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Archive: 20 September 2021

Posts in 20 September 2021

Live Course on How to Reply to GST Notices & SCN & to Fake ITC Notices?

April 29, 2024 7005 Views 0 comment Print

Join our live course to learn expert strategies for replying to GST notices, SCNs, and fake ITC notices. Understand litigation nuances, evidence insights, and practical tips for effective responses. Register now!

Join Live Webinar and get Book on Section 43B(h)

April 29, 2024 5070 Views 1 comment Print

Live Webinar with Book on Section 43B(h) (Financial Fitness) on 10th May 2024, 6:00 pm to 8:00 pm. CA Manoj Lamba will break down intricacies of Section 43B(h)

CBIC cannot cheat assessee by manipulative interpretation -Part II

September 20, 2021 10641 Views 0 comment Print

Now, we examine three situations. All arising out of manipulative interpretation but then there is God, as you will see it. The first is a case, where the exporter effected exports under the erstwhile Central Ex. regime under the rebate & discharged duty liability on the CIF value of exports as the contract with the foreign buyer states very clearly that the delivery of goods stands completed once the goods are delivered at their warehouse & put to test & pass the Quality Control parameters & duly accepted by the buyer.

CAIT demands CBI probe & suspension of Amazon’s portal

September 20, 2021 465 Views 0 comment Print

In a very important communication to  Shri Piyush Goyal today Confederation of All India Traders (CAIT) has urged the Govt to take immediate cognisance of the sensational news regarding Amazon’s admission of bribery to Govt officials. CAIT demanded a thorough CBI probe & suspension of Amazon’s portal. Confederation of All India Traders (CAIT) Ref. No. 3281/1/50 […]

CBDT notifies pension fund, namely ‘BCI IRR India Holdings Inc.’ | Section 10(23FE)

September 20, 2021 975 Views 0 comment Print

CBDT notifies pension fund, namely, ‘BCI IRR India Holdings Inc.’ under sub-clause (iv) of clause (c) of the Explanation 1 to clause (23FE) of section 10 of the Income-tax Act, 1961  in respect of the eligible investment made by it in India on or after 20th September, 2021 but on or before the 31st day […]

Anti-dumping investigation on imports of Untreated Fumed Silica

September 20, 2021 1932 Views 0 comment Print

Case No. AD (OI)–35/2020 Anti-dumping investigation concerning imports of ―Untreated Fumed Silica originating in and exported from China PR and Korea RP.

Section 10(46) exemption to Gujarat Electricity Regulatory Commission

September 20, 2021 744 Views 0 comment Print

Vide Notification No. 1115/2021-Income Tax | Dated: 20th September, 2021 CBDT notifies Tax Exemption to ‘Gujarat Electricity Regulatory Commission’. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) New Delhi Notification No. 115/2021-Income Tax | Dated: 20th September, 2021 S.O. 3882(E).—In exercise of the powers conferred by clause (46) of section 10 of […]

No demand of service tax in absence of  “suppression‟ or “collusion” with an intent to evade payment of tax 

September 20, 2021 2940 Views 0 comment Print

Assessee was able to correlate the invoices with the undertakings and satisfied the substantial conditions set out in the Exemption Notifications. The extended period of limitation could not be invoked in absence of  suppression or collusion with an intent to evade payment of duty.  Accordingly, the order was set-aside by which the demand of service tax had been confirmed with interest and penalty.

Section 271D & 271E Penalty proceedings are independent of assessment proceedings

September 20, 2021 6369 Views 0 comment Print

Penalty proceedings under section 271D or 271E were independent proceedings and had nothing to do with assessment proceedings or its outcome. Therefore, CIT(A) was not justified in cancelling the orders imposing penalty on the ground that the assessment proceedings, during the course of which, penalty u/s.271D and 271E were initiated had been held to be invalid.

Challenge By Tax Bar Association to New Income Tax Portal System

September 20, 2021 37350 Views 29 comments Print

The writ petition filed by the tax Bar Association before the Gauhati High Court seeking a direction from the respondent authorities to restore the old income tax portal immediately due to non functioning to the new income tax portal system (Income Tax Portal 2.0) inasmuch as the genuine tax payer who are interested in paying due taxes and submit the returns are not being able to pay the taxes and submit returns and other forms.

Application Forms for Recognition and Renewal of Market Infrastructure Institutions (MIIs)

September 20, 2021 582 Views 0 comment Print

Application for recognition of a stock exchange under regulation 5/ Application for renewal of recognition of a stock exchange under regulation 12 of the International Financial Services Centres Authority (Market Infrastructure Institutions) Regulations, 2021.

Foreign Subsidiary Company Incorporation in India

September 20, 2021 10233 Views 2 comments Print

Incorporation of Foreign Subsidiary in India Whenever a person wants to incorporate a foreign subsidiary or wholly owned subsidiary in India, there would be few questions that would come in our mind. In this article, I would like to clear such doubts in best possible manner. Step by step involved in Foreign Subsidiary Company Incorporation […]

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