Judgements and Orders, Supreme Court and High courts of India

Where two reasonable constructions of a taxing provision are possible then the construction which favours the assessee must be adopted

Bimal Jain 03 December 2021 at 15:56

The Hon'ble Customs, Excise & Services Tax Appellate Tribunal, Bangalore ("CESTAT") in the matter of John's Cashew Company v. Commissioner of Customs, Cochin [Final Order 20792 /2021 dated October 18, 2021], allowed the refund of 4% of Special Additi

Posted in Excise | 203 Views

Karnataka AAR ruled that 5% GST applicable on packed and branded Pushti

Bimal Jain 02 December 2021 at 11:55

The Hon'ble Karnataka Authority for Advance Ruling ("the Karnataka AAR") in the matter of M/s. Devanahalli and Hosakote Taluks MSPC [Advance Ruling No. KAR ADRG 56/2021 dated October 29, 2021], ruled that Pushti is classified under HSN code 1106. If

Posted in GST | 245 Views

Hon'ble High Court directed GST Authority to refund GST paid under wrong head

Bimal Jain 02 December 2021 at 11:55

The Hon'ble Punjab and Haryana High Court ("Punjab and Haryana HC") in the matter of SBI Cards & Payment Services Limited v. Union of India and others [CWP-8108-2021 (O&M) dated October 08, 2021], directed the Authority to refund GST worth Rs. 108 cr

Posted in GST | 272 Views

Concessional GST rates not applicable to activity of manufacture and supply of fortified rice kernels till Sep 30, 2021

Bimal Jain 01 December 2021 at 11:24

In Rasi Nutri Foods [Order No. 39 AAR/2021 dated October 21, 2021] Authority for Advance Ruling, Karnataka ("KAAR") held that Notification 39/2017 Central Tax (Rate) dated October 18, 2017 ("Concessional Rate Notification") read with G.O.M's No. 140

Posted in GST | 294 Views

ITAT directed AO to delete the additions made on account of capitalization of royalty expenses as they were revenue in nature

Bimal Jain 01 December 2021 at 11:24

The Hon'ble Income Tax Appellate Tribunal, Delhi ("ITAT") in the matter of Honda Motorcycle and Scooter India Pvt. Ltd. v. ACIT, Circle: 4 (1) New Delhi [ITA. No. 477/Del/2021 dated November 09, 2021], directed the Assessing Officer ("AO") to delete

Posted in Income Tax | 162 Views

Is the fees of independent auditors appointed for reporting to CoC charged as CIRP cost?

Poojitha Raam Vinay 01 December 2021 at 10:34

This Order disposes of the Show Cause Notice (SCN) No. IBBI/IP/INSP/2020/45 dated 01.04.2021 issued to Mr. Pawan Kumar Garg, R/o – 25-A, J-Pocket, Sheikh Sarai-II, New Delhi-110017 who is a Professional Member of Indian Institute of Insolvency Profes

Posted in Audit | 410 Views

Legislative Intent as prescribed by CBDT

Poojitha Raam Vinay 01 December 2021 at 10:34

Appeal filed under section 260A of Income Tax Act,1961

Posted in Income Tax | 160 Views

Are foreign currency convertible bonds considered a part of capital employed for deduction u/s 35D?

Poojitha Raam Vinay 01 December 2021 at 10:34

THIS INCOME TAX APPEAL IS FILED UNDER SECTION 260-A OF INCOME TAX ACT 1961, ARISING OUT OF ORDER DATED 19.06.2015

Posted in Income Tax | 266 Views

Criteria for Deduction u/s 80(10) despite violation of certain deductions

Poojitha Raam Vinay 01 December 2021 at 10:34

THIS APPEAL IS FILED UNDER SECTION 260A OF THE INCOME-TAX ACT, 1961, ARISING OUT OF ORDER DATED 11.09.2015

Posted in Income Tax | 252 Views

Payment of price is an essential part of a sale, thus sale deed executed without payment of price is void: Supreme Court

Bimal Jain 30 November 2021 at 09:45

In Kewal Krishan v. Rajesh Kumar & Ors. Etc. [Civil Appeal Nos. 6989-6992 of 2021 arising out of S.L.P. (C) Nos. 2033-2036 of 2016 dated November 22, 2021] Hon'ble Supreme Court held that the payment of price is an essential part of a sale covered by

Posted in Community & General | 1149 Views