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Archive: 08 May 2022

Posts in 08 May 2022

How Volatility Affects Bitcoin Usage

May 8, 2022 585 Views 0 comment Print

Bitcoin’s rise to popularity started in 2010 when the price of one token climbed from tiny fractions of a dollar to about $0.09. Its price has swiftly increased by thousands of dollars since then, often rising and falling within a few hours or days. Its high volatility results from its rapid and hard-to-predict price swings.

What Complicates Bitcoin’s Future?

May 8, 2022 852 Views 0 comment Print

Discover the factors that complicate Bitcoins future. Explore the potential benefits and pitfalls of the highly volatile cryptocurrency market.

Understanding Bitcoin’s Role in the Monetary System

May 8, 2022 1119 Views 0 comment Print

Like no other, Bitcoin has impacted a revolution with its decentralized peer-to-peer payment system that facilitates instantaneous, secure, and low-cost cross-border transactions. Bitcoin adoption has rapidly infiltrated several global financial sectors, including banking, investments, insurance, and remittances.

SC dismisses non­-speaking and non-reasoned order of HC

May 8, 2022 2058 Views 0 comment Print

PCIT Vs Bajaj Herbals Pvt. Ltd. (Supreme Court of India) As the impugned order passed by the High Court is a non­speaking and nonreasoned order and even the submissions on behalf of the revenue are not recorded, the impugned order passed by the High Court dismissing the appeal is unsustainable.  Under the circumstances, the impugned […]

HC imposes cost for filing writ against section 148 notice after 10 Months

May 8, 2022 1320 Views 0 comment Print

Matrix Commodeal Pvt. Ltd. Vs ITO (Calcutta High Court) This writ petition is allowed subject to payment of costs of Rs.5,000/- to the Calcutta High Court Legal Services Committee, since the impugned notice under section 148 of the Income Tax Act, 1961 has been issued on 31st March, 2021 as appears from record and this […]

CESTAT directs refund of Anti-Dumping Duty Paid After Validity of Notification

May 8, 2022 585 Views 0 comment Print

Abhilasha Impex Pvt. Limited Vs Commissioner of Customs (CESTAT Delhi) Admittedly the Anti Dumping notification was valid till 24.06.2015 and the same have admittedly lapsed w.e.f. 25.06.2015, and as such no anti dumping duty was payable by the appellant with respect to the Bill of Entry filed on 26.06.2015. Accordingly, I allow this appeal and […]

100% disallowance for bogus purchase cannot be done if Sales not doubted

May 8, 2022 5583 Views 0 comment Print

Ashok Popatbhai Chaudhari Vs ITO (ITAT Mumbai) The Income Tax Officer in this case has made 100% addition on account of bogus purchase resulting in disallowance of Rs. 56,085/-. Upon assessee’s appeal ld. CIT(A) confirmed the same. It is settled law that when sales are not doubted, 100% disallowance for bogus purchase cannot be done. […]

Section 234E Late fees cannot be levied for Defaults Prior To 01.06.2015

May 8, 2022 1437 Views 0 comment Print

Om Prakash & Sons Vs ITO (ITAT Dehradun) The issue pertains to levy of fee u/s 234E for the A.Y. 2013-14, 2014-15 and 2015-16. The amendment has been brought w.e.f. 01.06.2015. Hon’ble Karnataka High Court in case of Fatehraj Singhvi & Ors. vs. UOI & Ors. 2016 (9) TMI 964 is in favour of the […]

Effective Board of a Company

May 8, 2022 318 Views 0 comment Print

Discover the keys to an effective board of directors and how governance plays a vital role in institutional success.

Deduction of one-third of value of land towards construction services is Unconstitutional

May 8, 2022 6231 Views 0 comment Print

Learn about the Unconstitutionality of deducting one-third of the value of land in GST on Construction Services. Find out the impact of the Gujarat High Courts judgment.

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