In Executive Programme (Old Syllabus) examination 15.21 percent of candidates passed in Module – I and 21.28 percent in Module – II, while in Executive Programme (New Syllabus) examination 8.27 percent of candidates passed in Module – I and 15.49 percent in Module – II....

Petitioner could not furnish his reply as no date or time was indicated therein. As such, the cancellation of registration resulting from such an incomplete/deficient show-cause notice (SCN) also cannot be sustained being violative of principles of natural justice....

The Institute of Cost Accountants of India has compiled Various Upcoming Important Due Date which includes due dates of Annual – Updation of Udyam Registration, Updation of GSTN in Udyam Registration, Migration of UAM/EM Part-II to Udyam Registration, Annual Updation of Import Export Code (IEC), Opt in GST Composition Scheme, Linking of...

Balee Plastics Pvt. Ltd. Vs ITO (ITAT Mumbai) We find that on perusal of page 10 read with page 13 of the factual paper book filed by the assessee comprising of the profit and loss account for the year ended 31/03/2009 and the schedule for the other income thereon, the sum of Rs.3 Crores has […]...

CBDT further extends the date for filing of declarations under the Vivad Se Vishwas (VSV) Act, 2020 to 31st March, 2021. Notification no. 09/2021 in S.O. 964(E) dated 26/02/2021 issued. Date for payment without additional amount under VSV extended to 30th April, 2021. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TA...

Karan Sharma Vs ITO (ITAT Bangalore) The assessee has explained that Rs.92,54,462 is out of previous withdrawals and sale of garments and pleaded that it is to be excluded from the taxation. The assessee has not furnished any evidence to establish the nexus between the earlier withdrawals and deposits into various bank accounts. In such [...

The Finance Bill 2021 has proposed two major amendments in the Integrated Goods and Services Tax Act, 2017. Both the amendments relate to the provisions of section 16 of the IGST Act, 2017 concerning zero rated supply. The present article briefly explains the said amendments carried out vide Budget 2021. Amendments to the definition of [&...

MHA extends Guidelines for Surveillance, Containment and Caution States/ Union Territories to strictly enforce SOPs on various activities and to exercise caution and strict surveillance upto 31.03.2021....

Sakthi Textiles Ltd Vs DCIT (ITAT Chennai) Coming back to observations of the Assessing Officer regarding valuation report. The Assessing Officer never stated that assessee has not filed valuation report in support of fair market value of shares. In fact, Assessing Officer has categorically admitted that assessee has filed valuation repor...

Sandvik AB Vs DCIT (ITAT pune) We find that the assessee characterized the receipt of Training fee as a consideration for `managerial’ services within the overall ambit of Article 12 and the Revenue also accepted the same as falling under that Article but as `consultancy or technical’ service. We have held supra that the Training [&he...