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Archive: July, 2021

Posts in July, 2021

Tariff Notification No. 60/2021-Customs (N.T.) Dated: 15th July, 2021

July 15, 2021 2724 Views 0 comment Print

Tariff Notification No. 60/2021-Customs (N.T.) Dated: 15th July, 2021 in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver Ministry Of Finance (Department of Revenue) (Central Board of Indirect Taxes and Customs) New Delhi Notification No. 60/2021-Customs (N.T.) | Dated: 15th July, 2021 S.O. 2845(E).—In exercise of the […]

CBIC Notifies Rate of Exchange of Foreign Currencies wef 16.07.2021

July 15, 2021 2616 Views 0 comment Print

CBIC notifies Rate of Exchange of Foreign Currencies against Indian Rupees with effect from 16th July, 2021, vide Notification No. 59/2021 – Customs (N.T.) | Dated: 15th July, 2021 Government Of India Ministry Of Finance (Department Of Revenue) (Central Board Of Indirect Taxes And Customs) New Delhi ***** Notification No. 59/2021 – Customs (N.T.) | […]

GST Department Stepping up the Heat on Assesses

July 15, 2021 33441 Views 2 comments Print

COVID pandemic subsiding and GST Department Stepping up the Heat on the Assesses With COVID pandemic subsiding, the activities of GST department with regard to the scrutiny of the data filed for the year 2017-18 have increased. The GST assessees are getting communications from the GST department along with system generated excel files showing various […]

ICSI Advisory on Formation of Multidisciplinary Firms

July 15, 2021 3582 Views 0 comment Print

ICSI Members are hereby advised to enter into such partnership with the Members of the other professional bodies only after the appropriate guidelines for the formation of such Multidisciplinary firms are notified by your esteemed Institute.

Shocking! Income Tax CPIO not maintains details of ITR Filed

July 15, 2021 34494 Views 11 comments Print

Recently CA Pallaav Parashar has filed an RTI application with Income Tax Department and asked  data of total income tax returns filed between 07th June, 2021 to 21st June, 2021 on new E-filing portal including daywise details of ITR Filed. In response it was replied that that no such data is being maintained and it […]

Facility of DPD to FCL consignments under Advance filed Bills of Entry

July 15, 2021 2920 Views 0 comment Print

Enhancing Direct Port Delivery (DPD) by general in principle granting of the facility of DPD to the FCL consignments under Advance filed Bills of Entry which are fully facilitated (do not require assessment and/or examination).

ITAT deletes Section 68 addition for violation of principles of natural justice

July 15, 2021 3853 Views 0 comment Print

ACIT Vs M/s Sur Buildcon Pvt. Ltd. (ITAT Delhi) LANDMARK ORDER – Bhushan group companies get big relief by ITAT DELHI – First Of This Kind Where Addition under section 68 Quashed on Sole Ground of Violation of Natural Justice. – No Second Innings Given. Addition under section 68 deleted of Rs.36.50 Crore in three […]

AIR information of cash deposit with Bank – Section 147 Notice reply

July 15, 2021 18717 Views 0 comment Print

Applicability of Section 147 read with explanation 2(b) on the basis of AIR information regarding cash deposit with the Bank. Written Submission before the Hon’bleCIT(A), Faceless in respect of Sh. XXXXXXXXXXXXXX for the A.Y. 2012-13 [XXXXXXXXXXXXX] Appeal filed against the order of assessment u/s 144 made by ITO, Ward No. 2 (5), XXXXXXXXXXX dated 30.11.2019 […]

HC directed to adjudicate matter before Tribunal as it involved adjudication on technical points w.r.t. business transactions

July 14, 2021 1116 Views 0 comment Print

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 II

July 14, 2021 17739 Views 57 comments Print

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 […]

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