Encashment of bank guarantee as performance security in BoT Project was revenue expenditure. If property constructed not owned by the assessee, expenditure incurred would not be capital – ITAT  ABCAUS Case Law Citation: ABCAUS 2571 (2018) (10) HC Important Case Laws Cited/relied upon by the parties: CIT versus …

Alleged gift from foreign citizen on his death held colouring device as it was based upon undated nomination paper not supported with any evidence ABCAUS Case Law Citation: ABCAUS 2570 (2018) (10) ITAT Important Case Laws Cited/relied upon by the parties: The Assessing Officer (AO) noticed that the …

Limitation Act applicable to IBC 2016 from its inception for CRIP applications filed under Sections 7 and 9 – Supreme Court ABCAUS Case Law Citation: ABCAUS 2569 (2018) (10) SC The present case laws deals with Section 238A of the Insolvency and Bankruptcy Code, 2016 (Code), which was inserted …

Proportionate allocation of deemed dividend based on shareholding of borrowing company may arise if there are two or more common shareholders in lending and borrowing company ABCAUS Case Law Citation: ABCAUS 2568 (2018) (10) HC Important Case Laws Cited/relied upon by the parties: ACIT Vs Bhaumik Colours Pvt. …

No IGST refund to exporters if initially claimed benefit of higher drawback or where higher rate and lower rate were identical- CBIC Circular No 37/2018-Customs F. No. 450/ 119/2017-Cus IV Government of India Ministry of Finance Department of Revenue (Central Board of Indirect Taxes & Customs) Room No. …

Competition Commission of India amends the Combination Regulations vide notification dated 9th October 2018  The Competition Commission of India (CCI), in continuation of its efforts towards simplifying and providing greater clarity on the application of the combination provisions of the Act and the Combination Regulations, has further amended …