![MSME certificate required to take benefit under Section 240A of IBC: NCLAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/04/MSME-certificate-Section-240A-of-IBC-NCLAT-Taxscan.jpg "MSME certificate required to take benefit under Section 240A of IBC: NCLAT [Read Order]")
MSME certificate required to take benefit under Section 240A of IBC: NCLAT [Read Order]
The National Company Law Appellate Tribunal ( NCLAT ) has ruled that the MSME certificate is required to take benefit of Micro Small and Medium...
![Bank’s Internal Policy mandatory for CA certified documentation for Loan Advances: RBI responds to RTI Application [Read RTI Reply]](https://www.taxscan.in/wp-content/uploads/2021/04/Banks-Internal-Policy-CA-certified-documentation-Loan-Advances-RBI-RTI-Application-Taxscan.jpeg "Bank’s Internal Policy mandatory for CA certified documentation for Loan Advances: RBI responds to RTI Application [Read RTI Reply]")
![GST: Supply of items such as Birthday Stickers, Candles, Birthday Caps, Snow Sprays doesn’t qualifies as Composite Supply, rules AAR [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/04/GST-Supply-Birthday-Stickers-Candles-Birthday-Caps-Snow-Sprays-Composite-Supply-AAR-Taxscan-opengraph.jpg "GST: Supply of items such as Birthday Stickers, Candles, Birthday Caps, Snow Sprays doesn’t qualifies as Composite Supply, rules AAR [Read Order]")
GST applicable on Reverse Charge basis on Amount Paid for Reimbursement of Stamp Tax as Pure Agent: AAR [Read Order]
The Gujarat Authority of Advance Ruling (AAR) ruled that the GST is applicable on a reverse charge basis on the amount paid for reimbursement of Stamp tax as a pure agent. The applicant, M/s....
![GST applicable on Reverse Charge basis on Amount Paid for Reimbursement of Stamp Tax as Pure Agent: AAR [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/04/GST-AAR-Pure-Agent-Stamp-Tax-Reverse-Charge-basis-Reimbursement-Taxscan.jpg "GST applicable on Reverse Charge basis on Amount Paid for Reimbursement of Stamp Tax as Pure Agent: AAR [Read Order]")
Interest of only refundable duty is admissible under Section 11BB and not of Penalty and fine: CESTAT [Read Order]
The Customs, Excises, Service Taxes Appellate Tribunal (CESTAT), Ahmedabad Bench held that the interest of only refundable duty is admissible under Section 11BB and not of penalty and fine. Mr....
![Interest of only refundable duty is admissible under Section 11BB and not of Penalty and fine: CESTAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/04/Interest-of-only-refundable-duty-Section-11BB-penalty-CESTAT-Taxscan.jpeg "Interest of only refundable duty is admissible under Section 11BB and not of Penalty and fine: CESTAT [Read Order]")
If Tax has not reached Govt, then the Liability may have to be borne by One Party, either the Seller or the Buyer: Madras HC [Read Judgment]
The Madras High Court held that if the tax had not reached the kitty of the Government, then the liability may have to be eventually borne by one party, either the seller or the buyer. The...
![If Tax has not reached Govt, then the Liability may have to be borne by One Party, either the Seller or the Buyer: Madras HC [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2021/04/tax-Government-liability-seller-buyer-Madras-High-Court-Taxscan.jpeg "If Tax has not reached Govt, then the Liability may have to be borne by One Party, either the Seller or the Buyer: Madras HC [Read Judgment]")
Customs Duty paid in Good faith shall be Refunded to victims of Fraud: Madras HC allows Partial Refund [Read Order]
The Madras High Court directed the Customs Department to refund the difference amount between the value of the goods imported and the customs duty under the relevant provisions of the law. The...
![Customs Duty paid in Good faith shall be Refunded to victims of Fraud: Madras HC allows Partial Refund [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/04/Customs-Duty-Good-faith-Refunded-Fraud-Madras-High-Court-Partial-Refund-Taxscan-1.jpg "Customs Duty paid in Good faith shall be Refunded to victims of Fraud: Madras HC allows Partial Refund [Read Order]")
Mere Transfer of Possession of Land to Developer under MoU not sufficient to prove ‘Sale’: ITAT Quashes Assessment solely based on TDS Statement [Read Order]
The Income Tax Appellate Tribunal (ITAT), Bangalore bench has recently quashed an assessment merely based on TDS Statement under Form 26AS where the developer paid the TDS amount to the Government...
![Mere Transfer of Possession of Land to Developer under MoU not sufficient to prove ‘Sale’: ITAT Quashes Assessment solely based on TDS Statement [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/04/Possession-of-Land-MoU-ITAT-TDS-Statement-Taxscan-1.jpg "Mere Transfer of Possession of Land to Developer under MoU not sufficient to prove ‘Sale’: ITAT Quashes Assessment solely based on TDS Statement [Read Order]")
Investment in Penny Stock can’t be a sole ground for Disallowance If Assessee’s Intention was not to make Gain out of Share Transactions: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Hyderabad bench has recently held that the income tax department cannot make disallowance merely on the ground that the assessee invested in penny stock in a...
![Investment in Penny Stock can’t be a sole ground for Disallowance If Assessee’s Intention was not to make Gain out of Share Transactions: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/04/Investment-in-Penny-Stock-Share-Transactions-ITAT-Taxscan.jpg "Investment in Penny Stock can’t be a sole ground for Disallowance If Assessee’s Intention was not to make Gain out of Share Transactions: ITAT [Read Order]")
SCNs be issued by DC or AC of concerned port of Import, pending further clarification: CBIC [Read Circular]
The Central Board of Indirect Taxes and Customs (CBIC) has written a letter to the Directorate of Revenue Intelligence (DRI) while issuing the advisory in respect of the recent Judgement of the Apex...
![SCNs be issued by DC or AC of concerned port of Import, pending further clarification: CBIC [Read Circular]](https://www.taxscan.in/wp-content/uploads/2021/04/SCNs-Deputy-Commissioner-Assistant-Commissioner-port-of-Import-CBIC-Taxscan.jpeg "SCNs be issued by DC or AC of concerned port of Import, pending further clarification: CBIC [Read Circular]")