Building Committee (Society) Barnala Vs CIT (Exemption) (ITAT Chandigarh) It is pertinent to observe that the ld.CIT(E) failed to comprehend the role of Bar Association in judicial dispensation. He construed the existence of the assessee-society in a very narrow manner, as if it is a group of some professionals who are working for their i...

WHETHER LOOSE SHEETS FOUND IN SEARCH WITH THIRD PARTY WILL CONSIDERED AS BOOKS OF ACCOUNTS. Dear friends, we know that where any sum is found credited in the books of an assessee, maintained for any previous year and the assessee offers no explanation about the nature and source thereof or the explanation offered by him […]...

1) Mandatory Registration of NGO’s with MCA for raising CSR Funds. (a) Every entity, covered under sub-rule (1) of Rule 4 of Companies (Corporate Social Responsibility Policy) Amendment Rules, 2021, who intends to undertake any CSR activity, shall register itself with the Central Government by filing the form CSR-1 electronically with t...

This article deals with the concept of Input Tax Credit (ITC) under GST. What is Input tax Credit, how it can be claimed, what is the maximum time limit and other related questions regarding ITC has been answered. I have tried to explain the concept in simple language for better understanding. Q1- What is Input […]...

While appreciating the Govt for taking concrete steps to ensure availability of Remedesivir earlier & now AmphotericinB for treatment of Black Fungus, we also urge Shri  Mansukh Mandaviya to negotiate with pharma companies to bring down the cost of the drug as it’s too expensive. Confederation of All India Traders Ref. No.: 3219/1/...

Based on the exclusive revelation by Reuters, Confederation of All India Traders (CAIT) has taken strong exception & condemned global giant Amazon & U.S. Embassy India for their uncalled & disrespectful remarks made against Minister of Commerce and Industry Shri Piyush Goyal in an email sent to Mr John Kerry,  PMO India an...

The Government of India has strongly condemned the false reporting in certain media by some vested interests claiming that the Government of India has purportedly asked state-owned banks to withdraw funds from foreign currency accounts abroad in anticipation of the potential seizure of such accounts with regard to the Cairn legal dispute....

The Food Processing Industry (FPI) is of enormous significance as it provides vital linkages and synergies that it promotes between the two pillars of the economy, i.e. agriculture and industry. India is the world’s second largest producer of fruits & vegetables after China but hardly 2% of the produce is processed. The Food Ind...

As I already stated in my introductory part of this topic, any process will be parted into static and strategic meaning thereby one which is in as it is form and the other requires professional skepticism. Above that, static facts w.r.t. terminologies are also tuned here. Let us sail beyond statutory sections sight u/s 134, […]...

SEBI since its inception till now has completed an eventful journey as a capital markets regulator and has tried to create a market infrastructure which is far better than many of the countries. No doubt that the markets earlier were restricted to few hands, entities and intermediaries, but now there has been a quantum jump […]...