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Highlights Highlights, Income Tax, GST, Import Eport and Corporate Laws

Excess Input Tax Credit penalty appeal dismissed due to delay; court allows reinstatement considering circumstances.
November 21, 2024   Case Laws     GST

Chit Funds Commission Not Subject to GST: High Court Quashes Notice.
November 21, 2024   Case Laws     GST

Taxability of Additional Surcharge by Electricity Distribution Company on Open Access Consumers.
November 21, 2024   Case Laws     GST

Transport agency's bundled services disqualify it from GST exemption for pure freight services to unregistered foreign clients.
November 21, 2024   Case Laws     GST

Compensation for surrendering intellectual property rights treated as capital receipt, not revenue.
November 21, 2024   Case Laws     Income Tax

Cooperative society eligible for tax deduction on interest from cooperative bank investments.
November 21, 2024   Case Laws     Income Tax

Taxman overreached by turning limited scrutiny into wide-ranging probe without following due process.
November 21, 2024   Case Laws     Income Tax

TDS credit limited to income in return, excess related to past years' receipts.
November 21, 2024   Case Laws     Income Tax

Genuine anonymous donations not taxable. Grants not income if utilized. AO erred in disallowing grants & donations.
November 21, 2024   Case Laws     Income Tax

Property investment source verification not valid grounds for reopening assessment. Taxpayer wins appeal against reassessment.
November 21, 2024   Case Laws     Income Tax

Income Tax Assessment Notice Issued by Non-Jurisdictional Officer Quashed, Defective Notice Renders Assessment Invalid.
November 21, 2024   Case Laws     Income Tax

Foreign tech firm wins case: No permanent establishment or royalty taxability in India.
November 21, 2024   Case Laws     Income Tax

Simplified taxation for non-resident shipping biz: 7.5% presumptive income sans GST.
November 21, 2024   Case Laws     Income Tax

Freight charges paid to foreign shipping co. not taxable royalty or chargeable income; disallowance denied.
November 21, 2024   Case Laws     Income Tax

Software License & ICT Service Fees Taxability Re-examined - Royalty or FTS under DTAA?
November 21, 2024   Case Laws     Income Tax

Duty Assessment on Vessel Import: Freight Addition & Ship Stores Deduction Upheld.
November 21, 2024   Case Laws     Customs

Pregnancy Test Kits to be Classified for Duty Exemption Based on Agglutinating Sera.
November 21, 2024   Case Laws     Customs

Sectoral regulation & CCI mandate distinct. Internet exchange services market sans dominance concerns.
November 21, 2024   Case Laws     Companies Law

Insolvency resolution process: CoC empowered to take necessary steps per Supreme Court directions.
November 21, 2024   Case Laws     IBC

Massive financial fraud via sham deals to launder ill-gotten wealth; accused mastermind denied bail in multi-crore scam.
November 21, 2024   Case Laws     Money Laundering

Services to Foreign Entity: No Tax for Auxiliary/Support Work Paid in Foreign Currency.
November 21, 2024   Case Laws     Service Tax

Indian company's service to US parent not an 'intermediary service', lacks export benefits.
November 21, 2024   Case Laws     Service Tax

Taxpayer escapes GST demand after High Court finds lack of due process, orders fresh hearing.
November 21, 2024   Case Laws     GST

Share capital treated as bogus; reassessment validity questioned.
November 21, 2024   Case Laws     Income Tax

Company email service triggers time limit; late complaint quashed for exceeding deadline.
November 21, 2024   Case Laws     Indian Laws

More Highlights

Articles Articles, Tax Laws, GST

Short Notes Short Notes

Unraveling the Mineral Rights Regime: The Supreme Court's Landmark Judgment
Navigating the Faceless Assessment Regime: A Judicial Perspective
Evidentiary Value of Statements Recorded During Income Tax Surveys: A Judicial Analysis
Faceless Assessment: Ensuring Compliance with Statutory Provisions
Faceless Assessment Mechanism: Jurisdictional Limits in Income Tax Proceedings
Reassessment Notices for AY 2013-14: Upholding the Doctrine of Limitation
Principles of Tax Fairness and Mens Rea: Quashes Penalty for Mere Technical Errors
Decoding the Mandatory Timelines: A Thorough Examination of the Income Tax Assessment Order Nullification
Expiry of E-Way Bill AND Mens Rea: Technical Violation Alone Insufficient for Penalty Imposition
Maintainability of Appeals: High Court Upholds Strict Interpretation of Limitation Provisions in GST Act
Stay of Tax Demand: Interpreting the Discretionary Power u/s 220(6) of the Income Tax Act
Interpreting "Technical Services" under Tax Treaties: A Comprehensive Analysis
Interpreting "Or": The Disjunctive Mandate for Personal Hearing in Tax Matters
Navigating the Registration Process u/s 80G: Insights from the ITAT Ruling
Ensuring Fair Proceedings: The Importance of Proper Notice Service in Income Tax Matters
Demarcating Authority: High Court Clarifies Jurisdictional Limits of GST Officers
Unraveling the Royalty Conundrum and DTAA: ITAT's Stance on Marketing and Reservation Fees
Royalty or Not? Decoding the Taxability of Marketing and Reservation Contributions under India-USA DTAA
Unraveling the Intricacies: Assessing a Political Party's Claim for Income Tax Exemption
Bogus Capital Gains and Accommodation Entries: Unraveling the Penny Stock Scam and Tax Evasion
Strict Interpretation of Exemption Provisions: Supreme Court's Ruling on Section 10B(8) of the Income Tax Act
Disallowance u/s 14A: Prospective or Retrospective Effect of the Amendment?
Navigating the Complexities of "Charitable Purpose" in Income Tax Exemptions
Cooperative Banks vs. Primary Agricultural Credit Societies: Implications for Section 80P Deduction
Exemption u/s 11: Condonation of Delay in Filing Form 10

More Notes

Notifications Notifications

CE

- Amendment in Notification No. 11/2017-Central Excise, dated the 30th June, 2017
November 19, 2024

IT

- Exemption from specified income U/s 10(46) of IT Act 1961 – ‘National Aviation Security Fee Trust’
November 19, 2024

IT

- Exemption from specified income U/s 10(46) of IT Act 1961 – ‘District Legal Service Authority’
November 19, 2024

SEBI

- Securities and Exchange Board of India (Alternative Investment Funds) (Fifth Amendment) Regulations, 2024.
November 18, 2024

CGST

- Extension of due date for filing of return in FORM GSTR-3B for the month of October, 2024 for the persons registered in the state of Maharashtra and Jharkhand
November 18, 2024

Cus (NT)

- Customs ports - Appointment for specified purposes - Amendment in Notification No. 62/1994-Customs (N.T.) dated the 21st November, 1994
November 14, 2024

Cus (NT)

- Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver
November 14, 2024

Cus (NT)

- Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver
November 13, 2024

Cus

- Effective rates of customs duty and IGST for goods imported into India - Amendment in Notification No. No. 50/2017-Customs, dated the 30th June, 2017
November 13, 2024

Cus (NT)

- Inland Container Depots for loading and unloading of goods - Amendment in Notification No. 12/97-Customs (N.T.) dated the 2nd April, 1997
November 12, 2024

Cus (NT)

- Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver
November 12, 2024

IT

- Exemption from specified income U/s 10(46) of IT Act 1961 – “Petroleum and Natural Gas Regulatory Board”
November 12, 2024

Cus (NT)

- Inland Container Depots for loading and unloading of goods - Removal of Pimpri - Amendment in Notification No. 12/97-Customs (NT) dated the 2nd April, 1997
November 11, 2024

ADD

- Seeks to impose ADD on Epichlorohydrin imported from China PR, Korea RP and Thailand for 5 years, pursuant to final findings of DGTR.
November 11, 2024

Cus (NT)

- Handling of Cargo in Customs Areas (Amendment) Regulations, 2024.
November 7, 2024

More Notifications

Circulars/ Public Notices Circulars/ Public Notices

SEBI

- Amendment to Para 15 of Master Circular for Credit Rating Agencies (CRAs) dated May 16, 2024 (“Master Circular”)
November 18, 2024

Income Tax

- Condonation of delay under section 119(2)(b) of the Income-tax Act, 1961 in filing of Form No. 10-IC or Form No. 10-ID for Assessment Years 2020-21, 2021-22 and 2022-23
November 18, 2024

Income Tax

- Condonation of delay under section 119(2)(b) of the Income-tax Act, 1961 in filing of Form No. 9A/10/10B/10BB for Assessment Year 2018-19 and subsequent assessment years
November 18, 2024

DGFT

- Harmonisation of Schedule-II (Export Policy), ITC(HS) 2022
November 14, 2024

Customs

- Requirement of Registration of Foreign Food Manufacturing Facilities as per Food Safety and Standards (Import) First Amendment Regulations, 2021, dated 03.11.2021
November 14, 2024

DGFT

- Fixation of one new Standard Input Output Norms (SIONs) at SION A-3682 under 'Chemical and Allied Product' (Product Code ‘A’)
November 14, 2024

Customs

- Classification of Clear Float Glass
November 14, 2024

SEBI

- Relaxation from certain provisions for units allotted to an employee benefit trust for the purpose of a unit based employee benefit scheme, Alignment of timelines for making distribution by InvITs and Format of Quarterly Report and Compliance Certificate – Infrastructure Investment Trusts (InvITs)
November 13, 2024

SEBI

- Relaxation from certain provisions for units allotted to an employee benefit trust for the purpose of a unit based employee benefit scheme, Alignment of timelines for making distribution by REITs and Format of Quarterly Report and Compliance Certificate - Real Estate Investment Trusts (REITs)
November 13, 2024

Customs

- Order for extension of validity of CAVR Order No. 02/2023-Customs under the Customs (Assistance in Value Declaration of Identified Imported Goods) Rules, 2023 in respect of Stainless Steel of J3 grade classified under HS Codes 72191200, 72191300, 72191400, 72192390, 72193290, 72193390, 72193490, 72193590, 72199012, 72199013, 72199090, 72202029, 72202090, 72209022, 72209029 & 72209090
November 13, 2024

DGFT

- Amendment in Para 4.71 of Handbook of Procedures, 2023
November 13, 2024

SEBI

- Simplified registration for Foreign Portfolio Investors (FPIs)
November 12, 2024

Customs

- General ways of identification of the Low Voltage Switchgear and Controlgear under EEQCO as per phased implementation plan
November 12, 2024

SEBI

- Trading supported by Blocked Amount in Secondary Market
November 11, 2024

SEBI

- Procedure for reclassification of FPI investment to FDI
November 11, 2024

More Circulars

News News, PIB

Post event press release of Brainstorming Session on “The Treatment of PDS Items and other necessities in Consumer Price Index Compilation” on 20th November,2024 in Delhi
November 21, 2024


83 meetings of Network Planning Group held so far with projects worth Rs 15.89 lakh cr
November 20, 2024


Statement on the resumption of India-UK Free Trade Agreement Negotiations
November 20, 2024


The Board’s Role in Navigating Transformation (Special Address by Shri Swaminathan J, Deputy Governor, Reserve Bank of India - November 18, 2024 - at the Conference of Directors of Private Sector Banks in Mumbai)
November 20, 2024


Brainstorming session on the "Treatment of PDS items and other necessities in Household Consumption Expenditure Survey (HCES) & Consumer Price Index (CPI) compilation" to be held on 20th November, 2024 in Delhi
November 19, 2024


Transformative Governance through Sound Boards (Keynote Address by Shri Shaktikanta Das, Governor, Reserve Bank of India - November 18, 2024 - at the Conference of Directors of Private Sector Banks, Mumbai)
November 19, 2024


India looks for equity, balance and fair trade when negotiating a Free Trade Agreement: Commerce & Industry Minister Piyush Goyal
November 19, 2024


Important advisory on GSTR 2B and IMS
November 19, 2024


CBDT Chairman Shri Ravi Agrawal dedicates Taxpayers' Lounge to nation builders at Indian International Trade Fair (IITF), 2024
November 19, 2024


Auction for Sale (issue/re-issue) of (i) ‘6.79 % Government Security 2034’ and (ii) ‘New Government Security 2074’
November 18, 2024


83rd Meeting of Network Planning Group (NPG) under PM GatiShakti evaluates 8 key Infrastructure projects - NPG assesses Rail and Road projects
November 18, 2024


GeM conducting registration and onboarding drive of participating Indian sellers & service providers at India International Trade Fair -Onboarding to help small and medium enterprises become part of the government procurement ecosystem.
November 18, 2024


India’s Growing Influence in Global Innovation: A Look at WIPO 2024’s Intellectual Property Report.
November 18, 2024


CBDT launches Compliance-Cum-Awareness Campaign for AY 2024-25 to assist taxpayers in accurately completing Schedule Foreign Assets and reporting income from foreign sources in ITR
November 16, 2024


CBIC Chairman inaugurates GST & Customs Pavilion with the theme “Facilitating Trade, Fostering Economy” at the 43rd India International Trade Fair in New Delhi
November 15, 2024


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May I be born again and again, and suffer thousands of miseries so that I may worship the only God that exists, the only God I believe in, the sum total of all souls—and above all, my God the wicked, my God the miserable, my God the poor of all races, of all species, is the special object of my worship.

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