The CBIC notified the Standard Operating Procedure (SOP) for verification of taxpayers granted deemed registration. From August 21, 2020, Rule 9 of the CGST Rules, 2017 provide that in cases where Aadhaar authentication has either not been opted for by the applicant or where such authentication has failed, the proper officer has to mandatorily initiate […]
Examination Department The Institute of Chartered Accountants of India Dated: 27th November, 2020 IMPORTANT ANNOUNCEMENT : OPT OUT DUE TO COVID 19 In continuation to the Announcement dated 7th November, 2020 made regarding Opt Out Scheme wherein the students were allowed to opt out for the various reasons due to COVID 19 and such opt […]
The Directorate General of GST Intelligence (DGGI) Gurugram Zonal Unit (GZU), Haryana has arrested one Sh. Satyender Sharma resident of Haryana on charges of manufacturing and supplying illegally manufactured cigarettes without the requisite tax paying documents and without payment of applicable GST and cess.
Nirja Khatuwala Vs ITO (ITAT Gauhati) I note that the out of total outstanding credits of Rs. 2,23,89,337/-[total number of sundry creditors were eleven (11)], the Assessing Officer was not satisfied about the genuinity in respect of credit worth Rs. 34,35,509/- i.e. only in respect of three sundry creditors which comes to 16% of total […]
As the NAV for the switch out (redemption/repurchase) transaction in a liquid scheme for the request received before the cut-off timing on Friday or on a day preceding a non-business day would be the closing NAV of the day immediately preceding the next business day, therefore, the NAV applicable for the coinciding switch in (subscription) transaction should not be prior to the day of NAV applicable for the switch out transaction. Therefore, in such case, the applicable NAV for the switch in transaction would be as per the applicable provisions, treating the switch in request as received on the day when NAV of switch out transaction is applicable.
Central Government hereby designates Special Courts in the States of Maharashtra, West Bengal (WB) and Tamil Nadu (TN) for the purposes of trial of offences under Companies Act, 2013, in respect of cases filed by the Securities and Exchange Board of India. MINISTRY OF CORPORATE AFFAIRS NOTIFICATION New Delhi, the 27th November, 2020 S.O. 4283(E).—In […]
Harendra Singh Vs ITO (ITAT Delhi) CIT(A) while deleting the sole foundational issue on which the re-assessment proceedings were initiated, cannot go further and examine an issue which was not even the subject matter of re-assessment proceedings Since the reopening was to verify the purchase transaction and since the said transaction never took place and, […]
Dr. Malabika Bhattacharjee Vs Internal Complaints Committe, Vivekananda College & Ors. (Calcutta High Court) A cursory glance at Section 2(m) of the posh 2013 Act shows that the term ‘respondent’ brings within its fold ‘a person’, thereby including persons of all genders. Although there is substance in the submission of the petitioner that the said […]
In Re. Mr. Prannoy Roy & Mrs. Radhika Roy (SEBI) It is a fact on record that Mr. Prannoy Roy was the Managing Director/Promoter and Mrs. Radhika Roy was the Chairman/Promoter of NDTV during the UPSI period and were in possession of the UPSI (PSI-6). That the Noticees have purchased 4835850 shares of NDTV while […]
Representations have been received from the Gems and Jewellery Export Promotion Council seeking clarification on whether gems and jewellery is allowed to be exported through courier under the Courier Imports and Exports (Electronic Declaration and Processing) Regulations, 2010 as also the Courier Imports and Exports (Clearance) Regulations, 1998.
