Understand bankruptcy orders – legal declarations indicating financial inability to repay debts. Learn implications, initiation, trustee roles, and legal basis for relief. The post Ban… Read More

Explore the grievance redressal mechanism by CPC Bangalore Income Tax Department. Learn about petition submission methods, officer contacts, and escalation procedures. The post CPC Bangalore… Read More

Learn how to file ITR-4 for FY 2023-24 (AY 2024-25) under the presumptive taxation scheme. Detailed analysis, eligibility, procedure, and tax implications explained. The post An Overview of… Read More

Explore the role of Artificial Intelligence (AI) in corporate governance and its impact on decision-making processes. Learn how AI augments boardroom functions and the legal considerations i… Read More

Cross-border insolvency can be construed as those insolvency matters where a debtor who has declared himself to be as insolvent has assets in more than one jurisdiction or country, and its c… Read More

Discover practical strategies to legally reduce your tax burden with our comprehensive guide. Learn tactics for optimizing deductions, managing income, and maximizing savings. The post Legal… Read More

Explore how the JNCH Customs exploit loopholes to hinder exporters despite CBIC & DGFT reforms. Learn about selective interpretations, legal precedents, and the quest for fairness. The p… Read More

Explore the complexities of cross-border insolvency, its significance, legal frameworks, and landmark cases like Jet Airways. Understand the UNCITRAL Model Law's role and India's regulatory… Read More

Explore the intricacies of personal guarantor liability in corporate insolvency under the Insolvency and Bankruptcy Code, 2016. Detailed analysis, landmark cases, and judicial interpretation… Read More

Welcome back to the captivating world of competition law! Dear adventurers, so far in the series, have you not wondered that how the CCI ensures a fair shot for small businesses against indu… Read More

Delve into the intricacies of slump sale as per Section 50B of Income Tax Act in India. Learn about its definition, tax implications, and key considerations for buyers and sellers. The post… Read More

Net Direct Tax collections (provisional) for Financial Year (FY) 2023-24 exceed Union Budget Estimates by Rs. 1.35 lakh crore i.e. by 7.40%Net Direct Tax collections (provisional) for the FY… Read More

Chhattisgarh High Court directs refund of excess 6% GST liability borne by contractors for works contracts within 4 months. Detailed judgment analysis. The post Chhattisgarh HC Orders Refund… Read More

Learn about the Telangana High Court's verdict on unsigned orders in tax cases, its implications, and the legal analysis provided by judicial precedents. The post Unsigned GST Order not sust… Read More

Punjab and Haryana High Court remands case over delay in appeal filing. Learn how the court calculated the limitation period based on the General Clauses Act. The post Pre-deposit after Dela… Read More

In a recent decision, ITAT Delhi permits bad debts claimed under section 36(1)(vii) by Oriental Bank of Commerce, setting aside CIT(A)'s order. The post ITAT Delhi Allows Bad Debts Claimed b… Read More

In the case of Shweta Sharma Vs SREI Equipment Finance Ltd., NCLAT Delhi upholds Section 7 application, proving debt and default, despite objections regarding arbitral award validity. The po… Read More

Learn about Karnataka High Court's ruling on excluding period of stay in arbitral tribunal proceedings for calculating twelve-month limitation under Section 29A(1) of Arbitration and Concili… Read More

Delhi High Court dismisses PIL challenging Arvind Kejriwal's authority as CM, citing publicity stunt. Detailed analysis reveals court's decision and legal intricacies. The post Delhi HC dism… Read More

In the case of Krishnamurthy Thiagarajan vs ACIT (ITAT Mumbai), AO's failure to record dissatisfaction u/s 14A led to ITAT allowing expenditure claim under Section 14A related to earning exe… Read More

Read the full text of the ITAT Delhi order in Prime Maxi Promotion Pvt. Ltd. Vs ACIT case, allowing deduction for additional compensation paid for land acquisition costs. The post ITAT Delhi… Read More

NCLAT Delhi ruling on Adisri Commercial Pvt. Ltd. Vs RBI & Ors. : Recall applications filed by Appellant are nothing but application to review judgment on merits which power is not veste… Read More

ITAT Mumbai grants relief to Tata Steel Limited, allowing deduction of interest paid on Perpetual Non-Convertible Debentures (PNCD) under section 36(1)(iii) of the Act.  The post ITAT… Read More

Insolvency And Bankruptcy Board of India Vs Satyanarayan Bankatlal Malu & Ors (Supreme Court of India) The recent Supreme Court ruling in the case of Insolvency And Bankruptcy Board of I… Read More

Explore intricate relationship between intellectual property rights (IPR) and economic growth in India. Learn about roles, impacts, and recent developments shaping IPR landscape. The post Na… Read More

Learn about appointment, roles, and limitations of a resolution professional in insolvency and bankruptcy process. Explore key insights and relevant cases. The post Role of a Resolution Prof… Read More

CIT - International Taxation Vs Qualcomm Incorporated Vs (Delhi High Court) Once a responsible officer of Department becomes aware of order, period of limitation would commence form that poi… Read More

Learn about the tax dispute between Diamond Manufacturing Management and the Indian Revenue Authority, involving fees for technical collaboration and the absence of Permanent Establishment… Read More

Discover the meaning of capitalization of expenses, types of expenses capitalized, criteria for capitalization, treatment in financial statements, and its impact The post Capitalization of E… Read More

In MS Siddh Sales Corp. v. State Of UP, the court sets aside an ex-parte order due to procedural irregularities, emphasizing the importance of fair hearings and adherence to the law The post… Read More

Explore the intricacies of buy-back provisions under Companies Act 2013, including eligibility criteria, process, timelines, and forms required for compliance The post Buy-Backs under Compan… Read More

Explore the recent developments in Intellectual Property Rights (IPR) in India, their impacts, challenges, and the strategic approach for businesses in leveraging IPR for growth The post Rea… Read More

Explore the concept of Inverted Duty Structure, Section 54(3) of the CGST Act, calculation of refund, exceptions, and eligibility criteria under GST law The post Inverted Duty Structure and… Read More

Trusts serve several functions and are a vital component of the Indian legal system. A legal arrangement known as a trust designates a trustee to hold assets on behalf of beneficiaries. Ther… Read More

For sweets and snacks manufacturers in India, understanding the correct Harmonized System of Nomenclature (HSN) codes is crucial for proper classification and taxation. This article provides… Read More

Introduction: The recent judgment by the Madras High Court in the case of Tvl. Vardhan Infrastructure and others vs The Special Secretary, Head of the GST Council Secretariat has significant… Read More

Evergreen Construction appeals an interim order directing a 20% pre-deposit of disputed unpaid interest, citing GST Act provisions. Calcutta High Court clarifies the statute's intent. The po… Read More

The Institute of Chartered Accountants of India (ICAI) announces the establishment of new branches in Muzaffarpur, Neemuch, Darbhanga, and Raigarh, expanding its regional presence. The post… Read More

The judgment by the Delhi High Court in the case of Ireo Fiveriver Pvt. Ltd. vs Income Tax Department & Anr. underscores the importance of upholding the sanctity of approved Resolution P… Read More

Explore the Rajasthan High Court's ruling on Sarrs Construction's refund of Input Tax Credit (ITC). Can the department recall granted refunds? Delve into the detailed analysis here. The post… Read More

Gujarat High Court held that demand notice issued after date of order of NCLT approving the resolution plan is liable to be quashed as claims which are not part of the resolution plan shall… Read More

Learn about SEBIs consultation paper proposing a framework for fair price discovery of shares of listed Investment Companies & Investment Holding Companies. The post SEBI Consultation Pa… Read More

Learn how non-filing of financial statements for 3 years led to penalties by MCA for a Bihar company. Detailed analysis, implications, and appeals process included. The post Non-filing of Fi… Read More

Learn about GST exemption on canteen facility recovery from permanent employees as ruled by AAR Gujarat. Detailed analysis and implications included. The post GST not payable on amount recov… Read More

Learn how the Madras High Court disposed of a case where erroneous reporting of Credit Notes led to negative taxable value, highlighting no loss to the government. The post Demand should not… Read More

Explore the role and significance of the Committee of Creditors (CoC) under the Insolvency and Bankruptcy Code (IBC) in India. Learn about its formation, composition, voting power, and decis… Read More

Discover the pros and cons of different legal and tax structures for incorporating a business in the US: C Corporation, S Corporation, and Limited Liability Company (LLC). The post Different… Read More

Explore the key provisions and procedures outlined in GujRERA Guidance-5 for bankers regarding the operation and maintenance of RERA bank accounts in Gujarat. The post Guidance for Bankers… Read More

Delve into the inception, framework, and salient features of Goods and Services Tax (GST) in India. Learn about its impact on businesses, tax harmonization, and economic integration. The pos… Read More

Explore the distinctions between sole proprietorship and One Person Company (OPC) under the Companies Act, 2013. Learn about registration, legal status, liability, taxation, and more. The po… Read More

Kerala High Court held that Section 149 of the Customs Act is an additional remedy available to the person who seek amendment of the Bill of Entry. Thus, modification of the assessment order… Read More

Madras High Court overturns GST orders due to lack of hearing. Read the full judgment of Tenkasi Shencottai Taluk Vs State Tax Officer. Legal analysis and conclusion provided. The post Madra… Read More

Delve into the detailed analysis of the appeal dismissal in the case of In re J B Exhibitors (GST AAAR Karnataka) regarding licensing services for film distribution. Understand the grounds… Read More

Explore the GST AAR Karnataka ruling on the exemption of supply of teachers and lecturers to BBMP schools, analyzing the applicability of CGST and SGST. The post GST exempt on Teachers &… Read More

Explore the ruling on input tax credit for construction materials & supplies in the case of V Chitti Babu under GST AAR Karnataka. Detailed analysis & conclusions provided The post I… Read More

Dive deep into the GST implications on Clinical Key subscription services provided by Elsevier BV. Learn about exemptions, rates, and legal interpretations. The post GST on Clinical Key Subs… Read More

Release of File Validation Utilities (FVUs) and Return Preparation Utility for e-TDS/TCS Statements File Validation Utility (FVU) e-TDS / e-TCS returns prepared for FY 2005-06 and onwar… Read More

Discover how Indian banks authorized by the RBI can import gold/silver directly through IIBX in the International Financial Services Centre (IFSC). The post RBI Authorization for Gold/Silver… Read More

Discover the reasons behind the recent surge in gold prices, from shifts in market dynamics to increased buying from Eastern countries like China and India. The post Gold Price shining- Know… Read More

Unravel the complexities of GST registration in India. Learn about eligibility, steps, benefits, challenges, and compliance for businesses venturing into the GST realm. The post Understandin… Read More

In Kanak Timber House v. Assistant Commissioner of Sales Tax, Calcutta High Court rules seized goods can't be released via writ petition, invoking sub-section (6) of Section 67 CGST Act. The… Read More

Learn from the detailed analysis of the Bombay High Court's decision in M/s. Agarwal Coal Corporation Pvt. Ltd. v. Assistant Commissioner of State Tax, setting aside an erroneous Show Cause… Read More

Read the detailed analysis of the Patna High Court's dismissal of a PIL challenging sections of the GST Constitutional Amendment Act. Understand the grounds and implications of the judgment… Read More

Explore the world of mutual funds with insights into various types like equity, bond, balanced, money market, and sector funds, helping you make informed investment decisions. The post Under… Read More

Understanding taxation for NRIs: Learn about residential status, taxable income, deductions, and the importance of Double Taxation Avoidance Agreements (DTAA) in India. The post Taxation for… Read More

Discover the truth about taxation in India: Only around 4% of the population pays income tax, a surprising statistic explained through detailed analysis and estimation. The post Percentage o… Read More

Department argued that it had not received the ITAT's order through proper channels, thus absolving itself of responsibility. However, the court rejected this argument, emphasizing that once… Read More

Explore the limited role of personal income tax in India, its impact on inequality, poverty, and tax structure changes. Is it feasible for emerging nations to forego redistribution via taxat… Read More

Delhi HC explains why NFAC cannot invoke Section 144B of the Income Tax Act if a claim is not lodged within the Corporate Insolvency Resolution Process (CIRP) timeframe. Detailed analysis ba… Read More

Madras High Court quashes order due to failure to respond to SCN, disparity in GSTR returns confirms GST demand. Detailed analysis & conclusion provided. The post HC directs Fresh order… Read More

Delhi High Court's judgment on Archit Khandelwal vs Pr. Commissioner of DGST Delhi regarding the retrospective cancellation of GST registration due to discontinuing business. The post Delhi… Read More

In the case of Dipak Kumar Agarwal Vs Assessing Officer, Allahabad HC rules that the power of the assessing authority to decide on the release of seized assets is not automatically abated af… Read More

Allahabad High Court sets aside assessment order due to inadequate notice, mandates fair hearing for house tax assessment. Full judgment analysis here. The post Allahabad HC Quashes House Ta… Read More

The court's deliberation highlights the absence of any challenge to the initial re-assessment order or its revision by the Commissioner. Furthermore, the judgment underscores the principle t… Read More

Learn how to avoid non-compliance under MSME for non-payment to small and micro enterprises. Understand the implications and strategies to protect your business. The post How to Avoid Non-Co… Read More

Analysis of Om Prakash Vs PCIT (ITAT Delhi) case reveals PCIT's jurisdiction limitations on tax issues under Land Acquisition Act Section 28. The post PCIT cannot assume revisional jurisdict… Read More

Discover the Madras High Court's decision on invisible loss under TNVAT Act, remanding the case for reconsideration. Analysis and implications discussed. The post TNVAT Section 19(9) Doesn&r&hell…Read More

Delhi High Court's verdict emphasizes that merely having a pending DRC-01 is insufficient to reject a taxpayer's request for GST registration cancellation. Read the full judgment here. The p… Read More

In Pawan Insaa Vs Directorate of Enforcement, Punjab and Haryana High Court rules ECIR cannot be quashed, citing legal precedents. Read the full judgment here. The post ECIR falls outside pu… Read More

Explore the Madras High Court judgment on Bajrang & Bajrang Vs State Tax Officer (FAC), emphasizing the responsibility of registered persons to monitor the GST portal. The post Madras HC… Read More

Under GST RCM, learn if SEZ units like Waaree Energies Limited need to pay tax on certain services. Analysis of relevant notifications and rulings provided The post SEZ Units Exempt from GST… Read More

Explore the GST ruling on tax liability for SEZ units regarding advocate services under Notification No. 10/2017-IT(Rate). Understand the implications and legal provisions. The post Tax Liab… Read More

Understand the GST classification of insulating bare M.S. pipes using PU Foam and PE Film/HDPE jackets. Detailed analysis of AAR Gujarat's ruling and its implications. The post GST on Insula… Read More

Explore the CESTAT Delhi order on the admissibility of Section 108 statements under the Customs Act, revealing violations and penalties against GND Cargo Movers. The post Section 108 Customs… Read More

Read the detailed analysis as Patna HC dismisses PIL challenging provisions of 101st Constitutional Amendment for enacting GST laws. Understand the judgment's impact and implications. The po… Read More

Delhi High Court rules that GST registration can't be cancelled solely due to non-filing of returns, emphasizing the need for objective criteria. Read the detailed judgment here. The post GS… Read More

Read the Kerala High Court judgment on allegations of non-repatriation of export proceeds by Frontline Exports Pvt Ltd. Analysis and outcome included. The post Custom duty demand for alleged… Read More

Telangana High Court nullifies State GST Dept's demand order for Dott Services Ltd., citing parallel proceedings by Central GST Authority. Full text judgment included. The post Telangana HC… Read More

Understand the types of charges on property, including equitable, legal, fixed, and floating charges. Learn how these charges act as security interests and the legal frameworks governing the… Read More

Explore the detailed analysis of Jai Parkash Vs PCIT (ITAT Delhi) case where the assessment jurisdiction dispute regarding interest received under section 28 of the Land Acquisition Act was… Read More

Check the latest exchange rates for importing and exporting goods, as per Notification No. 30/2024 by the Central Board of Indirect Taxes and Customs The post Customs Exchange Rates effectiv… Read More

SEBI issues a circular mandating standardization of Private Placement Memorandum (PPM) Audit Reports for Alternative Investment Funds (AIFs) to ensure uniform compliance and reporting ease… Read More

Join the discussion on MCA's proposed changes to Insolvency and Bankruptcy Code rules. Learn how to participate and share your insights! The post Notice inviting comments, by MCA, on review… Read More

Bombay High Court quashes recovery proceedings against a company director for GST recovery from personal property, citing constitutional violations. The post Bombay HC Quashes GST Recovery P… Read More

Understand the significance of e-invoicing, its implementation, prerequisites, and FAQs. Learn how to generate e-invoices, its benefits, and clarifications to avoid penalties. The post E-Inv… Read More

Explore the definitions of common areas in real estate under RERA and the Apartment Ownership Act, their similarities, differences, and implications for property owners and developers. The p… Read More

Learn from the case of M/s Oasys Cybernetics Pvt Ltd vs State Tax Officer how erroneous reporting in GST filings can impact demands, even without revenue loss to the Government. The post Err… Read More

Maximize GST compliance and optimization for FY 2024-25 with this comprehensive guide. From LUT renewal to ITC reconciliation, ensure seamless operations and mitigate risks. The post Compreh… Read More

Explore the nexus between tax avoidance and inequality in India. Learn how legal loopholes deepen economic divides and discover strategies to address this pressing issue. The post Tax Avoida… Read More

Explore the interplay between taxation and social equity in India. Learn how progressive tax policies and targeted measures can address income disparities and promote economic opportunity fo… Read More