• Excise & Customs
  • Duty to Oil contained in Bunker Tank not mentioned in order: CESTAT sets aside Non-Speaking Order of Commissioner [Read Order]
  • December 9, 2022
December 3, 2022
The Enforcement Directorate (ED) arrested Saumya Chaurasi, a Deputy Secretary in the Chhattisgarh Chief Minister Bhupesh Baghel’s Office in relation to the allegations in the Coal Extortion Case. She was summoned for questioning and was subsequently arrested. ED conducted various searches and made arrests under the provisions of Prevention of Money Laundering Act(PMLA), 2002 with […]
November 30, 2022
The Disciplinary Committee of the Insolvency and Bankruptcy Board of India (IBBI) comprising Whole Time Member Jayanti Prasad has imposed a fine of Rupees Two Lakhs on the Company Secretary Anuj Kumar Tiwari for the alleged non-cooperation with the Inspecting Authority (IA) and delay in filing Form CIRP 7. Regulation 40B (1A) provides that when […]
November 30, 2022
The Insolvency and Bankruptcy Board of India ( IBBI ) has issued a circular regarding the payment of credit fees by the Insolvency professionals (IPs) and Insolvency Professional Entities (IPEs) to the Board. As per a circular issued n Tuesday, the IBBI has stated that “the Board has recently amended its following regulations, vide which […]


  • FOREIGNERS - GOLD BANGLE - taxscan
  • Beware Foreigners!! Even a Gold Bangle can be a Threat to you
  • November 4, 2022
  • “Conflicts are aplenty in this world because of gold” – famous Malayalam poet Kunchan Nambiar satirically wrote. Madras High Court on Tuesday held that gold/silver ornaments that are worn in person and that exceed Rs. 50,000 in value have to be declared before the Customs Authority. Justice C Saravanan observed that import of jewellery worth […]
  • MSMEs - GROWTH ENGINE OF INDIA - taxscan
  • MSMEs – Growth Engine of India
  • October 1, 2022
  • INTRODUCTION The micro, Small, and Medium Enterprises (MSME) sector, is an industry that has become a game changer for the Indian economy. More than 42% of the employment opportunities as of today are generated by the MSME sector. This has opened up doors for the industrialization of rural & backward areas, and promoted regional development, […]
  • Bill of Entry - GSTR-2B - taxscan
  • Bill of Entry not reflected in GSTR-2B
  • September 20, 2022
  • Importers can claim IGST and cess paid on their imports only after issuing the bill of entry (BoE). Hence, taxpayers must access the bill of entry on the portal to avail input tax credit seamlessly. The GST Network (GSTN) provides a framework to taxpayers for finding the relevant bill of entry. At times Bill of […]
  • Adjudication Orders - Companies Act 2013 - taxscan
  • Synopsis of Adjudication Orders under the Companies Act, 2013
  • August 23, 2022
  • Role of Registrar of Companies The Registrars of Companies (ROC) are appointed under Section 609 of the Companies Act 2013, for each State/Union Territory. They have a primary duty of registering companies and LLPs floated in the respective states and the Union Territories and ensure that such companies and LLPs comply with statutory requirements under […]
ITAT - Mechanism - Tax Recovery - Tax - ARCs - Banks - Sale of Security Assets - Security Assets - Sale - Asset Re construction Companies - taxscan
December 9, 2022

The Income Tax Appellate Tribunal ( ITAT ), Mumbai Bench asked the Government to bring out Mechanism to ensure Tax Recovery from Asset Re construction Companies (ARCs)/Banks on sale of Security Assets. The assessee, Abbasbhai A. Upletawala was a director of M/s Abid Steels Co Ltd (ASCL) and the assessee had given his personal guarantee […]

DIN - CBDT - Revision Order - CBDT Circular - ITAT - taxscan
December 9, 2022

The Banglore Bench of the Income Tax Appellate Tribunal ( ITAT ) has recently held that non-mentioning of Document Identification Number (DIN) as per the instruction of the Central Board of Direct Taxes (CBDT) in Circular 19/2019 dated 14.08.2019 invalidates the revision order and consequently set aside the impugned order. The appellant-assessee, H K Suresh...

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No - Service - Tax - Leviable - on - Services - to - Members - by - Society - prior - to - 2012 - CESTAT - deletes - Penalty - TAXSCAN
December 3, 2022
The Mumbai Bench of Customs Excise and Service Tax Appellate Tribunal (CESTAT) held that service taxes are not leviable on the service provided by the society to its members prior to 2012 and deleted the penalty imposed on the appellant for delayed filing of tax return. In the instant case an appeal was filed by Prabhadevi Himgiri CHSL, a Co-operative Housing Society before Customs Excise and Service Tax Appellate Tribunal (CESTAT) challenging the order of the Commissioner of appeals on
Duty - to - Oil - contained - in - Bunker - Tank - order - CESTAT - sets - aside - Non - Speaking - Order - of - Commissioner - TAXSCAN
December 9, 2022

In a recent case, the department in its order failed to mention the duty to oil contained in the Bunker Tank,the Ahmedabad Bench of the Customs, Excise & Service Tax Appellate Tribunal (CESTAT)set aside non-speaking order of the Commissioner. M/s. Navyug Ship Breaking Co., the Appellant imported Vessel for breaking up. CTH 8908 00 00 […]

Refund - DEPB Scrip - Absence of Evidence - CESTAT - taxscan
December 9, 2022

The Mumbai Bench of the Customs, Excise & Service Tax Appellate Tribunal (CESTAT) has held that the rejection of refund of the amount paid through DEPB scrip is not valid in absence of evidence. Shri Anjali Hirawat Advocate appeared for the Appellant and Shri Ram Kumar Authorised Representative appeared for the Respondent. Virgo Suitings Pvt...

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CESTAT - confirms - Confiscation - of - Low - Sulphur - Waxy - Residue - being - Hazardous - Waste - TAXSCAN
December 9, 2022

The New Delhi Bench of the Customs, Excise and Service Tax Appellate Tribunal (CESTAT), confirmed confiscation of Low Sulphur Waxy Residue being hazardous waste. The appellant, M/s Ayyan Energy Resources (P) Ltd imported good described as “Low Sulphur Waxy Residue (fuel oil)” in three containers from Bahrain which, on examination and testing was found to […]

Demand - Bribe - Telangana High Court - Acquittal of Excise Officer - Excise Officer - Excise - Taxscan
December 8, 2022

The Telangana High Court has confirmed the acquittal of the Excise Officer as the demand of bribe was not proved beyond reasonable doubt. In the instant case an appeal was filed under section 378 (3) & (1) of the Code of Criminal Procedure (Cr.P.C) 1973 against the order passed by the First Additional Special Judge […]

  • 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 […]
chennai-port-trust-taxscan
December 7, 2020

A two-judge bench of the Madras High Court has denied the benefit of exemption of urban land tax to Chennai Port Trust under the provisions of the Tamil Nadu Urban Land Tax Act of 1996. While considering an appeal filed by the State, Chief Justice Amreshwar Pratap Sahi and Justice Senthilkumar Ramamoorthy ruled that the […]

No plan - impose Property Tax - Union Territory of J&K - LG Manoj Sinha - opposition - Taxscan
October 20, 2020

The Lieutenant Governor (LG) of Jammu and Kashmir, Manoj Sinha while Putting speculations to rest said that the Union Territory administration would not levy any property tax on the people in Jammu and Kashmir. Earlier this month, the Union home ministry had empowered the union territory’s administration to impose the property tax following an amendment […]

UAE Tax Authority - UAE- Tax Registrants - Penalties re-determined - violating Tax Laws - Taxscan
January 25, 2022
The UAE Tax Authority has extended the grace period for UAE’s tax registrants to get their penalties re-determined for violating tax laws until December 2022. The earlier deadline for re-determination was December 31, 2021. The Federal Tax Authority (FTA) clarified that tax registrants who had not met the necessary conditions to benefit from the administrative […]
Banks - Cash Withdrawal from ATM - RBI - Taxscan
June 11, 2021
The Reserve Bank of India (RBI) has allowed the banks to hike the fee charged on cash withdrawal beyond the permitted free Automated Teller Machine (ATM) transaction limit from Rs 20 to Rs 21 per transaction, with effect from January 1, 2022. The Regulatory Bank had constituted a Committee in June 2019 under the Chairmanship […]
OECD - report - Inheritance Taxation - OECD Countries - Taxscan
May 18, 2021
The Organisation for Economic Co-operation and Development (OECD) has released the report on Inheritance Taxation in OECD Countries. The purpose of the report is to Compare and assess inheritance, estate and gift taxes across OECD countries and Explore the role that these taxes could play in raising revenue, addressing inequalities and improving the efficiency of […]



NCLAT - condones delay - Filing of Appeal - taxscan
December 7, 2022
The National Company Law Appellate Tribunal (NCLAT), Chennai Bench, comprising of Justice M. Venugopal, Judicial Member and Naresh Salecha, Technical Member condoned delay of 147 days on late filing of appeal due to bonafide litigious activity. The Bench while adjudicating an appeal filed in M.K. Resely & Ors. v Union Bank of India, has condoned […]
Consent of Secured Creditors - Amalgamation - Transferor - Net Worth of Transferor - Transferee - NCLAT - taxscan
December 7, 2022
The New Delhi Bench of the National Company Law Appellate Tribunal (NCLAT), ruled that No requirement of consent of secured creditors for Amalgamation when Net Worth of transferor and transferee is highly positive. The appellant in the present appeal is Lasa Supergenerics Limited. Harishree Aromatics and Chemicals Private Limited (Transferor Company) and Lasa Supergenerics Limited […]
SEBI - Launch Settlement Scheme - Stock Brokers - Brokers - taxscan
December 7, 2022
The Securities and Exchange Board of India ( SEBI ) has decided to introduce a Settlement Scheme for 150 Stock Brokers, 2022 for Stock Brokers against whom enforcement proceedings have been approved/initiated and are pending for executing trades in Illiquid Stock Options at BSE. Such entities may avail the Scheme 2022 as per its terms […]
Gujarat High Court - Notice - IBBI - appeal - IRP - Disciplinary Proceedings - taxscan
December 3, 2022
The Gujarat High Court has recently taken up the matter of disciplinary proceedings against Chartered Accountant Sunil Kumar Agarwal (Read Story) and issued notice to the Insolvency and Bankruptcy Board of India (IBBI). Mr. Sunil Kumar Agarwal was an Insolvency Professional (IP) registered with the Insolvency and Bankruptcy Board of India  (IBBI). He was appointed […]
NCLAT - Notice - NCLAT issues Notice - GoIbibo - Penalty - CCI - OYO - taxscan
December 3, 2022
The Principal Bench of the National Company Law Appellate Tribunal (NCLAT) recently admitted the appeal of Oravel Stays Limited ( OYO ) against the imposition of penalty by the Competition Commission of India (CCI). Notices were subsequently issued to MakeMyTrip India Pvt. Ltd. and Ibibo Group Private Limited (GoIbibo) Mukul Rohatgi, Mr. Raj Shekhar Rao, […]
materials - Which - Show - Reassessment - Proceedings - as - Arbitrary - Writ - Jurisdiction - Delhi - HC - TAXSCAN
December 2, 2022
The Delhi Bench High Court (HC)has held that the writ jurisdiction of the court cannot be invoked when there are no materials which show reassessment proceedings as arbitrary. Mr. Ajay Gupta, who is the Karta of the Petitioner’s Hindu Undivided Family (‘HUF’) filed the writ petition seeking the quashing of the order dated 18th July, […]
Reappointment - Vested - Right - Gujarat - HC - Expedition - of - Appointment - of - Judicial - Member - of - NCLT - TAXSCAN
December 1, 2022
A Division Bench of the Gujarat HC has recently denied to compel the expeditious appointment of Manorama Kumari as the Judicial Member pursuant to the willingness shown in being reappointed at the National Company Law Tribunal (NCLT). The petitioner was appointed as a judicial member of the National Company Law Tribunal on 01.06.2016 in terms […]
Misconduct - IBBI - IBBI Imposes Penalty- Penalty - CS - IP - IA - Delay in filing Form CIRP 7 - Form CIRP 7 - taxscan
November 30, 2022
The Disciplinary Committee of the Insolvency and Bankruptcy Board of India (IBBI) comprising Whole Time Member Jayanti Prasad has imposed a fine of Rupees Two Lakhs on the Company Secretary Anuj Kumar Tiwari for the alleged non-cooperation with the Inspecting Authority (IA) and delay in filing Form CIRP 7. Regulation 40B (1A) provides that when […]
ICAI - CA - Probation on CA - Tax Audit - taxscan
December 9, 2022

The Disciplinary Committee (DC) of Institute of Chartered Accountants of India (ICAI) recently imposed a penalty of Rs. Five Lakhs along with 3 months of probation period on Chartered Accountant Rajender Kumar for alleged conduct of tax audit Section 44AB of the Income Tax Act, 1961 beyond the limit prescribed by the Institute, amounting to […]

Delhi High Court - PMLA - Taxscan
December 7, 2022
The Delhi High Court dismissed former Aam Adami Party (AAP) leader Tahir Hussain’s plea in challenging the framing of money laundering charges under Prevention of Money Laundering Act, 2002(PMLA) against him by a trial court in Delhi. Advocate Naveen Malhotra appeared on behalf of the petitioner,Tahir Hussainand Zoheb Hossain appeared on behalf of the Enforcement […]
E-KYC Setu - KYC - Financial Transactions - Prevent Money Laundering - Money Laundering - taxscan
December 7, 2022
The Ministry of Finance has notified the “e-KYC setu” with an aim to prevent money laundering activities. A notification issued on Wednesday stated that the entities onboarded to perform authentication under the Aadhaar Act, 2016 for the purposes of section 11A of the Prevention of Money-laundering Act, 2002 using the e-KYC setu system be permitted […]
GST - Job work - Industries - taxscan academy
December 5, 2022

Faculty – CA Sunil P Jain 📆 Nov 20, Sunday🕔5.00 PM – 7.00 PM What will be covered in the course ✅GST Rates on the Sector✅Place of Supply and ITC-Related Provision to the Sector (if any)✅Exemptions to the said Sector✅Important Judgement if any✅Open-ended Issue in the sector✅Q&A Session Course Fees 1000/-(Including GST)800/- (Including GST) For […]

Live Sector Wise Analysis Under GST- Taxscan
December 5, 2022

15 SECTORS IN 18 WEEKS Faculty – Eminent speakers from the specific sector 📆5 Nov – 25 Dec⏰5.00 PM – 7.00 PM(Saturday & Sunday) Weekend BatchDuration – 30 Hours Course Fee 👉 Full Course ₹ 10000/– ₹ 8000/-(Including GST) 👉 Individual Sector ₹ 1000/- ₹ 800/-(Including GST) What Will Be Covered in the Course? ✅GST […]

Fox Mandal - International Tax Practice - Taxscan
September 9, 2020
Fox Mandal & Associates has appointed Mr. Sandip Mukherjee as Director, International Tax Practice. Sandip would operate from the Pune office and lead the international tax practice of the firm in Southern & Western India. His addition is a part of the firm’s strategic expansion of its Tax Advisory vertical. Sandip has spent about 27+ […]
November 9, 2017
The DMD Advocates has advised Infradigital Technologies Private Limited, a company promoted by Eros Labs Pte. Ltd. in selling its business undertaking engaged in the business of production and distribution of spiritual, devotional and religious audio-visual content and literature to Innertech Media Solutions Private Limited. Innertech is a portfolio company of Times Internet Limited. The business division was transferred […]
Live Sector Wise Analysis Under GST Multi-Function Computer Cleaning Tools Kit Finfluencer Stainless Steel Bottle with Touch Screen LED Temperature Display Top 10 GST News of September Debunking Myths around GST Top 10 Income Tax News of this Week SIGNIFICANT WOMEN FRIENDLY RULES TOP 10 INCOME TAX LAWS OF THIS WEEK Top 10 GST News of Last Week 6 Benefits of New Income Tax E-Filing Portal