DCIT Vs Genesis Colors Pvt. Ltd. (ITAT Delhi) During the assessment proceedings, the Assessing Officer treated the advance received u/s 2(22)(e) holding, -That GLFPL has granted loans of Rs. 15,00,00,000/- and Rs.5,00,00,000/- on 30.07.2011 to M/s Genesis Colours Pvt. Ltd. as per the related party transaction chart shown in Notes to accounts of the accounts […]
Amendment in Schedule ‘B’ of the Maharashtra Value Added Tax (MVAT) Act, 2002.(Tax rate of liquor)- Value Added Tax (VAT) on the sale of liquor as prescribed in Schedule-B of Value Added Tax Act is increased from the existing 60 percent to 65 percent vide Notification No. VAT-1521/C.R. 30/Taxation-1 dated 24th March 2021. FINANCE DEPARTMENT […]
Value Added Tax (VAT) on the sale of liquor as prescribed in Section 41(5) of Value Added Tax Act is increased from the existing 35 percent to 40 percent vide MVAT notification No. No. VAT-1521 / C.R. 30 (A) / Taxation-1 dated 24th March 2021.
The Institute of Chartered Accountants of India (ICAI) announced the dates for CA Intermediate and Final Exams. Firstly, the Intermediate (IPC) Course Examination beneath Old Scheme, Group-I exams will be held on 22nd, 24th, 27th & 29th May 2021, and Group-II exams will be held on 31st May 2021, 2nd & 4th June 2021. Secondly, […]
Overview:- In this article we shall discuss about FLA Return & Process of Filing it. FLA Return is a mandatory filling under FEMA 1999. Non-filing of the return before due date will be treated as a violation of FEMA and penalty clause may be invoked for violation of FEMA. We have come up with this […]
R. D Tata Trust Vs PCIT (ITAT Mumbai) We are of the considered view that the impugned order of cancellation of registration granted to the assessee under section 12A must be held to be effective from the date on which the hearing on first show-cause notice was concluded and the show cause notice issued by […]
After clearing your tenth, you have to ask yourself the questions that lie ahead to select a specific stream. The tilt towards science will result in choosing it. The selection of the other two, i.e., arts or commerce, comes suspended by the options students have after selecting a specific option. If you are looking forward […]
Process of Incorporation of Private Limited Company through SPICe+ and frequently asked questions (FAQ) on SPICe+ As part of Government of India’s Ease of Doing Business (EODB) initiatives, the Ministry of Corporate Affairs introduced a web based incorporation service called as SPICe+. SPICe+ is one stop solution for services offered by 3 (three) Central Government […]
Commissioner of Customs Vs Kamdar Global Solutions Pvt. Ltd. (CESTAT Chennai) It is noted that the goods were specifically imported for meeting the requirements during the pandemic. Drones were intended to be used for monitoring the public as to whether there is violation of the restrictions for travel and gathering of people. It is also […]
Commissioner of Commercial Taxes & Anr. Vs Ramco Cements Ltd.Etc. (Supreme Court of India) 1. It is held that the respondents are liable to issue `C’ Forms in respect of the natural gas purchased by the petitioner from the Oil Companies in Gujarat and used in the generation or distribution of electricity at its power […]
