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Archive: 28 June 2022

Posts in 28 June 2022

TDS under section 194R Circular – a few observations

June 28, 2022 15954 Views 1 comment Print

The Finance Act, 2022 has inserted w.e.f. 1-7-2022 a new TDS section 194R for deduction of tax @ 10%, on any benefit or perquisite, arising from business or profession, of a resident. CBDT in its Circular no. 12 of 2022 dated 16 June 2022 has come out with the guidelines in the form of Q&As […]

GST: Ex-Parte Order Passed violating Principles of Natural Justice is Bad in Law

June 28, 2022 5394 Views 0 comment Print

Explore the case of Rakesh Roshan vs. State of Bihar in the Patna High Court, delving into the quashing of tax demands, violation of natural justice, and the importance of fair hearings.

A glance at gamma in options trading

June 28, 2022 963 Views 0 comment Print

#AD Derivative contracts such as futures and options allow traders to use various strategies in the stock market to reduce risk and maximise returns. Future and option trading or F&O trading requires traders to take certain positions by taking into consideration all the factors that can influence the price. To be able to do this […]

Income Tax Section 148 Notice against Dead Person Is null & void

June 28, 2022 2226 Views 0 comment Print

Explore the Delhi High Court judgment in Davinder Singh Thapar vs. ACIT, highlighting the invalidity of notices against a deceased assessee under Section 148 of the Income Tax Act.

PMLA: HC denies Bail as applicant likely to commit offence, if enlarged on bail

June 28, 2022 534 Views 0 comment Print

Dive into the Jharkhand High Court rejection of bail for Hemant Kumar Sinha in a money laundering case. Analysis of charges, arguments, and legal perspectives.

Forest (Conservation) Rules, 2022

June 28, 2022 4995 Views 0 comment Print

These rules may be called the Forest (Conservation) Rules, 2022. (2) They shall come into force on the date of their publication in the Official Gazette.

Non fulfillment of satisfactory, condition mars the revision of assessable value

June 28, 2022 291 Views 0 comment Print

Dive into the dispute of Acmechem Ltd vs Commissioner of Customs (CESTAT Mumbai). Explore challenges to value rejection, breaches of natural justice, and a crucial assessment analysis.

Clandestine removal charge, on incomplete/ inconsistent record, unsustainable

June 28, 2022 594 Views 0 comment Print

Charges of clandestine removal cannot be sustained as the evidences brought into the record by the department are incomplete, inconsistent and not a reliable piece of evidence.

TVAT Act: Regular assessment for composition scheme dealer is untenable in law

June 28, 2022 777 Views 0 comment Print

Held that If there is payment of tax under the composition scheme, question of regular assessment would not arise under Telangana Value Added Tax Act, 2005 (TVAT Act).

Customs: Section 61(1) not provide for use of goods in manufacture

June 28, 2022 369 Views 0 comment Print

Lonsen Kiri Chemical Industries Limited Vs Commissioner of Central Excise & ST (CESTAT Ahmedabad) In the present case, the assessee being 100% EOU, imported goods exempted under Notification No. 50/2003-Cus. There is no dispute about the intention of the said goods to be used in the manufacture of final product in the 100% EOU unit […]

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