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Archive: 12 July 2020

Posts in 12 July 2020

Business Promotion Expenses for Precious items allowed partially considering nexus with Turnover

July 12, 2020 7956 Views 1 comment Print

The issue under consideration is whether AO and CIT(A) are correct in disallowing the Business Promotional Expenditure declared by the assessee?

Stamp Duty to obtain Business Premises on Lease is Revenue Expense

July 12, 2020 15429 Views 0 comment Print

The issue under consideration is whether the stamp duty paid for obtaining the business premises on lease is deductible under section 37 of the Income Tax Act, 1961?

Aatma Nirbhar Bharat Package – Progress So Far

July 12, 2020 1035 Views 0 comment Print

Finance Minister Smt. Nirmala Sitharaman reviews implementation of Aatma Nirbhar Bharat Package pertaining to Ministries of Finance & Corporate Affairs

IBBI guideline on online Education by IPAs & RVOs

July 12, 2020 738 Views 0 comment Print

Insolvency and Bankruptcy Board of India (Online Delivery of Educational Course and Continuing Professional Education by Insolvency Professional Agencies and Registered Valuers Organisations) Guidelines, 2020

Import of Blended edible vegetable oils without prior AGMARK certification not allowed

July 12, 2020 1395 Views 0 comment Print

It has been clarified that import of Blended Edible Vegetable Oils (BEVO) without prior AGMARK certification is not allowed in India and further the Blended Edible Oils (BEVO) shall also comply with the rules and regulations made under FSS Act, The above mentioned compliance is to be ensured by the field formations.

Requirement of Veterinary Certificate for Import of Milk and Milk Products into India

July 12, 2020 3348 Views 0 comment Print

Compliance should be met regarding compulsory veterinary certificate issued by Competent Authority of exporting country under Food Safety and Standards (Food Products Standards and Food Additives) Regulations, 2011.

Section 234B & 234C Interest on Book Profit Not Justified

July 12, 2020 4956 Views 0 comment Print

The issue under consideration is whether the charge of interest under sections 234B and 234C on the book profit was not justified?

Section 69C- No addition on mere Sales Tax Department information

July 12, 2020 3114 Views 0 comment Print

The issue under consideration is whether the Tribunal  was  justified in holding that provisions of section 69C of the Income Tax Act, 1961 are not applicable for assessee?

Post Incorporation Compliances of Private Company

July 12, 2020 53961 Views 6 comments Print

PRIVATE LIMITED COMPANY: The Company shall be a private Company within the meaning of Section 2(68) of the Companies Act, 2013, limited by shares and having a minimum paid – up share capital as may be prescribed and shall: 1. restricts the right to transfer its shares; 2. Except in case of one person Company, limit […]

GST on services provided under vocational training courses recognized by NCVT

July 12, 2020 1023 Views 0 comment Print

In re The Leprosy Mission Trust India Bethesda leprosy home and hospital  (GST AAR Chhattisgarh) M/s The Leprosy Mission Trust India Jangir Champa, Chhattisgarh, (TLMTI) [hereinafter also referred to as the applicant has field an application U/s 97 of the Chhattisgarh Goods & Services Tax Act, 2017 seeking advance ruling as to whether services provided under […]

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