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Archive: 17 March 2022

Posts in 17 March 2022

Filing of Form 67 not mandatory for claiming Foreign Tax Credit

March 17, 2022 8274 Views 0 comment Print

42 Hertz Software India Pvt. Ltd. Vs ACIT (ITAT Bangalore) There is no dispute that the Assessee is entitled to claim Foreign Tax Credit (FTC). On perusal of provisions of Rule 128 (8) & (9), it is clear that, one of the requirements of Rule 128 for claiming FTC is that Form 67 is to […]

Amended provisions of section 43B & 36(1)(va) not applicable for AY 2018-19

March 17, 2022 1593 Views 0 comment Print

ITAT held that amended provisions of section 43B as well as 36(1)(va) of the I.T. Act are not applicable for the assessment year 2018-19.

Govt establishes Tribunal to decide disputes in election to ICAI Council

March 17, 2022 993 Views 0 comment Print

Government hereby establishes a Tribunal consisting of the following persons to decide disputes in the matter of election to the Council of the Institute of Chartered Accountants of India held in December, 2021

Revenue cannot take the plea of transfer of jurisdiction due to GST regime

March 17, 2022 3687 Views 0 comment Print

Commissioner of Central Excise Vs Riba Textiles Limited (Punjab And Haryana High Court) This appeal has been filed against the order passed by Customs, Excise & Services Tax Appellate Tribunal, Chandigarh whereby the respondent has been held to be entitled for interest of refund from the date of deposit and the order whereby the application […]

HC not justified in disposing Appeal with a One Paragraph Order: SC

March 17, 2022 4179 Views 0 comment Print

SC held that In our view, the High Court was not right and justified in disposing of the appeal with one paragraph order without discussing the issues which arose for consideration.

Addl. CIT not empowered to Grant approval for reopening beyond 4 years

March 17, 2022 870 Views 0 comment Print

M N Dastur & Co Pvt. Ltd. Vs DCIT (ITAT Bangalore) In the present case the reopening beyond 4 years has been done by getting the approval of Addl. Commissioner and not from the Commissioner or Pr. Commissioner or Pr. Chief Commissioner. Therefore, the initiation of the proceedings u/s 148 of the Act was invalid. […]

FIRC submission allowed in case of exports to OFAC listed countries under Advance Authorization

March 17, 2022 2082 Views 0 comment Print

Guidelines of ANF-4F of Handbook of Procedures, 2015-­2020 has been amended to allow submission of FIRC in case of exports made to OFAC listed countries under Advance Authorization. Government of India Ministry of Commerce & Industry Department of Commerce Directorate General of Foreign Trade Udyog Bhawan, New Delhi Public Notice No. 50/2015-2020-DGFT | Dated  17th […]

CAIT seek investigation against Amazon for alleged illegal practices

March 17, 2022 228 Views 0 comment Print

We would like to bring to your kind notice that the referral of the case by the Committee to the Department is a follow up of a previous warning from the members of the U.S. Committee in October 2021 accusing Amazon’s top executives about lying to Congress regarding Amazon’s systematic campaign of copying products and rigging search results in India to boost sales of its own brands.

MCA Appoints 2 Govt Nominees in CA, CS & CMA Appellate Authority

March 17, 2022 1389 Views 0 comment Print

MCA Appoints 2 Govt Nominees in Appellate Authority under Chartered Accountants Act, 1949, Cost and Works Accountants Act, 1959 and Company Secretaries Act, 1980. MINISTRY OF CORPORATE AFFAIRS NOTIFICATION New Delhi, the 17th March, 2022 G.S.R. 212(E).—In exercise of the powers conferred by sub section (1) of section 22A of the Chartered Accountants Act, 1949 (38 […]

Provisional attachment should not hamper normal business activities of taxable person

March 17, 2022 5403 Views 0 comment Print

Time and again, this Court as well as even the instructions instructions issued by the higher authority of the respondents, has directed the proper officer to ensure that their action of the provisional attachment should not hamper normal business activities of the taxable person.

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