We have all heard about the saying ‘Don’t put all your eggs in one basket’. This stresses on importance of diversification. Diversification is the most important part of your investment journey. Majority of investors generally diversify their investments across two main asset class: Equity and Debt. Of late investing in debt has become riskier than […]
Aktel By Proprietorship Anand Kumar & Ors. Vs Union of India And Ors. (Calcutta High Court) Current writ petition has been filed against Show Cause Notice dated April 13, 2020 (SCN) issued by the Directorate of Revenue Intelligence (“DRI”) under Section 124 read with Section 28 of the Customs Act, 1962 on the ground of […]
Sunny Motors Vs CBIC (Orissa High Court) Legitimate carry forward of ITC cannot be denied for non-filing of TRAN-1 – directed Department to permit filing of TRAN-1 till November 01, 2021. Current petition has been filed to direct the Department to accept the Goods and Services Tax (GST) TRAN-1 form under Rule 117 of the […]
Government has today approved capital infusion of has approved contribution of Grant-in-aid (Corpus) of ₹1,650 Crore to National Export Insurance Account (NEIA) over a period of five years, i.e. from FY 2021-2022 to FY 2025-2026.
Cabinet given approval for listing of M/s. Export Credit Guarantee CorporationLtd. (ECGC), an unlisted CPSE through the Initial Public Offer (IPO) on the Stock Exchange under the SEBI’s (Issue of Capital and Disclosure Requirements) Regulations, 2018.
Government has today approved capital infusion of ₹4,400 crore to ECGC Ltd. (formerly known as Export Credit Guarantee Corporation of India Ltd.) over a period of five years, i.e. from FY 2021-2022 to FY 2025- 2026.
Depreciation expense to be considered as operating & revenue generated from non-routine business operations to be considered as non-operating in nature in transfer pricing calculations for taxpayers as well as comparable companies.
i. Existing borrowers under ECLGS 1.0 & 2.0 would be eligible for additional credit support of upto 10% of total credit outstanding as on 29.02.2020 or 31.03.2021, whichever is higher. ii. Businesses who have not availed assistance under ECLGS (ECLGS 1.0 or 2.0), can avail credit support of upto 30% of their credit outstanding as on 31.03.2021.
Megger India Pvt. Ltd. Vs DCIT (ITAT Mumbai) We find that the authorities below have erred in not appreciating the documents submitted by the assessee. While the TPO has not adopted any of the methods prescribed for benchmarking the international transaction, he has erred in applying the benefit test. On the other hand the assessing […]
Hon’ble CESTAT Ahmedabad on the current issue observed that even though the reversal was not made under protest, the Appellant has the right to claim refund within one year as per Section 11B of Central Excise Act,1944 (CE Act). Noted, that the Appellant not filing the application under protest letter while reversing the credit refund cannot be rejected on this ground.
