The Customs, Excise and Service Tax Appellate Tribunal CESTAT ruled that cross-model discount utilization by Toyota Ltd. was inadmissible due to a time-barred excise demand. The…
31/07/20241 min read
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The Customs, Excise and Service Tax Appellate Tribunal CESTAT ruled that cross-model discount utilization by Toyota Ltd. was inadmissible due to a time-barred excise demand. The…
In a recent ruling, the Income Tax Appellate Tribunal ITAT criticized both the Assessing Officer AO and the appellate authority for their failure to properly examine the facts on…
The Supreme Court has ruled that entertainment tax on cinema tickets is restricted to the price of the ticket itself and does not extend to online booking fees. This decision…
The Supreme Court of India ruled that the fees charged by State Bar Councils for enrollment, including miscellaneous fees, are categorized as enrollment fees. This decision stems…
The Madras High Court recently ruled that failure to submit oral or documentary evidence can confirm GST liability. In the case, the court found that the taxpayer did not…
The Supreme Court ruled that the Bar Council of India must not charge more than Rs 750 as enrollment fees for general category advocates and Rs 125 for SC/ST advocates. This…
The Income Tax Appellate Tribunal ITAT has permitted a weighted deduction under Section 35 2AB of the Income Tax Act for expenses related to clinical trials. This decision…
The ITAT ruled that taxpayers can claim a deduction under Section 54F of the Income Tax Act for long-term capital gains LTCG when investing in residential property. The deduction…
The article discusses potential delays in income tax refunds due to the income tax department's increased scrutiny of returns through artificial intelligence AI this year. The AI…
The RBI has announced new regulations to enhance the monitoring of cash transactions at banks. These measures are aimed at curbing money laundering and ensuring that cash…
The Indian government has revised the Basic Customs Duty BCD and Additional Customs Duty AIDC rates in Table 2 of the India-UAE Comprehensive Economic Partnership Agreement CEPA .…
SEBI has introduced SEVA, a chatbot designed to assist investors with their queries. This initiative aims to enhance investor support by providing quick and accessible help on…
In a recent ruling, the Customs, Excise, and Service Tax Appellate Tribunal CESTAT provided relief to Bikanervala Foods by determining that their activities of takeaway and home…
The Madras High Court ruled that a GST liability confirmed due to non-furnishing of documents, which were not requested by the authorities, is invalid. The petitioner, M/s…
The Delhi High Court has ruled that taxpayers engaged in educational and charitable activities under Section 2 15 of the Income Tax Act are eligible for tax exemption. This…
The Customs, Excise, and Service Tax Appellate Tribunal CESTAT ruled that SBI Cards and Payment Services Ltd. is not entitled to a refund of the Krishi Kalyan Cess KKC . The…
The Karnataka High Court has directed the Income Tax Department to approach the Sessions Court under Section 415 3 of the BNSS due to an insufficient sentence in a recent case.…
The Directorate General of Foreign Trade DGFT has put a hold on a public notice regarding permissible wastages for jewellery exports until August 31, 2024. This pause allows…
The Income Tax Appellate Tribunal ITAT ruled that employers must deposit employees' Provident Fund EPF and Employees' State Insurance ESI contributions on time to claim deductions…
Union Minister Nitin Gadkari urged Finance Minister Nirmala Sitharaman to remove the GST on life and medical insurance premiums. This follows a plea from the Nagpur Divisional…
The 2024 budget addresses a tax loophole for property owners. The government plans to tax the notional rent on properties held as stock-in-trade, even if unsold. Previously,…
The Indian government has established a fund to support Micro, Small, and Medium Enterprises MSMEs amidst the controversial 45-day payment rule. This rule mandates buyers to pay…
SEBI has imposed a three-year ban on Vijay Mallya, preventing him from participating in the securities market due to his involvement in market manipulation. This decision follows…
The Reserve Bank of India RBI has imposed penalties on several financial entities for various violations. Ola Financial Services and Manappuram Finance were fined for…
SEBI has imposed a penalty of ₹5 lakh on HSBC Asset Management for failing to maintain adequate documentation on investment decisions. The Securities and Exchange Board of India…
The Institute of Chartered Accountants of India ICAI has amended Accounting Standard AS 22, addressing deferred tax accounting for non-company entities under the OECD/G20's Pillar…
In a recent ruling, the NCLAT Delhi clarified that applications filed under Sections 7, 9, and 10 of the Insolvency and Bankruptcy Code IBC before the 2021 Amendment Act will…
Justice Sharad Kumar Sharma has recused himself from hearing an insolvency appeal involving Byju Raveendran due to a conflict of interest. The appeal is related to the insolvency…
The Bombay High Court ruled that an arbitration agreement's validity persists even if the main contract is terminated. The doctrine of separability allows an arbitration clause to…
The Telangana High Court addressed the issue of whether the legal heirs of a deceased party to an arbitration agreement can be considered legal representatives under Section 21G…
In a recent ruling, the Karnataka High Court affirmed that the principle of lis pendens, which maintains that property subject to litigation cannot be transferred or encumbered,…
The Delhi High Court ruled that in ad hoc arbitration, arbitrators must separately calculate fees for claims and counterclaims. This decision clarifies that arbitrators cannot…
The Gauhati High Court recently ruled that writ jurisdiction cannot be invoked when an arbitration clause exists in a contract, except in specific circumstances. This decision…
In a recent judgment, the Madras High Court set aside an arbitral award due to the unilateral appointment of an arbitrator and the lack of notice to the opposing party. The court…
In a recent Calcutta High Court case, the court found that an arbitration award granting compensation for excess work and business loss lacked sufficient evidence, labeling it as…
The Delhi High Court recently ruled that Article 23A of Schedule IA of the Indian Stamp Act applies to agreements for the sale of immovable property under Section 53A of the…
In a recent decision, the Ernakulam District Consumer Disputes Redressal Commission ruled in favor of a complainant who had issues with a Honda motorcycle purchase. The case…
The NCDRC National Consumer Disputes Redressal Commission recently ruled against the New Delhi Institute of Management Studies NDIMS for misleading a student who joined their MBA…
A Ludhiana District Commission found that Behrouz Biryani, ordered via Swiggy, failed to deliver the vegetarian biryani as requested and instead sent non-veg biryani. The…
In a recent ruling, the Karnataka Real Estate Regulatory Authority RERA directed Ozone Elegant Developers to compensate a homebuyer with interest for the delay in possession of a…
In June 2024, India's GST revenue collections showed a robust performance, with gross revenue totaling ₹1,65,456 crore, marking a significant increase of 12% compared to the same…
The Allahabad High Court has directed the GST Department to reconsider its decision imposing an Input Tax Credit ITC liability on a taxpayer. The department had rejected the goods…
The ITAT has ruled in favor of granting TDS Tax Deducted at Source exemption for income from technical services received from abroad for project work under Section 91 1 b of the…
The Indian government has notified the establishment of disciplinary and appellate authorities for Group B and C positions within the Goods and Services Tax Appellate Tribunal…
The deadline for filing Income Tax Returns ITR for FY 2022-23 is approaching, with only one day left. Missing this deadline can lead to several consequences, including a late fee…
The National Company Law Appellate Tribunal NCLAT affirmed the jurisdiction of the Adjudicating Authority to determine the fees and expenses of Resolution Professionals RPs . The…
The Delhi High Court ruled that revoking a customs broker's license does not prevent the customs department from initiating penalty proceedings against the broker. In this case,…
The Delhi High Court overturned the Income Tax Department's decision to deny tax deductions claimed by Mitsui & Co. India Pvt. Ltd. for salaries paid to expatriate employees. The…
Hyderabad's Central Crime Station CCS has filed an FIR against former Telangana Chief Secretary Somesh Kumar and others for alleged GST violations involving over Rs 1,000 crore.…
The Finance Ministry of India clarified that it is not mandatory for all individuals traveling abroad to obtain a tax clearance certificate. This clarification follows confusion…
The Customs, Excise and Service Tax Appellate Tribunal CESTAT ruled that cross-model discount utilization by Toyota Ltd. was inadmissible due to a time-barred excise demand. The…
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