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Archive: November, 2018

Posts in November, 2018

CSR Expenses prior to 1st April 2015 Deductible from Total Income: ITAT

November 30, 2018 1758 Views 0 comment Print

Bengal NRI Complex Ltd. Vs DCIT (ITAT Kolkata) Since the ‘CSR’ expenses are mandatory for companies incorporated as per the Companies Act, 2013 and the expenditure have been incurred by the assessee as envisaged under the Companies Act, 2013. So we are of the opinion that it has to be allowed and we take note […]

Initiation of Penalty proceeding against Dead Person is Bad in Law

November 30, 2018 7770 Views 0 comment Print

ACIT Vs Vijay Kumar Agarwal (ITAT Kolkata) The ld. counsel for the assessee before us has raised a preliminary issue that the penalty proceedings having been initiated by the Assessing Officer against a dead person, initiation itself was bad-in-law and the penalty imposed under section 271AAB is not sustainable. He has pointed out that the […]

Disallowance u/s. 40(a)(ia) are outside the jurisdiction of section 154

November 30, 2018 1722 Views 0 comment Print

Sri Sachin Sharma Vs ACIT (ITAT Ranchi) A perusal of provisions of section 194C of the Act shows that a person is liable to deduct TDS when a contract for work is of an amount more than Rs.30,000/- or where payment for work is made to a person more than Rs.75,000/- during the financial year. […]

Application U/s 7 of IBC 2016 cannot be Admitted after Settlement between Parties : NCLAT

November 30, 2018 1095 Views 0 comment Print

Gaurav Pandey Vs Eternity Investment Services Pvt. Ltd. & Anr. (National Company Law Appellate Tribunal, Delhi) 30.11.2018 On 16th November, 2018 when the matter was taken up, the following order was passed : “Apart from other issues raised in the appeal it is contended by learned senior counsel representing the Appellant (Corporate Debtor) that a settlement […]

TDS U/s. 194J not deductible on fees for Translation of Articles

November 30, 2018 14577 Views 0 comment Print

Shri Goutam Mukhopadhyay Vs PCIT (ITAT Kolkata) It is not in dispute that the assessee has made payment of Rs. 96,000/- to Mahua Basu Mallick for displaying articles towards Cancel Awareness Programme in Bengali language pursuant to dictations given by the assessee in English. In effect, this is nothing but a payment made for translation […]

SEBI (Settlement Proceedings) Regulations, 2018

November 30, 2018 8826 Views 0 comment Print

(1) These regulations may be called the Securities and Exchange Board of India (Settlement Proceedings) Regulations, 2018. (2) They shall come into force on the 1st day of January 2019.

List of Refineries/Mint granted BIS Licence as on 31st July, 2018

November 30, 2018 546 Views 0 comment Print

DGFT inserts a new Appendix-2X in Appendices and Aayat Niryat Forms of FTP, 2015-20 listing out Refineries/Mints which have obtained BIS Licence and as available on

Fees for Preferential Certificate & Post Verification of self-certified Certificate of Origin

November 30, 2018 1806 Views 0 comment Print

Provision for fees for (i) Preferential Certificate of Origin & (ii) Post Verification of self certified Certificate of Origin under EU-GSP is laid down vide Public Notices. 53/2015-2020-DGFTDated 30th November 2018.

Application Fee for Issue of Preferential / self certified Certificate of Origin

November 30, 2018 1782 Views 1 comment Print

Fee for issuance of (i) Preferential Certificate of Origin and (ii) Post Verification of self certified COO under EU-GSP under verification fee under otheo FTAs is laid down.

DGFT amends Import policy of gold-dore

November 30, 2018 1164 Views 0 comment Print

Central Government hereby amends import policy of gold-dore under HS code 7108 12 00 under ITC (HS), 2017 Schedule — I (Import Policy).

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