CA Gourav Goyal Brief about Employee Stock Option Plan (ESOP) Employee Stock Option Plan (ESOP) is a frequently used incentive mechanism used by organizations. There are various reasons for which the employees of a company are given such stock options. The phenomena of stock options is more prevalent in start-up companies which cannot afford to […]
The FCRA was enacted with the primary purpose of regulating the inflow of foreign contributions and ensuring that the received foreign contributions are not utilized for illegal purposes. All charitable organizations in India receiving foreign contributions come under the purview of this Act. Over the last few years, the Home Ministry has been scrutinizing the […]
A mere suspicion that given the nature of expenses, it is likely that incurrence of such expenditure is for non-business purposes, in our view, cannot be a basis for making the addition in the hands of the assessee.
Addition in respect of completed assessments u/s 153A be made solely on the basis of post search enquiry when no incriminating material was unearthed during search is not valid.
Another step has been taken by ministry for tracking shell companies and vanishing companies by introduction of E-Form ACTIVE (INC-22A).As the expansion of ACTIVE itself defines Active Company Tagging Identities and Verification, Ministry, through this e-form, has asked companies to geo-tag its registered office location and share the data related to compliance of registered office.
Deepak Fertilizers And Petrochemicals Corporation Limited Vs Add. CIT (Bombay High Court) HC held that we do not think that there is any justification for the Deputy Commissioner of Income Tax, Central Circle 8(1) to threaten the appellant/applicant with any prosecution. Even if such prosecution under section 276C is launched, the same shall not proceed […]
All the formations and officers under your jurisdiction should be duly sensitised to step up the preventive vigilance mechanism to rule out illicit movement of currency and commodities;Suitable directions may be given to the formations and officers under your jurisdiction to conduct effective checking and surveillance during the election period to curb illegal activities;
In re Sandvik Asia (P) Ltd. (GST AAAR Rajasthan) Activities performed under the Agreement, though comprises of two or more individual supplies of goods or services, can not be held as Composite Supply . Consequently, such activities will fall under the category of ‘Mixed Supply’ as per definition of Mixed Supply, under Section 2(74) of […]
In re Indo Prosoya Foods Pvt Ltd (GST AAAR Uttar Pradesh) (i) Input Credit attributable to the supply of de-oiled rice bran cake (exempted supply) is to be reversed by the appellant in terms of Section 17(2) of the CGST Act 2017; and (ii) GST @ 5 is payable on supply of de-oiled mahua cake […]
In re Khandelwal Extraction Ltd (GST AAAR Uttar Pradesh) (i) Input Credit attributable to the supply of de-oiled rice bran cake (exempted supply) is to be reversed by the appellant in terms of Section 17(2) of the CGST Act 2017; and (ii) GST @ 5% is payable on supply of de-oiled mahua cake with consequently allowing […]
