Tuesday, September 10, 2019

'Low Aromatic White Spirit' is covered in 'Light oils & preparation' classified under heading no. 2710 12 90

GST/EXCISE/ST/VAT: Where assessee imported 'Low Aromatic White Spirit (ANYSOL-5) in Bulk (LAWS)' and classified same under Heading No. 2710 19 90, said product would be classifiable under Heading No. 2710 12 90

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Writ not maintainable against best judgment assessment order passed by AO: HC

INCOME TAX : Where Assessing Officer passed a best judgment assessment order under section 144 on assessee and assessee filed writ petition challenging impugned order, assessee was advised to avail statutory remedy of appeal under section 246 before Commissioner (Appeals)

from www.taxmann.com Latest Case Laws https://ift.tt/31bx38F

SAT Quashes Sebi’s Two-year Ban on Price Waterhouse

SAT Quashes Sebi’s Two-year Ban on Price Waterhouse

from taxmann.com News https://www.taxmann.com/topstories/222330000000019366/sat-quashes-sebi’s-two-year-ban-on-price-waterhouse.aspx

NBFCs with exposure to realty developers stare at fresh trouble

NBFCs with exposure to realty developers stare at fresh trouble

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Functions transferred from stock exchange to clearing corporation would be appealable u/s 23L of SCRA: SAT

COMPANY LAW/SCRA: Since, order of a recognized stock exchange is appealable under section 23L, functions and duties of a recognized stock exchange which have been transferred to a clearing corporation would also be appealable under section 23L

from www.taxmann.com Latest Case Laws https://ift.tt/32yAHJY

No question of law arose against order of ITAT confirming disallowance as cash payments exceeded threshold limit

INCOME TAX : Where assessee filed a revised copy of account qua transactions of payment made to its subsidiary showing that all payments were below Rs. 20,000 and revenue had came to a factual finding that revised statement of account was not genuine and was submitted with attempt to fall outside ambit of section 40A(3), no substantial question of law arose under section 260A against said order

from www.taxmann.com Latest Case Laws https://ift.tt/2ZPVefu

SAT quashed SEBI’s order banning PWC for 2 years; questioned SEBI’s jurisdiction in banning any audit firm

SAT quashed SEBI’s order banning PWC for 2 years; questioned SEBI’s jurisdiction in banning any audit firm

from www.taxmann.com Latest Case Laws https://www.taxmann.com/topstories/101010000000190406/sat-quashed-sebi’s-order-banning-pwc-for-2-years-questioned-sebi’s-jurisdiction-in-banning-any-audit-firm.aspx

AO can’t disallow cost of improvement merely relying on enquiries made with assessee’s neighbour: ITAT

INCOME TAX : Where assessee had purchased a flat and incurred expenditure of Rs. 23 lakhs for purpose of renovating house and Assessing Offi...