"18 October 2022" Archive

Exemption from generation of e-way bill for movement of vehicles for testing

Notification No. 8/2022-TNGST PP1/GST-15/23/2022 18/10/2022

TNGST Act, 2017 - Tvl. Mahindra & Mahindra ­Exemption from generation of e-way bill for the movement of vehicles for the purpose of testing under rule 138 (14) (d) of TNGST Rules, 2017 ­Notification issued....

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Admissibility of assurance benefits payable in lieu of EDLI Scheme,1976

E-file No.53464 18/10/2022

Even where an employee has died while in service, some offices are rejecting the claims saying that the contribution was not received during the previous few days and therefore the EDLI benefits are not payable on account of such NCP days....

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All insurance products shall cover mental illness: IRDAI

Notification No. 327/IRDAI/HLT/MHCA/CIR/220/10/2022 18/10/2022

IT is reiterated that all insurance products shall cover mental illness and comply with provisions of MHC Act, 2017 without any deviation....

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MSME benefit after upward change in investment in machinery or turnover or both?

Notification No. S.O. 4926(E) 18/10/2022

In case of an upward change in terms of investment in plant and machinery or equipment or turnover or both, and consequent re-classification, an enterprise shall continue to avail of all non-tax benefits of the category (micro or small or medium) it was in before the re-classification, for a period of three years from the date of such upw...

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Disallowance u/s 40(a)(i) unsustainable as consideration not regarded as income deemed to accrue or arise in India

Subex Technologies Limited Vs JCIT (ITAT Bangalore)

ITAT Bangalore held that disallowance u/s 40(a)(i) unsustainable as assessee is not liable to deduct TDS for reason that consideration received couldnt have been regarded as income deemed to accrue or arise in India....

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Denial of exemption u/s 54F for mere technical default is unjustified

Vikas Narayan Baddi Vs ACIT (ITAT Ahmedabad)

ITAT Ahmedabad held that denial of exemption u/s 54F of the Income Tax Act for a mere technical default, beyond the control of assessee, in not getting the new property registered within the stipulated time period of two years is unjustified....

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Late fee u/s 234E for delay in filing TDS return applicable only from 01.06.2015

Karnataka Grameena Bank Vs ACIT (ITAT Bangalore)

ITAT Bangalore held that any ambiguity in a taxing statute should ensure the benefit of the subject/ assessee. Accordingly, the taxing provision of late fee in respect of late filing of TDS return came into force from 01.06.2015. Hence, late fees u/s 234E cannot be levied before 01.06.2015....

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Export Promotion Council for Handicraft (EPCH) Membership & RCMC

EPCH is a non-profit organisation.  It's an apex body formed under the companies act. Setting up EPCH aims to promote and preserve the traditional handicraft industry and promote handicraft export in the international market....

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AAR Rajasthan allows ‘Samarpan Processing’ to withdraw application

In re Samarpan Processing Private Ltd. (GST AAR Rajasthan)

In re Samarpan Processing Private Ltd. (GST AAR Rajasthan) The Applicant vide their letter dated 16.08.2022 has requested to withdraw the Advance Ruling Application filed before the authority. Since the applicant has requested for withdrawal of the application therefore, their request to withdraw the application is considered. Hence, no ...

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AAR Rajasthan allows ‘Celebal Technologies’ to withdraw application

In re Celebal Technologies Private Ltd. (GST AAR Rajasthan)

In re Celebal Technologies Private Ltd. (GST AAR Rajasthan) The Applicant vide their letter dated 01.09.2022 has requested to withdraw the Advance Ruling Application filed before the authority. Since the applicant has requested for withdrawal of the application therefore, their request to withdraw the application is considered. Hence, no ...

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