"07 April 2022" Archive - Page 3

CBIC Notifies Rate of Exchange of Foreign Currencies wef 08.04.2022

Notification No. 32/2022 - Customs (N.T.) 07/04/2022

CBIC notifies Rate of Exchange of Foreign Currencies against Indian Rupees with effect from 8th April, 2022 vide Exchange rates Notification No. 32/2022 – Customs (N.T.) dated the 7th April, 2022. GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF REVENUE CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS ***** Notification No. 32/2022...

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Functioning of Central Registration Unit for GST registrations

Order No. 17(131-Pt.II)ACCT/GST/2017/7740 07/04/2022

Chief Commissioner of State Tax, Rajasthan hereby assign the functions related to registration under the said Act. to the officers as mentioned in column no.2, for the purposes of Sections of the said Act mentioned in column no. 3 and for the jurisdiction as mentioned in column no. 4 against each of them in the table given below ....

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Rashtriya Krishi Vikas Yojana

In 2007, the National Development Council, being concerned with the slow growth in the agriculture and allied sectors, launched the Rashtriya Krishi Vikas Yojana. It is an umbrella scheme that ensures the complete development of agriculture and allied sectors/ services. Earlier 100% of the funding under Rashtriya Krishi Vikas Yojana was v...

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Posted Under: Custom Duty |

HC deletes penalty under GST as there was no intention to evade tax

Smart Roofing Private Limited Vs State Tax Officer (Madras High Court)

Considering the fact that there is only a technical breach committed by the petitioner and there is no intention to evade tax, I am inclined to quash the impugned order and allow this writ petition by directing the respondent to release the vehicle and the consignment to the petitioner, if the same has not been released already....

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If no incriminating material found during Search- Section 68 additions not sustainable

Amitbhai Manubhai Kachadiya Vs DCIT (ITAT Surat)

Since no incriminating material was found during the course of search, as regards the additions made u/s.68 of the Income Tax Act, therefore, no additions could be made....

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No Service of draft assessment order – HC Quashes Assessment order

Siddharth Sharma Vs Union of India & Ors. (Calcutta High Court)

Siddharth Sharma Vs Union of India & Ors. (Calcutta High Court) Ms Das De appearing for the respondents was given an opportunity by an order of this court dated March 17, 2022 to satisfy from record that a copy of the proposed draft assessment order was served upon the petitioner before passing the impugned assessment […]...

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Use of Aadhaar & how it is different from other government identity

Aadhaar is a unique 12 digit random number assigned to a resident which is apart from offline or physical  verification, verifiable online anywhere anytime using the Aadhaar authentication platform. Aadhaar authentication responds only with 'yes/no' answer....

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Posted Under: Custom Duty |

Cost of consumable cannot be claimed as cost of improvement of Capital Assets

Meeta Hasmukh Gandhi Vs ITO (ITAT Mumbai)

Meeta Hasmukh Gandhi Vs ITO (ITAT Mumbai) From the details, it is evident that assessee is claiming cost of improvement, which are consumable items on account of furnishing sofa etc. The authorities below are correct that these items cannot be considered as cost of improvement for computation of capital gain. FULL TEXT OF THE ORDER [&hell...

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HC quashes Reassessment Notice as reasons not existed on the date of notice

Ashika Credit Capital Limited Vs Union of India And Ors. (Calcutta High Court)

Ashika Credit Capital Limited Vs Union of India And Ors. (Calcutta High Court) Mr. Roy Chowdhury, learned advocate appearing for the Revenue was asked to produce the record to establish that the recorded reasons were existing at the time of issuance of impugned notice under Section 148 and initiation of impugned assessment proceeding unde...

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Mere charging of fees to defray the administrative costs not makes a Trust non-charitable

CIT (Exemptions) Delhi Vs India Hiv Aids Alliance (Delhi High Court)

CIT (Exemptions) Delhi Vs India Hiv Aids Alliance (Delhi High Court) Assessee is a company registered under Section 25 of the Companies Act. It gives 85% of the donation received by it to the Government of India for HIV Aids and only 15% of its total donation is given to other societies for awareness and […]...

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August 2022