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Archive: 14 January 2022

Posts in 14 January 2022

Live Course on Appeal, Pleading & Drafting under GST by CA Sachin Jain

May 15, 2024 6447 Views 0 comment Print

oin us for an immersive live course led by renowned expert CA Sachin Jain, as we delve into the intricacies of appeal, pleading, and drafting under GST.

Whether Benefits of Section 23(2) Availabe To HUF?

January 14, 2022 7731 Views 0 comment Print

It is not a question whether it is Section 23(2) of the Income Tax Act or Section 7(4) of the Wealth Tax Act, the provisions being similar, the interpretation will be the same. The Division Bench of this Court having held that similar benefit is available to HUF, irrespective of decision of other High Court with regard to partnership firm, it was open to the Division Bench to follow its earlier decision even without referring the matter to a Larger Bench. The question referred to this Court is, therefore, answered in the affirmative i.e., in favour of the assessee, but against the revenue.

Sea ports exempted for PSIC for import of metallic scrap increased to 10

January 14, 2022 2982 Views 0 comment Print

Import of metallic waste and scrap from 6 safe countries / region without PSIC is now permitted from 10 designated ports including through Hazira port and Kamarajar port. As a result, the total number of sea ports exempted for PSIC for import of metallic scrap under Para 2.54 of HBP have increased from existing 08 […]

DGGI Officials bust network involving fake invoices worth more than Rs 4,500 crore

January 14, 2022 1803 Views 0 comment Print

Recently a case was booked by DGGI against some fake firms, which were found non existing at their principal place of business. To trace the real persons behind these fake firms, the physical address from where GST returns were actually filed was ascertained. Then search was conducted on 06.01.2022 at that premises in Delhi. During search, it was found that proprietor is engaged in providing services of ‘Cloud Storage’ on his servers to various customers for maintaining their financial accounts.

Third phase of deactivation of IECs not updated at DGFT initiated

January 14, 2022 16281 Views 0 comment Print

All IECs which have not been updated after 01.07.2020 shall be de-activated with effect from 01.02.2022. The list of such IECs may be seen at the given link ( . The concerned IEC holders are provided an opportunity to update their IEC in this interim period till 31.01.2022, failing which the given IECs shall be de-activated from 01.02.2022.

ITAT allows Rental Income from subleasing of commercial properties for more than 12 Years as House Property Income

January 14, 2022 1620 Views 0 comment Print

DCIT Vs Pfizer Ltd (ITAT Mumbai) AO treated the rental income of Rs. 5,47,89,000/- received by the assessee from subleasing of commercial properties as income from business as against claim of the assessee being income from house property on the ground that renting out of premises amounts to commercial exploitation for business purpose by the […]

TP: Passing of final order without giving a Draft Assessment Order is bad in law

January 14, 2022 3690 Views 0 comment Print

Assessing Officer has assumed jurisdiction to straight away pass the final order without following the mandatory procedure prescribed under Section 144C of the Act. It is held in SHL (India) Private Limited (supra) that this is not a mere irregularity but an incurable irregularity.

Changes in CGST Act effective w.e.f 1st January 2022

January 14, 2022 16179 Views 1 comment Print

Changes in CGST Act effective w.e.f 1st January 2022 (Notification No. 39/2021-Central tax dated 21st December 2021) GST on supply by any Club or Association to its Members ♦ In the CGST Act, 2017, in section 7 (1)(a), the following clause (aa) and Explanation inserted and shall be deemed to have been inserted with effect […]

Clarify whether currency notes carry corona virus or not: CAIT writes to Govt

January 14, 2022 978 Views 0 comment Print

Confederation of All India Traders (CAIT) writes Health Minister for its clarification whether the currency notes carry corona virus or not. They also  urges Government to use polymer currency notes to control spread of virus as is used by the countries like UK, Australia and Canada. “Vyapar Bhawan” 925/1, Naiwala, Karol Bagh, New Delhi-110005. Phone: […]

बजट 2022 होगा इस दशक का सबसे चुनौतिपूर्ण

January 14, 2022 1500 Views 0 comment Print

सरकार के लिए बजट 2022 इस दशक का सबसे चुनौतिपूर्ण होने जा रहा है क्योंकि सरकार की गिरेबान इस बार चारों तरफ से जकड़ी हुई है. आइए समझे: 1. महामारी को नियंत्रित करने पर जोर लगाना और पैसे का जुगाड़ करना महामारी को नियत्रंण करने के लिए स्वास्थ्य सेवाओं, सुविधाओं और वेक्सीनेशश की उपलब्धता के […]

मुंबई हाईकोर्ट ने सीबीडीटी को लगाई फटकार, चेताया की अधिकारी करें अपने दिमाग का उपयोग

January 14, 2022 2514 Views 0 comment Print

हाल में ही मुंबई हाईकोर्ट ने आयकर संबंधित एक मामले में आयकर विभाग और उसको चलाने वाली संस्था सेंट्रल बोर्ड आफ डायरेक्ट टैक्सेस ( सीबीडीटी) को काफी खरी खरी सुनाई. कोर्ट ने इतना तक कह दिया कि सीबीडीटी अपने अधिकारियों को कम से कम इतनी ट्रेनिंग तो दें ताकि कोई केस निर्धारण करते समय अपने […]

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