Bank sanctioning home loans couldn’t be considered as financial creditor as liability to repay loan is on Home Buyers

Case Details: Axis Bank Ltd. … Continue reading “Bank sanctioning home loans couldn’t be considered as financial creditor as liability to repay loan is on Home Buyers”

RBI issues operational instructions for ‘Credit Default Swap’ transactions; allows FPIs to buy/sell CDS protections

Circular No. 23 RBI/2021-22/155, Dated: … Continue reading “RBI issues operational instructions for ‘Credit Default Swap’ transactions; allows FPIs to buy/sell CDS protections”

Society is eligible for a basic exemption of Rs. 50000 on income not eligible for deduction under section 80P: ITAT

Case Details: Baroda Citizen Community … Continue reading “Society is eligible for a basic exemption of Rs. 50000 on income not eligible for deduction under section 80P: ITAT”

SC issued notice against SLP filed against ruling of HC justifying only 2% addition on huge sum deposited in Bank

Case Details: PCIT v. Shitalben … Continue reading “SC issued notice against SLP filed against ruling of HC justifying only 2% addition on huge sum deposited in Bank”

ITC not allowed if concessional rate of 5% opted for business of transportation of passengers as stage carriage: AAR

Case Details: Authority for Advance … Continue reading “ITC not allowed if concessional rate of 5% opted for business of transportation of passengers as stage carriage: AAR”