Objective Evaluation Criteria for Stock Exchanges Market Infra Institutions.: This circular outlines the parameters and framework for independent external evaluation of performance of Market… dlvr.it/TDdJMG #Governance #Compliance #InvestorEducation #FairAccess

University's tax exemption denied for non-compliance: Unaudited accounts, lack of info/evidence on expenses donations.: The assessee university's application for registration u/s 10(23C)(vi) was rejected… dlvr.it/TDdL1T #TaxExemption #UniversityFinances #AuditFailure

Investors apply for public debt issues up to Rs. 5L via UPI from Nov'24.: Individual investors applying through intermediaries for public issues of debt securities, non-convertible redeemable… dlvr.it/TDdL4F #PublicIssues #DebtSecurities #UPI #SEBI #InvestorProtection

TMI Updates - Newsletter dated: September 25, 2024 dlvr.it/TDdcg8 #DailyUpdates #Tax

Bankrupt firm's rejected resolution plan not entertained, court directs NCLT intervention.: Writ petition under Article 226 of the Constitution seeking initiation of fresh voting on… dlvr.it/TDfD2n #InsolvencyBankruptcyCode #ResolutionPlan #CommitteeOfCreditors

Tax appeal to be heard sans security deposit for poor litigants; Tribunal can't waive pre-deposit.: Constitutional validity of Section 33(5) of the Haryana Value Added Tax Act, 2003, regarding… dlvr.it/TDfD34 #TaxLaw #ConstitutionalRight #AccessToJustice #RemedyForAll

A government-owned company loses GST exemption on legal services due to insufficient equity stake.: The key points are: The applicant (THDCIL) does not qualify as a "Government Entity" under GST laws as… dlvr.it/TDfD3H #GST #TaxRuling #GovernmentEntity #EquityDilution

Dissolution of partnership firm: Tax notice quashed, petitioner granted chance to prove tax payments.: The Court quashed the show cause notice (SCN) issued to the petitioner in a tax… dlvr.it/TDfD3M #TaxLaw #PartnershipFirm #NoticeQuashed #FairHearing #CourtOrder

Customs rejects importer's declared value, enhances it based on email evidence partner's higher negotiated price admission.: Customs authority rejected transaction value declared by importer and… dlvr.it/TDfDhK #CustomsValuation #UnderValuation #EvidenceAdmissibility

Acetylene gas supply not covered u/r 55, requires tax invoice - High Court directs authorities to revisit penalties.: The High Court held that Rule 55 of the CGST Rules, 2017 applies… dlvr.it/TDfDj0 #GSTRules #TaxInvoice #AcetylenGas #HighCourt #LegalInterpretation

CBDT must refund delayed tax amount with interest; IT portal glitches can't deny statutory benefits.: The High Court held that after the Income Tax Appellate Tribunal's order, the tax… dlvr.it/TDfDj4 #TaxRefunds #IncomeTaxAct #ITReturns #TRACESPortal #LegalTussle

Income Tax - Limited Scrutiny Jurisdiction Exceeded, Unfair Addition of Capital Gains.: The case pertains to the scope of limited scrutiny by the assessing officer regarding computation… dlvr.it/TDfDjT #TaxLaw #Assessment #Jurisdiction #CBDTInstructions #AppealAllowed

Carnet misuse through repair misdeclaration - duties paid, no concealment, notification benefit denied.: Carnet violation through non-filing of Bill of Entry - misdeclaration and misuse… dlvr.it/TDfFXG #importViolation #customsDispute #dutyLiability #judicialReview

Firm denied tax deduction on compensation paid for properties it had no rights over.: The High Court held that the assessee firm was not entitled to claim deduction u/s 37(1) of the Income… dlvr.it/TDfFXk #TaxDeduction #PropertyRights #CompensationClaim #TribunalErred

Bank documents seizure challenged, court orders return for business operations. Attachment orders set aside pending liability determination.: Challenge to provisional attachment order… dlvr.it/TDfFXr #LegalDispute #BankingLaw #BusinessOperations #DocumentSeizure

Quashed unlawful tax audit orders against firm under insolvency resolution.: The court quashed orders related to audit and intimation liability issued against the petitioner company u/s 65 of the… dlvr.it/TDfFXz #TaxAudits #NCLTResolution #JurisdictionIssue #CGSTAct

Provisional attachment under PMLA upheld due to lack of evidence of legitimate income sources.: Appellants challenged the provisional attachment of their immovable and movable properties under… dlvr.it/TDfGC9 #LegalCase #MoneyLaundering #AssetAttachment #BurdenOfProof

Imported Polyester Bed Sheets Classified as 'Quilt Cover' - A CESTAT Ruling.: The Customs, Excise and Service Tax Appellate Tribunal (CESTAT) has ruled on the classification of imported… dlvr.it/TDfGCx #LegalPrecedent #CustomsLaw #GoodsClassification #TaxationIssues

Customs broker's clearance without physical verification of exporters upheld.: The High Court dismissed the revenue's appeal against the Tribunal's order, upholding the Tribunal's view that the… dlvr.it/TDfGD4 #LegalInterpretation #TradeRegulations #CustomsCompliance

Multiple officers assumed jurisdiction without valid transfer, leading to jurisdictional defect.: The jurisdictional Assessing Officer (AO) had suo moto transferred the assessment to… dlvr.it/TDfGD6 #TaxAssessment #JurisdictionalIssue #ITO #ITReturn #TribunalRuling