D.S. Cargo Agency Vs Commissioner of Customs (CESTAT Delhi) No doubt, there is no document on record as provided by the Department, burden to prove otherwise rests upon the Department but it is settled principle of law that the appellants admission are the best proof which need no further proof. Hence, the burden need not […]
CBDT issues Notification no. 19/2021 dated 26/03/2021 pertaining to procedure for registration of fund/ trust/charitable institutions etc. All institutions, funds etc covered under clause (i) and (iv) of first proviso to section 10(23C), fifth proviso to section 35(1), clause (i) and (iv) of first proviso to section 80G(5) and sub-clause (i) and (vi) of section […]
WHAT IS FSSAI? Food Safety and Standards Authority of India (FSSAI) is a self-governing organization established under the Ministry of Health & Family Welfare, Government of India which works for the food safety and regulations in India. FSSAI was formed under the Food Safety and Standards Act, 2006. FSSAI issues food licenses to food business […]
SEBI has been receiving registration applications pursuant to transfer of business (SEBI regulated business activity) from one legal entity which is a SEBI registered Intermediary (transferor) to other legal entity (transferee). In this regard, following is clarified:
Money is essential; it is that much significant that most people end up living their lives, earning it only. However, the history of money doesn’t date back long. For comparison, if the whole Homo sapiens history would convert to 24 hours, money would have existed for the last 18 minutes only. The internet and press […]
In the wave of several reforms presented by the govt for the promotion of ‘Ease of Doing Business’ in India, one landmark development within the dynamic world of insolvency and bankruptcy was the introduction of the ‘Insolvency and Bankruptcy Code, 2016’ (‘IBC’ or ‘Code’). Before the enactment of IBC, the insolvency resolution process in India […]
Internal Audit after Pandemic – Change in approach, technique and expectation from Internal audit As conglomerates make substantial demands on internal auditors to help them deal with the several issues that arise as a result of the COVID-19 crisis, internal auditors must keep up. They may also get dragged into additional roles that may test […]
In view of the emerging scientific evidence, the interval between two doses of a specific COVID-19 vaccine i.e. COVISHIELD, has been revisited by National Technical Advisory Group on Immunization (NTAGI) and subsequently by National Expert Group on Vaccine Administration for COVID-19 (NEGVAC) in its 20th meeting.
Attention of all Port Terminals, Shipping lines, Shipping Agents, Transhippers, Custodians, Freight forwarders, Customs Brokers, Importers, Exporters, and other stakeholders is invited to Sea Cargo Manifest and Transhipment Regulations (hereinafter referred to as SCMTR) notified through Board Notification No 38/2018-Customs dated 11.05.2018 as amended through Notification No 54/2019-Customs dated 01.08.2019, Notification No. 78/2019-Customs dated 31.10.2019 and Notification No.94/2020- Customs dated 30.09.2020. Attention is also invited to JNCH Public Notice No. 16/2021 dated 12.02.2021
Sales Tax subsidy received for expansion of assessee’s existing industry was capital in nature as the purpose of the same was for the expansion of the existing industry of assessee. Moreover, the amounts which were not taxable in the normal computation could not be included while computing the book profit because such amounts did not really reflect a receipt in the nature of income and could not form part of the book profit.
