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[ITAT – Mumbai] Penalty Under S. 271(1)(c) of ITA for Income Concealment Deleted as the Assessee Had Explained Reasons for Advancing Interest-Free Loan to Its Associated Enterprises
ITAT Mumbai clears penalty for Air Works, affirming bona fide interest-free loans to AE.
May 9, 20243 min read
P & H High Court Rules Revision Petitions Maintainable Against Property Confiscation Orders Under PMLA
Punjab & Haryana High Court affirms revision rights under s. 8(7) of the PMLA, enabling challenges to property confiscation decisions.
May 9, 20243 min read
Payments Made to Non-Resident Entities Not Taxable in India as Royalty
ITAT rules interconnect charges are not royalties under the Income-tax Act, a key decision for non-resident firms.
May 9, 20243 min read
Foreign Tax Credit: A Comprehensive Overview
Explore how the Foreign Tax Credit prevents double taxation and stimulates economic growth globally. A must-read for global investors!
May 7, 202413 min read
Clarifying Eligibility: NCLAT’s Ruling on Wilful Defaulters in Resolution Proceedings
NCLAT clarifies eligibility of wilful defaulters in CIRP, balancing creditor rights and corporate revival amidst legal complexities.
May 7, 20242 min read
Calcutta High Court Affirms Appellate Authority’s Power to Condone Delay under WBGST Act
In a pivotal ruling, the Calcutta HC upheld the AA's authority to extend deadlines, affirming legal fairness and procedural flexibility.
May 6, 20243 min read
RBI Issues Draft Master Direction for Electronic Trading Platforms, 2024
RBI releases 2024 draft for Electronic Trading Platforms, enhancing transparency and efficiency. Comments invited by 31.05.2024.
May 6, 20243 min read
[Bombay High Court] Court Criticizes Public Sector Banks' Coercive Tactics, Limits Power to Issue Look Out Circulars for Loan Defaulters in Economic Offences
Bombay High Court rules against PSBs using LOCs to restrict travel for loan defaulters, upholding constitutional rights and fairness.
May 6, 20245 min read
Due Diligence in M&A: A Detailed Overview
Unlock M&A success with essential Due Diligence insights—safeguard investments and navigate risks effectively!
May 5, 20246 min read
Economic Crime and Corporate Transparency Act, 2023: A Comprehensive Analysis
Explore how ECCTA 2023 reshapes corporate crime liability in the UK, setting new standards for legal accountability.
May 5, 20249 min read
Orissa HC Determines S. 45 of PMLA Does Not Apply to S. 205 CrPC Applications
Orissa High Court rules that personal appearance exemptions under CrPC are valid in PMLA cases, easing the stringent conditions of s. 45
May 4, 20243 min read
Liability in Case of Improper Accounting of Goods Is to Be Calculated Under the Provisions of S. 74 of the GST Act
Explore how the Allahabad HC clarifies GST liabilities for mismanaged inventories under UGST Act's s. 74.
May 4, 20242 min read