Court rules in favor of Russian Technology Centre on share capital additions, clarifying Section 68 and admissibility of evidence for foreign remittances.
Calcutta High Court orders National Jute Manufactures Corporation (NJMC) to refund pre-bid earnest money, deeming forfeiture unfair and arbitrary.
Calcutta High Court allows GST appeal to be heard on merits despite delay, affirming Section 5 of Limitation Act applies, unaffected by Supreme Court’s stay on a precedent.
Gujarat High Court recently clarified that the omission of Rule 96(10) of the CGST Rules, effective October 8, 2024, applies to all pending IGST refund cases for exporters. This ruling addresses difficulties faced by exporters claiming refunds on IGST paid on exported goods.
ITAT Chennai rules Section 6 of the Income Tax Act prevails over a Tax Residency Certificate (TRC) for determining Indian residency. Global income taxable if an individual meets the specified days in India, irrespective of TRC.
Bombay High Court held that in compulsory purchase order declaration of abrogation was not barred by virtue of section 269-UH and/ or section 293 of the Income Tax Act. Accordingly, order passed by Single Judge not sustainable.
Supreme Court held that no priority of interest can be claimed by the Secured Creditors against the properties attached under Maharashtra Protection of Investors and Depositors Act, 1999 [the MPID Act].
