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Archive: 14 August 2020

Posts in 14 August 2020

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

May 15, 2024 6480 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.

Guidelines to implement Faceless Assessment Scheme 2019

August 14, 2020 27123 Views 0 comment Print

CBDT issues Detailed guidelines for the implementation of Faceless Assessment Scheme, 2019 and role of residual charges in this regard. F. No.173/165/2020 -ITA-I Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes ***** New Delhi, dated 14th August, 2020 To, All PrCCsIT, Subject: Guidelines for the implementation of Faceless Assessment […]

Ex Parte Order is Not Justified if Notice is Served on Wrong Address

August 14, 2020 3687 Views 0 comment Print

The issue under consideration is whether ex parte order passed by CIT(A) because of non attendance of assessee on the date of hearing is justified in law?

ICSI Request for extension of due dates of Company Law compliances

August 14, 2020 10746 Views 0 comment Print

REQUEST FOR EXTENSION OF DUE DATES OF COMPLIANCES UNDER THE COMPANIES ACT, 2013 DUE TO COVID-19- As you are aware that COVID-19 pandemic has affected the entire world including India. Many offices have been closed, while others are not fully operational

Key Highlights of Platform for `Transparent Taxation ‑ Honouring the Honest’

August 14, 2020 4452 Views 1 comment Print

MAXIMUM GOVERNANCE WITH MINIMUM GOVERNMENT PM Modi Launches Platform for `Transparent Taxation ‑ Honouring the Honest’ KEY HIGHLIGHTS  Tax system aims to be Seamless, Painless and Faceless: PM The platform has major reforms like Faceless Assessment, Faceless Appeal & Taxpayers Charter Faceless Assessment & Taxpayers Charter have come into force from today while the facility […]

Faceless Assessment Appeal & New Changes in Income Tax

August 14, 2020 7590 Views 0 comment Print

FACELESS ASSESSMENT AND APPEAL OBJECTIVES Imparting greater efficiency, transparency and accountability Eliminating physical interface between the taxpayer and tax officers FEATURES Selection only through system using data analytics and AI Dynamic Jurisdiction — abolition of territorial jurisdiction Automated random allocation of cases. Central issuance of notices with Document Identification No. (DIN) No physical interface, No […]

RCM for purchase of input goods & services used in Construction of Project from Unregistered Person

August 14, 2020 67260 Views 1 comment Print

Reverse Charge Mechanism (RCM) for purchase of input goods and services used in Construction of Project from the Unregistered Person [Notification No. 07/2019- Central Tax (Rate) dated 29th March 2019 effective from 1st April, 2019]. After a long gap, the Central Government has used its power provided under amended Section 9(4) of the CGST Act, […]

Income from Letting out Property in Industrial park/SEZ including amenities Taxable as Business Income

August 14, 2020 1113 Views 0 comment Print

Whether the income derived from letting out of the property in an industrial park/SEZ including the amenities would be business income in the hands of the owner of the property?

Section 56(2)(viib) AO cannot change DCF method adopted by assessee

August 14, 2020 2874 Views 0 comment Print

I-Exceed Technology Solutions Pvt. Ltd. Vs ITO (ITAT Bangalore) The provisions of Rule 11UA(2)(b) of the Rules provides that, the Assessee can adopt the fair market value as per the above two methods and the choice of method is that of the Assessee. The Tribunal has followed the judgment of Hon’ble Bombay High Court rendered […]

Anti-dumping duty on imports of DPP Red 254 extended till 16.11.2020

August 14, 2020 825 Views 0 comment Print

CBIC amends amend notification No. 41/2015-Customs(ADD) to extend the levy of anti-dumping duty on imports of Diketopyrrolo Pyrrole Pigment Red 254 (DPP Red 254) originating in or exported from China PR for a period of three months i.e. up to and inclusive of 16th November, 2020 vide Notification No. 24/2020-CUSTOMS (ADD) dated 14th August, 2020. […]

BCI notifies rules for fair, smooth & fearless functioning of Bar Councils

August 14, 2020 519 Views 0 comment Print

Due to increased groupism in the Bar Councils, on many occasions this Council has been receiving complaints and a very anomalous situation arises some times. Because of some impractical rule of some states, the situation in some of the State Bar Council leads to unwanted groupism, resulting in unhealthy atmosphere and inefficient functioning of the State Bar Councils.

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