Change of classification by Dept. on basis of inconclusive reports without having sample retested is incorrect: CESTAT

EXCISE/ST/VAT : Change of classification by Department based on inconclusive reports without having sample retested was incorrect, assessee's classification was not to be disturbedEXCISE/ST/VAT : Change of classification by Department…

Continue ReadingChange of classification by Dept. on basis of inconclusive reports without having sample retested is incorrect: CESTAT

SC dismissed SLP against ruling justifying rejection of books as production of oil was inconsistent with power consumption

INCOME TAX : SLP dismissed against High Court ruling that since production of oil recorded by assessee in its books of account was completely inconsistent with pattern of power consumed,…

Continue ReadingSC dismissed SLP against ruling justifying rejection of books as production of oil was inconsistent with power consumption

RBI modifies eligibility criteria for farmers engaged in fisheries/ aquaculture under Kisan Credit Card (KCC) Scheme.

Considering the difference in licensing/authorisation requirements w.r.t to fishing/aquaculture in inland water bodies across states, RBI has modified the eligibility criteria for inland fisheries amp; aquaculture as mentioned in KCC…

Continue ReadingRBI modifies eligibility criteria for farmers engaged in fisheries/ aquaculture under Kisan Credit Card (KCC) Scheme.

Provisions relating to registered office of Company under Cos. Act 2013 and consequences of non-compliance – a case study

The registered office of a company is by and large the principal place of business activities conducted by a company.The registered office of a company is by and large the…

Continue ReadingProvisions relating to registered office of Company under Cos. Act 2013 and consequences of non-compliance – a case study

An order of HC does not become inoperative merely because Dept. filed an appeal or SLP against it: High Court

INCOME TAX: Unless there is a stay obtained by authorities under Income-tax Act, 1961 from higher forum, mere fact of filing appeal or SLP will not entitle authority not to…

Continue ReadingAn order of HC does not become inoperative merely because Dept. filed an appeal or SLP against it: High Court

SC issued notice against ruling wherein it was held that LTCG exemption on shares denied by AO was based on assumption

INCOME TAX : Notice issued in SLP against High Court ruling that where assessee claimed exemption under section 10(38) on account of LTCG on sale of shares of a company…

Continue ReadingSC issued notice against ruling wherein it was held that LTCG exemption on shares denied by AO was based on assumption