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Archive: 17 March 2020

Posts in 17 March 2020

Live Course on Appeal, Pleading & Drafting under GST by CA Sachin Jain

May 15, 2024 6495 Views 0 comment Print

oin us for an immersive live course led by renowned expert CA Sachin Jain, as we delve into the intricacies of appeal, pleading, and drafting under GST.

Racket busted of firms falsely claiming GST refund against ITC

March 17, 2020 492 Views 0 comment Print

A large number of proprietorship / partnership firms registered with Gautam Buddha Nagar and other Commissionerates of Delhi NCR which were apparently connected and had claimed huge amount of refunds against accumulated Input Tax Credit (ITC) on account of inverted tax structure and Zero-rated supply of Goods were identified.

Allow companies to consider Restricted Matters via video conferencing: ICSI

March 17, 2020 4419 Views 0 comment Print

ICSI has made a request to MCA to allow participation of directors in a meeting through video conferencing or other audio visual means in which following Restricted matters can be discussed which are otherwise not allowed- a) the approval of the annual financial statements; (b) the approval of the Board’s report; (c) the approval of […]

‘Pattern of renting’ in relation to usage of property provides context in determination of unit

March 17, 2020 1116 Views 0 comment Print

In re ISPRAVA Hospitality Private Limited (GST AAR Maharashtra) ‘Pattern of renting’ in relation to usage of the property provides the context’ or ‘perspective’ in determination of unit of accommodation. In a hotel, a room constitutes ‘a unit’ whereas in a hostel, a bed may constitute ‘a unit’, as tariff is also declared accordingly. In the […]

Taxation of Foreign Companies in India

March 17, 2020 84702 Views 11 comments Print

In India, companies are taxed on their income according to their residential status. A company with residential status in India will be taxed on its global income whether earned in India or outside India whereas a non resident company will be taxed only on income received, accrued or arise in India.

Section 263 Jurisdiction cannot be assumed by Pr. CIT for making roving enquiries

March 17, 2020 1788 Views 0 comment Print

It has been held in various decisions that action u/s. 263 can be taken only when there is lack of enquiry or no enquiry. However, in the instant case necessary enquiry was conducted. Therefore, merely because the Ld. Pr. CIT does not agree with the manner of enquiry conducted by the AO he cannot substitute his own reasons and held the order to be erroneous and prejudicial to the interest of the revenue.

CA Challenges Constitutional validity of Vivad se Vishwas Act 2020

March 17, 2020 9414 Views 2 comments Print

CA Satyaprakash Singh from Mumbai has challenged Constitutional validity of Section 9 of Vivad se Vishwas Act, 2020 by FIling a Public Interest Petition with Hon’ble Supreme Court of India. By this Public Interest Petition, the Petitioner is impugning the Constitutional validity of Section 9 of Vivad se Vishwas Act, 2020. The Respondent No.1 has […]

Bar Council of Punjab & Haryana postpones election to 17.04.2020

March 17, 2020 897 Views 0 comment Print

The Bar Council is also concerned about the democratic process of annual elections of the Bar Associations in Punjab, Haryana and Chandigarh including High Court Bar Association. The magnitude of outbreak COVID-19 has compelled the Bar Council to postpone the date of election from 3rd April 2020 to 17th April 2020 to maintain level playing field for all candidates.

Extend time-line of 31st March 2020 for Vivad Se Vishwas Scheme

March 17, 2020 13188 Views 0 comment Print

Representation for extension of time-lines of 31st March 2020 for payment of 100% of ‘Disputed Tax’ for VSVS in wake of the prevailing economic situations on account of outbreak of Corono Virus, for your consideration.

Capital gain exemption under section 54G of Income Tax Act, 1961

March 17, 2020 59826 Views 1 comment Print

Section 54G of the Income Tax Act provides exemption towards capital gain arisen on the transfer of capital assets like plant or machinery or land or building which is forming part of an industrial undertaking being situated in an urban area. Such transfer should be on account of shifting of industrial undertaking from the urban […]

Proceedings cannot be quashed merely for delay in launching: SAT

March 17, 2020 2964 Views 0 comment Print

In the present case, the appellant neither put a plea of prejudice before the AO nor before us. It was simply stated that since the proceedings were launched by respondent SEBI after a period seven years, the same should be quashed on the ground of delay. The record would show that all the documents concerning the defense of the appellant were filed by her before the AO. Therefore, for want of any prejudice the proceedings cannot be quashed simply on the ground of delay in launching the same.

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