In the absence of the notice under section 143(2), assessment framed by AO was liable to be quashed as invalid also when Pr. CIT has granted approval under section 151 in a mechanical manner by putting only ‘Yes’ which was not valid for initiating reassessment proceedings.
CBIC notifies Rate of Exchange of Foreign Currencies against India Rupees wef 8th January, 2021, vide Notification No. 03/2021-Customs (N.T.), Dated: 7th January, 2021. GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) (CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS) ***** Notification No. 03/2021 – Customs (N.T.) New Delhi, dated the 7th January, 2021 17 […]
DGGI V. Sriram Venkataraman (Patiala House Court) Elaborate arguments have been addressed on behalf of the department and the applicant. The sumnum bonum of the arguments is that the applicant pleads that M/s Instakart Services Private Limited was itself duped by M/s MFPL and M/s STMPL whereas the Ld. Spl. PP claims that both the […]
Import policy of some items classified under Chapter 41 and 43 of ITC (HS), 2017, Schedule – I (Import Policy) is amended from ‘prohibited’ to ‘free’ and new policy conditions added to Chapter 41 and 43.
As we know that Exports play a major role in the economic development of a country. More the exports more will be the inward foreign remittance, more jobs & employment, lower current account deficit, and hence greater overall economic growth. Therefore, India needs to increase its export performance and grow worldwide. The Government of India first time introduced […]
It has come to the notice of the Institute that some individuals and CMA groups have been circulating false propaganda containing false and fake documents in social media to create an impression in the minds of the students, members and public at large that there are malpractices going on in the conduct of Institute’s online examinations of Intermediate and Final and that the examinations are likely to be cancelled.
TDS under section 194H was not required to be deducted on discount allowed to distributors on sale of Set Top Box and hardware, recharge coupons vouchers because transaction between assessee company and distributor was on principal-to-principal basis and all the risk, loss, damages were transferred to distributor on delivery and it was a sale but not service to come within the ambit of definition of commission as defined under section 194H.
Case No. ADD-OI-32/2019 Anti-dumping investigation concerning imports of Ciprofloxacin Hydrochloride originating in or exported from China PR.
Final Findings in the Second Sunset Review of Anti-Dumping investigation concerning imports of Nonyl Phenol originating in or exported from Chinese Taipei – CESTAT Remand Case.
Confederation of All India Traders (CAIT) has said in a press release that Much against the declared spirit of GST as Good & Simple Tax, the GST has become a ‘colonial taxation system” quite away from the ground realities of business conducted in India. Full Text of Its Press Release is as follows:- 04th January, […]
