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Archive: 07 October 2021

Posts in 07 October 2021

An agreement shall reflect a true commercial substance of transaction

October 7, 2021 987 Views 0 comment Print

Parexel International Clinical Research Private Limited Vs DCIT (ITAT Bangalore) In this case, the assessee coordinated between the individual investigator and Paraxel International GmbH Germany. The contention of the assessee is that assessee has not undertaken any risk and all risk was taken over by Paraxel International GmbH Germany and relied on the Addendum dated […]

No limitation period in case of usufructuary mortgage: SC

October 7, 2021 2814 Views 0 comment Print

Full Bench of Punjab and Haryana HC in Ram Kishan & Ors. Vs. Sheo Ram & Ors., has held that there is no limitation period in case of usufructuary mortgage. Once a mortgage always a mortgage was the principle applied.

SC ruling on whether order section 263 is barred by limitation

October 7, 2021 2511 Views 0 comment Print

CIT Vs. Mohammed Meeran Shahul Hameed (Supreme Court) The short question of law which is posed for consideration before this court is, 1. whether in the facts and circumstances of the case, the High Court and the learned ITAT are right in holding that the order passed by the learned Commissioner passed under Section 263 […]

Compliance Calendar for the Month of October 2021 

October 7, 2021 7803 Views 0 comment Print

And finally the world seems to be recovering from COVID 19 effects. Things, including businesses are getting back on track. Amid all of this, it is important to stay compliant with enormous compliance falling in the year for businesses and entrepreneurs. The Government and concerned Government Departments such as Ministry of Corporate Affairs, Central Bureau […]

Technical Glitches not to stand in way of ultimate relief to Taxpayers: Kerala High Court grants GST Refund

October 7, 2021 783 Views 0 comment Print

Dantara Jewellers Vs State of Kerala (Kerala High Court) The Kerala High Court while granting the refund to the taxpayer ruled that all the technical glitches that may occur in between, shall not stand in the way of ultimate relief of the grant of refund to the petitioner. The Petitioner, Dantara Jewellers assailed the order […]

CBIC Notifies Rate of Exchange of Foreign Currencies wef 08.10.2021

October 7, 2021 2061 Views 0 comment Print

CBIC notifies Rate of Exchange of Foreign Currencies against Indian Rupees with effect from 8th October, 2021, vide Notification No. 80/2021-Customs (N.T.) | Dated: 7th October, 2021 GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF REVENUE CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS ***** Notification No. 80/2021 – Customs (N.T.) New Delhi, dated the 7th […]

Flat Transparent Sheet Glass (Quality Control) Order, 2021

October 7, 2021 2352 Views 0 comment Print

(1) This Order may be called the Flat Transparent Sheet Glass (Quality Control) Order, 2021. (2) Save as otherwise provided in this order, it shall come into force from the date of its publication in the official Gazette.

Law on Cartels

October 7, 2021 1911 Views 0 comment Print

At the heart of competition law is consumer welfare and creating a marketplace where businesses compete fairly with each other. Competition in Indian markets and markets outside India, having an appreciable adverse effect on competition in India, is governed by the Competition Act, 2002 (“Act”). Agreements among competitors have always been the most pernicious of […]

Section 54F exemption available on Multiple Flats obtained under JDA

October 7, 2021 14334 Views 0 comment Print

ITAT, Bengaluru Bench in the case of Smt. Nethravathi, Bengaluru vs ITO in ITA No.2630/Bang/2017 order dated 25.04.2018 wherein this Tribunal took the view that multiple flats obtained under JDA would be entitled to deduction under section 54F of the Act.

Healthcare System And Receivable Management

October 7, 2021 2775 Views 1 comment Print

Maintaining a healthy cash flow is one of the major challenges that every healthcare organization faces. Accounts Receivable is the most important Function for the smooth running of Hospital. It is very important for a Hospital to make sure that its Accounts Receivables are handled accurately and eliminate delays in receiving payments. Before we understand […]

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