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Archive: 05 October 2021

Posts in 05 October 2021

CESTAT ask registry to adhere to SC direction on period of limitation

October 5, 2021 1101 Views 0 comment Print

The Registry should not insist for a delay condonation application to be filed in appeals governed by the above said order of the Supreme Court. If an appellant, however, desires to take the benefit of the order dated 23.09.2021 passed by the Supreme Court, then such a statement should be made by the appellant in the verification column and in the respective column of the date of receipt of impugned order in EA-3/CA-3/ST-5 Form. All concerned are, therefore, required to adhere to the aforesaid directions.

Invoicing under GST in case of supply of services

October 5, 2021 15147 Views 1 comment Print

Extract of relevant provisions Section 13 of CGST Act, 2017, Time of supply of services. (1) The liability to pay tax on services shall arise at the time of supply, as determined in accordance with the provisions of this section. (2) The time of supply of services shall be the earliest of the following dates, […]

Delhi HC admits WP staying special audit under Income Tax

October 5, 2021 1092 Views 0 comment Print

India Yamaha Motor Private Limited Vs PCIT (Delhi High Court) Writ of India Yamaha Motor (P) Ltd., Hon’ble Delhi High Court has admitted the Writ and has stayed the operation of letter of direction and order for special audit u/s 142(2A) of the Income Tax Act, 1961, as the same were issued in violation of […]

Income Tax Dept searches in Maharashtra, Karnataka & UP

October 5, 2021 639 Views 0 comment Print

The Income Tax Department carried outa search and seizure operation on 30.09.2021 on 37 premises spread across multiple cities including Mumbai, Pune, Noida & Bangalore. These groups/individuals were in varied businesses such as cable manufacturing, real estate, textile, printing machineries, hotels, logistics etc.

Cases pertaining to ‘Pandora Papers’ to be investigated

October 5, 2021 912 Views 0 comment Print

On 3rd October, 2021, the International Consortium of International Journalists (ICIJ) has come out with what is claimed to be a 2.94 terabyte data trove that exposes the offshore secrets of wealthy elites from more than 200 countries and territories.

Seychelles’ Tax Inspectors Without Borders programme launched

October 5, 2021 456 Views 0 comment Print

Tax Inspectors Without Borders (TIWB), a joint initiative of the United Nations Development Programme (UNDP) and the Organisation for Economic Cooperation and Development (OECD), launched its programme in Seychelles on 4th October, 2021. India was chosen as the Partner Administration and has provided Tax Expert for this programme.

Income Tax benefits available for education

October 5, 2021 6513 Views 1 comment Print

Education has potential to improve quality of life of individuals in geometric progression velocity. The government also provides certain reliefs to the tax payers in this respect.  Let us discuss the benefits available under the income tax laws in India in connection with education. Deduction under Section 80 C for expenses on full time education […]

GST: Release on interim bail cannot be treated in constructive custody

October 5, 2021 2313 Views 0 comment Print

Vishal Gupta Vs Union Of India And Another (Allahabad High Court) Submission of the learned counsel for the petitioner is that although petitioner has been released on interim bail in compliance of directions issued by High Power Committee but he shall be deemed to be in constructive custody of the Court. The second submission of […]

Mere Revenue Record is not A Document of Title & not create any right : SC

October 5, 2021 13329 Views 0 comment Print

Prabhagiya Van Adhikari Awadh Van Prabhag Vs Arun Kumar Bhardwaj (Dead) Thr. Lrs (Supreme Court ) The revenue record is not a document of title. Therefore, even if the name of the lessee finds mention in the revenue record but such entry without any supporting documents of creation of lease contemplated under the Forest Act […]

Value Free Transfer (VFT) of Government Securities – Guidelines

October 5, 2021 933 Views 0 comment Print

VFT of the government securities shall mean transfer of securities from one SGL/CSGL to another SGL/CSGL account, without corresponding payment leg in the books of RBI.

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October 2021