Saturday, 26 May 2018

CBIC fixes Rs. 2.5 lakh monetary limit for appeals to Commissioner (Appeals) in legacy matters


CBIC fixes monetary limit of Rs. 2.50 lakh for appeals to Commissioner (Appeals) in respect of legacy central excise and service tax matters; Such limit would also apply to cases currently pending at Appellate Commissioner level, and same practice of withdrawal of Dept. appeals from CESTAT and HC shall be followed : CBIC Instruction 

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Delhi HC: No Deemed Gift Tax on Share Buy-Back at Discount

The Delhi High Court in the case of Globe Capital market has ruled that a company’s buy-back of its own shares cannot be taxed under Section...