Nuacht

Tax Guru47 nóiméad

Can a GST Credit Note Be Issued for Returned Export Goods After Claiming IGST Refund?

Whether exporter can issue a GST credit note for returned goods. As per current provisions of GST law and administrative ...
Tax Guru1 uair an chloig

Arbitration Clause in a Contract – Importance of Precise Contract Drafting

Supreme Court emphasized that clauses using permissive language, such as may be sought, do not establish a binding ...
Tax Guru1 uair an chloig

Condonation of GST Appeal Filing Delay – Liberal vs. Strict Interpretation

Courts differ on condoning GST appeal delays beyond limits. Madras HC adopts a liberal approach, while Allahabad HC insists on strict statutory ...
Tax Guru2 uair an chloig

NCLAT Allows Fresh Form ‘G’ & EoIs, CIRP to Be Completed Timely

NCLAT Chennai held that resolution professional is permitted to issue fresh Form G and to invite Expression of Interest (EoI) from new and interested eligible Prospective Resolution Applicants subject ...
Tax Guru2 uair an chloig

Temporary retention of goods in non-bonded area with permission from customs authorities allowable

CESTAT Mumbai held that there is no provision/ stipulation that prohibits temporary retention of goods in non-bonded area while remedies were under way and, that too, with permission from customs ...
Tax Guru2 uair an chloig

Detention of worn jewellery untenable as covered within ambit of personal effects

Delhi High Court held that the used jewellery worn by the passenger would fall within the ambit of personal effects in terms of the Baggage Rules, 2016. Accordingly, the same would be exempt from ...
Tax Guru2 uair an chloig

No denial of refund based on splitting of invoices for Service Tax paid properly

They also explained that the renting service, including furniture, was approved by the SEZ Unit Approval Committee for use in authorized operations. Department argued that furniture did not fall under ...
Tax Guru2 uair an chloig

Delay of 26 days in filing report u/s. 106 of IBC by resolution professional condoned as reasonable cause shown

NCLAT Chennai held that delay of 26 days in filing of the report under Section 106 of the Insolvency and Bankruptcy Code, 2016, by the Resolution Professional condoned as reasonable cause of ...
Tax Guru2 uair an chloig

Assessment not challenged, yet revision quashed for invalid scrutiny notice: ITAT Kolkata

ITAT Kolkata ruled a Section 263 revision invalid because the underlying Section 143(3) assessment was based on an improperly formatted Section 143(2) notice, violating CBDT ...
Tax Guru3 uair an chloig

ITAT Hyderabad Allows Foreign Tax Credit as Form 67 Filed Before AY End

ITAT Hyderabad permits ₹49.65 lakh Foreign Tax Credit as assessee filed Form 67 within amended Rule 128(9) timeline for AY ...
Tax Guru3 uair an chloig

Section 10(46): AP Pollution Control Board Income Notified as Tax Exempt

Finance Ministry exempts specified income of Andhra Pradesh Pollution Control Board from tax under Section 10(46). Applies from AY 2022-23 to ...
Tax Guru3 uair an chloig

No addition of LTCG on sale of immovable property as CIT(A)’s order lacks proper reasoning

CIT(Appeals) failed to admit the additional evidences which went to the root of the matter for determining the issue of taxability of long term capital gains as was made by AO ignoring the submissions ...