Sandipkumar Parsottambhai Patel Vs ITO (ITAT Surat) We note that in assessees case, the assessing officer received information from the Investigation Wing, Kolkata who had carried out survey / search operations wherein it was established that in large number of penny stock companies share prices were artificially raised/manipulated on the Stock Exchanges in order to […]
Bharath Wind Farm Ltd Vs DCIT (ITAT Chennai) Upon careful consideration of factual matrix, it could be seen that the assessee has earned Carbon Credits in earlier years on the basis of wind-mill power generated during FYs 2007-08, 2008-09 & 2009-10. Recognizing the same in its books of accounts, the assessee booked income of Rs.305.59 […]
E-Land Systems Pvt. Ltd. Vs ITO (ITAT Bangalore) There is no dispute with regard to the fact that there could be a time gap between “setting up of business” and actual “commencement of business”. It is also settled principle that the expenses incurred after setting up of business is allowable as deduction. We may gainfully […]
Swastik Road Carrier Vs Central Railside Warehouse Company Limited (Competition Commission of India ) On perusal of the Information, the Commission observes that the Informant is primarily aggrieved by the conduct of OP in disqualifying and rejecting its bid in the first tender on the ground of “conflict of interest” and thereafter again providing for […]
> Company Law: 1. Nidhi (Amendment) Rules, 2022 2. Companies (Incorporation) Amendment Rules, 2022 3. Companies (Registration of Charges) Amendment Rules, 2022 4. Companies (Share Capital and Debentures) Amendment Rules, 2022 > FEMA 1. FEMA (Non-debt Instruments) (Amendment) Rules, 2022 > Securities Law: 1. Clarification on applicability of regulation 23(4) of SEBI (Listing Obligations and […]
PCJ Securities Private Limited Vs ITO (Delhi High Court) 1. This Court is actually surprised that despite an elaborate mechanism of checks and balances and multiple authorities like (assessment units, verification units, technical units, review units, Regional Faceless Assessment Centres and National Faceless Assessment Centre) being set up under Section 144B of the Act, such […]
(A) Introduction on AIS System (i) Now CBDT has introduced new AIS system by replacing of existing 26AS statement commencing from year ending March 31, 2021 and onward (ii) Existing 26AS statement is continuing in operation till new AIS system is 100% in operation. (iii) New AIS system will provide the comprehensive information’s relating to […]
Author has tried to capture all the nuances and practical implications of the Hon’ble Supreme Court judgement on Validity of Old 148 Re-Assessment Notices, and gives a Clear and Unambiguous Picture & Guidance on the New Valid Timelines for Validity of such impugned Re-assessment Notices, in accordance with the directions given in the SC judgement.
Press Release M/s Hira Steel, Nashik is engaged in the business of trading of steel and scraps. The officers of the Nasik Preventive (Hqrs.), an anti evasion wing of Central Goods and Services Tax, Nashik has inspected/visited the premises of M/s Hira Steel, PAP-54, Near Siemens, MIDC, Ambad, Nashik as per the provision laid down in […]
In this article author (Ajay Sharma) has tried to throw some light on the benefits and procedure to be followed while applying single point registration (NSIC Registration) in a brief manner: The Single Point Registration Scheme was introduced in 1976 with the objective to avoid the multiple registrations. NSIC (National Small Industries Corporation Limited) has […]
