The Supreme Court in the M/s Sansera Engineering Limited[1] has concluded the long outstanding issue of distinction between the refund and rebate under the erstwhile indirect taxation laws. The assessee tried to distinguish rebate from refund, since there was no specific time limit mentioned for rebate. Before dealing with the
Summary of Misc Judgments
Supreme Court in Pawan Kumar Goel[1] – No Vicarious Liability on Director of Company in Cheque Bounce issue, if the Company is not arraigned as accused: The Supreme Court in the case of Pawan Kumar Goel has reiterated that the director of a company is not vicarious labile, if the
Summary of IT Decisions
Chennai ITAT in P Srinivasan vs ITO[1] – Receipt of Gift from Uncle’s son and daughter-in-law to the assessee can be said to be constructive gift from Uncle and accordingly not taxable in light of Section 56(2)(vii) in the hands of assessee: An interesting issue has come up for consideration
Summary of GST Decisions
Calcutta High Court in Green Fizz Beverages Private Limited[1] – Condoned Delay of a period of 3.5 years in Filing of Writ Petition against the order of State Commissioner (Appeals): The Calcutta High Court was dealing with an inter-court appeal. The Single Judge has rejected the writ petition filed by
Transfer Price Adjustment – Primary and Secondary Adjustment
Introduction: Transfer price provisions have been incorporated into tax laws by various countries in order to reduce tax avoidance by artificial shifting of profits from high tax jurisdiction to low/nil tax jurisdiction. Under these provisions, when an entity enters into any transaction with its AE[1], the tax authorities of such
GST Implications on Incomes earned by YouTuber Creators
YouTube is undoubtedly the TV for the millennials. I was recently at a family gathering and was talking to the NexGen kids about what they want to become when they grow up. To my surprise, one of them said, he want to become a YouTube creator. I said, that is
Does NCLT has Right to Recall Orders – A Study on Inherent Powers of NCLT under IBC Laws
An interesting question has arisen before the National Company Law Appellate Tribunal (for brevity ‘NCLAT’) in the matter of Printland Digital (India) Private Limited vs Nirmal Trading Company[1]. The question involves the rights of the adjudicating authority, that is National Company Law Tribunal (for brevity ‘NCLT’). The facts before Hon’ble
Summary of DT Decisions
Jaipur Tribunal in the case of Prakash Chandra Mishra[1] – No Equalization levy is deductible when the person running the advertisement (ad), the target audience and the person displaying the ad are all located outside India: The Jaipur Tribunal has held that the assessee is not liable to deduct equalization
Summary of GST Decisions
Delhi High Court in Seema Gupta vs. Union of India & Ors[1] – Renting of Residential Dwelling under reverse charge is challenged especially when the renting is not taken in business account: An interesting issue has come up before the Honorable Delhi High Court in the above matter. Seema Gupta,
Corporate Social Resposibility (CSR) Implementation Taken Seriously
All are aware that the concept of Corporate Social Responsibility (CSR) was introduced by the Companies Act, 2013 (Act) with effect from 01.04.2014, not a mandatory provision, but over the years, the provisions have been made mandatory and the implementation taken seriously. The amendment to the CSR Rules made vide