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Archive: 11 September 2021

Posts in 11 September 2021

Appointment to posts of Judicial and Technical Members in NCLT

September 11, 2021 1422 Views 0 comment Print

The Appointments Committee of the Cabinet has approved the proposal for appointment of the following persons to the posts of Judicial Member and Technical Member in the National Company Law Tribunal, in the pay scale of Rs.67,000-79,000/- (pre-revised), for a period of 05 years from the date of assumption of charge of the post, or till attaining the age of 65 years, or until further orders, whichever is the earliest

कराधान प्रणाली हो सुविधाजनक और आसान, तभी करदाता के लिए अनुपालन संभव

September 11, 2021 2787 Views 0 comment Print

माननीय उच्च न्यायालय की न्यायमूर्ति संजय कौल और न्यायमूर्ति ऋषिकेश राय की पीठ ने 09/09/2021 को एक अहम फैसले में यह बात कही जो सरकार को सोचने पर विवश करती है कि कराधान प्रणाली में व्याप्त खामियों को दूर करना क्यों जरुरी है.  सिविल अपील क्र 9606 आफ 2011 और इससे संबंधित 32761 आफ 2018 […]

ITAT deletes addition of Gift received by Actor Kushal Tandon from his Father

September 11, 2021 1674 Views 0 comment Print

As both the financial statement of Shri. Virendra Tandon (Father) for the Assessment Year 2014-15, as well as his admission in the ‘gift deed’, dated July 21, 2013 along with a mention of the source of the gift transaction in question, that is, accumulated savings of the past, as were filed by the assesse with the A.O in the course of the assessment proceedings, therein, clearly sufficed to discharge the primary onus that was cast upon him to prove the ‘nature’ and ‘source’ of the cash credit in his books of accounts. Hence, the ITAT deletes addition of Rupees. 30 Lacs received by Actor Kushal Tandon as a gift from his Father.

No Penalty on grounds of being contrary to Principles of Natural Justice

September 11, 2021 1215 Views 0 comment Print

Appellant contended that he had obtained the authorization required in Regulation 11 (a) of the CBLR, 2013 but did not meet the importer directly instead had obtained it from a middleman. The Appellant contended that all the documentation along with the bill of entry were proper and legitimate.

Sunset review investigation concerning imports of “Opal Glassware”

September 11, 2021 549 Views 0 comment Print

Case No. AD (SSR)–20/2021] Initiation of the sunset review investigation concerning imports of Opal Glassware originating in or exported from China PR and UAE.

Niti Aayog: Methanol– An alternate fuel

September 11, 2021 2514 Views 0 comment Print

The search for an alternate fuel is not a new venture and many countries have attempted to use methanol in some proportion or other with regular petrol to reduce the cost of petrol which is inherently connected with the day to day living of a human being on earth. Niti Aayog analyzed the issue in […]

ITAT quashes Rs 57 lakh fine on Preity Zinta

September 11, 2021 1053 Views 0 comment Print

Examining the present case on the anvil of aforesaid case law, we find that the notice in this also is an omnibus show-cause notice as it does not strike off/delete the inappropriate/irrelevant/not applicable portion. Such a generic notice betrays a non-application of mind. Hence, the penalty levied pursuant to such a notice is not legally sustainable in law.

Erroneous Section 143(1)(a) Adjustments Notices & Best Possible Remedy

September 11, 2021 87951 Views 25 comments Print

Erroneous Adjustments Notices under section 143(1)(a) of Income Tax Act, 1961 and Best Possible Remedy in Some Cases. Many assessees have received erroneous adjustment notices u/s. 143(1)(a). Surprisingly, the issuer of such notices should have concluded that the above mentioned other income or capital receipts should always be the receipts in the nature of business […]

Registration under Foreign Contribution (Regulation) Act, 2010 [FCRA]

September 11, 2021 2280 Views 0 comment Print

Preamble: With the increasing global awareness, people nowadays are making contributions around the world to addressing various social, economic and environmental issues and for the upliftment of the society and communities, especially in the developing and underdeveloped Nations. Such contributions are not limited to one’s region or city or state or country. Organizations like Bill […]

No tax demand can be issued or raised by GST department when investigation is still in progress

September 11, 2021 2142 Views 0 comment Print

The Hon’ble Telangana High Court, in the matter of Deem Distributors Private Ltd. Vs Union of India [judgement dated 03.08.2021 in Writ Petition No. 7063 of 2021], restrained the GST Department to collect any Tax/Interest/Penalty without issuance of notice under section 74(1) of the Goods and Service Tax Act, 2017 (Act). The Petitioner contended that […]

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