Refund of ST paid on grant of liquor license not hit by bar of unjust enrichment even if shown as expense in Pamp;L: CESTAT

EXCISE/ST/VAT : Refund sought by assessee of Service Tax paid on grant of liquor license by State Government in view of retrospective exemption granted by Finance Bill, 2019 cannot be…

Continue ReadingRefund of ST paid on grant of liquor license not hit by bar of unjust enrichment even if shown as expense in Pamp;L: CESTAT

Refund of ST paid on grant of liquor license not hit by bar of unjust enrichment if shown as expense in Pamp;L : CESTAT

EXCISE/ST/VAT : Refund sought by assessee of Service Tax paid on grant of liquor license by State Government in view of retrospective exemption granted by Finance Bill, 2019 cannot be…

Continue ReadingRefund of ST paid on grant of liquor license not hit by bar of unjust enrichment if shown as expense in Pamp;L : CESTAT

HC set-asides additions made in hands of Co. solely relying upon statement of director recorded during survey

INCOME TAX : Assessing Officer could not make additions on account of undervaluation of stock by solely relying upon statement of director of assessee-company which was recorded during course of…

Continue ReadingHC set-asides additions made in hands of Co. solely relying upon statement of director recorded during survey

SC issued notice in SLP filed against ruling that assessee was entitled to claim dep. on assets leased to others

INCOME TAX : Notice issued in SLP filed against impugned order of High Court that assessee was entitled to claim depreciation on assets leased to othersINCOME TAX : Notice issued…

Continue ReadingSC issued notice in SLP filed against ruling that assessee was entitled to claim dep. on assets leased to others

Order of single judge upholding reassessment as assessee was given liberty to file reply is valid: HC

INCOME TAX : Where Assessing Officer in reassessment proceedings had only indicated reasons for reopening assessment and had not come to a definite conclusion as to whether any case had…

Continue ReadingOrder of single judge upholding reassessment as assessee was given liberty to file reply is valid: HC

MCA further extends the timeline for filing of Annual Return by LLPs up to 15.07.2022 without any additional fee

The MCA has decided to further extend the timeline and allow Limited Liability Partnership (LLPs) to file e- Form 11 (Annual Return) for the financial year 2021-22 without paying additional…

Continue ReadingMCA further extends the timeline for filing of Annual Return by LLPs up to 15.07.2022 without any additional fee

SEBI allows FPIs to participate in Exchange Traded Commodity Derivatives market to enhance liquidity amp; market depth

The SEBI, in its board meeting, has decided to allows FPIs to participate in the Exchange Traded Commodity Derivatives market to enhance liquidity amp; market depth. Further, the board considered…

Continue ReadingSEBI allows FPIs to participate in Exchange Traded Commodity Derivatives market to enhance liquidity amp; market depth

Assessee liable to pay interest on late payment of interest payable under sections 234A, 234B and 234C: HC

INCOME TAX : Where assessee paid interest on late payment of tax belatedly after application to waive such interest amount got rejected, assessee was liable to pay interest on such…

Continue ReadingAssessee liable to pay interest on late payment of interest payable under sections 234A, 234B and 234C: HC