Read the detailed analysis of Kerala High Court's dismissal of Writ Appeal by Manaf Alihassan against orders of Tamil Nadu Assessing Authority due to lack of territorial jurisdiction. The po… Read More

Bombay High Court ruling emphasizes revenue officers' obligation to adhere to appellate decisions in quasi-judicial matters, ensuring fair tax administration. The post Subordinate Authoritie… Read More

Understand Section 80-IA(4) deductions: N.C.C. – M.S.K.E.L (J.V.) Vs Income Tax Officer (ITAT Ahmedabad) clarifies eligibility for developers. The post Developer engaged in “deve… Read More

Smaaash Leisure Limited wins against Commissioner of CGST. CESTAT Delhi rules bowling alley income exempt from service tax. Details of the case explained. The post No service Tax on Bowling… Read More

Explore the ITAT Delhi's ruling on cash deposits during demonetization in the case of Shivam Industries Radheshyam Sharma & Co. Vs ACIT for AY 2017-18. The post Cash Deposits During Demo… Read More

In Ajit Chandrashekar Dighe Vs DCIT (ITAT Mumbai), learn about the importance of substantiating Form 26AS or Form 16 for claiming TDS credit. Detailed analysis provided. The post TDS credit… Read More

Dive into the classification dispute between Continental Automotive Brake Systems India and Customs over Electronic Control Units (ECUs) in this detailed analysis of CESTAT Delhi's order. Th… Read More

Dive into the world of debentures, exploring their types, valuation techniques, and the demi-proxy approach for convertible debentures. Learn how to assess their value effectively. The post… Read More

Analysis of Satbir Mahato Vs PCIT case by Kolkata ITAT, highlighting the dispute over Section 263 jurisdiction due to plausible views of AO. The post PCIT Cannot invoke Section 263 jurisdict… Read More

Mool Chand Aggarwal Vs ACIT (ITAT Delhi) CIT(A) cannot disbelieve cash book only on the ground that ‘generally individuals do not maintain cash book and it is not mandatory to maintain… Read More

Authority / power to revoke or cancel the Discharge Certificate on the premise that the material particulars furnished in the Discharge Certificate was false, lied with the exclusive jurisdi… Read More

Explore ITAT Indore's order in ACIT Vs MP Warehousing case, challenging deduction under section 35AD for specified and non-specified business income. The post ITAT directs Readjudication of… Read More

In the Nano Infra Promoters Pvt Ltd vs ITO case at ITAT Kolkata, learn why receipts couldn't be added to income under section 68 just for summons non-compliance. The post Share capital/premi… Read More

Indore ITAT dismisses Abhishek Singh's appeal against PCIT for filing belatedly, citing insufficient cause for the 6-year delay. The post Delay in appeal cannot be condoned for Vague & u… Read More

Navigate regulatory compliance for FY 2024-25 under the Companies Act with insights into obligations, timelines, and implications. Ensure meticulous adherence to bolster corporate integrity… Read More

Delve into the conundrum surrounding Section 42(7) of the Companies Act 2013 as the ROC Delhi's adjudication order highlights the violations by fintech startups acting as distribution channe… Read More

Discover the Delhi High Court's ruling in Good Life Zip India vs. Commissioner of Delhi Goods and Service Tax & ANR regarding retrospective cancellation of GST registration due to failur… Read More

ITAT Delhi in Preeti Bhardwaj Vs ITO held that AO cannot treat cash deposits as unexplained when assessee has provided the source of cash deposits being cash withdrawals without bringin… Read More

CESTAT Chennai in United India Insurance Company Limited vs Commissioner of GST and Central Excise held that adjudicating authorities cannot review previous orders via corrigendum. The post… Read More

The case pertained to the disallowance of interest amounting to Rs. 1,16,82,953/- paid on an unsecured loan. This ruling sheds light on the meticulous examination of evidence and the importa… Read More

Sanjay Kumar Sharma Vs PCIT (ITAT Delhi): ITAT's ruling on interest under Land Acquisition Act as capital receipt and exempt under Section 10(37) analyzed. The post Section 263 cannot be inv… Read More

Rugby Regency P. Ltd appeals against denial of depreciation on windmills and addition of income under Section 56(2)(viib) of Income Tax Act. Detailed analysis of the case from ITAT Delhi. Th… Read More

Read the detailed analysis of the Madras High Court ruling in Tvl. Future General India Insurance Co. Ltd. vs Assistant Commissioner regarding tax liability based on state-wise turnover. The… Read More

Learn about the Calcutta High Courts ruling on SGST Authority proceedings in light of pending matters before CGST Authority. Understand implications & legal considerations. The post SGST… Read More

Government imposes Rs. 2.89 crore penalty on Mayasheel Retail India for violating private placement rules. Explore the case details and implications. The post MCA imposes Rs. 2.89 Cr penalty… Read More

Read about the case involving Chetan Patel, an Insolvency Professional, with detailed analysis of alleged contraventions and submissions, and the final order by IBBI's Disciplinary Committee… Read More

Explore the comprehensive regulatory insights shared by Shri M. Rajeshwar Rao, Deputy Governor of the Reserve Bank of India, focusing on prudence, proportionality, and proactiveness, alongsi… Read More

Ministry of Corporate Affairs fines Planify Capital Ltd. Rs. 7 Crore for breaching Companies Act with unauthorized securities issuance and advertising. Read more. The post MCA imposes Penalt… Read More

Ministry of Finance introduces Notification No. 11/2024 to amend Central Excise Act, raising Excise Duty on Petroleum Crude to Rs. 6800 per tonne. The post SAED on Petroleum Crude Production… Read More

Learn about IFSCAs decision to permit foreign entities to trade directly on IFSC stock exchanges as Remote Trading Participants (RTP) without a broker-dealer. The post IFSCA Circular: Remote… Read More

Effective from April 1st, 2024, the Institute of Company Secretaries of India mandates a switchover to a new training structure. Learn the details and implications here. The post ICSI: Compu… Read More

Read about INS Consultancy's withdrawal of three applications seeking advance ruling on the classification of roasted areca nut imports, as per Customs Authority for Advance Rulings, Mumbai… Read More

Explore the classification of roasted areca nuts in the full text of the order by Customs Authority of Advance Ruling, Mumbai, concerning the withdrawal of the application by M/s Exide Energ… Read More

Explore the new manufacturing norms (NMN) in India aimed at boosting SME growth. Learn about eligibility criteria, investment thresholds, and benefits for small and medium enterprises. The p… Read More

Explore the implications of Gauhati High Courts ruling on CGST Act extension in the Maina Devi Choraria case. Understand the legal arguments and implications. The post Gauhati HC stays GST R… Read More

Discover the Chhattisgarh High Courts recent judgment tackling judge bashing and derogatory comments online. Learn about the case, analysis, and the importance of upholding judicial dignity… Read More

ITAT Mumbai held that non-examination of the details clearly makes the order of AO erroneous and prejudicial to the interest of revenue. Accordingly, PCIT correctly assumed the revisional ju… Read More

Assessee-company had entered into a Purchasing Agreement with M/s. Hindustan Unilever Ltd. whose main business was manufacture and sale of detergents, etc. The post TDS was correctly deducte… Read More

The contention of assessee-company that the person issuing the show cause notice i.e., Special Director was “the” Adjudicating Authority and all proceedings pursuant to the show… Read More

Gain insights into tax regimes for assessment year 2024-25. Learn about deductions, setoffs, and more. Choose the right regime before filing your income tax return. The post Decoding Income… Read More

Understand the process of condonation under Section 119(2)(b) for filing returns with genuine hardship. Learn about the time limits and steps involved. The post Condonation of delay in filin… Read More

CESTAT Hyderabad ruled that confiscating gold without corroborative evidence is unjust. Learn about the case of Kogatam Sadik Basha Vs Commissioner of Central Tax Preventive. The post CESTAT… Read More

Learn about the revised framework for fund borrowings by large corporates (LCs) under Regulation 50B of SEBI (Issue and Listing of Non-Convertible Securities) Regulations, 2021, promoting ea… Read More

Dive into the detailed analysis of the Shyam Sunder Khandelwal Vs ACIT case by Rajasthan High Court, exploring the applicability of Sections 153C and 148 of the Income Tax Act. Understand th… Read More

Explore Delhi High Court's ruling in Sanjay Jain bail case, considering factors like non-arrest of co-accused, completion of investigation, and absence of incriminating evidence. Precedents… Read More

Explore the robust growth in GST collection for FY 2023-24, crossing Rs. 20 lakh crore, reflecting economic resilience and improved compliance. Detailed analysis and future prospects discuss… Read More

Unveil the complexities of bank branch operations, NPAs, and audit procedures under SA 315 guidelines. Learn more in this detailed analysis. The post Bank Branch Business Analysis: SA 315 In… Read More

Explore the NSEL internal audit case, uncovering gaps in compliance, fraudulent practices, and the crucial lessons learned for corporate governance and regulatory reform. The post Case Study… Read More

Kerala High Court's stay order halts income tax recovery until final decision. Read the full text of the judgment/order here. The post Kerala HC Grants Stay on Income Tax Recovery Pending Fi… Read More

Learn how to self-enable for e-Invoicing and comply with the turnover threshold of INR 5 crores. Get step-by-step guidance and portal links. The post Advisory: Self Enablement For e-Invoicin… Read More

Get clarity on permissible ship leasing activities under the IFSCAs Framework for Ship Leasing. Learn about regulations for lessors in International Financial Services Centres. The post IFSC… Read More

Stay updated with DGFT Notification No. 02/2023 allowing an additional 10,000 MT of onions for export to UAE. Read the detailed analysis here. The post Export of Onions (under HS code 0703 1… Read More

Delve into the intricacies of Mpower Saksham Skills' eligibility for GST exemption under Notification No.12/2017-Central Tax. Detailed analysis and conclusion provided. The post Eligibility… Read More

Understand the net impact of GST on pre-GST lump sum contracts with detailed analysis from Jaipur Metro Rail Corporation Limited's case. Get insights now. The post Advance Ruling Scope Exclu… Read More

Delve into Deepak Kumawat's inquiry regarding the classification of wooden frames under HSN=44140000. Analysis and conclusion provided. The post AAR Allows Withdrawal of Wooden Frames Classi… Read More

Explore the detailed analysis of the ruling by GST AAR Karnataka on the case of KBL SPML Joint Venture regarding the applicability of GST notifications to concluded and future contracts. The… Read More

ITAT Mumbai ruled that no addition is warranted under Sec 56(2)(x)(b)(B)(ii) of Income Tax Act when difference between purchase value and fair market value is less than 10%. The post No Sect… Read More

In re Stanex Drugs & Chemicals Private Limited (GST AAR Telangana) In a recent development, M/s. Stanex Drugs & Chemicals Private Limited sought clarity regarding the GST rates appli… Read More

Learn about the dismissal of the appeal by ADS Agro Industries Private Limited as they withdrew their application following GST Council's clarification on the Advance Ruling question. The po… Read More

CESTAT Delhi upholds penalties on Himachal Fashion Pvt Ltd for diverting imported fabrics, denying Customs Act benefits. Full text of the order and analysis. The post CESTAT Upholds Confisca… Read More

Stay informed about the latest customs duty exemption on Kalanamak rice exports, not exceeding 1000 MTs, under Notification No. 22/2024. Conditions apply. The post Export duty exemption on e… Read More

Learn about the latest DGFT notification allowing export of 1,000 MT of Kala Namak rice under HS Code 1006 30 90. Find out the policy conditions and authorized customs stations. The post Exp… Read More

Explore RBIs updated Master Circular for Urban Co-operative Banks (UCBs) on income recognition, asset classification, provisioning, and related matters till March 31, 2024. The post Master C… Read More

Stay informed about RBI's latest master circular on income recognition, asset classification, and provisioning for advances issued to commercial banks. The post Master Circular 2024- Prudent… Read More

Ministry of Commerce announces promotions against vacancy year 2023. Learn about the new Senior Private Secretaries appointed in DGFT. The post DGFT Promotion 2023: New Senior Private Secret… Read More

Telangana High Court mandates granting personal hearing even if notices sent to unregistered email in Raghava-HES-Navayauga (JV) vs. Additional Commissioner of Central Tax. The post Opportun… Read More

NCLT Chennai rules IBC not right for ED attachment revocation in Nathella Sampath Jewelry case. Detailed analysis of jurisdictional issues. The post IBC Authority Inappropriate for Revocatio… Read More

Explore Andhra Pradesh AAR ruling on GST implications for liquidated damages collected by South India Krishna Oil & Fats (P.) Ltd. Detailed analysis of CGST & SGST at 9% each under H… Read More

Prepare for the closure of FY 2023-24 with this comprehensive GST checklist. Ensure compliance with input tax credit, outward supplies, e-invoicing, and more for a seamless transition into F… Read More

Explore exemptions under capital gain with sections 54, 54B, 54D, 54EC, 54F, 54G, and 54GA. Eligibility, assets, limits, and lock-in periods analyzed. The post Exemption under capital Gain:… Read More

Delay or non co-operation of petitioner in proceedings before first appellate authority is not germane to consideration of an application for condonation of delay by appellate Tribunal. The… Read More

Delhi High Court overturns order rejecting GST appeal due to technical glitches preventing digital data access in GST portal. Full judgment details. The post Delhi HC Sets Aside Order Reject… Read More

Explore the legal dispute between Kaarya Facilities and ITO over the interpretation of Section 36(1)(va). Due date for wages under scrutiny. ITAT Mumbai ruling analyzed. The post Due Date fo… Read More

Reassessment proceedings on the ground that assessee was one of the beneficiary of Client Code Modification (CCM) by some broker was quashed as there was no material to infer that such clien… Read More

Jaipur ITAT directs CIT(A) in Zila Parisad Vs ACIT to permit taxpayer to file a revised appeal memo for correction of error in mentioning assessment year in Form No. 35 The post IT… Read More

TDS was not to be deducted on payments to Manthan Systems Inc. (MSI) for sales commission under section 40(a)(i) as services rendered to assessee by the said Manthan Systems Inc. was not fal… Read More

Analysis of ITAT Mumbai's ruling on void-ab-initio notice under Section 148 & assessment order. Non-recording of satisfaction renders proceedings unsustainable. The post Failure to Recor… Read More

Learn about Madras HC's decision on service tax imposition without hearing, advising appellate recourse. Details of the case provided. The post HC Directs Filing of Appeal for Service Tax Pe… Read More

NCLAT held that rights of allottees are safeguarded in CIRP, with RP empowered to make decisions regarding business operations. Details of the judgment provided. The post Allottees’ Ri… Read More

Explore the case of Bhagwan Laxman Rokde Vs ITO (ITAT Mumbai) regarding validity of reopening u/s.147, taxation on undisclosed income, and partnership firm transactions. The post Section 148… Read More

In the Mihir Parikh Vs ACIT case, ITAT Delhi clarifies taxation on maturity proceeds of assigned insurance policies under Sec 10(10D) of Income Tax Act. The post Section 10(10D) Tax Exemptio… Read More

In BCC Developers & Promoters Pvt. Ltd. vs Principal Commissioner of Central Goods And Services Tax, the Delhi High Court orders the transfer of GST credit from a non-migrated GST numbe… Read More

Analysis of Kishorkumar Bhalara Vs PCIT (ITAT Rajkot) case, where the ITAT ruled that incorrect assumption of facts alone is not sufficient to revoke jurisdiction under Section 263. The post… Read More

Discover the revised timelines and requirements outlined in the Master Direction – Reserve Bank of India (Filing of Supervisory Returns) Directions – 2024, impacting all NBFCs. T… Read More

In the case of ITO Vs Raj Maitry & Eskon Developer, ITAT Mumbai decides advance received from customers isn't income under section 68. Detailed analysis of the ruling. The post Advance f… Read More

Detailed analysis of Mahendra N. Patel Vs DCIT case where ITAT Ahmedabad nullifies penalty due to absence of misreporting or underreporting by the assessee. The post No Section 270A Penalty… Read More

Learn from PCIT Vs Radhashir Jewellery Co. Pvt Ltd. case why comparing new and established businesses in transfer pricing is inappropriate. Detailed analysis provided. The post Transfer Pric… Read More

In a case between D S Kulkarni & Associates and Manoj Kumar Aggarwal, NCLAT Delhi ruled that mere MoU & Ledger Extract are inadequate to claim financial debt, rejecting the appeal. T… Read More

Explore the significance of Financial Year End Reconciliation in Real Estate Regulatory Authority (RERA) compliance, including key sections, mandatory steps, and stakeholder considerations… Read More

Allahabad High Court asserts that if Enforcement Directorate (ED) doesnt provide an ECIR copy, it should inform summoned individuals about allegations. Details of the landmark judgment expla… Read More

Discover penalties for RERA non-compliance & recent cases by Karnataka RERA. Learn about penalties under RERA Act 2016, consequences, and compliance strategies The post Recent Penalties… Read More

Analysis of the Draft Digital Competition Bill, 2024 proposed by the Ministry of Corporate Affairs to regulate digital markets, tackle anti-competitive behavior, and ensure fair competition… Read More

In re Umed Club (GST AAAR Rajasthan) Introduction: The Appellate Authority for Advance Ruling (AAAR) in Rajasthan emphasized the necessity for the same members of the Authority for Advance R… Read More

The AAR Rajasthan ruling is set aside, remanding the matter back to reconsider in light of the High Court judgment on educational services taxation. The post Remand Order: Board of Secondary… Read More

Stay informed with the updated RBI Master Circular on Housing Finance for Urban Co-operative Banks (UCBs). Get insights into guidelines issued till March 31, 2024. The post Master Circular 2… Read More

Explore the comprehensive guidelines issued by the Reserve Bank of India regarding housing finance for commercial banks. Learn about regulations, loan quantum, innovative loan products, and… Read More

The total value of ₹2000 banknotes in circulation, which was ₹3.56 lakh crore at the close of business on May 19, 2023, when the withdrawal of ₹2000 banknotes was announced… Read More

Get insights on Trade Notice 01/2024-25 from DGFT regarding digitized ANFs and Appendices. Learn about online submission requirements for exporters and importers. The post DGFT Directives re… Read More

Understand the time limit for income tax return verification after uploading. Learn the implications of late verification and the prescribed ITR-V submission process. The post Time limit for… Read More

Telecom Regulatory Authority of India (TRAI) has today released a Consultation Paper on 'Inputs for formulation of National Broadcasting Policy-2024'. The post TRAI releases Consultation Pap… Read More