Blogs

Mandava Foundation Vs ITO (ITAT Hyderabad) ITAT allows rectification of mistake of applying registration in Form 10AB instead of Form 10A The case of Mandava Foundation versus the Income Tax Officer (ITAT Hyderabad) revolves around a procedural error in the application for registration under the Income Tax Act, 1961. Here’s a detailed summary of the […]

Maruti Enterprise Vs ADIT(CPC) (ITAT Rajkot) The case of Maruti Enterprise versus the Assistant Director of Income Tax (CPC) (ITAT Rajkot) revolves around the disallowance of a deduction under section 43B of the Income Tax Act, 1961. Here’s a detailed summary of the order: Maruti Enterprise filed an appeal against the order of the National […]

Sandeep Singh Vs State Of U.P. And 2 Others (Allahabad High Court) In a recent ruling, the Allahabad High Court addressed the issue of license cancellation under the United Provinces Excise Act 1910. The case, Sandeep Singh vs. State of U.P., revolves around the cancellation of a liquor license without substantial evidence. The petitioner, Sandeep […]

Nitin Mavji Vekariya Vs ITO (Gujarat High Court) In the case of Nitin Mavji Vekariya versus the Income Tax Officer (ITO) before the Gujarat High Court, the court dealt with the challenge to an order issued under section 148A(d) of the Income Tax Act, 1961 for the Assessment Year 2018-19. Here’s a summary of the […]

Dion Global Solutions Limited Vs ACIT (ITAT Delhi) In the case of Dion Global Solutions Limited vs. ACIT, the Delhi Income Tax Appellate Tribunal (ITAT) addressed the imposition of penalties under Section 271(1)(c) of the Income Tax Act, 1961, concerning the assessment year 2007-08. The assessee challenged the penalty imposed on disallowance of expenses amounting […]

CIT Vs Dabur India Ltd (Delhi High Court) In the case of CIT vs. Dabur India Ltd, the Commissioner challenged the order passed by the Income Tax Appellate Tribunal (ITAT) dated April 12, 2017. The Commissioner proposed several questions of law for consideration. However, upon examination, it was found that the proposed questions primarily pertained […]

Shameem Sultana Vs Faizunnissa Begum (Telangana High Court) The application under Section 11(6) of the Arbitration and Conciliation Act, 1996 seeks the appointment of a sole arbitrator to resolve a dispute arising from a Partnership Deed dated 01.04.1994 between the applicant and respondents. The applicant sent notices requesting information and clarification related to the firm, […]

Pahari Mata Sahkari Awas Samiti Ltd. Vs ACIT (ITAT Lucknow) The Commissioner (Appeals) is duty bound to dispose of the appeal through a speaking order on merits on all the points which arose for determination in the appellate proceedings, including on all grounds of appeal; and that the Commissioner (Appeals) is not empowered to dismiss […]

In the midst of election fervor, Arjuna seeks guidance from Krishna on choosing the right insurance policy, akin to selecting the right candidate for long-term security. Krishna’s insights shed light on crucial factors to consider in this vital decision-making process. Arjuna (Fictional Character): Krishna, it is general elections period in our country and you can […]

KDDI Corporation Vs DCIT (ITAT Bangalore) Conclusion: Payments received by assessee towards interconnectivity utility charges from Indian customers or end users could not be considered royalties to be brought to tax in India under Article 12 of India -Japan DTAA as Explanations 5 and 6 to section 9(1)(vi) were not found in the definition of […]

Introduction The Maharashtra Ownership Flats (Regulation of the promotion of construction, sale, management and transfer) Act, 1963 (hereafter referred as the Act) aims to safeguard the interests of flat buyers, regulate real estate transactions, and ensure transparency and accountability in property dealings. Conveyance refers to the formal transfer of property ownership from the promoter (builder) to […]

Shamanna Reddy Vs ITO (ITAT Bangalore) In the case of Shamanna Reddy vs. ITO, the Income Tax Appellate Tribunal (ITAT) Bangalore addressed an appeal against the CIT(A)’s order concerning the Assessment Year 2018-19. The appellant, an individual, contested the dismissal of their appeal by the CIT(A) on technical grounds and the subsequent assessment order passed […]

Lalita Troy Caeiro Vs ITO (ITAT Mumbai) In the case of Lalita Troy Caeiro vs. ITO, the Income Tax Appellate Tribunal (ITAT) Mumbai addressed an appeal against the order of the National Faceless Assessment Centre (NFAC), Delhi, pertaining to the assessment year 2011-12 under section 143(3) read with section 147 of the Income Tax Act. […]

Smt. Kusum Mittal Vs DCIT (ITAT Delhi) The appeal filed by the Assessee against the order of the Commissioner of Income Tax (Appeals)-3, Gurgaon, dated 25/03/2022, for the Assessment Year 2017-18 was considered by the Income Tax Appellate Tribunal (ITAT) Delhi. The grounds of the assessee included challenges to the validity of the assessment proceedings […]

Ulliyeri Sree Nidhi Limited Vs Union of India (Kerala High Court)SEO Title: The Kerala High Court’s recent ruling on Nidhi Companies underscores the importance of regulating financial activities within the bounds of the law without rendering their operations impossible due to excessive restrictions. The court recognized the need for a reasonable regulatory framework, especially when […]

Kundal Raghubir Bhandari Vs ITO (ITAT Mumbai) In this case, the Income Tax Appellate Tribunal (ITAT) Mumbai reviewed an appeal filed by the assessee against an order by the Commissioner of Income Tax (Appeals), National Faceless Appeal Centre, Delhi. The dispute arose from the addition of ₹11,33,000/- as undisclosed income by the Assessing Officer. The […]

Ministry of Corporate Affairs (MCA) has issued a penalty order against Hermes I Tickets Private Limited for the non-maintenance of registers as per Section 171(2) of the Companies Act, 2013. Hermes I Tickets Pvt Ltd, a registered company in Tamil Nadu, faced scrutiny for non-compliance with Section 171(2) of the Companies Act, 2013. Despite the issuance […]

Registrar of Companies in Chennai has imposed penalties on Hermes I Tickets Private Limited and its directors for breaching Section 134(5)(b) of the Companies Act, 2013. The violation pertains to the directors’ responsibility statement in the company’s financial statements for the fiscal years 2014-15 and 2015-16. Despite notices and hearings, neither the company nor its […]

Kishore Bhagwandas Ramnani Vs ITO (ITAT Mumbai) In the case of Kishore Bhagwandas Ramnani Vs. ITO (ITAT Mumbai), the assessee appealed against the Dispute Resolution Panel’s (DRP) dismissal of objections regarding the disallowance of expenses claimed during scrutiny assessment. The DRP had cited the original Form 35A’s lack of signature by the authorized representative and […]

Mahesh Gurram Vs ITO (ITAT Visakhapatnam) The case of Mahesh Gurram Vs ITO, heard at the ITAT Vishakhapatnam, delves into the crucial matter of time-barred appeals and the necessity for sufficient cause for condonation of delay. This detailed analysis uncovers the intricacies of the case, shedding light on the legal proceedings and the final decision […]

Satbir Filing Station Vs Delhi Value Added Tax Officer Ward 101 & Ors. (Delhi High Court) Delhi High Court ruled in the case of Satbir Filing Station vs. Delhi Value Added Tax Officer Ward 101 & Ors. regarding the computation of interest on a delayed refund under Section 42 of the Delhi Value Added Tax […]

Chapter IV : Section 62 (1) (a) of Companies Act, 2013 Right issue of shares is a process by which a company raises further capital. This is done by offering a right to the existing shareholder to acquire shares, usually at a lower price compared to its market value. Companies Act states that whenever a […]

Non-disclosure of Beneficial Shareholding – Section 89(1) & 89(2): MCA Imposes Penalty The Registrar of Companies in NCT of Delhi & Haryana has imposed a penalty on STEP1 ADVERTISING PRIVATE LIMITED and its relevant stakeholders for non-disclosure of beneficial shareholding, as per Section 89 of the Companies Act, 2013. The company had not filed necessary […]

South Eastern Coalfields Limited Vs Commissioner of Central Excise and Service Tax (CESTAT Delhi) The recent ruling by the Delhi Bench of the Customs, Excise, and Service Tax Appellate Tribunal (CESTAT) in the case of South Eastern Coalfields Ltd. vs Commissioner of Central Excise has raised pertinent questions regarding Service Tax refund issues and judicial […]

In re Blue Star climatech Limited (CAAR Mumbai) In the recent case of In re Blue Star Climatech Limited, the Customs Authority for Advance Rulings (CAAR) in Mumbai addressed several crucial questions regarding import conditions, EPCG (Export Promotion Capital Goods) license usage, and export classifications. The ruling provides clarity on intricate matters impacting the operations […]

The Ministry of Corporate Affairs (MCA) has issued penalties against “Al-Ameen Mutual Benefit Nidhi Limited” for non-compliance with Section 158 of the Companies Act, 2013. The violation involves directors failing to mention their Director Identification Numbers (DIN) below their signatures in the financial statement for the year 2019-20. The case arises from the failure of […]

The International Financial Services Centres Authority (IFSCA) Circular 329, issued on May 03, 2024, addresses the import of UAE Good Delivery (UAEGD) Gold through the India International Bullion Exchange (IIBX) by valid India-UAE Tariff Rate Quota (TRQ) holders. This circular aims to streamline the process and ensure compliance with the India-UAE Comprehensive Economic Partnership Agreement […]

Hexaware Technologies Limited Vs ACIT (Bombay High Court) The case of Hexaware Technologies Limited Vs ACIT, heard in the Bombay High Court, addresses significant issues surrounding reassessment proceedings under Section 148A of the Income Tax Act, 1961. This article delves into the key aspects of the case, the court’s findings, and their implications. Detailed Analysis: […]

Sarfaraz S. Furniturewalla Vs Afshan Sharfali Ashok Kumar & Ors (Bombay High Court) The petitioner, represented by Pardiwala, sought clarity on the wording of a court order regarding the payment of interest. Subsequently, the issue of TDS deduction on ‘Transit Rent’ was raised by Dhanani, to which Pardiwala contested citing precedents from the Income Tax […]

The Registrar of Companies, Uttar Pradesh, Kanpur, acting as the Adjudicating Officer, has imposed penalties on “Al-Ameen Mutual Benefit Nidhi Limited” and its directors for failing to comply with Section 117 of the Companies Act, 2013. The company did not file Form MGT-14 for the approval of accounts for the financial years ending on March […]

Nimir Kishore Mehta Vs ACIT (Bombay High Court) In the case of Nimir Kishore Mehta Vs ACIT, the Bombay High Court has ruled on the validity of a notice and order issued by the Assessing Officer (AO) under Section 148A(b) of the Income Tax Act. The petitioner, an NRI, challenged the jurisdiction of the AO, […]

Introduction: The Ministry of Corporate Affairs (MCA) has issued an adjudication order against EUEB India Private Limited for violating Rule 149 of the Companies Act, 2013. This article provides an in-depth analysis of the order and its implications on the company. Detailed Analysis: EUEB India Pvt Ltd, registered under the Companies Act, faced scrutiny for […]

Non-providing minutes of Board Meeting approving Financial Statements: MCA Imposes Penalty The Ministry of Corporate Affairs (MCA) recently imposed penalties on EUEB India Private Limited for violating rules pertaining to board meetings under the Companies Act, 2013. Specifically, the company failed to provide minutes of the board meeting where financial statements for the fiscal year […]

Abstract Shareholder activism within corporate law encapsulates the evolving role of shareholders in influencing corporate governance, strategy, and decision-making within companies. This abstract explores the multifaceted nature of shareholder activism, its mechanisms, implications, and its impact on corporate governance dynamics. Shareholder activism denotes the proactive involvement of shareholders in advocating for changes within a company. […]

Pension: A Necessity By Dr. Deepak Mohanty1 I thank Professor (Dr.) Tarun Agarwal, Director, National Insurance Academy (NIA), Pune, for this opportunity to interact with the esteemed faculty and distinguished invitees. There is considerable synergy between insurance and pension for old-age income security and wellbeing. There are two key concerns on retirement: drop in income […]

Minutes not complied with Section 118(10) & Secretarial Standard-2 (SS-2): MCA imposes Penalty: The Registrar of Companies, Madhya Pradesh, issued an order imposing penalties on M/S Feranbraj Toll and Highway Pvt Ltd and its directors for failure to comply with Section 118(10) of the Companies Act, 2013, and Secretarial Standard – 2 regarding the minutes […]

The Registrar of Companies, Madhya Pradesh, issued an adjudication order imposing penalties on RSUN Pharma Pvt Ltd and its directors for not mentioning the company’s CIN, address, and name on its letterhead, violating Section 12(3)(c) of the Companies Act, 2013. Despite receiving notices, the company and its directors failed to appear, leading to an ex-parte […]

It’s Time to File Income Tax Return: Know All About Old and New Tax Regime and Filling of Form 10-IEA The Government in union budget 2023 had made New Income Tax regime as a default tax regime for all the taxpayers and taxpayers who want to opt for the old tax regime will now have […]

Funding v/s Bootstrapping Now- a-days, funding has become a new trend, as soon as one come-up with an idea, creates projections and immediately seeks VCs or investors for funding. But is this approach suitable for every startup? Is it worth investors’ money? In this article, we shall be covering bootstrapping and funding, discussing which should […]

Balancing the Pros and Cons of AI and Predictive Analytics in Legal Decision-making: Why Human Intervention and Oversight Remain Vital Artificial Intelligence (AI) has been around since the early 1950s and has become the buzz of the tech world. AI is not based on human-like carbon-based tissues, but rather silicon-based chipsets of the processors that […]

The Ministry of Corporate Affairs (MCA) recently imposed a penalty on MIS Sandal Nidhi Limited due to an error in their auditor appointment letter. 1. Violation Identification: The issue stemmed from a discrepancy in the company name mentioned in the auditor appointment letter attached in ADT-1. Instead of “M/s Sandal Nidhi Limited,” the letter referred […]

The Ministry of Corporate Affairs, through the Registrar of Companies in Chennai, issued an adjudication order under Section 77 of the Companies Act, 2013 against M/s Shinago International (India) Private Limited for failing to register charges with the Registrar. The company and its managing director, Shri. Suresh Nathu Patel, were found liable for penalty under […]

The Registrar of Companies, Chennai, acting as the Adjudicating Officer, issued an adjudication order under Section 149(1) of the Companies Act, 2013 against WS. Info-Drive Software Limited (now under liquidation). The company was found in violation of Section 149(1) for not appointing a woman director on its board as required for listed companies under Rule […]

The Registrar of Companies, Chennai, acting as the Adjudicating Officer, issued an adjudication order under Section 94 of the Companies Act, 2013 against M/s Hermes I Tickets Private Limited. The company was found in violation of Section 94 for not keeping and maintaining the required registers at its registered office as mandated by the Act. […]

The Registrar of Companies, Chennai, acting as the Adjudicating Officer, issued an adjudication order under Section 171(2) of the Companies Act, 2013 against M/s Hermes I Tickets Private Limited for non-maintenance of registers as prescribed under the Act. An inquiry was conducted, and the company was directed to submit various documents related to registers, returns, […]

Disclosures requirements under Section 134 (3) of Companies Act, 2013. (a) the web address, if any, where annual return referred to in sub-section (3) of section 92 has been placed (b) number of meetings of the Board; (c) Directors’ Responsibility Statement; (ca) details in respect of frauds reported by auditors under sub-section (12) of section […]

In re Vivo Mobile India Pvt Ltd. (CAAR New Delhi) M/s. Vivo Mobile India Pvt. Ltd. has sought an advance ruling from the Customs Authority for Advance Rulings, New Delhi (CAAR) regarding the classification of Thermal Putty used in manufacturing mobile phones. This article delves into the detailed analysis of the issue and the ruling […]

Introduction: The International Financial Services Centres Authority (IFSCA) recently issued a circular aimed at facilitating investments by Non-Resident Indians (NRIs) and Overseas Citizens of India (OCIs) into Indian securities through schemes and funds in International Financial Services Centres (IFSCs). This circular addresses alternative routes and compliance requirements to enhance participation in the Indian securities market. […]

Dear friends, ITR Filing season is on and taxpayers are busy in arranging documents that are required while filing Income Tax return. In the past 5-6 years a growing trend has been seen in number of taxpayers filing ITR. Each year many new taxpayers are starting Income Tax return Filing. In today’s article, we will […]

Introduction In our increasingly interconnected world, many Indian taxpayers find themselves earning income from foreign sources. Whether it’s through international business ventures, employment abroad, or investments overseas, such income can lead to the complexities of double taxation. However, the Indian government provides a solution in the form of the Tax Credit, which allows eligible taxpayers […]

The Ministry of Corporate Affairs, through the Registrar of Companies, Chennai, acting as the Adjudicating Officer, issued an adjudication order against M/s. Aalamara Nidhi Limited for violation of Section 117 and Section 179(3)(g) of the Companies Act, 2013. The violation pertains to the failure of the company to file Form MGT-14 for the board resolutions […]

Article explains Reverse Charge Mechanism (RCM) under GST law, its necessity, eligibility criteria, time and tax payment aspects, with comprehensive insights and examples. The post RCM in GST: Basics, Analysis, & Impact appeared first on TaxGuru. Source link

Netcore Solutions Pvt. Ltd. Vs Union of India & Ors. (Bombay High Court) The Hon’ble Bombay High Court allowed the writ petition and set aside the rejection order. The original records were called for. There was no record of service of notice or order in the file. The petitioner is a technology solutions service provider. […]

The Section 2(s) of Payment of Gratuity Act, 1972 defines “wages” meaning all emoluments which are earned by an employee while on duty or on leave in accordance with the terms and conditions of his employment and which are paid or are payable to him in cash and includes dearness allowance but does not include […]

Sovereign Gold Bonds (SGBs) are the government securities denominated in grams of gold. These are issued by Reserve Bank of India on behalf of Government of India. SGBs are the perfect alternate to physical gold. The Bonds are sold through offices or branches of Nationalised Banks, Scheduled Private Banks, Scheduled Foreign Banks, designated Post Offices, […]

Introduction A debit note is a commercial document commonly used in business-to-business (B2B) transactions, which can be utilized by either buyers or sellers to address the amount owed for the sale of goods or services. Essentially, it serves as an additional note associated with an invoice, typically indicating the necessity to adjust the invoiced amount. […]

According to the recent office order, EPFO has increased the maximum limit of Retirement gratuity and death gratuity by 25% to Rs. 25 Lakh from the existing Rs. 20 Lakh. This adjustment is in response to the revision of Dearness Allowance payable to Central Government Employees, which has risen to 50% of the basic pay […]

Under the Income Tax Act, 1961, the computation of income is categorized into five heads, with Capital Gains being one of them. Capital Gains entail profits or gains derived from the transfer of capital assets. This article aims to provide a detailed understanding of Capital Gains, including the types of income falling under this head […]

Income Tax Implication of conversion of Partnership Firm / Proprietorship Firm in to Private Limited Company Overview: When converting an existing Partnership Firm or Proprietorship Firm into a new private limited company, there is a change in ownership on paper, but the implications in reality is quite considerable. It raises questions regarding whether such a […]

INTRODUCTION Until now, Indian companies were not permitted to list their shares directly on overseas markets, and instead use depository receipts (American Depository Receipts or Global Depository Receipts) to do so. Indian businesses will be given the “flexibility to access both markets domestic market for raising capital in INR and the international market at IFSC […]

Instruction No. 12/2024-Customs, issued by the Central Board of Indirect Taxes and Customs (CBIC), addresses the review of G-Card holder requirements at Customs stations and the conduct of G-Card examinations. This article examines the details of this instruction and its implications on Customs procedures. Regulation 13 of CBLR, 2018 outlines the engagement or employment of […]

SAED on Petroleum Crude Production Reduced to ₹8,400 per Tonne from May 01, 2024 from earlier ₹9,600 per Tonne vide Notification No. 13/2024-Central Excise | Dated: 30th April, 2024. MINISTRY OF FINANCE(Department of Revenue)NOTIFICATIONNew Delhi, the 30th April, 2024 Notification No. 13/2024-Central Excise | Dated: 30th April, 2024 G.S.R. 267(E).— In exercise of the powers conferred […]

Commissioner of Central Excise, Customs and Service Tax Vs Viraj Steel and Energy Limited (CESTAT Kolkata) The Commissioner of Central Excise challenged Viraj Steel and Energy Limited’s CENVAT credit claims on various steel items. This led to an appeal, resulting in a crucial ruling by CESTAT Kolkata. The crux of the matter lay in whether […]

Exploring the intersection of Artificial Intelligence (AI) and legal frameworks: ethical considerations, regulatory challenges and the future of AI in law INTRODUCTION The push to blend artificial intelligence (AI) with the world of law is fast and full of promise for changing how legal work gets done. AI tools are making legal tasks easier, research […]

Introduction: The Ministry of Corporate Affairs (MCA) has taken strict action against Inchoi Technology Electronic Materials Private Limited for non-compliance with Rule 12(A) of the Companies (Appointment and Qualification of Directors) Rules 2014. The deactivation of the KYC status of one of its directors due to the non-filing of DIR-3-KYC has resulted in the imposition […]

Ravi Shankar Tiwari Vs Automattic Inc. (Central Information Commission) The Central Information Commission (CCI) has ruled in favor of Automattic Inc., the parent company of WordPress.org, dismissing allegations of abusing its dominant position in the market. The case, filed by software developer Mr. Ravi Shankar Tiwari under Section 19(1)(a) of the Competition Act, 2002, accused Automattic […]

SEZ units furnishing LUT are not required to pay GST on RCM for services availed from DTA supplier The Gujarat, AAR in the matter of M/s. Waaree Energies Limited [Advance Ruling No. GUJ/GAAE/R/2024/09 dated April 16, 2024] held that the Special Economic Zone units (“SEZ unit”) are not required to pay GST under Reverse Charge […]

Vadakkot Chackoo Devassy Vs Assistant State Tax Officer (Kerala High Court) The Hon’ble Kerala High Court in the case of Vadakkot Chackoo Devassy vs. Assistant State Tax Officer [WP (C) No. 42265 of 2023 dated December 21, 2023] set aside the Assessment Order and remitted the matter back for reconsideration in case where the Assessee could […]

कुछ कर पदाधिकारी द्वारा GSTR-9और GSTR-9C के संबंध में अर्थ दंड के नोटिस जारी किए जा रहे हैं ।जबकि जीएसटी एक्ट के अनुसार GSTR-9C केवल एक समाधान विवरण पत्र है ।जो रिटर्न की श्रेणी में नहीं आता है ।जीएसटी एक्ट की धारा 47 रिटर्न लेट दाखिल करने पर लेट फीस का प्रावधान करती है ।अर्थात […]

In an era defined by unprecedented connectivity and digital innovation, the guardianship of our digital realm has become an imperative task. Cyber threats loom large, ranging from individual hackers seeking personal gain to nation-state actors aiming to disrupt critical infrastructure. In response to these evolving challenges, the integration of artificial intelligence (AI) has emerged as […]

There are talks of an Inheritance Tax @ 55% being imposed on all the persons who pass-away and his property passes to his heirs by Will or Intestate. This is a worrisome situation for all of us as the hard earned income and wealth would be shared by those who are parasites and live only […]

The Institute of Chartered Accountants of India (ICAI) has put forth its Pre-Budget Memorandum 2024 to the Central Board of Direct Taxes (CBDT), advocating for significant tax reforms to bolster economic growth, environmental sustainability, and social welfare. ICAI’s Pre-Budget Memorandum 2024 underscores the importance of tax reforms to foster economic growth, environmental sustainability, and social welfare. […]

Choosing the right structure of business is of utmost importance as it impacts compliances with various laws and regulations and operational efficiency. This article analyzes various business structures in India and their impact on taxation, liability, and operational control. The structure of business is usually decided based on various factors summarized below: • Personal Liability […]

Comparative Analysis of Certain Vital Compliance Documents 1. INTRODUCTION Companies have a fundamental obligation to comply with several laws. Ensuring compliance sets an atmosphere for effective corporate governance. Companies are subject to numerous laws that govern and oversee them in order to ensure that they operate within a permissible framework. Ensuring compliance with the many […]

Foreign Remittance for Interest on Advance Payments in Imports, whether allowed? Introduction: Overseas contracts often stipulate remittance of interest on prepayment advances in import transactions, leading to confusion and disputes. This discussion examines the fairness of such demands by overseas sellers and delves into the complexities of contractual terms, shedding light on the ensuing chaos […]

In re Landmark Cars East Private Limited (GST AAR West Bengal) The case of Landmark Cars East Private Limited (GST AAR West Bengal) delves into the intricacies of GST regulations concerning demo cars. This article examines the authority’s rulings on input tax credit, tax rates, and classification for demo cars, offering comprehensive insights into the […]

In re Sekandar Sardar (GST AAR West Bengal) The case of Sekandar Sardar’s GST Advance Ruling in West Bengal pertains to the classification and taxation of disposable paper cups. This article delves into the intricacies of the ruling, addressing concerns regarding HSN codes, tax rates, and refund possibilities. The applicant, engaged in the manufacturing of […]

Exploring the intersection of artificial intelligence (AI) and legal frameworks: ethical considerations, regulatory challenges, and the future of AI in law. Introduction The push to blend artificial intelligence (AI) with the world of law is fast and full of promise for changing how legal work gets done. AI tools are making legal tasks easier, research […]

In re Anmol Industries Limited (GST AAAR West Bangal) The appeal revolves around Anmol Industries Limited’s leasing agreement with Shyama Prasad Mukherjee Port, Kolkata, seeking exemption under entry 41 of Notification No. 12/2017 Central Tax (Rate) dated 28.06.2017. The WBAAR denied exemption, triggering the appeal process. The crux of the matter lies in determining whether […]

KEC International Ltd Vs Union of India (Kerala High Court) In a recent development, the Kerala High Court addressed three writ petitions, including one by KEC International Ltd against the Union of India. These petitions shared common factual and legal questions, leading to their consolidation. The primary prayer in W.P.(C) No.4790/2024 included requests to: A. […]

Reliable Automotive Private Limited Vs Commissioner of CGST & Central Excise (CESTAT Mumbai) The appellant is a dealer. It purchases heavy vehicles from Tata Motors and cars from Hyundai Motors. The said vehicles are sold to customers. A demand of service tax of over Rs.33 crores was raised on the appellant on the ground: (i) […]

Can we declare GST credit note in returns even after 30th November of the subsequent financial year? The author has tried to analyse and deep dive this aspect in the below article. Introduction Credit note is a very common financial document which is issued by almost all kinds of businesses. In simple terms, credit note […]

CAN A REGISTERED PERSON ISSUE GST CREDIT NOTE U/S 34 WRT B2C SUPPLIES? Introduction This document makes an attempt to see whether a Goods and Service Tax (GST) Credit Note as enumerated under Section 34 can be issued even with respect to supplies of goods or services made to Unregistered dealers. There is an ambiguity […]

B.G. Shirke Oil & Gas India Pvt Ltd Vs Commissioner of Central Tax Visakhapatnam – GST (CESTAT Hyderabad) The Hon’ble CESTAT, Hyderabad set aside the demand and allowed the appeals. It held: (i) there was no consideration paid by ONGC. There was no invoice. The appellant is engaged in mining of mineral, oil and gas. […]

INTRODUCTION The Indian securities market has undergone remarkable transformation in recent years, driven by the rapid adoption of cutting-edge technologies and the ever-increasing integration of Artificial Intelligence (AI) systems. A well-regulated and transparent securities market is crucial for sustainable economic growth. The secondary market, where securities are traded by investors on an everyday basis reflects […]

[***]PCIT (Central)-II Vs Trent East West LPG Bottling Ltd (Delhi High Court) Delhi High Court held that acceptance of settlement and order passed by the Income Tax Settlement Commission (ITSC) based on full and true disclosure not to be interfered under Article 226 of the Constitution. Thus, reasoned order of settlement commission cannot be interfered. […]

In the intricate web of customs regulations, the nexus between CBIC, DGFT, and JNCH Customs has sparked controversies. Part 1 shed light on the binding CBIC Circular No. 58/2004-Cus and its clear directives. However, manipulative interpretations persist, raising questions of ulterior motives. The government is paying very handsome salaries to the officials to ensure that […]

The Government of India, through the Ministry of Finance and the Department of Revenue, continues its efforts to streamline operations within the Central Board of Indirect Taxes & Customs (CBIC). In a recent newsletter dated 29th April 2024, Sanjay Kumar Agarwal, addressing colleagues, emphasizes the importance of functional efficiencies and updates on key interceptions against […]

Introduction Minimally invasive surgery (MIS) has revolutionized the field of surgery, offering patients less pain, shorter recovery times, and reduced risk of complications compared to traditional open procedures. From laparoscopy to robotic-assisted surgery, MIS techniques have evolved significantly over the years, providing surgeons with greater precision and dexterity. However, despite these advancements, challenges remain, including […]

Information examination and artificial intelligence, or “man-made intelligence,” have been employed increasingly in various endeavors, and the law is not an exception. Although the use of AI and data analysis in the Indian legal system is still in its infancy, the potential benefits are enormous. This blog explores how artificial intelligence (AI) and data analysis […]

Traversing the Labyrinthine Terrain of Jurisprudence: Harnessing the Transformative Potential of Artificial Intelligence in the Hallowed Domain of Corporate Contract Administration Introduction The legal realm stands poised at the precipice of a transformative era, catalysed by the rapid ascension of artificial intelligence (AI) technologies. Within this evolving tapestry, the intersection of AI and corporate law, […]

Unravelling the Profound Influence of Artificial Intelligence on Corporate Governance Practices: Navigating the Intricate Terrain of Company Law Introduction The integration of artificial intelligence (AI) technologies into corporate governance practices is ushering in a transformative era, reshaping how companies operate and fulfill their obligations to shareholders and stakeholders. AI is unlocking a myriad of possibilities […]

Rogue Algorithms: How AI Is Being Used For Terrorism INTRODUCTION: In recent years Artificial Intelligence (AI) has gain significant attention. Its use has aided in increasing productivity and development withing various industries (including the legal industry) hence, it has proved to be a boon to the society. However, like every other digital technology, AI has […]

Penna Cement Industries Ltd. Vs State of Andhra Pradesh (Andhra Pradesh High Court) In a recent case before the Andhra Pradesh High Court, Penna Cement Industries Ltd. challenged the initiation of GST recovery proceedings by the state. The court’s judgment sheds light on crucial aspects of GST law and the procedure for challenging tax assessments. […]

ICAI held role of the Respondent in the alleged provisioning of forged and fabricated acknowledgement receipts of payment of income tax filing of income tax return of the Complainant which depict not only payment of income tax but also filing of Income Tax returns for the AY 2009-10 and 2010-11 cannot be ruled out. In […]

The ICAI Disciplinary Committee found that the respondent firms (S. R. Batliboi & Associates, LLP, S.R.B.C & Co., LLP  and S. R. Batliboi & Co., LLP ) displayed a close association with Ernst & Young (EY) through their visiting cards and email addresses, indicating a lack of independence. This practice was deemed as professional misconduct […]

The ICAI Disciplinary Committee held a hearing on March 12, 2024, where the Respondent participated via video conferencing and submitted verbal and written representations. The Respondent explained that their association with the international entity, Russell Bedford International, was primarily for staying updated on international practices, denying any direct work referrals or payment of referral fees. […]

In a recent disciplinary matter before the Institute of Chartered Accountants of India (ICAI), involving M/s S. V. Ghatalia & Associates, LLP and CA Tridibes Basu, the Disciplinary Committee reached a significant decision following a thorough examination of the case. The proceedings stemmed from findings under Rule 18(17) of the Chartered Accountants (Procedure of Investigations […]

Companies registered under the Companies Act 2013 must adhere to annual ROC compliance to avoid penalties. This article outlines crucial dates and necessary forms for fulfilling compliance obligations. Proper disclosure of director interests, timely payment to MSME vendors, and filing of annual accounts and returns are pivotal to regulatory adherence. Additionally, adherence to director KYC […]

Introduction The case law, W.P.No.9624 of 2024, heard in the High Court of Judicature at Madras, revolves around a writ petition filed by M/s. Oasys Cybernetics Private Limited against the State Tax Officer regarding an assessment order issued on 29.12.2023. This case brings to light the intricate dynamics of taxation under the GST regime and […]