Indus Teqsite Private Ltd. (presently known as Data Patterns India Pvt. Vs DCIT (Madras High Court) Merely because the ratification has not been done by a Higher Authority, will it automatically vitiate the approval, which was granted by the Competent Authority namely the Development Commissioner. The learned Single Judge, after noting that the said assessee […]
Outcome of 45th GST Council Meeting held on 17th September 2021 The GST Council met for the 45th time on 17th September 2021 at Lucknow. The Council discussed and approved: (I) Recommendations relating to GST rates on Goods and Services; (II) Issue of Compensation Scenario; and (III) Recommendations relating to GST Law and Procedure. I. […]
Survey either engaging unlicensed surveyor or surveyors who are not holding license in relevant areas of risk. Provision: Regulation 12(1) and Regulation 16(5) under Chapter VI (Code of Conduct) of IRDAI Insurance Surveyor and Loss Assessors) Regulations, 2015.
Charge: Undertaking survey not in commensurate with their resources. Provision: Regulation 4(15) (4) and 12(1) of IRDAI (Insurance Surveyors & Loss Assessors) Regulations, 2015
K. Ramesh Reddy Vs ACIT (ITAT Bangalore) In this case on 30.11.2006, when the assessment was made, the HUF was not in existence. In such a case, the procedure prescribed under Section 171 will have no application as the assessee was not hitherto assessed as HUF and so, the fiction created under that section to […]
Financial Software and Systems Private Limited Vs CIT (Madras High Court) The question of law which is involved is with regard to whether the assessee was liable to deduct Tax at Source in respect of the Computer Software which was dealt with by them, procured from a Non-Resident and sold in the Indian Market. This […]
The 45th GST Council Meeting was held on 16th-17th September 2021 at Lucknow under the Chairmanship of the Union Finance Minister and the Chairperson, GST Council Smt. Nirmala Sitharaman. A series of trade friendly recommendations were discussed and agreed upon by the GST Council.
carbon credit is not even directly linked with the power generation and the income is received by sale of the excess carbon credits. Lastly, the Court inferred that the Tribunal had rightly held that it is a capital receipt and not business income.
Notification No. 34/2021-Customs (N.T./CAA/DRI) [S.O. 3917 (E).], Dated: 20.09.2021 | Appointment of Common Adjudicating Authority MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS) (Directorate of Revenue Intelligence ) New Delhi, the 20th September, 2021 Notification No. 34/2021-Customs (N.T./CAA/DRI) S.O. 3917 (E).— In pursuance of notification No. 60/2015-Customs (N.T.), published vide […]
Introduction The 45th GST Council Meeting was held on 17th September, 2021 under the charimanship of Honourable Finance Minister Smt. Nirmala Sitharaman. The said Meeting took place at Lucknow, Uttar Pradesh. The meeting was attended by MOS Shri Pankaj Chaudhri besides Finance Ministers of States & UTs and Senior officers from Union Government & States. […]
