Pooja Marketing Vs. Pr. CIT (ITAT Mumbai) In the present case before us, the assessee had offered its entire income including income by way of winnings from lotteries on unsold lottery tickets, as income chargeable under the head ―Profits and gains of business or profession“. However, the ld PCIT had sought to treat the income […]
The insurance intermediaries engaged in solicitation and distribution of insurance products, viz., Insurance Brokers, Corporate Agents, Insurance Web Aggregators, Insurance Marketing Firms are required to take Professional Indemnity Insurance Policies in order to get themselves indemnified from the claims lodged against them, arising out of the contingencies mentioned in the regulations governing them.
K.P. Varghese Vs. ITO (Supreme Court of India); 1981 AIR 1922, 1982 SCR (1) 629; 04/09/1981 Relevant portion of the judgment of Honorable Supreme Court of India is reproduced below : Now it is true that the speeches made by the Members of the Legislature on the floor of the House when a Bill for […]
The assessee who wish to exercise option for withdrawal application filed u/s 245C and such application is pending, shall first provide the basic details in following format on the form placed at www.nic.in:
As you are aware presently, the country is reeling under severe stress due to Covid-19 pandemic. It has impacted lives and livelihoods of the people of the country. When a person or a relative of a person gets infected with Covid-19 lot of medical expenditure is incurred in the treatment of the patient in case he/she gets hospitalized
ACIT Vs. K. S. Chawla & Sons (HUF) (ITAT Delhi) > HELD THAT:- In the present assessee’s case, search & seizure action u/s 132 of the Act was carried out on 15.10.2009 in the premises of Mr. Abhinav Arora and Mrs. Ranju Arora. Consequently, the Assessing Officer initiated reassessment proceedings u/s 147 of the Act […]
Customs (Import of Goods at Concessional Rate of Duty) Amendment Rules, 2021 were notified vide Notification No. 09/2021-Customs (N.T.), dated 01.02.2021. For ease of understanding the broad modalities of its operationalisation, the Customs wing of CBIC has issued a detailed circular No.10/2021 -Cus dated 17.05.2021.
Proper officer is required to issue order in FORM GST REG-19 in respect of the application for cancellation of registration filed by the taxpayer within a period of thirty days from the date of the application submitted by the taxpayer and direct him to pay arrears of any tax, interest or penalty including the amount […]
Ganpati Zilla Krishi Audyogik Sar Seva Sahakari Society Ltd. Vs ITO (ITAT Pune) The contention of Ld. AR that a Review petition has been filed before the Hon’ble Supreme Court against the judgment in the case of CIT Vs Tasgaon SSK Ltd. (2019) 412 ITR 420 (SC) which is still pending and hence the decision […]
In this article, we shall study about the provisions of declaration of divided applicable on the Nidhi Company as explicitly mentioned in the Nidhi Rules.
