"28 March 2021" Archive - Page 6

President Assents Finance Act 2021

No. 13 OF 2021 28/03/2021

The Finance Bill, 2021 was introduced in Lok Sabha on 01st February 2021 and passed by Lok Sabha on 23rd March 2021 with 127 new amendments in comparison to bill presented in Lok Sabha on 01st February 2021. Rajya Sabha returned the Finance Bill 2021 without any new amendment on 24th March 2021 which completes […]...

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ICSI extends Time for Obtaining Mandatory CPE Credits

Mandatory requirement of CPE Credits for the year commencing 1st April, 2020 to 31st March, 2021, Council of ICSI has extended the last date for obtaining the mandatory CPE credits by the members till June 30, 2021....

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Posted Under: Income Tax |

QR Code in GST

NN 89/2020 (CT) DT. 29.11.2020, waives the amount of penalty payable by any registered person for non-compliance of not mentioning the QR Code on invoices issued between the period from the 1st day of December, 2020 to the 31st day of March, 2021, subject to the condition that the said person complies with the provisions of the said notif...

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Posted Under: Income Tax |

Bombay HC stayed demand notice seeking Service Tax from Advocate

The Hon’ble Bombay High Court in Sanjiv Madhusudan Shah v. Assistant Commissioner of Central and Service Tax and ors. [Writ Petition (L) No. 646 of 2021 dated January 12, 2021] has stayed a demand notice issued, seeking to levy service tax upon an Advocate. Facts:- Sanjiv Madhusudan Shah (“the Petitioner”), who is an Advocate by [&h...

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Posted Under: Income Tax |

Reopening based on investigation wing info without independent application of mind by AO was invalid

R.S. Shares & Securities Ltd. Vs ITO (ITAT Delhi)

R.S. Shares & Securities Ltd. Vs ITO (ITAT Delhi) It is well settled law that validity of the reassessment proceedings is to be determined on the basis of the reasons recorded for reopening of the assessment. Copy of the same is filed at pages 2 to 4 of the Paper Book. The AO in the […]...

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HC remits order passed by Tribunal ex-parte without considering earlier order

Vodafone Idea Ltd. Vs Commercial Tax Tribunal (Allahabad High Court)

Vodafone Idea Ltd. Vs Commercial Tax Tribunal (Allahabad High Court) The ex-parte nature of the order apart, at present, it does stand out that the Tribunal has taken two divergent views in the case of the assessee itself, inasmuch as, in the earlier order, the Tribunal had clearly opined that the goods that have been […]...

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