Join our webinar on Faceless Tax Assessments under the Income Tax Act, 1961. Learn concepts, challenges, and solutions from expert CA Hari Agarwal, FCA.
M/s. BAPL Industries Limited Vs Union of India (Madras High Court) HC directed to adjudicate matter before Tribunal as it involved adjudication on technical points w.r.t. business transactions In M/s BAPL Industries Limited v. Union of India [W.P. 27387/2011 and MP No. 1/2011 & 1/2013 decided on July 14, 2021], M/s BAPL Industries Limited (Petitioner), […]
Is the Common Income Tax Portal Becoming Uncommon Part I has generated more than 525 shares and more than 60 comments across the nation evidencing the common problems faced with the new portal. Should we resort back to the old portal ? Why was the need of switching to the new 2.0 portal ? Whether […]
Reversal of ITC under Section 17(5)(h) of CGST Act in case of loss of input which is inherent to manufacturing loss is misconceived, as such loss is not contemplated or covered by situations adumbrated under Section 17(5)(h) of the CGST Act.
DCIT Vs Hurkisondas Nurrotumdas Hospital & Research Centre (ITAT Mumbai) Going by the factual matrix as enumerated in the preceding paragraphs, it could be noted that the terms of arrangement with consultant Doctors was different from employee-doctors. The consultant doctors were paid based on the services rendered by them and on the basis of doctors’ […]
Prior to the amendment, an individual, being a person of Indian origin and who came on a visit to India during the previous year was considered as a resident in India only if his period of stay during the relevant previous year was 182 days or more (second basic condition was not required to be […]
Impact of Moratorium under section 14 of Insolvency and Bankruptcy Code, 2016 on Income Tax Proceeding It has become standard procedure for the Resolution Professional, appointed by the order of the National Company Law Tribunal (NCLT) writes a letter to the Assessing Officer of the Corporate Debtor attaching a copy of the order passed by […]
Machine learning (ML) is the study of computer algorithms that improve automatically through experience and by the use of data. 1. It is seen as a part of artificial intelligence. Machine learning algorithms build a model based on sample data, known as training data, in order to make predictions or decisions without being explicitly programmed to do so.
The Indian Customs is continuously monitoring the import clearances of edible oils in co-ordination with Food Safety and Standards Authority of India (FSSAI). It is seen that the import clearance time for edible oil has come down significantly to approx. 3-4 days at present which is the usual time taken for sampling, duty payment and logistics.
Applicability- GST Audit will apply every year for those GST registered business (GSTIN) having turnover more than Rest 2 crores, by the sale of goods or services in the financial year. Please note- For businesses with an annual turnover of less than Rs.5 crore, filing of GSTR-9C for FY 2018-19 and FY 2019-20 has been waived […]
What is a ‘Precedent’ in the eyes of law? Which ‘Precedent’ should be followed or what it means to follow a precedent? As to whether each and every judgment delivered by the Courts binding or not as a ‘Precedent’ as one gets easily lost in the maze of case law, while Article 141 of the […]
