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Archive: March, 2021

Posts in March, 2021

CESTAT upheld reasonable penalties imposed for mis-declaration on Importer

March 4, 2021 3201 Views 0 comment Print

Aestrik Techno-Signs Vs The Commissioner of Customs (CESTAT Delhi) The goods were imported declaring a certain value which was doubted by the officers and so the goods were opened and examined. After opening and examining and comparing the goods with the value of corresponding goods in contemporaneous imports the officer founds that the goods were […]

Wet-leasing classifiable under SAC 9973 Leasing or rental services with or without operator

March 4, 2021 4860 Views 0 comment Print

The activity of wet-leasing is squarely classifiable under SAC 9973 Leasing or rental services with or without operator as held by the LA and we uphold the same. Therefore the benefit of entry at 3(v)(a) of Notification No. 11/2017-C.T.(Rate) dated 28.06.2017 is not applicable in respect of Wet-Leasing of the M&Ps.

क्‍या ज्‍यादा टैक्‍स देते हैं? ये 5 उपाय करेंगे आपकी मदद

March 4, 2021 2658 Views 1 comment Print

 टैक्‍स देनदारी घटाने में करते हैं मदद आयकर कानून के तहत कई तरह के टैक्‍स बेनिफिट उपलब्‍ध हैं. ये आपकी टैक्‍स देनदारी घटाने में मदद करते हैं. कोई भी इनका फायदा उठा सकता है. आइए, यहां इनके बारे में जानते हैं. 1. एग्‍जेम्‍पशन इसका मतलब वैसे खर्च, इनकम या निवेश से है, जिन पर टैक्स […]

CVD/anti-subsidy duty rate for ‘Shandong Haohua Tire Co. Ltd.’- Reg.

March 4, 2021 690 Views 0 comment Print

Termination of New Shipper Review investigation for determination of individual countervailing/ anti-subsidy duty rate for M/s. Shandong Haohua Tire Co., Ltd., China PR (Producer) in the case of Anti-Subsidy duties imposed on New/Unused pneumatic radial tyres with or without tubes and/or flap of rubber (including tubeless tyres), having nominal rim dia code above 16″ used in buses and lorries/trucks, originating in or exported from China PR.

FSS (Food Products Standards and Food Additives) First Amendment Regulations, 2021

March 4, 2021 9841 Views 1 comment Print

1. (1) These regulations may be called the Food Safety and Standards (Food Products Standards and Food Additives) First Amendment Regulations, 2021. (2) They shall come into force on the date of their publication in the Official Gazette and food business operator shall comply with all the provisions of these regulations with effect from 1st day of the January, 2022.

ITAT recalled its order for failure to take into account document submitted

March 4, 2021 966 Views 0 comment Print

Paresh V. Shah Vs DCIT (ITAT Mumbai) I find that by way of this miscellaneous application it is the contention of the learned counsel of the assessee that the ITAT has felt into apparent error while upholding the disallowance of commission payment by not taking into account the document which were submitted. It is the […]

Addition for unexplained cash deposit by CIT(A) justified -ITAT Delhi

March 4, 2021 4141 Views 0 comment Print

Shri Praveen Garg Vs ITO  (ITAT Delhi) There is no dispute with regard to the legal proposition that the First Appellate Authority cannot consider new source of income. However, in the present case the A.O. reopened the assessment because it was found that there were cash deposits in several Bank accounts of the assessee which […]

Guidance Note on Local Content in Manufacturing, Production & Supply of Goods and Services

March 4, 2021 7080 Views 0 comment Print

Technical Cell of the Institute has developed this Guidance Note to help the members in assessing the facts and circumstances involved in each particular case of providing certification for local / indigenous content in the manufacturing/production of goods & services, at various stages of bidding and supply.

7 Key Considerations of Auditing a Compliance Based Ethics Program

March 4, 2021 4401 Views 2 comments Print

Ethical and Compliance failure cases reported in the year 2020 have only one common element: all those companies lacked a robust Compliance Based Ethical Culture in their organizations. It has become a pressing priority to safeguard the environment and smooth governance across the organizations. The media’s international presence is so quick and transparent that customers […]

IBBI (Liquidation Process) (Amendment) Regulations, 2021

March 4, 2021 1125 Views 0 comment Print

1. (1) These Regulations may be called the Insolvency and Bankruptcy Board of India (Liquidation Process) (Amendment) Regulations, 2021. (2) They shall come into force on the date of their publication in the Official Gazette.

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