"21 November 2019" Archive - Page 3

No TDS on Agreement for Bulk Sale of Advertisement Space

Times VPL Limited Vs CIT (Karnataka High Court)

Times VPL Limited Vs CIT (Karnataka High Court) In the instant case, appellant company had enter into an agreement for bulk sale of advertising space with its’ holding company on a principal to principal basis by transfer of rights therein. The appellant under the agreement makes purchase of advertisement space and exercises control...

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CBIC notifies Rate of Exchange of Foreign Currencies wef 22.11.2019

Notification No. 85/2019-Customs (N.T.) (21/11/2019)

Exchange Rates Notification No. 85/2019-Custom (NT) dated 21.11.2019-Notifying Customs Rate of Exchange of Foreign Currency Conversion w.e.f. 22nd November, 2019. GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) (CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS) ***** Notification No. 85/2019 – Customs (N.T.) New Delhi, da...

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Fees for included services taxable only if technical knowledge made available

PCIT Vs EGL Eagle Global Logistics (India) Pvt. Ltd. (Punjab and Haryana HC)

In view of Section 90(2) of the Act and clause 4(b) of Article 12 of the Treaty, the provisions of this Act would stand applicable only where fees for included services taxable only if there is a make available technical knowledge. In the case in hand finding of fact that has been returned by the ITAT, there is no make available of the te...

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Registration cannot be cancelled for mere non-intimation of amendments in Trust Deed

ACIT (Exemption) Vs Bhansali Trust (ITAT Mumbai)

ACIT (Exemption) Vs Bhansali Trust (ITAT Mumbai) A mere non-intimation of the amendments in the Trust Deed to the Department cannot ipso-facto lead to cancellation of registration because the statutory requirement of cancellation of registration contained in section 12AA(3) of the Act prescribe that the cancellation of registration cannot...

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Sunset Review of Anti-Dumping Duty on Nylon Tyre Cord Fabric import from China

Case No. SSR 10/2019 (21/11/2019)

The product under consideration in the present petition is Nylon Tyre Cord fabric (NTCF) originating in or exported from China. The subject good is a fabric of nylon, meant largely for tyre cord. NTCF finds application in different kinds of automotive tyres such as bus & truck tyres, two wheeler tyres, cycle tyres, Light commercial Vehicl...

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Notification under SEBI (Certification of Associated Persons in Securities Markets) Regulations, 2007

Notification No. SEBI/LAD-NRO/GN/2019/41-SEBI (21/11/2019)

Notification under Securities and Exchange Board of India (Certification of Associated Persons in the Securities Markets) Regulations, 2007-The trading members shall ensure that all such associated persons who are approved users or sales personnel as on the date of this notification obtain the certification by passing the Commodity Deriva...

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Practical Approach – Sabka Vishwas (Legacy Dispute Resolution) Scheme

Long Awaited and Vital scheme for Taxpayers……. Finally, in the Union Budget 2019-20, the Hon’ble Finance Minister announced the Sabka Vishwas-Legacy Dispute Resolution Scheme, 2019. The Scheme has now been notified and operationalized from 1st September 2019. The Scheme would continue till 31st December 2019. Government expects ...

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Posted Under: Income Tax |

How You Can Detect Property Fraud in Just Rs. 12…?

In India, Property fraud cases are not a new thing and lakhs of people are suffering from this major problem. Many times when people buy a house they enquire it from the seller that whether the property he is selling is free from any encumbrances, charges, mortgage,etc or not. If the seller is genuine he […]...

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Posted Under: Income Tax |

Analysis of restriction on ITC not appearing in GSTR 2A

CBIC make a significant change in the GST law by inserting rule 36(4) of CGST rule 2017 thereby restricting the taxpayers to avail ITC only up to 120% of eligible ITC appearing in GSTR-2A of a particular month and consequently it is very important to reconcile the GSTR 2A every month to maintain the track […]...

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Posted Under: Income Tax |

Amended criteria for Related Party Transactions under Company Law

On 18th November,2019 Ministry of Corporate Affairs (MCA) had notified amendment in the Companies (Meeting of Board and its Powers) Rules, 2014 and amended criteria for Related Party Transactions (RPT) by amending Rule 15 (3) (a) (i) to (iv) of these Rule Companies (Meetings of Board and its Powers) Second Amendment Rules, 2019 vide MCA ...

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Posted Under: Income Tax |