Judgements and Orders, Supreme Court and High courts of India
Valuation of unlisted shares should be on the basis of audited balance sheet
FCS Deepak Pratap Singh 14 February 2023 at 09:52
Generally companies in which public are not substantially interested issue shares at a price more than Face Value of Shares or more than Fair Market Value of shares and keep the proceeds above normal value of shares in Share Premium Account. If compa
CGST and SGST Authority cannot simultaneously prosecute the assessee on the same subject matter
Bimal Jain 13 February 2023 at 12:09
The Hon'ble Madras High Court in the matter of Tvl Metal Trade Incorporation v. the Special Secretary, Head of the GST Council Secretariat and Ors. [W.P.No. 3033 of 2023 And W.M.P.No. 3125 of 2023 dated February 6, 2023] has held that, the State Tax
Claim amount was disputed - Commission ordered for payment of full amount of claim
Bimal Jain 13 February 2023 at 10:42
In the case of Sheikh Bhullan& Sons also, the surveyor report clearly shows that in the opinion of the surveyor, the boundary wall capable of being repaired at the total cost of Rs.611700.96 which comprised Rs.475700.96 towards the cost of material a
Refund cannot be denied for an inadvertent error which was subsequently rectified
Bimal Jain 11 February 2023 at 14:12
The Hon'ble Delhi High Court in the matter ofM/s. Shri Shyam Footwear v. the Commissioner of Central Goods and Services Tax and Anr. [W.P. (C). 5845 of 2022 dated January 31, 2023] has set aside the order of the Revenue Department rejecting the refun
Mere non-reply to SCN cannot be ground for cancellation of GST Registration
Bimal Jain 11 February 2023 at 09:33
The Hon'ble Allahabad High Court in Acambis Helpline Management (P.) Ltd. v. Union of India [Writ Tax No. 185 of 2022 dated December 15, 2022] has set aside the order cancelling the Goods and Services Tax ("GST") Registration of the assessee, passed
No TDS on reimbursements to directors and on traded goods supplied to client
Bimal Jain 11 February 2023 at 09:33
The ITAT, Mumbai in the matter of Techknowledgy Interactive Partners P. Ltd. v. ITO [ITA No. 350/MUM/2009 dated January 9, 2023] has held that no tax is required to be deducted at source on amount reimbursed to the director of the company. Further, w
Principles of estoppel do not apply to Income Tax proceedings
Bimal Jain 11 February 2023 at 09:33
The ITAT, New Delhi in the matter of Bipin Singh Rana v. ACIT [I.T.A. No. 15/DDN/2019 dated January 9, 2023] has held that, principles of estoppel do not apply to Income Tax proceedings and the Revenue Department must keep in mind that the correct in
The Hon’ble Madras High Court in the case of M/s. VGN Projects Estates Private Limited v. Assistant Commissioner (State Taxes) and others [W.P.No.2391 of 2023 and W.M.P.No.2481 of 2023, dated January 30, 2023] has directed the assessee to file a repl
GST @5% is leviable on all types of jaggery, pre-packaged and labelled
Bimal Jain 10 February 2023 at 14:03
The AAR, Karnataka in the matter of M/S Prakash and Company [Advance Ruling No. KAR ADRG 06/2023 dated January 23, 2023] ruled that all types of jaggery pre-packed and labelled are exigible to Goods and Services Tax ("GST") at 5% as per SI. No. 91A o
The Hon'ble Supreme Court of India in Basudev Mittal v. Union of India [Petition(s) for Special Leave to Appeal (Crl.) No(s). 8128 of 2022 dated December 12, 2022] has refused to interfere with the order passed by the Hon'ble Chhattisgarh High Court,
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