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Archive: 15 November 2022

Posts in 15 November 2022

What If Goods Detained Due To Expiry of Bill During Transit

November 15, 2022 10536 Views 1 comment Print

Discover solutions for goods detention due to e-way bill expiration and non-extension during transit. Learn about related provisions, judgments from various courts, and ways to argue against penalties under sections 129 and 130.

Tax Benefits for Children !!

November 15, 2022 8349 Views 1 comment Print

1. Payment of tuition fees paid by parents for their children is allowed as deduction under section 80C. The Deduction is available to the extent of Rs 1,50,000/-. 2. Exemption for salaried taxpayer if they get perquisite from their employer for education of Rs 100 per month per child (upto 2 children)

Services to be rendered by CS in practice pursuant to ICSI Council decision

November 15, 2022 7392 Views 0 comment Print

SERVICES TO BE RENDERED BY COMPANY SECRETARY IN PRACTICE PURSUANT TO THE DECISION OF THE COUNCIL OF THE INSTITUTE UNDER SECTION 2(2)(f) OF THE COMPANY SECRETARIES ACT, 1980 READ WITH REGULATION 168 OF THE COMPANY SECRETARIES REGULATIONS, 1982 The Council of the Institute in its 290th meeting held on 14th October, 2022, pursuant to the […]

Tariff Notification No. 96/2022-Customs (N.T.) Dated: 15th November, 2022

November 15, 2022 1161 Views 0 comment Print

Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver- Notification No. 96/2022-Customs (N.T.) Dated: 15th November, 2022

 Time barred order passed by TPO is not legally sustainable

November 15, 2022 2184 Views 0 comment Print

ECL Finance Limited Vs ACIT (ITAT Mumbai) As per sub-section 3 to section 92CA inserted with effect from 1.6.2007 time limit for TPO to pass the order is within the period of sixty days prior to the date of completion of the order as per section 153 of the Act. Since reference under section 92CA […]

Exemption from payment of additional toll chargeable on capital goods imported for substantial expansion not available in 2006

November 15, 2022 504 Views 0 comment Print

Jammu Kashmir High Court held that the petitioner is not entitled to the benefit of exemption from payment of additional toll chargeable on capital goods imported by it for undertaking substantial expansion of its unit in the year 2006 as the benefit for the time was made available in the year 2008.

Addition on account of cash deposit without disproving cash flow statement is invalid

November 15, 2022 2622 Views 0 comment Print

ITAT held that Once cash flow statement is not controverted by the Assessing Officer as well as the ld. CIT[A], the addition of such cash deposit is not valid

SC ruling on Section 194H TDS on actual gross fare charged by travel agents

November 15, 2022 14397 Views 0 comment Print

Singapore Airlines Ltd. Vs CIT (Supreme Court) Whether an airline is responsible for deducting tax at source in respect of supplementary commission which an agent is paid on the difference between the actual fare and the net fare- Section 194H of Income-tax Act, 1961 analyses including whether liability to deduct when the tax can be […]

Assessment order is invalid if notice not served to assessee: ITAT Mumbai

November 15, 2022 4830 Views 0 comment Print

Due to invalid notice service and non-service of notice to assessee, the assessment order made by AO is therefore bad in law and subject to being quashed.

GST on printing service where content is supplied by recipient along with raw materials

November 15, 2022 15570 Views 0 comment Print

In re Dachepalli Printers (GST AAR Telangana) What is the rate of tax under CGST & SGST on the service of the printing in cases where content is supplied by the recipient along with raw materials such as paper & cover board? 1. Where content as well as physical inputs are supplied by the recipient […]

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