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Archive: 27 May 2021

Posts in 27 May 2021

Onus on Revenue demonstrate that PE of A Foreign Enterprise Exists In India

May 27, 2021 954 Views 0 comment Print

International Air Transport Association (Canada) Vs ACIT (ITAT Mumbai) At this stage, we may herein observe that as in the present case before us, in the case of Delmas France (supra) also there was no finding of the lower authorities that the transactions between the principal and agent were done in arm’s length conditions. Under […]

No section 69A Unexplained Money addition for mere disclosure of Receipt in two different Accounts

May 27, 2021 3510 Views 0 comment Print

ACIT Vs Yashovardhan Tyagi (ITAT Delhi) he issue in the present ground is with respect to the addition of Rs.20,00,000/- made u/s 69A of the Act. AO made the addition u/s 69A of the Act and treated the amount of Rs.20,00,000/- from M/s. Eagle Home Entertainments Pvt. Ltd. to be as not recorded in the […]

NPS Functionalities released by CRAs during Quarter IV of FY 2020-21

May 27, 2021 489 Views 0 comment Print

Central Record Keeping Agencies (CRAs) have been appointed by PFRDA to provide system level functionalities as per the evolving needs of NPS stakeholders in accordance with Sec 21 of PFRDA Act 2013.

HC set aside assessment order passed without issuing SCN-cum-draft assessment order

May 27, 2021 2016 Views 0 comment Print

MS Lokesh Constructions P Ltd Vs ACIT (Delhi High Court) 1. It is required to be noted that initially, the petitioner had declared its income as ₹ 87,55,390/-; which was revised to ₹ 73,59,500/-. 2. Via the impugned assessment order dated 07.04.2021, an addition of ₹ 13,95,890/-, has been made to the declared income of […]

NCLAT SOP on Preventive Measures to Contain Spread of COVID-19

May 27, 2021 351 Views 0 comment Print

In view of alarming rise in the COVID-19 cases and considering SOP on Preventive Measures to Contain Spread of COVID-19 in Offices dated 4th June, 2020 and further directions issued by Ministry of Health and Family Welfare from time to time;

CBDT Date Extension Circular VS. Supreme Court Order

May 27, 2021 12174 Views 0 comment Print

Clarification regarding the limitation time for filing of appeals before the CIT(Appeals) under the Income-tax Act,1961 (the Act) Earlier CBDT issued a circular on dated 30th April 2021 regarding the various Extensions of timelines out of that items one item is regarding to extend the timelines for filing CIT appeals: They mentioned in Point no. […]

DoP release SoP for handling Claim related to Loss & Fraud

May 27, 2021 3081 Views 0 comment Print

Department of Posts Standard Operating Procedure (SoP) for handling of ‘Claim Cases’ arising out of loss and fraud cases and introduction of ‘Simplified Standardized Claim Form’.

Board Committees as per SEBI LODR Regulations, 2015

May 27, 2021 7008 Views 0 comment Print

In order to improve and strengthen the Corporate Governance structure of a Company, SEBI has mandated formation of few committees of the Board. These are Audit Committee, Nomination and Remuneration Committee, Stakeholder Relationship Committee and Risk Management Committee under Regulation 18, 19, 20 and 21 respectively of the SEBI (LODR) Regulations, 2015. SEBI has also […]

Some Facts Regarding FORM 3 of Limited Liability Partnership

May 27, 2021 10335 Views 5 comments Print

Purpose of Filing Form – 3 ↓ For Filing of Duly Executed LLP Agreement ↓ To the Registrar (ROC) Penalty of Non Filing of LLP Form – 3: In case LLP is not able to file the “LLP Agreement” in “Form-3” within 30 days of its Incorporation or any changes in agreement as the case […]

Delhi Epidemic Diseases (Mucormycosis) Regulations, 2021

May 27, 2021 714 Views 0 comment Print

Governor of NCT of Delhi is satisfied that the NCT of Delhi is threatened with the outbreak of dangerous epidemic disease, namely Mucormycosis, among immune-compromised patients, especially COVID-19 patients being treated with steroids and that the ordinary provisions of law for the time being in force are insufficient for the purpose.

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