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Highlights Highlights, Income Tax, GST, Import Eport and Corporate Laws

Shareholding Transfer Permitted Among Relatives for Unlisted Intermediaries; SEBI Nod Needed for Partnership Firms' Control Change.
December 28, 2024   Circulars     SEBI

Effective Date of SEBI's Withdrawal of Recognition for Indian Commodity Exchange as a Stock Exchange.
December 28, 2024   Notifications     SEBI

Imports of Digital Offset Printing Plates from China, Japan, Korea, Vietnam & Taiwan Face Anti-Dumping Duty for 5 Years.
December 28, 2024   Notifications     Customs

A Win for the Taxpayer: Court Quashes Tax Department's Arbitrary Assessment, Orders Fresh Examination.
December 28, 2024   Case Laws     Income Tax

Charitable Trust Exemption Upheld: No Undue Benefits Given to Related Party.
December 28, 2024   Case Laws     Income Tax

Tax authorities can't rely solely on loose papers found during searches to make additions without solid proof.
December 28, 2024   Case Laws     Income Tax

Tax Tribunal Upholds Telecom Company's Claims: Depreciation on Assets, Business Expenses, and Energy Savings Allowed.
December 28, 2024   Case Laws     Income Tax

New income tax showdown: when tax authorities can ditch your books and make rough calculations.
December 28, 2024   Case Laws     Income Tax

Taxpayer Wins Appeal Over Unfounded Reassessment and Addition for Penny Stock Trades.
December 28, 2024   Case Laws     Income Tax

Income from Lorries Accepted on Presumptive Basis, No Books Required; Agricultural Income and Past Savings Upheld.
December 28, 2024   Case Laws     Income Tax

High Court Quashes Preventive Detention for Gold Smuggling Due to Procedural Lapses, Lack of Proper Justification.
December 28, 2024   Case Laws     Customs

Customs Officials Sold Confiscated Gold Despite Court Order, Ordered to Pay Market Price if Petitioner Wins Appeal.
December 28, 2024   Case Laws     Customs

Customs authorities have discretion to not penalize for false declarations if made outside Customs proceedings.
December 28, 2024   Case Laws     Customs

Customs Penalties Overturned Due to Lack of Evidence in Import Misdeclaration Case.
December 28, 2024   Case Laws     Customs

Customs Overvaluation of 'Induction Cookers' Imports Overturned by Tribunal.
December 28, 2024   Case Laws     Customs

Software Firm Fined for Overpaying Royalties to Foreign Partners, Breaching Currency Rules.
December 28, 2024   Case Laws     FEMA

Court Strikes Down Seizure of Pre-Crime Assets, Affirms Rights Against Unjust Asset Freezes.
December 28, 2024   Case Laws     Money Laundering

Tax demands overturned due to lack of evidence for willful suppression of facts.
December 28, 2024   Case Laws     Service Tax

Tiles Duty Evasion Case Crumbles Due to Lack of Cross-Examination & Flimsy Evidence Hashtags.
December 28, 2024   Case Laws     Central Excise

High Court Allows Filing GST Appeal Without Pre-Deposit, Question of Exemption/Waiver Pending.
December 28, 2024   Case Laws     GST

Petitioner's right to natural justice upheld, impugned order quashed for lack of Show Cause Notice opportunity.
December 28, 2024   Case Laws     GST

Businesses Allowed to Correct GST Returns, Claim Rightful Input Tax Credits for 2018-19 After Court Intervention.
December 28, 2024   Case Laws     GST

Statutory Interest Must Be Paid on Delayed GST Refunds Despite Initial Rejection, High Court Rules.
December 28, 2024   Case Laws     GST

Unfair GST cancellation upheld by tax authorities despite business premise verification.
December 28, 2024   Case Laws     GST

Provisional GST Attachment Orders Overturned: Authorities Violated Natural Justice by Denying Oral Hearing Despite Request.
December 28, 2024   Case Laws     GST

More Highlights

Articles Articles, Tax Laws, GST

Short Notes Short Notes

Pre-deposit: Upholding Principles of Natural Justice in CGST Appeals
Dismissal of GST Appeal on Procedural Grounds Quashed: Where the appeal was not signed by the Authorized Person
Quashing Show-Cause Notice Due to Unexplained Delay: Upholding Fair Adjudication
Disallowance u/s 14A: Navigating the Interplay of Exempt Income and Expenditure
Reasonableness Test for Attaching Non-Proceeds of Crime: Limits on Attaching Pre-existing Property under PMLA
Taxation of International Consulting Services: Navigating the Complexities
Customs Seizure and the Doctrine of "Reasons to Believe": Clarity or Ambiguity
Examining the Eligibility of Credit Co-operative Societies for Deduction on Interest from Co-operative Bank Deposits
Upholding Arbitral Autonomy: Supreme Court Clarifies Scope of Judicial Interference u/s 11
Draft Assessment Order Regime: Navigating the Multi-tiered Assessment Process and Distinct Nature of Section 144C Assessments
Judicial Scrutiny of Section 14A Amendment: Retrospective or Prospective Effect?
Tax on Royalties: Navigating the Interplay between Domestic Tax Laws and Double Taxation Avoidance Agreements
Iron Ore Exports and Refund: Assessing 'Fe' Content on WMT Basis for Duty Calculation
Ensuring Procedural Fairness: The Importance of Proper Service of SCN in Tax Assessments
Decoding the Interplay of Customs Duty, Interest, and Confiscation Proceedings
Validity of Assessment u/s 153C: Reckoning the Limitation Period
Interpreting 'Initiation' of Penalty Action u/s 275(1)(c): Period of Limitation
Faceless Assessment: Decoding the Exemptions for International Tax Charges
Interpreting Rule 86A: Safeguarding Taxpayers' Rights in ITC Blocking
Writ Jurisdiction Not a Shortcut to Bypass Tax Adjudication Process, Rules Court: Judicial Discipline to be followed
Decoding the Interplay of Sections 153A and 153C in Search Assessments: Limitation and Reassessment Dynamics
Customs Valuation and Classification: Upholding Due Process and Objective Assessment
Income Tax Case Transfers: Place of Business vs. Registered Office: Determining the Appropriate Jurisdiction for Income Tax Assessments
Validity of Writ Petitions and Section 153C Proceedings: Examining the High Court Judgment
Interpreting Time Limits for 80G Registration for Charitable Institutions: Avoiding Absurdity in the Law

More Notes

Notifications Notifications

Cus

- Exemption for imports of Yellow Peas [HS 0713 10 10] from applicable BCD and AIDC - Seeks to amend Notification No. 64/2023-Customs, dated the 7th December, 2023
December 26, 2024

FTP

- Imposition of Quantitative Restriction on import of Low Ash Metallurgical Coke under Chapter 27 of ITC (HS) 2022, Schedule - I (Import Policy)
December 26, 2024

ADD

- Seeks to impose definitive Anti-Dumping Duty on import of “Digital Offset Printing Plates” originating in or exported from China PR, Japan, Korea RP, Vietnam, and Taiwan
December 26, 2024

SEBI

- SEBI permitted the exit of the Indian Commodity Exchange Limited as a stock exchange and the consequent withdrawal of recognition granted to it
December 24, 2024

Cus (NT)

- Appointment of Common Adjudicating Authority for the purpose of finalization of Provisional Assessment in SVB case w.r.t. M/s HD Hyundai Construction Equipment India Pvt. Ltd.
December 24, 2024

FTP

- Extension in Import Period for Yellow Peas under ITC(HS) Code 07131010 of Chapter 07 of ITC (HS) 2022, Schedule -I (Import Policy)
December 24, 2024

ADD

- Seeks to impose ADD on Telescopic Channel Drawer Slider from China PR for 5 years, pursuant to final findings of DGTR
December 18, 2024

IT

- Deduction of tax at source - no deduction in certain cases - Specified payment under section 197A (1F) - if payment is made to Credit Guarantee Fund Trust for Micro and Small Enterprises as referred to in clause (46B) of section 10 of income tax, 1961
December 18, 2024

SEBI

- Securities and Exchange Board of India (Mutual Funds) (Third Amendment) Regulations, 2024.
December 16, 2024

SEBI

- Securities and Exchange Board of India (Research Analysts) (Third Amendment) Regulations, 2024.
December 16, 2024

SEBI

- Securities and Exchange Board of India (Investment Advisers) (Second Amendment) Regulations, 2024
December 16, 2024

Cus (NT)

- Notification to specify the manufacturing processes and other operations in relation to a class of goods in a warehouse.
December 16, 2024

Cus (NT)

- Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver
December 13, 2024

CGST

- Seeks to appoint common adjudicating authority for Show cause notices issued by officers of DGGI
December 13, 2024

SEBI

- Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) (Third Amendment) Regulations, 2024
December 12, 2024

More Notifications

Circulars/ Public Notices Circulars/ Public Notices

SEBI

- Prior approval for change in control: Transfer of shareholdings among immediate relatives and transmission of shareholdings and their effect on change in control
December 27, 2024

DGFT

- Enlistment of PSIAs and Addition of area of operation of PSIAs in terms of Para 2.52 (c) of HBP 2023 in Appendix-2G
December 27, 2024

DGFT

- Import of Menthol under Advance Authorisation/DFIA
December 24, 2024

Customs

- Enabling Voluntary Payment electronically on ICEGATE e-Payment Platform
December 23, 2024

DGFT

- Rescheduling of Launch Date for Preferential eCoO 2.0 System
December 20, 2024

SEBI

- Simplification of Offer Document
December 20, 2024

SEBI

- Policy for Sharing Data for the Purpose of Research / Analysis
December 20, 2024

SEBI

- Industry Standards on Reporting of BRSR Core
December 20, 2024

SEBI

- Measures to address regulatory arbitrage with respect to Offshore Derivative Instruments (ODIs) and FPIs with segregated portfolios vis-à-vis FPIs
December 17, 2024

DGFT

- Fixation of one new Standard Input Output Norms (SIONs) at SION A-3683 under 'Chemical and Allied Product' (Product Code 'A').
December 17, 2024

Income Tax

- Guidance Note 2/2024 on provisions of the Direct Tax Vivad se Vishwas Scheme, 2024
December 16, 2024

SEBI

- Classification of Corporate Debt Market Development Fund (CDMDF) as Category I Alternative Investment Fund
December 13, 2024

SEBI

- Relaxation from the ISIN restriction limit for issuers desirous of listing originally unlisted ISINs (outstanding as on December 31, 2023)
December 13, 2024

SEBI

- Pro-rata and pari-passu rights of investors of AIFs
December 13, 2024

DGFT

- EPCG Scheme - Applicability of amendment to Para 5.10(c) of Hand Book of Procedures 2015-20 (Mid-Term Review)
December 13, 2024

More Circulars

News News, PIB

Household Consumption Expenditure Survey: 2023-24
December 28, 2024


DPIIT signs MoU with private company ‘boat’ to help startups
December 28, 2024


Ministry of Finance Year Ender 2024: Department of Expenditure
December 27, 2024


Dr. Sandip Shah Appointed as the Chairperson of NABL-QCI
December 27, 2024


Dr. Arunish Chawla took charge as Secretary, Department of Revenue, Ministry of Finance
December 27, 2024


Release of Publication “Payroll Reporting in India : An Employment Perspective –October, 2024”
December 26, 2024


Ministry of Finance Year Ender 2024: Department of Financial Services
December 26, 2024


2024 Year End Review for Department of Commerce
December 26, 2024


Year-end review 2024: Ministry of Statistics and Programme Implementation (MoSPI) during 2024
December 26, 2024


Ministry of Finance Year Ender 2024: Department of Revenue
December 26, 2024


Annual Survey of Unincorporated Sector Enterprises (ASUSE)Results for 2023-24 (Reference & Survey period: October 2023 to September 2024)
December 24, 2024


Inauguration of Advance Calibration Laboratory and 500 kWp Solar Rooftop at National Council for Cement and Building Materials, Ballabgarh
December 24, 2024


Auction for Sale (issue/re-issue) of (i) ‘New GS 2031’, (ii) ‘6.92% GS 2039’ and (iii) ‘7.09% GS 2054’
December 24, 2024


Government of India and Asian Development Bank sign $500 million loan to support sustainable infrastructure projects aligned with the India’s climate commitments
December 24, 2024


Advisory for Entry of Receipt Numbers Pertaining to Leased Wagons in the E-Way Bill System
December 24, 2024


More News

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Jiva Seva is Shiva Seva:
Service to humanity is Service to God

May I be born again and again, and suffer thousands of miseries so that I may worship the only God that exists, the only God I believe in, the sum total of all souls—and above all, my God the wicked, my God the miserable, my God the poor of all races, of all species, is the special object of my worship.

- Swami Vivekananda, CW, 5:137

 

 

 

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