"20 May 2021" Archive - Page 4

SEBI Consultation Paper on Merger of ILDS/NCRPS/NCS Regulations

Consultation Paper - Review and Merger of SEBI (Issue and listing of Debt Securities) Regulations, 2008 and SEBI (Issue and Listing of Non-Convertible Redeemable Preference Shares) Regulations, 2013 into SEBI (Issue and Listing of Non-Convertible Securities) Regulations, 2021...

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Posted Under: SEBI |

Section 194A TDS not applicable if amount was below threshold limit

ACIT Vs Singareni Colleries Company Ltd. (ITAT Hyderabad)

ACIT Vs Singareni Colleries Company Ltd. (ITAT Hyderabad) On careful reading of the Notes submitted by the assessee company it is clear that the assessee is providing interest at certain percentage and credited to the fund account. Further, he observed that it is also a fact that the insurance premium is paid out of interest […]...

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

Aurora Educational Society Vs PCIT (ITAT Hyderabad)

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....

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GST on Vaccine, Oxygen Concentrators & other allied items – An Analysis

The current situation from which we all are struggling and fighting day in and day out is to eliminate COVID-19 as soon as possible by undertaking vaccines as per the criteria’s set by Central Government regarding Age limits, and following COVID appropriate behavior in the form of wearing masks, sanitizing hands, and maintain sufficient...

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Posted Under: SEBI |

Central Finance Act, 2021 vis-a-vis Goods & Service Tax Acts

The Central Finance Act 2021 has been passed by both the houses of parliament and the President has given assent on 28.03.2021. It has made several amendments to the Central Goods & Services Tax Act, 2017 (CGST Act) followed by corresponding changes in the respective State Goods & Services Tax Acts, 2017 (SGST Acts) and […]...

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Posted Under: SEBI |

No revenue recognized despite having incurred a cost- ITAT remanded matter back to AO/TPO

SBI Business Process Management Services Pvt. Ltd. Vs DCIT (ITAT Delhi)

Since in the financial statement for the relevant year (F.Y. 11-12), the auditor had made a clear disclosure that no revenue had been recognized on account of services rendered to SBI despite having incurred a cost of Rs. 3.2 crore and moreover, as per the matching ‘principl...

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September 2021