Understanding Rule 127 of Income tax Rules, 1962. Learn how communication with assesse, including notices, summons, requisitions, orders, is made.
PCIT has given his own observation which amounts to review and change of opinion or review while exercising Section 263 is not permitted by the Income Tax Statute. Thus, the PCIT was not right in exercising Section 263 in assessee’s case.
CESTAT held that in respect of utilisation of Cenvat credit there is no requirement of one to one correlation and cross utilisation of credit is permissible.
Nai Dunia Media Pvt. Ltd. Vs Commissioner of Central Goods & Service Tax and Central Excise (CESTAT Delhi) Appellant urges that there is no dispute about the fact that the appellant have shared the electricity received from MPEB with Web Dunia, PPPL and others on proportionate (reimbursement) basis. Admittedly, the appellant has not generated electricity. […]
A conjoint reading of sub Section (1) (b) & (2) of Section 50 of Prevention of Money-Laundering Act, 2002 makes it abundantly clear that it is wide enough to authorize and empower Director or Additional Director to issue a summons to a person.
Aurolab Vs Commissioner of GST & Central Excise (CESTAT Chennai) The issue is whether the refund claim is hit by the bar of unjust enrichment. Undisputedly, the appellant has mentioned the duty element in the invoices issued to the buyers. The presumption envisaged in section 12B of Central Excise Act, 1944 then applies and the […]
Murli Industries Ltd. Vs Commissioner of Central Excise & Customs (CESTAT Mumbai) It is not disputed that the Resolution Plan for the appellant company was approved by Learned NCLT vide its orders dated 3.7.2019 and 22.7.2019. As per Section 31(1) of I&B Code, once a resolution plan is duly approved by the Adjudicating Authority, the […]
Sh. Jasdeep Singh Vs ITO (ITAT Delhi) Ld. Counsel for the assessee submitted that the assessee has furnished all the vouchers. He submitted that the Assessing Officer remarked that vouchers of Rs.5,31,271/- of Taj Mahal Hotel were not furnished is totally wrong as the same was duly furnished and there is no specific defect pointed […]
Draft IFSCA (Appointed Actuary) Regulations, 2022 regulations aim to lay down the regulatory framework for the persons who are authorised to perform the roles and discharge the functions of ‘Appointed Actuary’ for the IIOs.
Learn about the importance of appointing a Statutory Auditor for your company. Find out how to file e form ADT-1 and ensure compliance.
