Wednesday, 30 May 2018

DIPP's "narrow" eligibility criteria for Budgetary Support Scheme in J&K, under HC scanner

J&K HC admits challenge to the narrow eligibility criteria stipulated for industrial units to avail DIPP’s Budgetary Support Scheme in the State of J&K; Scheme, which was introduced in October 2017, debars units that did not commence commercial production before July 1, 2017; Petitioner has invoked principle of promissory estoppel while contesting said cut-off date; HC has issued notice to Revenue, while posting the matter for hearing on June 5 

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Long-term capital losses available against gains from transfer of depreciable assets

  Recently, the Mumbai ITAT in ACIT v. Reliance Infrastructure Limited ruled in favour of the taxpayer and reaffirmed that the special co...