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Archive: 12 November 2020

Posts in 12 November 2020

Understanding (Adjusted Gross Revenue) woes

November 12, 2020 3111 Views 0 comment Print

Introduction Some 25 years back on July 31 st 1995, the then CM of West Bengal Sri Jyothi Basu  dialled up Sri Sukhram the then Union Communications minister through (Modi-Telstra) Network which later took an new avatar as Spice Telecom. That time both the outgoing and incoming call were charged at Rs 16 & Rs […]

Inability To Do Household Work – Ground Of Cruelty For Seeking Divorce?

November 12, 2020 10695 Views 3 comments Print

A women’s place in the marriage has been the cause of many matrimonial disputes. What is expected of a wife/daughter-in-law poses a problem in maintaining a healthy marriage. With the passage of time, the norms of society have changed and women no longer belong in the households only.

DGGI, Mumbai, arrests 2 persons in fictitious ITC case

November 12, 2020 933 Views 0 comment Print

Mumbai Zonal Unit of the Directorate General of GST Intelligence, CBIC has arrested Mr. Sunil Ratnakar Gutte, Director of M/s. Sunil Hitech Engineering Ltd., on charges of having fraudulently availed, utilized, as well as passed on fictitious Input Tax Credit, today, 12th November 2020.

Firm busted for availing benefit from bogus invoices of around Rs 685 crore

November 12, 2020 582 Views 0 comment Print

On the basis of specific intelligence as well as further data mining/analysis on GSTN and E way bill portals, the officers of CGST Delhi South Commissionerate, have busted a syndicate of firms involved in availing invoices/E-way bills issued on the GSTIN of fake/dummy firms and getting Refund of IGST on the strength of such fake Invoices.

Undisclosed income of more than Rs. 500 crore unearthed

November 12, 2020 609 Views 0 comment Print

The Income Tax Department conducted searches on 10/11/2020 in the case of a leading wholesale bullion and Gold Jewellery dealer doing business from Chennai. The search operation was carried out at 32 premises located in Chennai, Mumbai, Kolkata, Coimbatore, Salem, Trichy, Madurai and Tirunelveli.

Atmanirbhar Bharat Package 3.0

November 12, 2020 5673 Views 0 comment Print

Ministry of Finance Presentation of details under Aatmanirbhar Bharat Package 3.0 to support Indian economy in fight against COVID-19 as announced by Union Finance & Corporate Affairs Minister Smt. Nirmala Sitharaman Posted On: 12 NOV 2020 12th November 2020 Ministry of Finance State of Economy – Strong Recovery COVID active cases decline from over 10 […]

Section 147/148 proceedings on mere investigation wing information was not valid

November 12, 2020 11799 Views 0 comment Print

Hitesh Ashok Vaswani Vs DCIT (ITAT Ahmedabad) In the present case the search information received from the investigation wing was used to form the reason to believe by the AO but without applying the mind. Thus the reasons were merely recorded on the borrowed satisfaction by the AO. The source for all the conclusions was […]

Adjudication Order Considered as Vague if Show Cause Notice Traverses beyond its Scope

November 12, 2020 7077 Views 0 comment Print

The issue under consideration is whether the show cause notice indicate the exact amount of service demanded in the respective services under Service Tax? An adjudication order without a proposal and made in pursuant of a vague show cause notice cannot be sustained.

Section 68 Addition Justified for Unexplained Gifts Received from Non-Related Donor

November 12, 2020 1980 Views 0 comment Print

The issue under consideration is whether the CIT (Appeals) has grossly erred in confirming the addition as made by the Assessing Officer (AO) on account of gifts u/s 68? Addition u/s 68 Justified for Unexplained Gifts Received from Non Related Donor.

SEBI: Monitoring & Disclosures by Debenture Trustee(s)

November 12, 2020 9069 Views 0 comment Print

Debenture trustee shall incorporate the terms and conditions of periodical monitoring in the debenture trust deed wherein listed entity shall be liable to provide relevant documents/ information, as applicable, to enable the debenture trustee(s) to submit the following reports/ certification to Stock Exchange(s) within the timelines mentioned below:

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