CESTAT allowed refund of ST paid under protest by Javed Akhtar for compensation for copyright infringement

EXCISE/ST/VAT : Retention of amount paid wrongly as service tax violates Article 265 of Constitution of India and the same is liable to be refunded when tax has been held…

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ITAT allows sec. 54F exemption on purchasing a residential floor in a building with commercial shops on other floors

INCOME TAX : Deduction under section 54F in respect of purchase of residential property on first floor of a complex having shops constructed on ground floor would be allowable, as,…

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Time barred written statement against recovery suit was rightly dismissed by DRAT: HC

FEMA, BANKING amp; INSURANCE : Where petitioners filed written statement of their defence after permissible limit for filing written statement had expired and alleged that they were provided legible copies…

Continue ReadingTime barred written statement against recovery suit was rightly dismissed by DRAT: HC

SEBI comes with up investor charter prescribing rights and responsibilities of investors

In order to protect the interests of investors, the market regulator, SEBI has introduced the investor charter to help investors understand the risks involved. The charter includes rights and responsibilities…

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Entity engaged in upliftment of sanitation worker and manual scavengers is entitled for sec. 10(26B) exemption: HC

INCOME TAX : Where assessee company was fully owned by Government of India and engaged in work of development of National Safai Karamcharis who were involved in upliftment of Safai…

Continue ReadingEntity engaged in upliftment of sanitation worker and manual scavengers is entitled for sec. 10(26B) exemption: HC

CIT can’t direct AO to add items to compute book profit for MAT without giving a reference of empowering provision

INCOME TAX : Commissioner was not justified in revising order and directing Assessing Officer to add decommissioning levy, interest on decommissioning fund, interest on R amp; M fund and interest…

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SEBI strengthens criteria for determination of applicant intermediaries as ‘fit and proper person’

The SEBI has notified the SEBI (Intermediaries) (Third Amendment) Regulations, 2021. Amendment has been made to the Schedule II of the SEBI (Intermediaries) Regulations, 2008 which prescribes the ‘Criteria for…

Continue ReadingSEBI strengthens criteria for determination of applicant intermediaries as ‘fit and proper person’