CBDT issues Notification No. 03/2021-Income Tax and notifies Faceless Penalty Scheme, 2021. Also Read- Faceless Penalty Scheme, 2021 – CBDT notifies directions MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) New Delhi, the 12th January, 2021 Notification No. 02/2021-(Income-Tax) S.O. 117(E).—In exercise of the powers conferred by sub-section (2A) of section 274 […]
Har Kishan Vs President Secretariatt (Delhi High Court) On a query from the Petitioner, it is revealed that the Petitioner’s daughter had also applied for an appointment as Multi-Tasking Staff, in the Presidential Estate, Rashtrapati Bhawan. However, this fact does not find any mention in the present writ petition. A perusal of the writ petition […]
Henceforth, whenever CBIC issues any circular, MGSTD, on its examination, would issue a separate circular regarding its applicability for the implementation of the MGST Act.
Addl. CIT Vs Rites Limited (ITAT Delhi) AO has disallowed claim of the assessee company qua CSR expenditure by misinterpreting the provisions contained under section 37(1) of the Act by observing that since CSR expenditure is not incurred for the purpose of carrying on the business, such expenditure cannot be allowed under the existing provisions […]
Sanjiv Madhusudan Shah Vs Assistant Commissioner of Central and Service Tax and Ors. (Bombay High Court) Challenge made in this writ petition is to the notice to show cause cum demand issued by the Assistant Commissioner of Central Goods and Services Tax (CGST), Mumbai West dated 28.12.2020 seeking to levy service tax upon the petitioner […]
The total number of companies registered in the country as on 31st December, 2020 stood at 2108614. Of them 753091 companies were closed. 2247 companies were assigned dormant status as per the Companies Act, 2013; 6841 were under liquidation; 39913 companies were in the process of being struck-off.
Introduction: Export and Import trade is regulated by Directorate General of Foreign Trade (DGFT), it is a body functioning under the Ministry of Commerce and Industry, Department of Commerce, Government of India. DGFT is the regulator, promotor and facilitator of Import and Export. DGFT implements the policies and procedure from time to time for Export […]
Addl. CIT Vs M/s. Rites Limited (ITAT Delhi) Perusal of the assessment orders goes to prove that AO has mechanically disallowed the claim of expenditure made by the assessee company towards Corporate Social Responsibility (CSR) and sustainable development without analyzing the fact that assessee company being a Government undertaking is required to incur such expenses […]
In re Tiruppur City Municipal Corporation (GST AAAR Tamilnadu) i. In respect of Q.No. 1, Sl. No. 5-B (Rent for locker provided in bus stand by the appellant) it is held to be an activity undertaken by the Municipality as a function entrusted under 243 W of the Constitution and the service of rent or […]
To give a fillip to insurance penetration and to facilitate innovations in the insurance sector, especially those triggered by technology the IRDAI notified the IRDAI (Regulatory Sandbox) Regulations, 2019 on 26th July, 2019. The Regulations are valid for a period of 2 years from the date of publication in the official gazette.
