Gujarat High Court held that the question whether online gaming would tantamount to betting/gambling requires to be analyzed in details. Accordingly, an ad-interim relief extended to petitioner.
CESTAT Allahabad held that SAD (Special Additional Duty) is not leviable on the goods cleared in DTA as samples from EOU by availing of exemption from payment of Sales Tax/ VAT.
Madras HC rules on GST for flavoured milk in Parle Agro case. Key verdict on classification; implications for businesses.
SC reinforces Insolvency and Bankruptcy Code’s priority mechanism for CBIC, Department of Revenue dues. Key insights from Principal Commissioner of Customs Vs Rajendra Prasad Tak case.
Explore the AAR ruling on GST exemption for Immense Construction Company in Telangana. Analysis of works contracts and procurement implications.
Explore GST implications & Input Tax Credit eligibility for canteen and transportation services in recent AAR Telangana ruling on Kirby Building Systems.
ITAT Delhi held that amount advanced to subsidiary companies out of commercial expediency, accordingly, disallowance of interest claimed under section 36(1)(iii) of the Income Tax Act unsustainable.
ITAT Chennai held that only the mistake apparent from record which can be rectified but where two views are possible or there is a debate available, it cannot be rectified u/s.154 of the Income Tax Act.
Deduction under section 80P(2)(d) was allowable on receipt of interest from co-operative bank as a Co-operative Society was only a co-operative society as defined under the Act, be it a Co-operative Society carrying on banking business or Co-operative Society carrying on the other businesses or a Co-operative bank.
The proceedings drawn, admittedly being beyond a period that was prescribed under sub-section (2A) of Section 153 and the consequential orders passed were all beyond the period of limitation prescribed under sub-section (2A) of Section 153 hence, the same being not sustainable, deserved to be and was accordingly set aside/quashed.
