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Archive: April, 2021

Posts in April, 2021

Union Government takes Steps to boost supply of Oxygen to Hospitals

April 20, 2021 582 Views 0 comment Print

Ministry of Health and Family Welfare Union Government takes Steps to boost supply of Oxygen to Hospitals Industrial Oxygen limited to 9 Industries Special ‘Oxygen Express’ Trains to run through Green Corridors for Transport of Liquid Medical Oxygen Posted On: 18 APR 2021 The country has been facing an unprecedented surge in the new daily […]

In absence of jurisdiction CIT cannot withdraw Section 10(23C)(vi) exemption

April 20, 2021 1716 Views 0 comment Print

CIT had erred in law and as on facts in withdrawing assessee’s approval granted u/s.10(23C)(vi) as the impugned entire exercise to withdraw assessee’s approval suffered from inherent lack of jurisdiction.

Period from 15.03.2020 to 14.03.2021 liable to be excluded from limitation period

April 20, 2021 2586 Views 0 comment Print

Sree Sai Lakshmi Padmavati Dal Mills Vs Commercial Tax Office (Andhra Pradesh HC) FULL TEXT OF THE JUDGMENT/ORDER of ANDHRA PRADESH HIGH COURT In the present Writ Petition, challenge is to the order of assessment bearing A.O. No.206662 dated 31.03.2020 passed by the Commercial Tax Officer, Tenali, 1st respondent herein. 2. Heard Sri Srinivasa Rao […]

Order refusing to entertain appeal cannot be treated as order on merits

April 20, 2021 798 Views 0 comment Print

Guduru Chandra Sekhar Vs Union of India (Andhra Pradesh High Court) In the instant case, though the petitioner herein initially filed appeal on 17.08.2020, before the Commissioner Of Customs and Central Tax (Appeals), it is clear from Form-CAI that the appellant undertook to pay the mandatory pre-deposit of 7.5% of the disputed amount but did […]

Repayment of Loans Mitigates Invocation of Section 68 When Genuineness Proved

April 19, 2021 4167 Views 0 comment Print

Shree Samruddhi Overseas Trading Co. Vs DCIT (ITAT Ahmedabad) It is submitted on behalf of the assessee that the assessee had taken a temporary loan of Rs.8 Lakhs and Rs.2 Lakhs aggregating Rs.10,00,000/- in the month of June 2012 from Shri Rakesh Vallabhbhai Swadia. The loan so obtained was also repaid in the month of […]

Have You Missed Action on Intimation Notice Received – E- Campaign?

April 19, 2021 37692 Views 36 comments Print

Missed the response to the Income Tax Departments notice for your filed ITR? Learn about the consequences and actions you can take to resolve the issue.

CARO 2020 – Unfold Practical Aspects

April 19, 2021 5604 Views 1 comment Print

UNFOLD CARO 2020, COMPANIES ACT, 2013 PART 1 – CLAUSES 3(i) to 3(iii) {As empowered to the Central Govt. under Section 143(11) of Companies Act, 2013 with the consultation “National Financial Reporting Authority” (NFAR)} When I started my career as ‘Practicing Chartered Accountant’ then reporting under Companies (Auditor’s Report) Order, 1988 was applicable then I […]

Shri Piyush Goyal launches Startup India Seed Fund Scheme

April 19, 2021 777 Views 0 comment Print

Minister says the Startup India Seed Fund Scheme will Secure seed funding, Inspire innovation, Support transformative ideas, Facilitate implementation, and Start startup revolution;

COVID vaccination for everyone above the age of 18 wef 01.05.2021

April 19, 2021 4902 Views 0 comment Print

Everyone above the age of 18 to be eligible to get vaccine against Covid-19. Vaccine manufacturers incentivized to further scale up their production, as well as attract new national and international players. Vaccine manufacturers empowered to release up to 50% of their supply to State Govts. and in the open market at a pre-declared price

Report Major/Important cases on Daily Basis: CBIC instruct Officers

April 19, 2021 843 Views 0 comment Print

Customs field formations regularly make seizure/ commercial fraud cases. These cases are later on reported on a periodic basis on the DDM portal, though at times with delay and also informed through UO notes in important cases. Many of the cases made by the DRI/ Customs involve not only big seizures of prohibited goods or commercial frauds but at times assume larger importance due to involvement of foreign nationals, prominent persons, leading business houses or any other sensitive issue.

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