Through the coordinated efforts of Government, Private Institutions, Civil Society, NGOs and Private Citizens overcame the health crisis caused by second wave of Covid-19 pandemic. More than 100 donors across India made donations of equipment/kits/disposables etc. to ESIC Hospitals amounting to the sum of Rs.13 Crore.
With the globalization of businesses being on the rise, there has been an equivalent rise in the complexity of transactions. The management for the smooth conduct of their business receives various goods and services from different suppliers. However, suppliers, sometimes for the sake of convenience, provide additional goods and services to their intended customers/ recipients […]
M/s. Vijaya Bank Employees Housing Co-operative Society Ltd. Vs ACIT (ITAT Bangalore) Conclusion: In present facts of the case it was observed by the Hon’ble Bench that where a deduction is necessary in order to ascertain the profits and gains, such deductions should be allowed. Profits should be computed after deducting the expenses incurred for […]
RMS will process the shipping bill data after the Export General Manifest (EGM) is filed electronically and will provide required output to ICES for selection of shipping bills for risk-based processing of duty drawback claims.
(A) Annual Compliances Checklist to be done by an NBFC (Non-taking Public Deposit) Asset Size – Below Rs. 100 Crores Return Name Return Overview Frequency Who will Submit Timeline for submission of Return DNBS 02 Important Financial Parameters Annual NBFC 60 Days DNBS 10 Statutory Auditor Certificate Annual Statutory Auditor One month from the date […]
Addl. CIT Vs Gillette Diversified Operations Pvt. Ltd. (ITAT Delhi) Section 32 requires that the assessee must use the asset for the ‘purposes of business’. It does not mandate usage of the asset by the assessee itself. As long as the asset is utilized for the purpose of business of the assessee, the requirement of […]
Explore Angallamman Knit Fabrics vs Commissioner of Customs case. CESTAT Chennai sets aside confiscation of export goods and penalties. Full judgment here.
Petro Carbon & Chemicals Private Limited Vs Commissioner of CGST & CX (CESTAT Kolkata) The short issue that arises for consideration in the instant appeal is whether the Appellant is entitled to Cenvat credit of Service Tax paid by it on the freight component in relation to transport of goods from non-taxable territory to India […]
No addition could be made under section 69B because the two pieces of evidence relied on by Revenue Authorities viz., the data retrieved from the Pen-drive and the admission by the vendors of the property though might have a persuasive value but would not have much substantive evidentiary value in order to make additions in the hands of the assessee.
Since the findings recorded by ITAT being findings of fact, the appeal could not be entertained in absence of any substantial question of law being involved in the same, therefore, appeal of authority was dismissed.
