Order of seizure of goods in transit passed u/s 129(1) of  U.P. Goods and Service Tax Act, 2017 not appealable and therefore, a writ petition is maintainable against it subject to the limitations of judicial review – Allahabad High Court ABCAUS Case Law Citation: ABCAUS 2194 (2018) (02) …

Revised Procedure for procedure for modification in IEC for shifting the office Director General of Foreign Trade (DGFT) has revised the provision at para 2.14 (A) of the Handbook of Procedure (2015-20). Under the existing procedures, when an IEC holder seeks modification/ change of Branch Office/ Head Office/ Registered …

Determination of fair market value of unquoted equity shares of ‘Start Up’ companies under section 56(2)(viib) of the Income-tax Act read with Rule 11UA(2) of Income-tax Rules-CBDT Instruction Section 56(2)(viib) of the Income-tax Act, 1961 (Act) provides that where a closely held company issues its shares at a …

Penalty u/s 272A(2)(c) imposed on a bank branch for delay in submitting information called u/s 133(6) deleted as bank branches are subject to various audit and always engaged in service of customers. ABCAUS Case Law Citation:ABCAUS 2193 (2018) (02) ITAT Important Case Laws Cited/relied upon by the parties:Hindustan …

Applicability of AS-22 or IndAS-12 to Government company with respect to provisions relating to deferred tax asset/liability for seven years MCA has issued a notification providing that provisions of Accounting Standard 22 or Indian Accounting Standard 12 relating to deferred tax asset or deferred tax liability not to …

No disallowance for mistake in Transporters declaration details filed u/s 194C with Income Tax Authorities. Deduction is allowable if all conditions were fulfilled – ITAT   Prelude: Section 194C contains the provisions for deduction of tax at source on payments made to contractors. Sub section (6) provides an exception …