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  • Supreme Court & High Court Weekly Roundup
  • July 15, 2024
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May 25, 2024
The National Company Law Tribunal ( NCLT ) sought the response from the Ministry of Corporate Affairs ( MCA ) on the issue concerning aircraft lessor moratorium exemption in the Insolvency and Bankruptcy Code, 2016 ( IBC ). The NCLT has sought MCA’s perspective regarding a plea filed by a lessor in the Go First […]
May 23, 2024
The next GST Council meeting is about to hear the plea by online gaming firms on the past tax demands. The Central Government issued notices amounting to Rupees one trillion to the online gaming firms last year. The Supreme Court highlighted that it would hear a batch of petitions challenging demand notices asking online gaming […]
May 23, 2024
The Bruhat Bengaluru Mahanagara Palike (BBMP) warned the defaulters against the dues from property tax and related cesses till May 18 at Rs 711.71 crore. The BBMP West zone, where Mantri Mall was shut down for the third time in six months, had 35,084 properties that owed Rs 103.26 crore. Rs 41 crore is the […]


  • ICAI - CA - ITR - ITR filing - ICAINEWS - ITR NEWS - Minimum Fee for ITR filing - Professional CA - taxscan
  • Know Minimum Fee Recommended by ICAI for filing ITR and Other Professional CA Services
  • July 11, 2024
  • The Institute of Chartered Accountants of India (ICAI) has recommended the Income Tax Returns Filing fee structure based on the nature of work. In this article, we examine the recommended fee by Institute of Chartered Accountants of India (ICAI) for Chartered Accountant (CA) services such as ITR filing.For instance, the fees are recommended as follows: […]
  • ITR - CA - Income Tax Returns - Chartered Accountant - ITR Filing - Filing ITR - Filing ITR for Free - taxscn
  • Should CA File ITR for Free? Income Tax without Income: An Analysis
  • July 10, 2024
  • In an age where financial literacy is becoming increasingly significant, Chartered Accountants ( CA ) have long been considered the backbone of financial guidance and tax compliance, including filing of Income Tax Returns ( ITR ). Their role in helping individuals and businesses navigate the complex web of tax laws is indispensable. We try to […]
  • Corporate Social Responsibility - CSR - Income tax - CSR expenses - CSR expenses deduction - taxscan
  • Can CSR Expenses Claimed for Deduction under Section 80G of Income Tax Act?
  • July 9, 2024
  • Under the Indian Income Tax Act, Corporate Social Responsibility ( CSR ) expenses are generally not allowed as a business deduction. This policy is rooted in Section 37(1) of the Income Tax Act, which disallows CSR expenses as they are not considered expenses incurred wholly and exclusively for the purpose of business or profession. Read […]
ITAT - ITAT Chennai - Consultancy Charges - Resident Director - Company Deduction Claim - Income Tax Appellate Tribunal - taxscan
July 15, 2024

The Chennai Bench of Income Tax Appellate Tribunal ( ITAT ) determined that the consultancy charges paid to a resident director by M/s Egberts India Private Limited were not “excessive or unreasonable.” Consequently, the tribunal allowed the company’s deduction claim for the payment made. The appellant, M/s Egberts India Private Limited, challenged the disallowance of...

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loans - noida - New Okhla Industrial Development Authority - delhi hc - delhi hc news - delhi high court - delhi high court news - income tax - income tax news - tax exemption - tax news - tax scan
July 15, 2024

The Delhi High Court has ruled that the loans and advances given by the New Okhla Industrial Development Authority (NOIDA) are not commercial activities and are therefore eligible for exemption under Section 10(46) of the Income Tax Act. NOIDA, established under the Uttar Pradesh Industrial Area Development Act, 1976, challenged the order by the Central...

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CESTAT - CESTAT Delhi - Service tax demand - service tax - Customs - Excise - Service Tax Appellate Tribunal - taxscan
July 12, 2024
The Delhi Bench of Customs, Excise, and Service Tax Appellate Tribunal (CESTAT) has quashed the service tax demand in respect of housekeeping services provided to UN agencies and educational institutions. Corporate Housekeeping Services (India) Private Limited, the assessee is in the activity of providing or supplying manpower and cleaning and housekeeping services to various domestic organizations and companies, United Nations organizations, and international organizations like WHO, ILO, UNESCO, FAO, SEZ units, etc. The assessee has been filing service tax returns
Tata Steel CENVAT Credit - CESTAT Judgment Tata Steel - Endorsed Bill of Entry CENVAT - Tata Steel Tax Credit Ruling- taxscan
July 15, 2024

The Customs, Excise and Service Tax Appellate Tribunal ( CESTAT ) Eastern Zonal Bench, Kolkata, has delivered a favourable judgment for Tata Steel Limited. The tribunal allowed the appeal of Tata Steel, permitting the company to avail CENVAT Credit based on endorsed bills of entry, marking a pivotal moment in the interpretation of the CENVAT...

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CESTAT - Weekly - Round - Up - customs - taxscan
July 14, 2024

This weekly round-up analytically summarizes the key stories of the Customs, Excise, and Service Tax Appellate Tribunal ( CESTAT ) reported at taxscan.in, from July 7, 2024 to July 12, 2024. Excess Paid Service Tax Can be Adjust Towards Subsequent Tax Liability: CESTAT GULMOHAR PARK MALL PVT LTD vs COMMISSIONER OF CENTRAL EXCISE AND SERVICE […]

  • MCA - Booklet - BE(A)WARE - Fraudulent Schemes - taxscan
  • MCA releases Booklet ‘BE(A)WARE’ on Measures to Overcome Fraudulent Schemes
  • November 16, 2022
  • The Ministry of Corporate Affairs ( MCA ) has released a booklet titled “BEWARE” for the public to overcome the fraudulent schemes. There has been a surge in usage of digital modes of payment in the recent years. This gained further momentum during the Covid-19 induced lockdowns. While enhancing customer convenience, it also furthered the […]
  • GST - Crypto - CBIC - Working - Framework - TAXSCAN
  • GST on Crypto: CBIC Working on Defining Legal Framework
  • November 14, 2022
  • In a significant move, the Central Board of Indirect Taxes and Customs (CBIC) is working on defining a legal framework for applying goods and services tax (GST) on crypto or virtual digital assets appears to be around the corner, with the working on an agenda paper on the topic. The board has been interacting with […]
  • Govt - Rupee settlement - Export - Promotion Schemes - taxscan
  • Govt allows Rupee Settlement in Export Promotion Schemes [Read Notification]
  • November 10, 2022
  • In a major relief to the exporters, the Ministry of Commerce and Industry has notified the change in the Foreign Trade Policy 2015-2022  comes after the Reserve Bank of India had, on 11th July 2022, issued guidelines for the settlement of international trade in Indian rupees. Following this, the central government has made changes to […]
NCLAT - NCLAT Delhi - IBC - Insolvency and Bankruptcy Code - Real Estate - National Company - TAXSCAN
July 14, 2024
The New Delhi bench of the National Company Law Appellate Tribunal (“ NCLAT ”) held that Financial Creditors who are Allottees under the Real Estate (Regulation and Development) Act, 2016 (“RERA”) are required to meet threshold criteria for filing a section 7 application under Insolvency and Bankruptcy Code, 2016 (“IBC”). Orris Infrastructures Pvt Ltd, the […]
NCLAT - NCLAT Delhi - National Company - Company Law - Appellate Tribunal - Corporate Guarantor - TAXSCAN
July 13, 2024
The Delhi bench of the National Company Law Appellate Tribunal ( NCLAT ) held that a Corporate Guarantor cannot be absolved from its liability only due to non-invocation of guarantee. Iskon Infra Engineering Private Limited, the Corporate Guarantor/Company initiated voluntary liquidation under Section 59 of the Insolvency and Bankruptcy Code, 2016 (“IBC”). On completion of […]
NCLAT - IBC - Insolvency and Bankruptcy - National Company Law Appellate Tribunal - Financial Creditors - taxscan
July 13, 2024
In a recent case, the Delhi bench of the National Company Law Appellate Tribunal ( NCLAT ) held that lending institutions providing loans to homebuyers do not qualify as ‘Financial Creditors’ under Insolvency and Bankruptcy, Code 2016 (‘IBC’). Two flat buyers availed a loan from India Infoline Housing Finance Limited ( IIFL ), the Appellant […]
SBI - NCLT - Loan Facility - Financial creditor - Mumbai bench - CD Recalling - Corporate Guarantor - State Bank of India - taxscan
July 7, 2024
The Mumbai bench of the National Company Law Tribunal ( NCLT ) held that notice issued by the State Bank of India ( SBI ) , the Financial creditor to Corporate Debtor recalling loan facility not amounts to Demand on Corporate Guarantor.The SBI extended various creditor facilities to Deogiri Infrastructure Private Limited (Principal Borrower). Navjeevan […]
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