Yara Fertilizers India Private Limited Vs Commissioner of Customs (CESTAT Mumbai) Introduction: The case of Yara Fertilizers India Private Limited vs Commissioner of Customs, adjudicated by the Customs, Excise, and Service Tax Appellate Tribunal (CESTAT) Mumbai, revolves around the classification dispute of the imported product ‘yaravita zintrac (zinc oxide suspension concentrate).’ The disagreement stems from […]
Jurisdiction Notification No. 72/2022-Income Tax, Dated: 28.06.2022 under section 120 of the Income tax Act, 1961. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) New Delhi Notification No. 72/2022-Income Tax | Dated: 28th June, 2022 S.O. 2925(E).—In exercise of the powers conferred by sub- sections (1) and (2) of section 120 of […]
Jurisdiction Notification No. 71/2022-Income Tax, Dated: 28.06.2022 under section 120 of the Income tax Act, 1961. Also Read:CORRIGENDUM to Notification No. 71/2022-Income Tax | Dated: 28.06.2022 MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) New Delhi Notification No. 71/2022-Income Tax | Dated: 28th June, 2022 S.O. 2926(E).— In exercise of powers conferred […]
In exercise of the powers conferred by the third proviso to sub-section (2) of section 92C of the Income-tax Act, 1961 (43 of 1961)(hereafter referred to as the said Act), read with proviso to sub-rule (7) of rule 10CA of the Income-tax Rules, 1962, the Central Government hereby notifies that where the variation between the arms length price determined under section 92C of the said Act and the price at which the international transaction or specified domestic transaction has actually been undertaken does not exceed one per cent.
Short term capital loss not claimed while filing return u/s 139(1). Loss was claimed for the first time via return u/s 153A. Claim denied according to provisions of section 80.
Explore the Jamuna Transport vs Union of India case challenging an IT refund denial under Section 119(2)(b). Details on the petitioner’s claims, application for rectification, and the court’s directive.
1. Any person Eligible to File updated returns for FY 2019-20 and subsequent assessment years as per the relevant provisions of the IT Act can file the updated return via Form ITR-U. A taxpayer would be able to file only one updated return for each assessment year. 2. Income Tax Department enabled E-filing of Updated […]
In absence of any findings in assessment order regarding underreporting or misreporting of income, PCIT cannot revise assessment order to initiate penalty proceedings.
Reserve Bank of India Geopolitical Spillovers and the Indian Economy (Keynote Address delivered by Michael Debabrata Patra, Deputy Governor, Reserve Bank of India – June 24, 2022 – Standalone session on ‘Geopolitical Spillovers and the Indian Economy’ organised by the PhD Chamber of Commerce and Industry, New Delhi) Shri Pradeep Multani, President, Shri Saket Dalmia, […]
Explore the case of Adhunik Corporation Ltd vs Superintendent, CGST Act, with a detailed analysis of Section 83, provisional attachment, and the impact of concluded Section 67 proceedings.
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