SC on Refund of Excess Amount of Sales Tax on Price Variation

February 26, 2018 Case name: M/s. Universal Cylinders Limited v. The Commercial Taxes Officer Date of Judgment: February 23, 2018 In the instant case, the Supreme Court has opined that an Assessee shall be entitled to refund of excess amount of sale tax paid in the event the price of the item gets reduced later. In the case, the Appellants were manufactures More...

by Shilpi Sharan | Published 4 weeks ago
By Shilpi Sharan On Friday, February 9th, 2018

Supreme Court on Limitation Period for Appeal from NCLAT

February 09, 2018 Case name: Bengal Chemists & Druggists Association v. Kalyan Chowdhury Date of Judgment: February 02, 2018 In the instant case, the appeal was preferred against National Company Law Appellate More...

By Shilpi Sharan On Monday, February 5th, 2018

SC: Rule 8D of Income Tax Rules has Prospective Operation

February 05, 2018 Commissioner of Income Tax 5 Mumbai v. M/s Essar Tele holdings Ltd. Date of Judgment: January 31, 2018 In this recent, the Two –Judge Bench of Supreme Court took up a batch of petitions More...

By Shilpi Sharan On Friday, December 22nd, 2017

Time Limit to Furnish Return by NRI Extended to January 31

December 22, 2017 The Ministry of Finance, Department of Revenue yesterday issued a notification stating that the time limit for furnishing return by a non-resident taxable person in FORM GSTR-5 has been extended More...

By Shilpi Sharan On Saturday, December 9th, 2017

Income Tax Officer Suspended For Demanding Bribe from Taxpayer

December 09, 2017 The Commissioner of Income Tax, CBDT (Central Board of Direct Taxes) notified yesterday in a press release  issued by it, that the Income Tax Department has suspended an Income Tax Officer against More...

By Shilpi Sharan On Friday, December 8th, 2017

Deadline for linking Aadhaar with PAN Extended to March 31

  December 08, 2017 The CBDT (Central Board of Direct Taxes) has today notified that the deadline to link Aadhaar number with PAN (Permanent Account Number) has been further extended from December 31, 2017 More...

By Shilpi Sharan On Thursday, November 23rd, 2017

Panel set up to Overhaul Income Tax Law

November 23, 2017 The Centre has set up a Panel to formulate a draft direct Tax after reviewing the Income Tax Act, 1961. The proposed law is expected to consolidate the existing laws into one single legislation. More...

By Shilpi Sharan On Saturday, November 18th, 2017

National Anti-Profiteering Authority under GST

November 18, 2017 The Cabinet chaired by the Prime Minister Narendra Modi yesterday has given a green signal for the creation of the posts of Chairman and Technical Members of the National Anti-profiteering Authority More...

By Shilpi Sharan On Thursday, November 9th, 2017

Setting Aside of Arbitration Award on the Grounds of Public Policy

November 09, 2017 Section 34 of the Arbitration Act, 1996 provides for filing application to set aside an Arbitral Award by the Court. Section 34 enumerates the grounds on which an arbitral award may be set aside More...

By Shilpi Sharan On Wednesday, November 8th, 2017

IBBI Strengthens its Due Diligence Framework under the Code

November 08, 2017 The Insolvency and Bankruptcy Board of India (IBBI) yesterday has effected amendments to the IBBI (Insolvency Resolution Process for Corporate Persons) Resolution Process, 2016 to impose a greater More...