SC upholds validity of Sec. 148 notices issued after 31-03-21 under old provisions
INCOME TAX : SC agrees with HCs that ITD erred in issuing reassessment notices on or after 1-4-2021 even if for past AYs as per old provisions but gives partial…
Committee recommends progressive amp; pragmatic amendments to Company Law
The Company Law Committee (‘Committee’) presented it’s report in March 2022 and made recommendations on changes aimed at facilitating and promoting greater ease of doing business in India and effective…
Presence of several other developers in the relevant market rules out abuse of dominant position by OP: CCI
COMPETITION ACT : Where apart from OPs, there were a number of real estate developers operating in relevant market of provision of services for development and sale of residential apartments…
Order u/s 127 transferring case to another AO is an administrative order rather than a quasi-judicial order : HC
INCOME TAX : Assessee has no right to choose his AO; Order u/s 127 for transfer of a case from AO to another is more an administrative order that a…
SC slams ITAT for dismissing appeal on ground that AO’s action wasn’t challenged without referring to affidavit
INCOME TAX: Where affidavit filed by assessee-trust before Tribunal revealed that assessee challenged method of accounting changed by revenue, submission advanced on behalf of assessee was required to be dealt…
Sum incurred on modifications done in lease premises to run ‘Domino’s outlet, is allowable as revenue exp.: ITAT
INCOME TAX : Where assessee, a franchise of 'Domino's Pizza' and 'Dunkin Donuts', had take on lease bare shell premises of various entities and made extensive modifications in premises, considering…
Services of setting up office, appointing distribution partners etc. can’t be treated as intermediary services: CESTAT
EXCISE/ST/VAT : Appellant was neither related to import of goods nor any sale of goods and also nor concerned with payment against those goods, therefore, appellant not "Intermediary"EXCISE/ST/VAT : Appellant…
‘BENPOS’ report is not cogent evidence; imposition of penalty for violating PIT regulations to be set aside: SAT
COMPANY LAW/SEBI : Where appellant-compliance officer of company did not intimate about transaction of sale of shares done by employee of company within two working days as stipulated under Prohibition…
No time limit prescribed for permitting amendment of shipping bills; Dept. can’t deny amendment on ground of limitation : CESTAT
EXCISE/ST/VAT : As no time limit prescribed for permitting amendment of shipping bills under section 149 of Customs Act, 1962, Department cannot rely upon circular to deny amendment on ground…
RBI hikes policy repo rate by 40 bps to 4.40 % under the Liquidity Adjustment Facility
RBI has announced the increase in the policy repo rate under the liquidity adjustment facility (LAF) to 4.40 per cent with an immediate effect. Earlier the prescribed repo rate was…