CBDT specifies the sovereign wealth fund, namely, the Norfund, Government of Norway, as the specified person for the purposes of the said clause in respect of the investment made by it in India on or after the date of publication of this notification in the Official Gazette but on or before the 31st day of March, 2024
Nutech Engineering Technologies Ltd. Vs DCIT (ITAT Mumbai) We noted that the assessee has claimed depreciation on the property sold as Lunkard Sky Max of 17 units in AYs 2010-11 and 2011-12. But from AY 2012-13 i.e. Financial Year 2011-12 out of 17 units 7 units were given on rent and accordingly rental income was […]
Customs officers at the IGI Airport intercepted and arrested two individuals coming from abroad and seized 14 Kgs of a white substance prima facie confirmed found to be Heroin. Officers in Lucknow, in two different cases made at the Lucknow International Airport, seized gold weighing about 2.3 Kgs valued at Rs. 1.13 crore and 33 Gold Biscuits weighing 3.8 Kgs and valued at Rs. 1.89 crore.
Since the definition of Business Support Service was amended w.e.f. 01.05.2011 to include ‘operational or administrative assistance in any manner’ hence, the services in relation to operational and administrative assistance could only be taxed post the said amendment and not before that.
Shri D.S. Patil Vs PCIT (ITAT Banglore) Penalty u/ s. 271AAB can be levied in the hands of a searched person only. The assessee herein is not subjected to search, meaning thereby, penalty u/s. 271AAB cannot be levied in the hands of the assessee. Even though, the AO has not cited any reason for dropping […]
ACIT Vs M/s. Lifestyle International (P) Limited (ITAT Bangalore) The brief facts in relation to the above ground is that the assessee had imported certain trade merchandise from parties located outside Payments to such foreign vendors is required to be made in future on specified dates in foreign currency. The assessee had also obtained foreign […]
Explore the Patel Labour Contractor vs C.S.T. Service Tax case (CESTAT Ahmedabad) where legal nuances and interpretations led to a time-barred service tax demand. Understand key arguments and precedents.
Milestones Apr 2018 – Launch of EWB for Interstate Jun 2018 – Launch of EWB for Intrastate April 2019 Pin-pin distance calculation Dec 2019 Blocking of EWB for non-filers Dec 2019 100 Crore EWB generated Mar 2020 Integration with VAHAN system Apr 2020 Covid 19 Related Reports Oct 2020 Integration with e-Invoice System Jan 2021 […]
Electronic commerce is a business model that lets firms and individuals buy and sell things over the internet. E-commerce operates in all four of the following major market segments: Business to business Business to consumer Consumer to consumer Consumer to business Due to pandemic,E-commerce is playing a major role in delivering the goods and services to […]
The government has amended the insolvency law to incorporate a pre-packaged resolution mechanism for stressed MSMEs in order to have a faster and more value-maximizing outcome.
