"03 August 2021" Archive

Members of Profession are soft target of GST Department

Faridabad Branch of NIRC of ICAI has made a representation to The Commissioner CGST, Faridabad  and brought to his attention that Members of Profession are the soft target of the GST Department, Revenge Taking Attitude of GST officers and Disgraceful attitude and disrespect for Profession and Professional Issues. Full text of their repre...

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ITC fraud of more than Rs 31,000 crore busted in FY 2020-21

CGST authorities bust input tax credit fraud of more than Rs 31,000 crore involving more than 7,200 cases in FY 2020-21 The Goods and Services Tax authorities have unearthed over Rs 31,000 crore of tax fraud committed by misuse of input tax credit (ITC) provision under the Goods and Services Tax (GST) regime during the […]...

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GST authorities recovers more than Rs 1,900 crore in tax evasion in FY 2021-22

The interface for the taxpayers is on a digital platform and software-based, to be used for payment of tax and to comply with the requirements of law and procedure by taxpayers. This was stated by Union Minister of State for Finance Shri Pankaj Chaudhary in a written reply to a question in Rajya Sabha today....

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Trust registration Cancellation justified if Trust receives Bogus Donations: SC

CIT (Exemptions) Vs Batanagar Education And Research Trust (Supreme Court of India)

CIT (Exemptions) Vs Batanagar Education And Research Trust (Supreme Court of India) Supreme Court Orders Cancellation of Registration in Case of Misuse of Status Conferred under Section 12AA and 80G In this case donations were received by way of cheques out of which substantial money was ploughed back or returned to the donors in cash. [&...

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12,889 shell companies struck off in FY 2020-21

There is no definition of the term ‘Shell Company’ in the Companies Act. It normally refers to a company without active business operation or significant assets, which in some cases are used for illegal purpose such as tax evasion, money laundering, obscuring ownership, benami properties etc. This was stated by Union Minister ...

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Disqualified directors of defaulting companies permitted for new appointment and reactivation of DSC/DIN

HC set aside disqualification of the directors of the defaulting Company and provided an opportunity to the disqualified directors of the struck off Company under Companies Fresh Start Scheme, 2020 (Scheme) to be appointed as directors of other/new companies, provided the directors have gone a substantial period of their disqualification....

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Granted bail on medical grounds to a person accused of misusing public funds & reinvesting the same in other businesses

Sri Nanjundaiah Vs Union of India (Karnataka High Court)

Sri Nanjundaiah Vs Union of India (Karnataka High Court) Sri Nanjundaiah (Petitioner), the founder of Kanva Souhardha Co-operative Credit Limited (Society) has filed the Bail Application in Special Criminal Case No.846/2020 registered by the Directorate of Enforcement (Respondent) for the offence punishable under Section 4 of the Preventi...

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HC Accepted Department’s apology & recalled CBI inquiry over automated mail

Three C Homes Pvt. Ltd. Vs. ACIT (Delhi High Court)

Three C Homes Pvt. Ltd. Vs. ACIT (Delhi High Court) Assistant Commissioner of Income Tax (Respondent) filed an application for modification/ recall of the order dated July 16, 2021 (Impugned Order), passed in W.P. (C) No. 5912/2021 dated July 16, 2021, directing Central Bureau of Investigation (CBI) to enquiry on doubtful Income Tax Depar...

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Everything about APEDA (RCMC) Registration in India

APEDA (RCMC) Registration- Meaning, Benefits, Process Documents Required etc for APEDA License Agricultural & Processed Food Products Export Development Authority (APEDA) is a government organization that was established to develop and promote the export of scheduled products. APEDA is an authority that provides financial assistance, ...

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HC quashes Assessment order passed for not granting personal hearing despite request

RKKR Foundation Vs National Faceless Assessment Centre Delhi (Delhi High Court)

RKKR Foundation Vs National Faceless Assessment Centre Delhi (Delhi High Court) According to us, what has emerged clearly is that, a request for accommodation was made by the petitioner on 27.04.2021, wherein a reference was made to the CBDT circular dated 24.04.2021, whereby, the limitation for passing the assessment order had been exten...

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