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- Jul 20, 2023
- 2 min
Bogus Purchases: Bombay HC Limits IT Addition [Ashwin Purshotam Bajaj]
[Bombay HC] – Only a profit element can be added in respect of bogus purchases under Section 69 of the Income Tax Act, 1961 when the...
- Jul 15, 2023
- 4 min
The Delhi HC Quashed FIR on the Ground That the Dispute Was Purely Civil in Nature
Court decision emphasizes the civil nature of disputes over financial transactions, underlining legal boundaries.
- Jul 14, 2023
- 5 min
[AT-PMLA] Attachment under PMLA upheld even if complaint not yet filed under Black Money Act
The Hon’ble Appellate Tribunal under the Prevention of Money Laundering Act, 2002 (‘the Appellate Tribunal’) in a recent case of Dr....
- Jul 3, 2023
- 3 min
[CESTAT] Adjudication liable to be set aside if cross-examination not granted
Customs, Excise and Service Tax Appellate Tribunal, Ahmedabad (‘CESTAT’), recently passed an order in the case of Indu Oversea Private...
- Jul 3, 2023
- 2 min
NFRA Imposes a Penalty on Auditors
NFRA imposes heavy fines and restrictions on auditors for misconduct and standards violations.
- Jul 1, 2023
- 2 min
Bombay HC stays LOC, lets petitioner travel out of country, imposes Rs 50,000 costs for late filing
[Bombay HC] – Stays the LOC and permits the Petitioner to travel out of the country but imposes costs of Rs. 50,000 for filing the...
- Jul 1, 2023
- 3 min
Bombay HC Exempts Directors from Income-tax Liability in Company Dues [Prakash B. Kamat v. PCIT]
[Bombay HC] Income-tax dues of a company cannot be recovered from the Director merely because of his directorship in a company. The...
- Jun 30, 2023
- 3 min
Provisional Attachment: 1-Year Limit on Bank Account Freeze - Bharat Parihar v. State of Maharashtra
[Bombay HC] Provisional attachment of a bank account cannot continue after the expiry of a year from the date of the original attachment....