Follow Us :

Archive: 16 November 2022

Posts in 16 November 2022

5 Lakh penalty imposed for not printing Company CIN on company’s business letters etc.

November 16, 2022 1098 Views 0 comment Print

The company in its application has submitted that the CIN was not printed in the company’s business letters, bill heads etc. upto 2021. Hence the company has violated the provisions of Section 12(3)(c) of Companies Act, 2013.

No section 69 addition in directors’ hand for mere use of his PAN by Company

November 16, 2022 990 Views 0 comment Print

Merely, because the assessee’s PAN number was mentioned as he was the Director of one of the company, the purchase cannot be said to be made by him when the purchase has been shown in the P&L account by the said company itself as well as part of the closing stock of the said company, namely, Iscon Procon Pvt. Ltd.

2G Spectrum case Legal expense for directors cannot be treated as personal without examining outcome of CBI Court judgment

November 16, 2022 417 Views 0 comment Print

Kalaignar TV Pvt. Ltd. Vs ACIT (ITAT Chennai)  The assessee has claimed legal expenses and travelling & conveyance expenses before the Assessing Officer. The Assessing Officer mainly disallowed the expenditure claimed by the assessee on the ground that the legal proceedings was undertaken in respect of the charges framed against the Directors and shareholders of […]

Co-Browsing and how it help Income Taxpayer service – FAQs

November 16, 2022 1056 Views 0 comment Print

Co-browsing, also known as collaborative browsing, allows the Helpdesk agents to collaborate with the taxpayer’s browser in real-time, just at the click of a button. Agents can view and securely co navigate the Taxpayer’s browser screen and guide them interactively to deliver real-time and personalized support.

Gas lift/Gas spring merits classification under sub-heading 9401 9900

November 16, 2022 975 Views 0 comment Print

In re Gurmat Impex & Shipping Services (CAAR Mumbai) Gas lift/Gas spring merits classification under sub-heading 9401 9900 of the first schedule to the Customs Tariff Act, 1975. FULL TEXT OF ORDER OF CUSTOMS AUTHORITY OF ADVANCE RULING, MUMBAI M/s. Gurmat Impex & Shipping Services (hereinafter referred to as ‘applicant’) has filed the present advance […]

Rough/semi-finished castings merit classification under Heading 8477

November 16, 2022 828 Views 0 comment Print

As per the explanatory notes to Heading 73.25 which provides for exclusion of ‘castings which are products falling in other headings of the Nomenclature (e.g., recognizable parts of machinery or mechanical appliances) or unfinished castings which require further working but have attained the essential character of such finished products, the subject goods do not merit classification under Heading 7325.

Nexus between input and output service not required for claiming refund u/s 5 of CCR, 2004

November 16, 2022 1092 Views 0 comment Print

CESTAT Mumbai held that amended rule 5 of CENVAT Credit Rules, 2004 prescribes the formula for claiming refund of service tax by the service provider. Under such amended rule in vogue, there is no requirement of satisfying the nexus between the input service and the output service and hence order rejecting refund claim for the finding on nexus is not in accordance with law.

What is ULIP & How to Maximise Returns? Five Tips for Successful Investment

November 16, 2022 1182 Views 0 comment Print

As individuals, one of our most important financial responsibilities is to grow our wealth. In order to grow wealth, it is important to make smart financial decisions.

CENVAT Credit based on incomplete debit note is not eligible

November 16, 2022 765 Views 0 comment Print

CESTAT Chennai held that as the debit note doesnt contain the nature of taxable service provided by the other party to the appellant, such debit note cannot be considered a valid document as per Rule 9 of CCR, 2004 and hence CENVAT Credit ineligible.

Impact of SEBI (Listing Obligations & Disclosure Requirement) Sixth Amendment

November 16, 2022 2130 Views 0 comment Print

Explore the impact of SEBIs Sixth Amendment to Listing Obligations and Disclosure Requirements, focusing on changes in independent director appointments, financial statements, and disclosure norms. Gain insights into regulatory enhancements shaping corporate governance.

Search Post by Date
July 2024
M T W T F S S
1234567
891011121314
15161718192021
22232425262728
293031