The Allahabad High Court ruled that the principle of res judicata does not apply across different assessment years in tax matters. However, it held that the tax department cannot change its stance for the same assessee across different assessment years without a marked change in
Table of Contents Supreme Court Declares Electoral Bond Scheme UnconstitutionalKey Rulings:Emphasis on Rights:Judicial Pronouncement:Overview of Electoral Bonds:Government’s Position and Controversy: Supreme Court Declares Electoral Bond Scheme Unconstitutional On February 15, the Supreme Court delivered its verdict on a series of petitions challenging the validity of
Introduction: The Directorate General of Foreign Trade (DGFT) issued Public Notice No. 43/2023 on February 14, 2024, introducing significant amendments to the Handbook of Procedures, 2023. These changes aim to facilitate the import of metallic waste and scrap by expanding the designated sea ports and
In 2024, an aspiring business should look to identify the ongoing market trends and capitalize on them. This is the best way to keep your business growing and achieve your aspirations. Currently, the most popular trend in content marketing is the use of AI tools
Introduction: In the realm of contract law, the traditional understanding has often been that agreements are formalized through written documents, signed and sealed by the involved parties. However, a notable principle has emerged from various Supreme Court rulings, shedding light on an alternative avenue through
The Supreme Court, on February 12, noted that the Adjudicating Authority (AA), which is the National Company Law Tribunal (NCLT) under the Insolvency and Bankruptcy Code, 2016 (IBC), has the power to recall its order approving a resolution plan if the plan is not submitted
The Directorate General of Foreign Trade (DGFT) has recently issued Notification No. 60/2023 on February 13, 2024, announcing the implementation of the ‘Indian Trade Classification (Harmonised System) of Export Items, 2023’ for Chapter 01-39 of Schedule 2. This significant notification falls under the ambit of
Table of Contents Details of the caseCitationsPleadingFactsObservation Details of the case In the case of M/s Surya Business Private limited Vs the State of Assam, it was held that tax paid by the TP but was not appearing in 2A shall not be disallowed. Citations
Table of Contents Details of the casePleadingFactsObservation Details of the case Pleading The present petition has been filed to assail the order dated 21.2.2023 passed by the Joint Director (CGST) (Appeals), Noida. “The operative portion of the order reads as below:- “10. In view of
In a significant decision, the Customs, Excise, and Service Tax Appellate Tribunal (CESTAT) Chandigarh addressed the case of Ballarpur Industries Ltd. vs. CCE & ST, Panchkula. The tribunal ruled that once a resolution plan has been approved by the National Company Law Tribunal (NCLT), any
