• Net Direct Tax collections (provisional) for Financial Year (FY) 2023-24 exceed Union Budget Estimates by Rs. 1.35 lakh .....

  - - - Dated:- 22-4-2024 - Net Direct Tax collections (provisional) for the FY 2023-24 exceed Revised Estimates by Rs. 13,000 crore Gross Direct Tax collections (provisional) for FY 2023-24 stand at Rs... ...

• MEETING OF CREDITORS - INSOLVENCY RESOLUTION PROCESS - PERSONAL GUARANTOR TO CORPORATE DEBTOR

  Once the application for initiation of insolvency resolution process is admitted on the basis of the report of the Interim Resolution Professional ( IRP for short) the insolvency resolution process st... ...

• Goods seized cannot be released by invoking writ jurisdiction if no application filed for release of goods under GST

  The Hon ble Calcutta High Court in the case of M/S. KANAK TIMBER HOUSE ANR. VERSUS ASSISTANT COMMISSIONER OF SALES TAX ORS. - 2024 (3) TMI 680 - CALCUTTA HIGH COURT disposed of the writ petition, ther... ...

• Various Types of Charges on Property

  Introduction: Being a property owner gives you the power to create types of charges on property that act as security interests, safeguarding your assets and guaranteeing that your debts are paid. Thes... ...

• Assessment Order quashed when Assessee incorrectly reported turnover in GSTR-1 but correctly in GSTR-3B

  The Hon ble Madras High Court in the case of SOUTHERN ENGINEERING SERVICES VERSUS DEPUTY STATE TAX OFFICER - 1, CHENNAI - 2024 (4) TMI 653 - MADRAS HIGH COURT allowed the writ petition and set aside t... ...

• Adjudication of SCN that was kept in call book for 14 years - The applicant claimed that the show-cause...

  Adjudication of SCN that was kept in call book for 14 years - The applicant claimed that the show-cause notice had been kept in the call book for 14 years and later revived, leading to an adverse orde... ...

• Violation of importing restricted goods - Import of Litebee wing-Nano Drone Components kits - Re-export...

  Violation of importing restricted goods - Import of Litebee wing-Nano Drone Components kits - Re-export of goods - The Tribunal examined the regulations governing the import of drones, particularly hi... ...

• Classification of imported goods - children building/constructable robot toys in CKD condition with...

  Classification of imported goods - children building/constructable robot toys in CKD condition with individual box packing and are electronic toys - drones - Teaching Aid's in schools - The Appellate ... ...

• Levy of penalty - Abetment in Fraudulent export - The judgment by the Appellate Tribunal of CESTAT...

  Levy of penalty - Abetment in Fraudulent export - The judgment by the Appellate Tribunal of CESTAT Bangalore addressed a case of fraudulent export and misdeclaration of goods. Investigations revealed ... ...

• Classification of imported goods - Imports aluminium shelving for Mushroom - The Appellate Tribunal...

  Classification of imported goods - Imports aluminium shelving for Mushroom - The Appellate Tribunal ruled in favor of the appellant. They determined that the imported goods, particularly the aluminium... ...

• Revocation of the Customs Broker Licence - The appellant argued that the license had already been...

  Revocation of the Customs Broker Licence - The appellant argued that the license had already been revoked once and reinstated by the Tribunal, making the subsequent revocation unjustified. The Departm... ...

• Release of assets (machines) seized by the Customs Authorities before initiation of CIRP - The tribunal...

  Release of assets (machines) seized by the Customs Authorities before initiation of CIRP - The tribunal found that the goods were lawfully confiscated under the Customs Act before the initiation of th... ...

• Bench Reconstitution and Order Pronouncement - Whether an order reserved by a bench could be pronounced...

  Bench Reconstitution and Order Pronouncement - Whether an order reserved by a bench could be pronounced by a reconstituted bench without considering a subsequent application that called for a re-heari... ...

• Admission of Section 7 Application of the Financial Creditor - Corporate Debtor / Guarantor failed to...

  Admission of Section 7 Application of the Financial Creditor - Corporate Debtor / Guarantor failed to fulfil obligations - The tribunal noted the specifics of the guarantee, where the corporate guaran... ...

• Rejection of application by the impugned order - Secured creditors or not - NOIDA Authority - The...

  Rejection of application by the impugned order - Secured creditors or not - NOIDA Authority - The tribunal, after considering submissions and legal precedents, concluded that the Appellant should be recognized as secured operational creditors.

• Levy of service tax - Amounts received by the appellant from Priyadarshini Gas Seva [PGS] - The Tribunal...

  Levy of service tax - Amounts received by the appellant from Priyadarshini Gas Seva [PGS] - The Tribunal notes that PGS is a unit of the appellant, and it's not uncommon for units to transfer profits ... ...

• Demand of differential service tax - Valuation - non-inclusion on reimbursable expenses - pure agent...

  Demand of differential service tax - Valuation - non-inclusion on reimbursable expenses - pure agent services - The Appellate Tribunal analyzed the agreements and legal provisions, including previous ... ...

• Non-payment of Service Tax - works contract services - amounts obtained from Form 26 AS (Income Tax...

  Non-payment of Service Tax - works contract services - amounts obtained from Form 26 AS (Income Tax Department) for the Financial Year 2015-16 - The Tribunal, after considering the submissions of both... ...

• Seeking grant of anticipatory bail - bailable offence or not - failure to make payment of tax - wilful...

  Seeking grant of anticipatory bail - bailable offence or not - failure to make payment of tax - wilful attempt to evade any tax or payment of any tax - The applicant argued that the primary issue was ... ...

• Recovery of alleged outstanding dues of unpaid tax amounts - Section 29 of APVAT Act, 2005 - Appeal was...

  Recovery of alleged outstanding dues of unpaid tax amounts - Section 29 of APVAT Act, 2005 - Appeal was dismissed for default due to the petitioner's repeated non-appearance despite being granted seve... ...

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