"12 January 2021" Archive - Page 4

Extension of validity of FCRA registration certificates

F. No. II /21022/23(22)/2020-FCRA-II 12/01/2021

Extension of the validity of the registration certificates issued under the Foreign Contribution (Regulation) Act, 2010 expiring during the period between 29th September, 2020 and 31st May, 2021 upto 31st May, 2021. Extension of Validity of Registration Certificates issued under The Foreign Contribution (Regulation) Act, (FCRA) 2010 Expir...

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Related person influence evidence required before review of declared price

Hanil Automotive India Pvt.Ltd. Vs Commissioner of Customs-III (CESTAT Chennai)

Hanil Automotive India Pvt.Ltd. Vs Commissioner of Customs-III (CESTAT Chennai) The CESTAT Chennai has held that the declared prices cannot be reviewed without any evidence to the effect that the relation between the appellant and the foreign supplier has influenced the declared price or to the effect that there was a flow back of money [...

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CBDT issues Corrigendum to Order on due date extension

F. NO. 370153/39/2020-TPL 12/01/2021

CBDT has vide its order dated 11.01.2021 decided that it will not further extend due date of Tax Audit and ITR Filing. In its order it has given a Table in which it listed out extension given by Other countries but data provided in respect of Singapore and Brazil were having some discrepancies which are […]...

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Supreme Court explains section 80P(4) deduction

The Mavilayi Service Coop Bank Ltd Vs. CIT (Supreme Court)

The Mavilayi Service Coop Bank Ltd Vs. CIT (Supreme Court of India) Limited object of section 80P(4) is to exclude co-operative banks that function at par with other commercial banks i.e. which lend money to members of the public. Thus, if the Banking Regulation Act, 1949 is now to be seen, what is clear from […]...

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GST: HC not to be approached in Goods detention cases if effective alternate remedies available

Podaran Foods India Private Limited Vs State Of Kerala (Kerala High Court)

Writ Court was not to be ordinarily approached in detention cases where effective alternate remedies by way of provisional clearance, and appeal thereafter, were provided against alleged arbitrary/illegal detention orders....

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TDS on leased line charge already paid cannot be enforced by subsequent amendment

DCIT Vs Barclays Technology Centre India Pvt. Ltd. (ITAT Pune)

DCIT Vs Barclays Technology Centre India Pvt. Ltd. (ITAT Pune) Conclusion: Liability to deduct tax at source on leased line charges could be fastened only under the law prevailing at the time of payment. If no liability existed at the time of payment, any subsequent retrospective amendment could not be enforced against the payer. Once [&h...

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Exemption on payment of IGST on re-import of repaired parts/aircrafts into India

Spice Jet Limited Vs Commissioner of Customs (General) (CESTAT Delhi)

Assessee was justified in claiming exemption from payment of integrated tax under the Exemption Notification on re-import of repaired parts/ aircrafts into India during the period commencing August 2017 to March 2019....

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HC stays Rs. 96 Lakh Penalty imposed on Paypal by FIU-IND

Paypal Payments Private Limited Vs Financial Intelligence Unit India (Delhi High Court)

Paypal Payments Private Limited Vs Financial Intelligence Unit India (Delhi High Court) The Petitioner in the present petition challenges the impugned order dated 17th December, 2020, passed by the Director, Financial Intelligence Unit-India, Ministry of Finance, Government of India. By the impugned order, the Petitioner has been held to ...

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