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Archive: 25 March 2022

Posts in 25 March 2022

SC to decide on Classification of `Nimbooz’

March 25, 2022 783 Views 0 comment Print

Commissioner of Central Excise Hyderabad-I Vs Aradhana Foods And Juices Pvt. Ltd. (Supreme Court of India) The short question which is posed for consideration of this Court is whether the product `Nimbooz’ can be classified under item `Lemonade’ and/or as `fruit pulp or fruit juice based drinks’. Issue notice returnable on 27.04.2022. Dasti, in addition, […]

Order of premature retirement is to be based on entire service record: SC

March 25, 2022 1554 Views 0 comment Print

Central Industrial Security Force Vs HC (GD) Om Prakash (Supreme Court of India) The respondent, Head Constable Om Prakash1 was prematurely retired on 16.08.2011 in exercise of the powers conferred under Rule 56(j) of the Fundamental Rules read with Rule 48(1)(b) of CCS (Pension) Rules, 19722 after completion of 30 years of service. The order […]

CA, CS, CMA- Appointment of Members in Appellate Authority

March 25, 2022 1350 Views 0 comment Print

Government appoints 5 new members in Appellate Authority in place of existing members under section 22A of the Chartered Accountants Act, 1949, section 22A of the Cost and Works Accountants Act, 1959 and section 22A of the Company Secretaries Act, 1980. MINISTRY OF CORPORATE AFFAIRS NOTIFICATION New Delhi, the 25th March, 2022 G.S.R. 222(E).—In exercise of […]

Expense on leased property to produce right ambience to attract customers allowable

March 25, 2022 393 Views 0 comment Print

. Expenses such as reflooring, painting of walls, false ceiling, temporary wooden structures were incurred to produce the right ambience to attract customers

Govt Grant Received by Trust towards Corpus Fund is Not Chargeable to Tax

March 25, 2022 5604 Views 0 comment Print

DCIT (E) Vs Electronics & Quality Development Centre (ITAT Ahmedabad) Insofar as the grant of Rs.6,18,22,000/- received by the assessee-trust from the Government of Gujarat is concerned, it is observed that the said grants were directly taken by the assessee-trust to the corpus funds in the balance-sheet. The Assessing Officer, however, did not accept this […]

Amount advanced & lost in the course of business allowable as bad-debt

March 25, 2022 876 Views 0 comment Print

ACIT Vs Ankur Foundation P. Ltd (ITAT Chennai) The assessee claimed bad-debt of Rs.20 Lacs written-off against Mr. K.M.Pitchai. The same was held to be not allowable under any of the provisions. During appellate proceedings, it was explained that the assessee paid land advance of Rs.25 Lacs to Mr. Pitchaiin AY 2006-07. Since Mr. Pitchai […]

Clarity on rate of GST on Branded & Non-Branded ‘Namkeen’

March 25, 2022 40224 Views 0 comment Print

At present, branded Namkeens, bhujias, fruit & vegetable chips, snack foods etc. are charged @ 6 % CGST + 6 % SGST or 12% IGST, whereas, non-branded Namkeens, bhujias, fruit & vegetable chips, snack foods etc. are charged GST @ 5%.

Government proposes 39 amendments to Finance Bill, 2022

March 25, 2022 20739 Views 0 comment Print

Union Finance Minister Government has proposes 39 amendments to Finance Bill, 2022 Smt. Nirmala Sitharaman has proposed 39 amendments to Finance Bill, 2022 vide a Notice of Amendments dated 23.03.2022  introduced in Lok Sabha. Full text of the Notice of Amendments is as follows:- *List No. 1 LOK SABHA FINANCE BILL, 2022 [As introduced in […]

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