Highlights

TaxCorp News 
Pr Secretary to PM chairs meeting on air pollution in Delhi-NCR
Goyal attends series of meetings on first day of Australia visit
IPEF partners commit to continued progress at virtual Ministerial Meeting
EC reviews poll preparedness for assembly elections in Jharkhand
Centre forms panel for Repairability Index in Mobile and Electronics Sector
SC disposes off 573 direct tax cases based on revised monetary limit
Goyal inaugurates Invest India's Singapore Office
India attends IPEF Supply Chain Council meeting at Washington DC
RM formally inaugurates Sainik School, Jaipur
National Electricity Plan 2023 to 2032 for Central and State Transmission Systems finalised
FM goes on official visit to Uzbekistan; to ink BIT
Department of Commerce focuses on streamlining processes for exporters
ARIES, BEL ink MoU for Space Situational Awareness
Adopting LiFE globally to reduce carbon emissions by 2 bn tonnes by 2030: India
GeM announces drastic reduction in transaction charges
EY employee's death: NHRC takes suo motu cognizance
Vivad Se Vishwas Scheme offers lesser settlement amounts for new appeallant
Goyal to participate in 21st ASEAN-India Economic Ministers meeting
RM flags-in Open Water Swimming Expedition to 21 Islands of Andaman & Nicobar
DFS drives expansion of digital payments in India and abroad
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HC : Delhi High Court Decides on the Validity of TOLA Authorisation in Omnipresent Credits Case Following Reassessment Procedures

HC : Legal Controversy Over TDS Demand Resolved: Bombay HC Dismisses Hindustan Unilever's Writ Petition of ₹963 Crores Relating to Trademark Acquisition

ITAT : Mumbai ITAT Denies Depreciation Claim on Toll Road, Affirms Ownership Precondition

HC : Bombay High Court Upholds Assessee’s Rights, Overturns Commissioner’s Rejection of Revision Application

ITAT : Abolishing Revenue's Claim: ITAT Upholds Expenditure as Deductible for Business Operations

ITAT : Chennai ITAT Determines Estimated Profits Are Sufficient; Further Disallowances Under Tax Codes Unwarranted

HC : Calcutta High Court Upholds Deduction under Section 80IA(4) for Port Infrastructure Development, Affirms Validity of Agreements with Nodal Agencies

ITAT : Mumbai ITAT Rules in Favor of Assessee: Interest on Perpetual Debentures Qualifies as Business Expenditure Under Section 36(1)(iii)

ITAT : ITAT Special Bench Rules on Capital Gains Tax: Long-Term Assets Taxed at 20% Rate under Section 112

ITAT : Bangalore ITAT Declares Penalty Imposition under Section 270A Invalid: Revenue Fails to Prove Under-reporting or Mis-reporting of Income

ITAT : Chennai ITAT Invalidates Section 153C Notice for AY 2012-13: Clarity on Incriminating Material Requirement and Receipt Date

HC : Bombay High Court Upholds Assessee's Income Classification as Business Profits in Property Leasing Case

HC : Bombay High Court Mandates Timely Hearing of Long-Pending Tax Appeals; Displeasure Expressed Towards CIT(A)

ITAT : Chennai ITAT Invalidates Tax Deduction Requirement on Marketing Fees Paid to Foreign Agents

ITAT : Tax Implications Affirmed: Mumbai ITAT Grants Foreign Tax Credit to Amarchand Mangaldas

ITAT : Chennai ITAT Rules in Favor of Assessee, Overturns Revenue's Rejection of Weighted Deductions for Scientific Research Expenditures

HC : Gujarat HC Critiques Revenue Authorities' Inaction on Appeal Pendency, Halting Recovery from Assessees

ITAT : ITAT Cuttack Rules in Favor of Assessee, Challenging DVO's Delayed Submission of Valuation Report in Capital Gains Case

HC : Taxpayer's Cross-Border Tax Obligations: Canada Revenue Agency Pursues Tax Collection from US-Based Ms. Ryckman

SC : Supreme Court Rejects Revenue's Appeal Over Delay in Tax Dispute, Upholding ITAT Ruling on Foreign Deposits

SC : SC Confirms Deductibility of 'Broken Period' Interest to Banks: Significance of Securities as Stock-in-Trade

SC : Supreme Court Affirms High Court's Ruling on Reassessment of Share Premium Taxability: No Grounds Found for Income Escapement

ITAT : ITAT Bars Rs. 2 Cr Addition to Tourism Corporation of Gujarat, Upholds Income Recognition Policy

ITAT : Legal Decision on Claims for Deductions Following a Search Operation: ITAT Hyderabad Ruling

HC : CBDT's Authority Upheld: ACIT/DCIT (Intl Tax) Empowered to Issue Sec. 143(2) Notices

ITAT : Ahmedabad ITAT Voids CIT(A) Order for Erroneous Non-Adjudication on Merits Related to Advance Tax Payment Condition Under Section 249(4)(b)

ITAT : Mumbai ITAT Rules Amalgamation Capital Reserve as Non-Taxable Capital Receipt

FC : Austrian Tax Resident Seeks Clarity on Withholding Tax on International Airline Income

ITAT : Mumbai ITAT Reinstates Assessee's Appeal, Criticizes CIT(A) Overreach in Tax Order

ITAT : Mumbai ITAT Determines Non-Binding Nature of Tribunal Findings Under Black Money Act; Mandates Disclosure of Foreign Assets by Assessees

HC : Bombay High Court Reinstates Assessing Authority's Duty to Entertain Appeals for Local Body Tax Without Pre-Depositing Interest and Penalty

HC : Madras High Court Emphasizes Higher Threshold for Suspension Orders of Quasi-Judicial Officers in GST Dispute

HC : Calcutta High Court Quashes Show Cause Notice; Clarifies Jurisdictional Boundaries Between State and Central Authorities in GST Proceedings

HC : Gujarat High Court Grants Bail in High-Profile Input Tax Credit Fraud Case Involving 38 Non-Existent Firms

CESTAT : Yuvraj Singh Not Liable for Service Tax on Earnings from Brand Promotion and TV Show Participation, States CESTAT Chandigarh

CESTAT : CESTAT Delhi Exempts Individual Contractor from Service Tax for Works Contract Services Provided to MANIT

HC : Madras High Court Quashes Penalty for Minor Discrepancy in Tax Invoices and E-Way Bill

HC : Madras High Court Evaluates Rectification Application on Assessment Orders Amid GST Discrepancies

CESTAT : CESTAT Chennai Upholds Classification of Product under CTH 8467 2900, Barring Assessee from Challenge

HC : High Court of Madhya Pradesh Upholds Supreme Court's Judgment on ITC Eligibility for Leasing of Buildings in Safari Retreats Case

HC : High Court of Telangana Permits Mercedez to Appeal Without Pre-Deposit Amid Tax Classification Dispute

HC : Bombay High Court Overturns Revenue Orders Denying GST Refunds for Certain Export Periods; Compliance with Rule 92(3) Issued as Crucial Guideline

HC : Madhya Pradesh High Court Overturns Cancellation of GST Registration Due to Flawed Show Cause Notice Process

HC : Bombay High Court Directs Assessee to Pursue Appeal for Transitional Credit Claims Post-2024 Finance Act Amendment

CESTAT : Unraveling Precedent Value: CESTAT Allahabad Reinstates Assessee’s Position Against Erroneous Remand by Commissioner (A)

HC : Bombay HC Invalidates Interest Order by JDGFT Against Exporter for Iron Ore Violations, Upholds Jurisdiction Limitations Under FT Act

SC : Supreme Court Confirms Rajasthan HC Ruling on ITC Reversal but Rejects Revenue's Penalty Claim Against Tata Motors' Dealer

SC : Supreme Court Rejects Revenue's SLP, Upholds Karnataka HC Ruling on Service Tax Exemption for Venture Capital Funds Managing Investors’ Assets Under Trust Structure

SC : Bogus ITC Claims Under Scrutiny: Supreme Court Upholds Revenue’s Appeal Against Karnataka HC Ruling

HC : Gujarat HC Overturns Tribunal's Dismissal of Second Appeal, Restores Assessee's Challenge Against Dy. Commissioner's Orders

HC : Bombay High Court Overturns AAR and AAAR Decisions, Upholds Input Tax Credit for LNG Pipeline as Constitutionally Valid

SC : Interchange Fee Taxation Ruling: Supreme Court Affirms No Separate Service Tax Liability Amid Consistent Revenue Collection

SC : State Legislature's Authority on Industrial Alcohol Affirmed by SC: A Landmark Ruling on Intoxicating Liquors

HC : Calcutta HC Preserves Interim Relief on Tax Demand Until December 2024 Pending Further Proceedings

HC : Calcutta High Court Overturns Single Bench Ruling on TRAN-01 Credit: Fresh Hearing Ordered

HC : Calcutta High Court Addresses Appeal Rejection Due to Absence of Appellate Tribunal, Mandating Detailed Review by Appellate Authority with Pre-Deposit Requirements

CESTAT : CESTAT Ahmedabad Vindicates Assessee’s Right to Refund on Service Tax for Ocean Freight Charges

HC : Bombay HC Upholds Tax Demand Order with Interest and Penalty; Assessee's Appeal Withdrawal Raises Questions on Limitation Period

HC : Fake GST Registration Scandal: Allahabad HC Denies Bail in Mass Fraud Case Involving Crores in Losses

HC : Punjab & Haryana HC Upholds Validity of SCN Issued under CGST Act, Dismissing Jurisdictional Objections of Assessee Company

Income Tax - Section 144C - ITAT Upheld Red Hat India's Revenue Recognition and Service Fees Assessment - The decision rendered by the ITAT reaffirms the cardinal financial principle that income accrues only when adequate services have been provided, reinforcing established revenue recognition policies within a structured legal framework. It is essential for assessees, particularly those engaged in profound international transactions and services, to maintain accurate documentation and records of service rendered to shore up their revenue claims during assessments.

Income Tax - Sections 143(3), 144C - Final Assessment Order Invalidated Due to Statutory Limitation Period - The ITAT’s ruling decisively highlights the necessity for tax authorities to comply strictly with statutory timeframes when issuing final assessment orders. Tax professionals and their clients must recognize that failure to follow prescribed procedures can invalidate assessment outcomes, underscoring the importance of rigorous compliance with all legal timelines.

Income Tax - Sections 56(2)(viib), 263 - ITAT Rules Against PCIT's Revision of Fair Market Value of Shares; Upholds AO's Assessment - This ruling underscores the necessity for the PCIT to clearly articulate the grounds of action when invoking Section 263 and demonstrates the stringent criteria needed for an order revision. Assessees should ensure thorough documentation and transparency in justifying fair market valuations to safeguard against unwarranted revisional actions.

Income tax - Sections 9(1)(vi), 40(a)(i), 195 - Sales Commission Paid to US Subsidiary Not Taxable as FTS: ITAT Bangalore Reverses AO's Order - The ITAT’s ruling is paramount for companies engaging in cross-border transactions, particularly those compensating foreign subsidiaries for marketing and sales services. The decisive clarification that such payments are not classified as FTS under both national and international tax frameworks urges a reevaluation of tax compliance strategies within similar business structures. Companies in analogous situations should review their tax treaties and existing compliance mandates to mitigate the risk of unwarranted tax liabilities.

Income Tax - Section 260A - High Court of Delhi Upholds TNMM in Rejection of TPO's Altered Transfer Pricing Method for SABIC Group Support Services - This decision underscores the criticality of adhering to consistent transfer pricing methodologies across assessment years, thereby ensuring a stable commercial landscape. For assessees engaged in international transactions, this ruling highlights the importance of meticulously documenting the rationale behind the selected transfer pricing methods, particularly when deviations from established practices are proposed.

Income Tax - Sections 195, 201 - ITAT Confirms Exemption for Interest Payments to China Development Bank Under India-China DTAA - The ITAT's ruling asserts that interest payments made to the China Development Bank are exempt from taxation under the India-China DTAA Article 11(3). Consequently, assessees making such payments are not liable for tax deductions under Section 195 of the Income Tax Act, ensuring clarity in the application of tax laws pertaining to international agreements. Taxpayers should align their tax management practices with this ruling, securing their positions through proper documentation reflecting the nature of their transactions with CDB.

Legal Crux of Dispute Over Network Fees as FTS or Business Income Resolved by ITAT-Mumbai - The Tribunal's decision clarifies the treatment of network fees within the realms of FTS and business income. Taxpayers must ascertain whether income classifications align with their operational presence in India. Given the Tribunal's reliance on precedent, tax practitioners should highlight and utilize previous favorable judgments for clients facing similar income classification issues. Assessees should ensure compliance while firmly establishing the absence of a PE when structuring their fees to optimize tax exposure.

Income Tax - Sections 5(2), 10(38), 250 - Supreme Tribunal Rules Non-Resident Status Protects Assessee from Indian Taxation on Foreign Earnings and Stock Options - In light of the ITAT’s judgment, it is imperative for non-resident assessees to fully understand the implications of their residency status in relation to income earned outside India. The tribunal’s finding clarifies that expatriates working abroad aren't liable for income accrued there, which bolsters arguments for proper tax planning in similar contexts. It is advisable for non-residents to maintain thorough documentation and seek professional guidance when claiming exemptions under applicable DTAAs.

Income Tax - Sections 44BB, 142(1), 143(2), 144C - Non-Resident Brazilian Company Excluded Service Tax from Income Computation: ITAT Reiterates Established Legal Principles - The Tribunal's ruling decisively maintains that service tax collected by non-resident assessees, acting under section 44BB for the computation of income arising from business activities, is not part of the taxable income. This serves to protect the assessee's interests and reinforces a longstanding principle in the interpretation of tax obligations under special provisions related to the extraction of mineral resources.

Income Tax - Section 144C - Legal Crux of ITAT-DELHI Ruling on Interest Accumulation and Fair Hearing Rights - The ITAT’s decision to restore the matter to the TPO serves as a judicial affirmation of the need for transparency and fairness in tax assessment processes. It highlights that the principles of natural justice must be respected, and that any failure in providing an adequate opportunity to the taxpayer can lead to the nullification of the assessment order. Consequently, assessees must ensure they are prepared to present their case effectively and assertively advocate for their rights during all stages of tax proceedings.

Income Tax - Sections 44DA, 144C, 148 - Significant Ruling on Royalty Income and Permanent Establishment in ITAT-Mumbai: Key Legal Precedents Favor Assessee - The recent ruling by the Tribunal offers a substantial reprieve for the assessee and underscores the significance of consistent legal precedent in tax assessments involving non-residents. The affirmation of no Permanent Establishment and the prior rulings concerning business connections ultimately validate the necessity for tax authorities to substantiate claims of income attributable to a PE with rigorous evidence. The decision also delineates clear boundaries on royalty income taxable under Section 44DA.

Income Tax - Sections 115JB, 143(3A), 143(3B) - High Court Upholds Tribunal's Ruling on Transfer Pricing, Warranty Provisions, and CSR Expenses for Sony Distributor - The High Court's decision demonstrates a robust endorsement of the Tribunal’s reasoned approach regarding transfer pricing, warranty provisions, and corporate social responsibility expenses. It sets a clear precedent limiting TPO discretion to examine the efficacy of commercial transactions while mandating that any adjustments to taxable income or book profits adhere strictly to the specifications outlined in the tax statutes.

Delhi High Court Upholds Transfer Pricing Decisions, Affirms Consistency in Approach for Associated Enterprises - The verdict emphasizes the necessity of maintaining consistent transfer pricing methodologies across assessment years when no alteration in underlying facts is presented. The declarative stance taken by the court reinforces the principle of predictability and uniform application of arm's length pricing norms in international trade, highlighting the importance for taxpayers to align their transfer pricing strategies therein. It is actionable for assessees to consider closely the consistency of their selected methodologies in line with the precedents established in actionable rulings.

High Court of Delhi Rules Against TPO's Rejection of Arm's Length Interest Rate - The judgment by the Delhi High Court underscores the importance of rigorous substantiation from tax authorities when presenting comparative analyses in transfer pricing scenarios. It establishes that taxpayers have the right to challenge and seek clarifications on the methodologies and assumptions utilized by the TPO, if such analyses lack transparency or explicit rationale. Going forward, it is crucial for taxpayers engaging in international transactions to ensure their financial arrangements are documented and supported by adequate economic analyses in order to substantiate their arm's length claims effectively.

Court Rebukes TPO's Comparable Entity Selection in Transfer Pricing of Software Companies - The current legal decision underlines the necessity for rigorous evaluation of comparables in transfer pricing methodologies. Assessees must meticulously justify their choice of comparables while ensuring a comprehensive understanding of the operational income sources. Tax professionals should utilize this ruling to advocate for proper scrutiny against selective comparability, ensuring that entities are accurately categorized, which will enhance robustness in future Transfer Pricing Studies.

Income tax - Section 250 - Tax Credit Entitlement Upholds: ITAT Rules in Favor of Assessee on TDS Withheld by Japanese Entities - This ruling underscores the importance of Foreign Tax Credits (FTC) for assessees engaged in providing cross-border services. The ITAT's affirmation of the assessee's entitlement to FTC on TDS withheld in Japan clarifies that even if there’s a divergence in the interpretation of tax treaty applications between the residence country and the source country, a reasonable tax deduction at source warrants the provision of a tax credit in the home country. Assessees must ensure that they document and substantiate their tax credits owing to withholding in foreign jurisdictions to withstand scrutiny during assessments.

Income Tax - Section 144C - ITAT-Hyderabad Rules Assessment Orders for 2018-19 and 2019-20 Barred by Limitation under Income Tax Act - The Tribunal’s decision underscores the critical importance of adhering to statutory limitations in the assessment process. It emphasizes the necessity for Assessing Officers to observe procedural timelines rigorously to ensure the validity of assessment orders.

Income Tax - Sections 133(6), 144C - Corporate Guarantee Commission: ITAT-Mumbai Upholds 0.5% ALP for Engineering Firm’s Transaction - The ITAT's ruling underscores the requirement of charging a reasonable fee for corporate guarantees extended to associated enterprises, affirming a 0.5% arm's length price as reasonable based on judicial precedents. Therefore, corporate entities similar to the assessee should ensure that structures surrounding inter-company financing arrangements, including guarantees, are aligned with established market benchmarks to avoid tax adjustments.

Income Tax - Sections 92CA, 144C, 153(1) - ITAT-CHENNAI Finds Assessment Order Time-Barred Due to Limitation Breach, Upholding CIT (A)'s Decision - The ITAT-Chennai's ruling reinforces the criticality of adhering to statutory time limits set forth by the Income Tax Act and accompanying notifications by the CBDT. Assessing authorities must ensure compliance with these timelines to maintain the integrity of the assessment process. Consequently, taxpayers should diligently monitor their assessment deadlines and the enforceability of notifications and extensions to protect their rights against time-barred assessments.

Delhi High Court Resolves Permanent Establishment Taxation Disputes: Affirms Independent Taxability Amidst Global Losses - The High Court's ruling articulates a clear stance on the independent tax obligations applicable to Permanent Establishments, ensuring that tax liability is exclusively linked to income generated within the host state. This pivotal decision underscores the significance of robust tax planning and adherence to the stipulations of the DTAA, providing essential guidance for multinational enterprises operating through PEs in India. Entities must ensure their local compliance by accurately attributing income to their PEs, irrespective of global financial trends.

Digital Signatures Not Mandatory for Form CHG-1 Processing in Charge Registration: Delhi High Court Ruling - The Delhi High Court's decision emphasizes the impermissibility of demanding digital signatures from a non-compliant company regarding the registration of charges under Section 78. Charge holders are thus afforded greater protection when companies fail to comply with statutory requirements, promoting accountability without unnecessarily infringing on the rights of creditors. Notably, this ruling encourages stakeholders to proceed swiftly in charge registration processes, ensuring awareness of their rights when encountering non-cooperative corporate entities.

High Court of Delhi Declines Jurisdiction in Arbitration Case Concerning Construction Dispute Over Property in Tamil Nadu - The High Court of Delhi concluded that it lacked territorial jurisdiction to hear the petition, given that all parties were situated in Tamil Nadu, and relevant legal actions had already been initiated there. The court's decision reinforces the necessity of adhering to established jurisdictional boundaries, especially in the context of arbitration and related disputes.

Delhi High Court Quashes Bank's Classification of Petitioner as Fraud, Violating Principles of Natural Justice - The Delhi High Court’s decision underscores the critical importance of adhering to procedural fairness and the principles of natural justice when determining classifications of fraud within banking systems. Moving forward, it is imperative for banks to ensure that proper notices and hearings are conducted before making such classifications, aligning with judicial precedents and maintaining transparency in their operations.

The Delhi High Court Directs RBI to Intervene in Exclusive Capital Limited's Operations Amid Concerns of Mismanagement and Non-compliance - In light of the current decision, it is evident that there is an imperative need for stricter oversight of corporate governance practices within Exclusive Capital Limited. The RBI must be compelled to act decisively where management failures are evident, and statutory compliance is neglected. This ruling not only reinforces the necessity for adherence to statutory regulations but also underscores the judiciary's role in ensuring that regulatory authorities fulfill their mandates effectively. Stakeholders are advised to remain vigilant in monitoring compliance-related issues and advocate for these regulatory inquiries to safeguard their interests.

Res Judicata Binds Appeal as Department of Expenditure Declared Not an Enterprise Under Competition Act - Following this decision, it is incumbent upon parties considering similar claims to evaluate the principles of res judicata rigorously before proceeding with appeals. The explicit rulings regarding the categorization of an entity as an enterprise and the nature of any memorandum for competitive practices reaffirm the importance of legal precedents. A strategic approach for potential appellants would involve invoking past judicial outcomes and ensuring that claims are distinctly new or substantially altered from previously adjudicated matters to avoid dismissal.

NCLT Directs Majority Shareholders to Purchase Minority Stake at Agreed Valuation Amidst Allegations of Oppression - In light of the NCLT's ruling, minority shareholders must be vigilant and proactive when engaging in negotiations involving their stakes. The Tribunal's directive for the fair valuation of shares paves the way for equitable treatment within corporate governance structures, reinforcing their rights against potential oppression by majority stakeholders. The clear action to seek judicial relief under Section 242 of the Companies Act exemplifies the necessary legal recourse available for minority shareholders facing inadequacies in fair treatment.

Legal Crux of NCLT Decision: No Justifiable Relief for Petitioner Post Director Termination - The NCLT reaffirmed the principle that not every removal or termination of a director triggers sections 241 and 242's relief provisions. The decision serves as a reminder that valid grounds for claiming oppression or mismanagement must be well-founded and demonstrable, especially when the petitioner had significant control of the company's operations. Future petitions should be carefully evaluated for procedural validity and the genuine nature of the grievances claimed.

Delhi High Court Upholds Actions of Interim Resolution Professional to Protect Corporate Debtor’s Assets Amidst Intervention by Greenopolis Welfare Confederation - The Delhi High Court's ruling emphasizes the critical role of the Interim Resolution Professional in safeguarding the assets of a corporate debtor amidst insolvency proceedings. Stakeholders should note that the Court's endorsement of specific interim measures reflects a prioritization of asset protection, which is crucial for the viability of the corporate debtor. It is thus imperative for the IRP to adhere to the judicial directives and submit the compliance report as mandated, ensuring transparency in the resolution process.

Tribunal Grants Time for Amendment in Oppression and Mismanagement Petition - The Tribunal ruling emphasizes the necessity for petitioners to adhere to set deadlines, particularly when requesting amendments to legal petitions. The persistent nature of extensions can lead to delays in the judicial process, thereby necessitating stricter adherence to timelines. Thus, parties involved in similar proceedings should ensure preparedness to submit requisite amendments punctually, in anticipation of stringent deadlines set forth by the Tribunal.

Sections 232, 230 of the Companies Act, 2013 - NCLAT Overturns Amalgamation Rejection of Public Limited Companies; Affirms NCLT Approval for Private Limited Firms - The decision to reverse the NCLAT's rejection of the amalgamation scheme for the four private limited companies reflects the judicial commitment to uphold valid corporate resolutions while ensuring compliance with fair valuation principles. Stakeholders should take proactive steps to ensure proper methodologies are utilized in valuation processes, and clarity in approvals is maintained at the board level to prevent any future disputes or challenges.

Section 130 of the Companies Act, 2013 - Suspicion Not Sufficient: NCLT Dismisses Petition for Re-opening of Company Accounts - In light of the Tribunal's assertion that suspicion alone is inadequate for action under Section 130, it is imperative for companies and their directors to ensure thorough documentation of financial transactions and to maintain transparent sales and purchase registers. Proper audits and inclusion of all relevant stakeholders in the audit process are essential practices that should not be overlooked. Any future petitions for account re-openings must be underpinned by substantiated allegations with credible evidence to avoid the dismissal that this case experienced.

Condonation of Delay Application Denied: Appellant Fails to Demonstrate Sufficient Cause for Delay in Filing Appeal - This decision reiterates the importance of adhering to statutory timelines and emphasizes that mere knowledge of an order does not constitute a valid reason for delay. Appellants are advised to be diligent in observing legal deadlines and must demonstrate unequivocal evidence of circumstances blocking timely filing within provided periods, as the Tribunal is steadfast in maintaining judicial discipline and preventing dilatory tactics.

NCLAT Upholds Nominations of Directors in Delhi Gymkhana Club Amid Concerns Over Public Interest Management - In light of the decision by the NCLAT, it is imperative for the nominees selected by the Central Government to act diligently and in accordance with the established regulations to restore the Delhi Gymkhana Club to its intended public-serving purpose. The swift execution of remedial actions and adherence to democratic processes in future elections will ensure compliance with legal obligations and uphold the Club's reputation as a promoter of sports and public welfare.

Legal Decision on Appointed Date Change in NCLT Scheme Admission: Unilateral Revisions Multilayered by Legal Oversight - In light of the aforementioned findings, the NCLT's unilateral decision to alter the appointed date lacks validity and must be rectified to align with the initial filing dated April 1, 2019. This assertion must be communicated clearly in future proceedings to ensure compliance remains intact in both timelines and legal precedent alignment.

Amendment of Amalgamation Scheme Upheld: NCLAT Affirms Flexibility in Cross-Border Mergers - The NCLAT's ruling supports a pragmatic approach to the amendment of amalgamation schemes, reinforcing the notion that minor changes, particularly those affecting the swap ratio, can and should be accommodated without incurring extensive additional compliance burdens. Practitioners should exercise their rights to amend schemes responsibly, recognizing that such flexibility can optimize strategic planning and operational efficiency during merging processes.

NCLAT Appeal Rejection Overturned: Supreme Court Clarifies Filing Requirements Under IBC - Based on the Supreme Court's clarification regarding the requirements for appeals under the IBC, it is essential for litigants to understand their obligations concerning the timely application for certified copies of impugned orders. This decision reinforces the necessity for proactive compliance with procedural rules to avoid adverse decisions based on technical grounds. All future appellants should ensure they have the required certified documents in hand to mitigate any risk associated with hard limitations or bar issues.

NCLAT Confirms CCI’s Ruling on Bid Rigging in SBIIMS Tender; Upholds Proportionality of Penalty Imposed on MSMEs - This decision reaffirms the strict stance taken by the CCI against anti-competitive behavior such as bid rigging, while also demonstrating a degree of leniency towards MSMEs. Going forward, businesses, particularly smaller enterprises, must be acutely aware of their competitive practices during tender processes. The established principles of proportionality dictate that while penalties will be enforced for infractions, the rationale for the adjudication and penalty structure considers the economic realities faced by entities involved.

CCI Monetary Penalty Interest Waiver Not Granted Despite Reduced Penalty for Godrej - In conclusion, the NCLAT has provided clarity in the assessment of penalties related to competition law violations by emphasizing the need to strictly consider relevant turnover pertaining to the specific market segment. Therefore, it is imperative for businesses operating in oligopolistic markets to understand that reliance on overall profitability across different product lines is inadvisable when facing penalties. Future appellants should prepare well-founded arguments with zero assumptions around the waiver of interest, given that the interests will not typically be exempted solely based on the pendency of an appeal.

Punjab & Haryana High Court Addresses Resolution Professional Misconduct and Scope of Review - In light of the current ruling, it is essential for existing and prospective Resolution Professionals to maintain stringent adherence to the provisions of the IBC and regulatory expectations set forth by the IBBI. This case serves as a definitive reminder that the courts will uphold the discretionary powers of disciplinary authorities and permit leniency only when warranted by substantial justifications. Thus, practitioners in the field must diligently document their processes and ensure compliance to mitigate potential disciplinary actions.

Supreme Court Affirms High Court’s Decision Appointing Sole Arbitrator Amidst Dispute Over Arbitrability of Claims - The Supreme Court’s affirmation of the High Court's order to appoint a sole arbitrator reflects a strong endorsement of the arbitration process as a viable mechanism for dispute resolution. This decision provides a clear directive that questions of arbitrability should be resolved during arbitration proceedings, and not prior to the formation of the arbitration panel. For parties involved in similar disputes, it is crucial to recognize that the courts will favor the establishment of an arbitration framework before considering objections regarding the substance of disputes. Therefore, stakeholders are advised to prepare thoroughly for arbitration and be ready to present all relevant arguments before the appointed arbitrator regarding the merits of their claims.

Supreme Court Upholds Arbitrator Appointment Despite Limitation Defense in Franchise Dispute - In light of the Supreme Court's decision, it is imperative for franchisees and franchisors to thoroughly understand the timelines associated with arbitration notices to avoid pitfalls associated with the limitation period. Clearly articulated arbitration clauses must stipulate notice and response timelines to ensure that all parties are cognizant of their rights and obligations. Future petitions must adhere strongly to the dates of notification and response compliance as determining factors for limitation defenses.

NFRA Blasts Auditor for Professional Misconduct and Non-Compliance With Standards, Imposing Mandatory Penalties - The NCLAT's decision underscores the critical importance of compliance with professional statutes and transparent communication processes by chartered accountants. It reiterates that non-compliance and lack of cooperation with regulatory frameworks will lead to severe repercussions, including heavy penalties and debarment from professional practice. Chartered accountants are advised to maintain transparent communication with regulatory authorities and safeguard compliance with all applicable standards to mitigate risks of legal and professional liabilities.

Arbitrator Appointment Affirmed by Gujarat High Court Amidst Claims of Staleness and Non-arbitrability - The decision of the Gujarat High Court underscores the principle that the mere signing of a consent letter does not extinguish the right to seek arbitration, especially when claims remain unresolved or are disputed subsequently. It also reaffirms the judiciary's role in facilitating arbitration when parties are unable to come to an agreement on their own.

Delhi HC Empowers Struck-off Companies to Pursue Legal Remedies Post Deregistration - The Delhi High Court's decision underscores the legal principle that a company's name's removal from the Register does not negate its existence for all practical legal purposes, especially concerning the pursuit of debts. This ruling empowers entities facing deregistration to actively manage their financial recoveries and gives creditors a pathway to pursue outstanding payments. Hence, companies should integrate this understanding into their operational and financial practices, ensuring that they maintain meticulous records of their financial transactions and liabilities, even amidst potential challenges to their registration status.

Legal Name Restoration Granted for Aster Venture Pvt. Ltd.: NCLAT Overturns NCLT Order Amidst Filing Defaults - In light of the above deliberations, it is clear that the NCLAT's judgment serves as a precedent for similar cases where companies may have suffered compliance deficits due to understandable circumstances. The NCLAT recognized the necessity of accommodating the operational reality of companies while ensuring that statutory obligations, albeit critical, are not the sole determinant for their continued existence. It is recommended that companies maintain consistent compliance with filing duties to avoid such adverse circumstances, making necessary arrangements well in advance to safeguard their operational integrity.

NCLT Declines Intervention in Corporate Arrangement Scheme under Companies Act, 2013 - In light of current legal frameworks and the precedents established by the Supreme Court, it is clear that interventions at the pre-admission stage in insolvency proceedings are not only unwarranted but also directly contravene the interests of primary stakeholders. Industry practitioners should recognize the importance of adhering to procedural conventions to ensure that personal and collective interests are adequately represented without compromising the efficiency of the process. All parties must act within the permissible parameters set by the law, which aim to expedite the resolution process rather than prolong it.

Legal Decision on Approval of Resolution Plan Under the Insolvency and Bankruptcy Code - In light of the comprehensive analysis conducted and the verification of statutory compliance, the Adjudicating Authority has granted approval to the Resolution Plan. It is imperative that stakeholders involved in similar insolvency proceedings recognize the importance of adhering to the specific legal requirements delineated in the IBC and its accompanying regulations. The prevailing legal framework necessitates diligent preparation and submission of Resolution Plans to avoid contravention of established norms, thereby facilitating smoother resolution processes in cases of corporate insolvency.

Illegal Sale Of Company Land And Equity Allotments Dismissed As Oppression Claims Fail In Nclt Hyderabad - The NCLT's ruling emphasized the lack of demonstrable irregularity in both the sale of land and equity share allotments. The decision highlights the importance of documented consent and the rationale behind corporate financial decisions under pressure. As such, stakeholders within companies should meticulously document decision-making processes, obtain consent as needed, and ensure compliance with statutory obligations to mitigate potential claims of mismanagement or oppression.

Legal Crux of Oppression and Mismanagement Case Resolved by NCLT Hyderabad - In light of the findings, it is imperative that companies conduct robust governance practices and ensure compliance with statutory requirements when convening meetings for the appointment or removal of directors. Shareholders must maintain a clear understanding of their rights under the Companies Act, particularly concerning the processes for the management of their affairs. For companies contemplating such actions, maintaining detailed records and adherence to legal requirements not only strengthens their case but also protects against potential challenges.

Fraud Allegations Dismissed: NCLT Denies Investigation into Respondent Companies' Affairs - In line with the Tribunal's decision, it is crucial for future Petitioners contemplating action under Section 213 of the Companies Act to ensure that their claims are buttressed by robust and credible evidential support. The failure to meet evidentiary requirements can result in immediate dismissal of the Petition, underscoring the necessity for thorough documentation and substantiation of allegations prior to seeking judicial intervention.

Gauhati High Court Upholds First Appellate Authority's Findings in Central Excise Duty Case, Emphasizing Judicial Discipline and Natural Justice Principles - The decision by the Gauhati High Court reinforces key tenets of administrative justice: adherence to natural justice, respect for prior findings by quasi-judicial bodies, and a clear demarcation of jurisdictional authority. Thus, it directs the petitioner’s case back to the first appellate level, reiterating the principle that departmental authorities must abide by binding determinations unless successfully contested through proper channels. This is a critical reminder for both the department and assessees to ensure procedural integrity in the adjudication processes.

Legal Ruling on CENVAT Credit Claim in Repackaging Activities: CESTAT Chennai Upholds Manufacturer's Position - The CESTAT’s ruling elucidates critical principles regarding the definition of manufacturing under the Central Excise Act and the associated rights to CENVAT credit. By determining that the Appellant’s previous processing activities were valid under the law, it emphasizes the importance of established precedents in cases of tax dispute. Businesses engaged in similar activities may consider this decision as a roadmap for structuring their processes in compliance with the manufacturing definitions cited. The decision affirms that credit claims should not be unfairly denied when duties on finished products have been duly paid.

CESTAT Mumbai Upholds R&D Input Credit Claim Amidst Recovery Allegation - The CESTAT Mumbai's ruling highlights a significant avenue for manufacturers engaged in R&D to leverage Cenvat credits on inputs, thereby reiterating the importance of substantiating the relevance of R&D to the manufacturing process. For assessors, this case underscores the necessity of maintaining thorough records that demonstrate the integral connection between R&D functions and the production of goods.

CESTAT New Delhi Affirms Input Credit on Goods Transport Agency Service for Outward Transportation in FOR Contracts - In light of the CESTAT decision, the appellant not only meets the conditions for availing input credit but also serves as a precedent for similar cases. Companies engaging in transportation services under FOR contracts should meticulously document their freight expense allocations and transactions with transporters, including reverse charge payments, to capitalize on input credit effectively.

CESTAT Upholds Duty Liability on Job Worker Due to Principal Manufacturer's Exemption Misapplication - This case underscores the critical nature of compliance with central excise regulations, particularly related to the area-based exemption notifications. It emphasizes that both job workers and principal manufacturers have aligned responsibilities to ensure all necessary undertakings are met to avoid liability for unpaid duties. The ruling implies that job workers must meticulously ascertain the compliance status of their principal manufacturers to secure themselves against unforeseen tax liabilities.

CESTAT Ahmedabad Recognizes Merits of Refund Claims Under CGST Act and Excise Regulations - The CESTAT’s ruling elucidates the principle that timing of payments should not unduly thwart eligible refund claims when the underlying tax pertains to a period predating the GST regime. Assessors should ensure that all claims are justified under legal tenets, specifically Section 142(3) of the CGST Act and safeguarding against unjust enrichment. Stakeholders are advised to meticulously document and substantiate their refund requests, as this will fortify their position during adjudications.

Excess Refund Recovery Rejected: CESTAT Upholds Earlier Precedents - In light of the current decision, it is crucial for assessees to capitalize on the established legal principles that safeguard their interests regarding refunds sanctioned by tax authorities. As demonstrated in this case, if refunds are not contested in a timely manner by the authorities, the likelihood of recovery actions against them diminishes significantly. It is advisable for all assessees to maintain accurate documentation of refund orders and ensure that any discrepancies are promptly addressed by the department to avoid future challenges.

CESTAT Rules for Waiver of Penalty Under CER in Favor of Co-Noticees Following Settlement of Main Party's Case - Based on the Tribunal's decision, it is actionable for co-noticees in similar scenarios to seek waivers for penalties on the grounds that the main party’s case has been settled under the SVLDRS-2019. Stakeholders can draw upon this case for precedent, as it illustrates the potential for favorable outcomes when contending against penalties imposed under ambiguous interpretations of tax regulations.

Legal Decision on Validity of Show Cause Notice under the Customs Act: Madras High Court Rules on Principal Commissioner’s Jurisdiction - The Madras High Court's decision upholds the jurisdiction of the Principal Commissioner of Customs to issue a show cause notice under Section 28, emphasizing the independence of this authority regarding previous assessments. For assessees, this ruling highlights the importance of proactively addressing claims presented in show cause notices, ensuring proper documentation and defenses against assertions of misrepresentation or suppression of facts. Failure to adequately respond could diminish the effectiveness of defenses against potential customs duties and penalties.

Madras High Court Upholds Confiscation of Forged DEPB Licenses and TRAs; Imposes Duty and Penalties - The Madras High Court’s ruling solidifies a stringent approach towards customs duty evasion facilitated by fraudulent documentation. Importers and traders must take this decision into account when structuring transactions involving DEPB scrips and TRAs. The explicit affirmation of penalties highlights the necessity of exercising due diligence and ensures prospective importers remain vigilant against the risks associated with falsified documentation. Consequently, effective due diligence and compliance protocols are imperative to mitigate exposure to similar liabilities in the future, thus fostering responsible trading practices.

Legal Entitlement Affirmed for MEIS Rewards by Delhi High Court Following Inadvertent Marking in Shipping Bills - This decision underscores the importance of intent over clerical formalities in the realm of export incentives. Petitioners who face similar administrative hurdles should take note that demonstrating a clear intention to claim benefits can help mitigate the impact of inadvertent errors in documentation. Therefore, going forward, it is advisable for assessees to proactively verify entries in shipping documentation before submission, while also maintaining clear records of their intended claims to support any future requests for redress should clerical errors occur.

Madras High Court Allows Late Appeal Due To Non-Receipt Of Order, Remands Case To Appellate Authority - In light of this decision by the Madras High Court, assessees facing similar issues of delayed appeals due to non-receipt of communication or miscommunication should leverage this ruling. Specifically, they should ensure robust and current address records are maintained in correspondence with the customs authorities to avoid challenges in receiving critical notices. Assessees may also consider documenting instances of non-receipt and actively following up with the departments to safeguard against potential delays in appeal filings.

Revocation of Customs Broker License Overturned: Lack of Evidence for Proved Charges - The Tribunal concluded that the revocation of the customs broker license, forfeiture of the security deposit, and penalty imposition were not supported by sufficient evidence or adherence to regulatory frameworks, thus allowing the appeal to stand. The ruling emphasized the critical need for regulatory bodies to base their decisions strictly on established facts and clear interpretations of law.

CESTAT Mumbai Rules Against Immediate Suspension of Customs Broker’s License, Citing Insufficient Grounds for Allegations - Upon detailed analysis of the operational timelines and regulatory compliance, the decision to suspend the appellant’s Customs Broker license was deemed unsupported by sufficient grounds. This ruling emphasizes the necessity for licensing authorities to adhere strictly to due process and justifiable reasoning when imposing immediate sanctions. Thus, it is incumbent on authorities to ensure their actions are well-founded in fact and law before taking such decisive measures against assessees.

Customs Duty Interest Claims Rejected: CESTAT Upholds Security Deposit Ruling - This ruling by the CESTAT Chandigarh crystallizes the legal position regarding the non-entitlement of interest on refund claims associated with security deposits. Assessors should note the critical importance of timely assessment as prescribed under Section 18(4) of the Customs Act, 1962, to avoid forfeiting their claims to interest. It emphasizes the necessity for assessees to evaluate the classification of their payments closely and ensure prompt compliance with assessment timelines to safeguard their interests effectively.

Discrepancy in Importer’s Name Leads to Anti-Dumping Duty Demand Reassessment by CESTAT Ahmedabad - The Tribunal's decision underscores the critical importance of documentary evidence in establishing the authenticity of manufacturers in anti-dumping duty cases. To mitigate future risks, entities involved in similar imports should ensure meticulous consistency in documentation across all submitted materials while emphasizing credible certificates of origin. This approach will provide a robust defense in case of any inquiries or disputes regarding the identity of manufacturers and associated duties.

Revenue's Single Appeal for 93 Bills of Entry Declared Non-Maintainable by CESTAT Chandigarh - This ruling by the CESTAT clearly indicates the necessity for the Revenue to adhere to procedural norms in filing appeals. It serves as a critical reminder for assessees and department officials alike regarding the meticulousness required in filing appeals linked to multiple assessments. The necessity to file individual appeals emphasizes the imperative for due diligence in tax matters, ensuring compliance with relevant rules. The Revenue must act on this decision to prevent delays and potential rejection of appeals in future instances.

High Court Upholds CESTAT’s Findings on New Industrial Undertaking Status Post-Ban Lift - The decision by the Gauhati High Court underscores the legal interpretation surrounding the classification of industrial units in the context of tax benefits under Notification dated 25.04.2007. It establishes that the procurement of a new license following the lifting of a ban can indeed signify the establishment of a new industrial unit, contrary to the historical operational status of the entity. For the stakeholders involved, particularly M/s Sarda Plywood Industries Ltd., this verdict provides a robust foundation for claiming entitlements under the notification, setting a procedural standard for similar future applicants in the industrial sector.

CESTAT Ruling Affirms Exclusion of Deferred Sales Tax from Assessable Value under Central Excise Act - Based on the decision rendered by the CESTAT, it is clear that tax authorities cannot include deferred sales tax in the assessable value for the calculation of central excise duty. Manufacturers must ensure proper computation of their assessable value by factoring in only what is "actually payable" at the time of clearance. This decision mandates reassessment procedures to be aligned with judicial precedents, enabling manufacturers to manage their tax liabilities effectively.

Education and Automobile Cess: CESTAT Clarifies Non-Levy of Education Cess on Automobile Cess - The CESTAT's ruling emphasizes that the education cess and secondary and higher education cess cannot be assessed on automobile cess. This decision reinforces the principle that different types of cess have distinct legislative origins and, as such, should not be conflated. Taxpayers may, therefore, be well-advised to ensure clear segregation of tax liabilities arising from different statutes to avoid unnecessary burdens.

Delhi High Court Upholds Detention Order Under COFEPOSA Act, Citing Detenu's Smuggling Activities - This ruling affirms the discretion exercised by the Detaining Authority in issuing preventative detention under the COFEPOSA Act, particularly in cases where the individual demonstrates a propensity for engaging in illicit activities. It emphasizes the importance of timely coordination between bail considerations and the initiation of detention proposals. Assessees in similar circumstances should ensure to maintain robust documentation and timely responses to any legal actions to mitigate risks of preventative detention.

Duty Drawback Scheme Misunderstanding Leads to Kerala High Court Ruling on Export Compliance - The Kerala High Court's decision underscores the necessity for meticulous adherence to export frameworks and the potential repercussions of misclassifying export schemes. Nonetheless, the ruling also brings to light the importance of intent and previous compliance in adjudicating export obligations. It establishes a pathway for affected parties to rectify administrative errors, emphasizing prompt action for the issuance of pertinent certificates, which is crucial for maintaining seamless export functionalities.

Demand for Erroneous Tax Refund Overturned by CESTAT Chennai: Violation of Natural Justice Cited - In accordance with the findings of CESTAT Chennai, it is evident that maintaining adherence to principles of natural justice is imperative in tax proceedings. The administrative authorities are mandated to ensure that all parties are duly informed and given the opportunity to present their case, especially in scenarios involving the revocation of benefits or demands. For practitioners and assessees alike, the lessons from this decision underline the necessity of maintaining updated contact details and the importance of timely responses to correspondence from tax authorities.

CESTAT New Delhi Confirms Rejection of Transaction Value Due to Discrepancy in Imported Goods Thickness; Appellant Faces Penalties for Misdeclaration - In light of CESTAT’s decision, it is imperative for importers to ensure that all declarations made in their Bills of Entry are accurate and substantiated by precise invoices reflecting the actual goods. This determination reinforces the necessity of maintaining transparency and diligence in customs compliance. Henceforth, stakeholders should invest in adequate verification mechanisms for import documentation to mitigate the risks and financial liabilities associated with misdeclarations.

Legal Crux of CESTAT Allahabad Case: Entitlement to CVD Refund Based on Exemption Notification - On the basis of the current decision, it is determined that the appellant is rightfully entitled to a refund of CVD based on the retrospective applicability of Notification No. 79/2017-Cus. This affirms the jurisprudential significance of the Notification not only for the appellant but potentially for other manufacturers under similar circumstances. Those considering refund claims under the Advance Authorization Scheme should carefully analyze their entitlement in light of the clarified applicability of CVD exemptions.

Customs Duty Assessment Favorable for 100% EOU: Excess Raw Material Waste Does Not Imply Non-Usage - In light of the current decision, it is imperative for entities operating as 100% EOUs to maintain accurate and comprehensive records demonstrating the use of imported raw materials in production. Should discrepancies in wastage exceed established SION norms, it is critical to proactively engage with regulatory bodies to potentially amend those norms. Compliance with export obligations will serve as a robust defense against presumptions of non-usage of materials.

CESTAT Ruling: Import Classification of ‘6 Port Connector Assembly’ Correctly Reaffirmed Under Tariff Item 85177090 - In light of this ruling, it is imperative for assessees engaged in importing telecommunication-related hardware to critically evaluate their tariff classifications based on the product's intended use and functionality rather than solely relying on supplier classifications. Assessing compliance with the classification norms delineated in both the Indian Customs Tariff and HSN codes will be essential to avoiding disputes with customs authorities.

CESTAT Ruling Clarifies Anti-Dumping Duty Exemptions for Reflective Glass Imports - In light of the CESTAT's decision, it is crucial for importers to closely analyze the specific contents and scopes of notifications concerning Anti-Dumping Duties. The ruling underscores the necessity for compliance with precise legal timelines and the importance of verifying exemption eligibility against current legal standings. Importers engaged in similar transactions should ensure exhaustive documentation and legal clarity before proceeding with the clearance of goods situated in any potentially ambiguous notification provisions to mitigate the risk of significant duties and penalties.

High Court Overlooks Key Contentions; SC Restores Appeal for Reevaluation - The Supreme Court's decision to restore Appeal No. 37 of 2018 underscores the critical importance of robust judicial review in appellate courts. It serves as a reminder to higher courts to diligently engage with all relevant arguments and not merely affirm lower court decisions without due consideration. Moving forward, litigants should ensure that their substantive contentions are clearly articulated and well-supported in appellate briefs, as these aspects are pivotal in influencing the court's evaluative process. Similarly, appellate courts must remain vigilant in upholding the principles of natural justice, ensuring that thorough examination precedes any judgment rendered.

CESTAT Mumbai Ruling on Reversal of CENVAT Credit and Denial of Exemption Notification No. 30/2004-CE for Duty Paid Intermediate Products - In light of the Tribunal's ruling, it is actionably clear that businesses should maintain thorough documentation of duty payments and CENVAT credits associated with both intermediate and final products. Companies should adopt a diligent approach to report and rectify any inconsistencies in their claims concerning exemptions, ensuring their right to CENVAT credits is effectively established and preserved. The precedential authority exerted by prior judicial findings serves to substantiate claims where tax credits had previously been utilized in compliance with regulatory requirements.

Order under section 119(1) of the Income-tax Act, 1961 fixing monetary limits of the income-tax authorities in respect of reduction or waiver of interest paid or payable under section 220(2) of the Income-tax Act

Condonation of delay under clause (b) of sub-section (2) of section 119 of the Income-tax Act, 1961 for returns of income claiming deduction u/s 80P of the Act for Assessment Year 2023-24

Specifying Forms prescribed in Appendix-II of the Income Tax Rules 1962, to be furnished electronically under sub-rule (1) and sub-rule (2) of Rule 131 of the Income-tax Rules, 1962

Extension of due date for furnishing return of income for the Assessment Year 2024-25

Computation of arm's length price - U/s 92C(2) of IT Act 1961

Corrigendum to Circular No. 237/31/2024-GST dated 15th October, 2024 issued vide F. No. CBIC-20001/6
Corrigendum - Notification No. 09/2024-Union Territory Tax (Rate), dated the 8th October, 2024
Corrigendum - Notification No. 09/2024- Integrated Tax (Rate), dated the 8th October, 2024
Corrigendum - Notification No. 09/2024-Central Tax (Rate), dated the 8th October, 2024
Clarifying the issues regarding implementation of provisions of sub-section (5) and sub-section (6) in section 16 of CGST Act, 2017
Disclosure of expenses, half yearly returns, yield and risk-o-meter of schemes of Mutual Funds
Investments in Overseas Mutual Funds/ Unit Trusts by Indian Mutual Funds
Format and manner of seeking authorisation to commence or carry on a payment system in an international financial services centre.
Section 211 of the Companies Act, 2013 - Establishment of Serious Fraud Investigation Office - Appointment of Director in Serious Fraud Investigation Office
COLLECTIVE INVESTMENT SCHEMES (CIS) FAQs PURSUANT TO AMENDMENTS IN SEBI (COLLECTIVE INVESTMENT SCHEMES) REGULATIONS, 1999 IN MAY, 2022
Enabling provisions for import of inputs that are subjected to mandatory Quality Control Orders (QCOs) by Advance Authorisation holders, EOU and SEZ
Central Government notifies the 50.586 hectares area comprising the survey numbers and the area to set up a Multi-Sector SEZ at Kumarbagh, District West Champaran in the State of Bihar and constitutes an Approval Committee
Central Government de-notifies an area of 25.428 hectares, thereby making the resultant area as 361.378 hectares at Duppituru, Moturupalem, Maruturu and Gurujaplem Villages, Visakhapatnam District in the State of Andhra Pradesh
Seeks to impose ADD on Welded-Stainless Steel Pipes and Tubes from Thailand and Vietnam
Further abeyance of Public Notice No. 05/2024 dated 27.05.2024 until 31.12.2024.
Amendment in 4.59 of Handbook of Procedures, 2023 and modification in Standard Input Output Norms (SION) M-1 to M-8 for export of jewellery
Guidelines for Customs field formations in maintaining ease of doing business while engaging in investigation into tax evasion cases in import or export
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