HC rejects bail application of petitioner accused of availing benefit of ITC without supply of goods and services

Case Details: Santosh Kumar Gupta … Continue reading “HC rejects bail application of petitioner accused of availing benefit of ITC without supply of goods and services”

CCI takes suo moto action against anti-competitive conduct of ‘Goa Taxi Union’ towards app-based Taxi aggregators

Topics covered in this article … Continue reading “CCI takes suo moto action against anti-competitive conduct of ‘Goa Taxi Union’ towards app-based Taxi aggregators”

Consultancy fees paid for studying & preparing a strategy to reduce cost of production is eligible for deduction: HC

Case details: CIT v. Telco Construction … Continue reading “Consultancy fees paid for studying & preparing a strategy to reduce cost of production is eligible for deduction: HC”

Amendment by the Finance Act 2012, to include HUF within the scope of Section 54B (relief) of the Income Tax Act, 1961 is clarificatory in nature: ITAT

Case details: Shri Sitaram Pahariya (HUF) … Continue reading “Amendment by the Finance Act 2012, to include HUF within the scope of Section 54B (relief) of the Income Tax Act, 1961 is clarificatory in nature: ITAT”

RBI Circular dated 6-4-2018 which directed banks and entities regulated by RBI to not to deal in Virtual Currencies (VC) or to provide banking services facilitating any person or entity dealing with or settling VCs, was quashed

Case details: Internet and Mobile Association … Continue reading “RBI Circular dated 6-4-2018 which directed banks and entities regulated by RBI to not to deal in Virtual Currencies (VC) or to provide banking services facilitating any person or entity dealing with or settling VCs, was quashed”

No additions towards excess premium if assessee valued shares at FMV computed in accordance with Rule 11UA of the Income Tax Rules, 1962: ITAT

Case details: Mantram Commodities (P.) … Continue reading “No additions towards excess premium if assessee valued shares at FMV computed in accordance with Rule 11UA of the Income Tax Rules, 1962: ITAT”