Taxscan

The Bombay High Court quashed a criminal prosecution initiated under Section 276CC of the Income Tax Act, 1961 for ITR (Income Tax Returns) filing default which was later filed. The court noting the TDSdeduction and refund due, said 'criminal prosecution

The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) deleted the unexplainedincome tax addition of Rs. 54,00,500 relating to cash deposits citing that the assessee was working as a property transaction intermediary. Based on AIR/CIB information, th

The Delhi High Court held that importer can get the benefit of the principles underlying Section 14 of Limitation Act when it had pursued a refund remedy without first challenging the customs assessment (if that was permitted by the binding law at that ti

The Allahabad high court, recently quashed Rs. 5 lakhs demand under UP Value Added Tax Act ( UP VAT ) ruling that turnover cannot be enhanced due to mere non-production of books of accounts during survey and without any adverse material. A revision petiti

The Delhi High Court held that the advocates enrolled with the bar, who are acting as insolvency professionals, shall register under the GST ( Goods and Services Tax ) Act and also be liable to pay under Forward Charge Mechanism (FCM). Justice Prathiba M.

In a recent decision, the Allahabad High Court held that there is no statutory prohibition on GST ( Goods and Services Tax ) authorities for fixing personal hearing and reply filing on the same day. Justice Amitabh Kumar Rai and Justice Alok Mathur dismis

The MSME (Micro, Small and Medium Enterprises) Development amendment bill was passed in parliament to improve the competitiveness of the enterprises. The amendment was made to the existing MSME Development Act, 2006 which required necessary changes to cop

The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) reduced the profit attribution to the Indian Permanent Establishment (PE) of BBC Global News Limited from 15% to 12% of advertisement revenue, holding that the earlier MAP rate of 8.75% could not

The Income Tax Appellate Tribunal (ITAT), New Delhi Bench, allowed an appeal and held that proceedings under Section 153C ofthe Income Tax Act were based on a defective satisfaction note which was invalid. In the present case, incriminating material was f

The National Company Law Appellate Tribunal (NCLAT) held that rectification of any errors made due to clerical and typing mistake in the order would not constitute revival of the limitation period for filing the appeal under section 61 of the Insolvency a