201807.18
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Supplier under MSMED Act

“Even if an entity has not filed a Memorandum as required under Section 8(1) of the MSMED Act, it would still be treated as a supplier under Section 2(n) of the MSMED Act if it falls within the definition of the micro/small enterprise. ISSUE The Court had to deal with an issue as to whether…

201807.10
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Res Judicata Vs Principle of Consistency

Res Judicata Vs Principle of Consistency   In Principal Commissioner of Income Tax v. M/s Quest Investment Advisors Pvt. Ltd, under Income Tax Appeal No. 280 OF 2016 – High Court of Bombay dealt with “Res Judicata” and “Principle of Consistency” as held as under: ISSUES 1.Whether the Tribunal was justified in deleting the disallowance made under…