"03 February 2020" Archive - Page 5

Section 69B addition merely based on confession statement recorded during search not sustainable

PCIT Surat Vs Nageshwar Enterprises (Gujarat High Court)

PCIT Vs Nageshwar Enterprises (Gujarat High Court) A Co-ordinate Bench of this Court, in the case of Kailashben Manharlal Chokshi vs. Commissioner of Income-tax, 328 ITR 411, took the view that merely on the basis of admission, the assessee cannot be subjected to additions. The Co-ordinate Bench proceeded to observe that unless and until ...

AAR can decide question of Place of Supply: Kerala HC

Sutherland Mortgage Services INC Vs Principal Commissioner (Kerala High Court)

In the instant case, it is true that the issue relating to determination of place supply as aforestated is not expressly enumerated in any of the clauses as per clauses (a) to (g) of Sec. 97(2) of the CGST Act, but there cannot be any two arguments that the said issue relating to determination of place of supply...

Sales Tax exemption- Availability to units after re-organization of States

State of Madhya Pradesh and Ors. Vs. Lafargy Dealers Association and Ors. (Supreme Court)

State of Madhya Pradesh and Ors. Vs. Lafargy Dealers Association and Ors. (Supreme Court) Whenever a new state is created, there would be difficulties and, issues would arise but these have to be dealt within the parameters of the constitutional provisions and the law and not by negating the mandate of the Parliament which has […]...

Cenvat Credit eligible on renting of premises outside factory for marketing

Anand I Power Ltd. Vs Commissioner of Central GST (CESTAT Mumbai)

Anand I Power Ltd. Vs Commissioner of Central GST (CESTAT Mumbai) Renting of immovable property services taken to be used as branch office for procurement of orders, delivery of goods, repair and maintenance service as well as for marketing purpose are admissible credits for both pre and post amendment period covering the entire disputed ...

Refund of unutilized ITC inadmissible if goods exported out of India were subjected to export duty

In re Chowgule and Company Private Limited (GST AAAR Goa)

In re Chowgule and Company Private Limited (GST AAAR Goa) In the instant case alo, the exported goods are specified in the Second Schedule to the Customs Tariff Act, 1975 as subjected to export duty; while by a Notification issued under Section 25 (1) of the Customs Act, the same were exempted. Hence, the ratio […]...

Why Insurance Stock tanked and What Threatens Insurance Agents?

In continuation of my 1st article on Budget analysis  ‘Fiscal Deficit Financial Year-2020-21 depends on Stake Sale‘ of key areas I find that the new tax regime which is optional till now creates a significant problem for Indian savings. I also find that the day the New Tax Regime becomes permanent in the coming year’s [...

Posted Under: Income Tax |

Obligatory Cessions to Indian Re-insurers for FY 2020-21

F. No. IRDAI/RI/1/167/2020 03/02/2020

The percentage cession of the sum insured on each General Insurance Policy to be reinsured with the Indian Re-insurer(s) shall be 5% (five percent) in respect of insurance attaching during the financial year beginning from 1st April, 2020 to 31st March, 2021, except the terrorism premium and premium ceded to Nuclear pool, wherein it would...

Notification No. 14/2020-Customs (N.T./CAA/DRI) Dated 03.02.2020

Notification No. 14/2020-Customs (N.T./CAA/DRI) 03/02/2020

Appointment of Common Adjudicating Authority by DGRI- Notification No. 14/2020-Customs (N.T./CAA/DRI) Dated 3rd February 2020. Government of India Ministry of Finance (Department of Revenue) Central Board of Indirect Taxes and Customs Directorate of Revenue Intelligence Notification No. 14/2020-Customs (N.T./CAA/DRI) New Delhi, dated the ...

Notification No. 13/2020-Customs (N.T./CAA/DRI), Dated: 03.02.2020

Notification No. 13/2020-Customs (N.T./CAA/DRI) [S.O. 562(E)] 03/02/2020

S.O.562(E). - In pursuance of notification No. 60/2015-Customs (N.T.), published vide number G.S.R. 453(E), dated 4th June 2015 in Gazette of India, Extra-ordinary, Part-II, section 3, sub-section (i), and as amended by notification No. 133/2015-Customs (N.T.), published vide number G.S.R. 916(E) dated 30th November 2015 in Gazette of Ind...

Notification No. 12/2020-Customs (N.T./CAA/DRI), Dated: 03.02.2020

Notification No. 12/2020-Customs (N.T./CAA/DRI) 03/02/2020

Appointment of Common Adjudicating Authority by DGRI- Notification No. 12/2020-Customs (N.T./CAA/DRI) Dated 3rd February 2020. Government of India Ministry of Finance (Department of Revenue) Central Board of Indirect Taxes and Customs Directorate of Revenue Intelligence Notification No. 12/2020-Customs (N.T./CAA/DRI) New Delhi, dated 3rd ...

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