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Income-tax (Ninth Amendment) Rules, 2023
Publish Date : Monday, June 12, 2023 source
Notification No. 40/2023 [F. No. 279/Misc./M-42/2023-ITJ] / SO 2624(E)
Publish Date : Wednesday, June 14, 2023 source
MCA Excludes Certain Transactions/Contracts from the Purview of Moratorium under IBC
MCA Notification F. No. Insol-30/1/2023, dated 14.06.2023 The Ministry of Corporate Affairs has notified that the prohibition under moratorium period shall not be applicable to the production sharing contracts, revenue sharing contracts, exploration licenses and mining leases made under the oilfields (Regulation and Development) Act, 1948 (53 of 1948) entered by the corporate debtor. Further, […]
Notification No. 41/2023 [F. No. 187/1/2023-ITA-I] / SO 2625(E)
Publish Date : Wednesday, June 14, 2023 source
Payment via GST DRC-03 Refunded if Officer Doesn’t Acknowledge in DRC-04
Case Details: Samyak Metals (P.) Ltd. v. Union of India - [2023] 151 taxmann.com 225 (Punjab & Haryana) Judiciary and Counsel Details Ms Ritu Bahri & Kuldeep Tiwari, JJ. Sandeep Goyal, Adv. for the Appellant. Tajender Joshi for the Respondent. Facts of the Case The petitioner was engaged in business of manufacturing of Aluminium ingots. The business […]
HC Set Aside Assessment Order Due to Lack of Reasons and Details of Demand Raised
Case Details: Jogesh Kumar Dehury v. Additional CT & GST Officer - [2023] 151 taxmann.com 193 (Orissa) Judiciary and Counsel Details B.R. Sarangi & M.S. Raman, JJ. A.K. Mohanty, Adv. for the Petitioner. Diganta Dash for the Respondent. Facts of the Case In this petition, the assessee had challenged the assessment order passed by the GST authority […]
Classification of Changes to the Inventory of Scrap under the Statement of P&L as per Schedule III
A company engaged in manufacturing of super alloys generates a significant amount of scrap. It has been estimated that 95% of the generated scrap can be reused in the production process, while the remaining 5% is sold in the open market. The company recognizes the net increase or decrease in scrap stock as “Consumption of […]
e-advance rulings (Amendment) Scheme, 2023
Publish Date : Monday, June 12, 2023 source
Sec. 54B Exemption not Valid for Seaside Land Claimed as Agricultural Use: ITAT
Case Details: Keshav Sunderam Rajam v. Income-tax Officer (International Taxation) - [2023] 150 taxmann.com 386 (Chennai-Trib.) Judiciary and Counsel Details V. Durga Rao, Judicial Member & G. Manjunatha, Accountant Member S.V. Venkateshwaran, FCA for the Appellant. AR V. Sreenivasan, Addl. CIT for the Respondent. Facts of the Case Assessee, a Non-Resident, sold land adjacent to the sea that […]
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