a) whether the Government has received any proposal explaining the need for removal of 10 per cent import duty on cotton to improve the Textiles and Clothing sector because of rising raw cotton and yarn prices;
Q.1 What is Aadhaar SMS Service? Ans. Unique Identification Authority of India (UIDAI) has introduced a service called “Aadhaar Services on SMS” which enables Aadhaar Number holders, who do not have access to internet/resident portal/m-Aadhaar etc. to use various Aadhaar services like Virtual ID generation/retrieval, Aadhaar lock/unlock etc. through SMS. Resident can avail Aadhaar Service […]
Madras HC holds that recoveries under Section 79 of the CGST Act from the customers of the taxpayer, during the course of investigation is pre-mature. Calls such measure as ingenious way of creating liquidity crunch.
Understand the impact of GST on sporting events: Learn about the taxation of participation fees, sponsorships, and prize money in sports events.
Brief Facts DLF issued 17,50,00,000 equity shares in an IPO in 2007. DLF had submitted its DRHP for the aforementioned IPO with SEBI on January 2, 2007. DLF had previously submitted a DRHP on 11th May, 2006, which it subsequently withdrew, thereafter filing a second DRHP on 2nd January, 2007. Finally, on June 18, 2007, Red Herring […]
The claim of the Department was prior to the date of Resolution Plan approved by the NCLT, and therefore, the present income tax proceedings is hit by section 31(1) of Insolvency and Bankruptcy Code, 2016, which has overriding effect vis-à-vis the Income Tax Act, 1961.
The pertinent assertion of learned counsel Shri Gargieya is that the assessing authority could not have adopted the procedure provided under Section 148 of the Income Tax Act for reopening the assessment of the petitioner because such action was taken on the basis of facts revealed to the assessing authority during the assessment of DRA Group at Ahmedabad and the proceedings, if any, would have to be conducted under Section 153A read with Section 153C of the Income Tax Act.
Anil Tambi challenges income tax assessment in Rajasthan HC, citing lack of effective hearing. Stay granted on the impugned order. Case ongoing.
CBI Arrests A Deputy Commissioner of Income Tax And An Auditor (Private Person) In A Bribery of Rs. 50,000/- The Central Bureau of Investigation has arrested a Deputy Commissioner of Income Tax, Coimbatore (Tamil Nadu) and an Auditor (a Private person) for demanding & accepting bribe of Rs.50,000/- from the Complainant. A case was registered […]
As per the Hindu Law every member of HUF has a pre-existing right in the property of the HUF and any amount given to a member therefore from the HUF property tantamounts to only giving him what actually belonged to him and there is no question therefore of the same being any amount given for no consideration or in the nature of gift, which are covered in the scope of Section 56(2)(vii) of the Act.
