Notification No. 31/2022-Customs (ADD) [G.S.R. 890(E).] -
20/12/2022
Notification No. 31/2022-Customs (ADD), Dated: 20.12.2022 – Seeks to impose Anti-Dumping duty on Stainless-Steel Seamless Tubes and Pipes originating in or exported from China PR for a period of 5 years in pursuance of fresh final findings issued by DGTR. GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) NEW DELHI Noti...
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Late fee is charged on delay in filing of Original return and not revised return because revised return take the shoes of original return. But due to transformational changes in building new income tax website this section is overused i.e. it is levied while processing of revised return also in many cases....
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Late Fee interest u/s 234E of Income Tax Act – for filling of TDS return prior to 01/07/2015 1. As per Section 200(3) of the Act read with Rule 31A of the Income Tax Rules, 1962 (hereinafter referred to as ‘Rules’) a tax deductor is required to file quarterly statement of such taxes deducted at […]...
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Notification No. 111/2022 - Customs (N.T.) [G.S.R. 891(E).] -
20/12/2022
Notification No. 111/2022 – Customs (N.T.) | dated 20th December, 2022 – Seeks to amend Notification No. 58/2021-Customs (N.T.), dated the 01.07.2021 under sub-section (2) of Section 151B of the Customs Act, 1962 to notify Agreement or Arrangement on Cooperation and Mutual Administrative Assistance (CMAA) in Customs Matter o...
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As held by the Apex Court in the case of Empire Jute Co. Ltd. vs Commissioner Of Income Tax – 1980 124 ITR 1 (SC), since there does not exist an all-embracing formula which can provide a ready solution to the problem; no touchstone has been devised and that every case has to be decided […]...
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It is widely assumed that individual Advocates and law firms, are exempt from the GST on legal services. However, the question of whether GST applies to lawyers, legal firms, and their services remains unanswered. When an Advocate or a law firm provides any type of legal service to a commercial entity with an aggregate turnover […]...
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DCIT Vs Girish R. Tanti (ITAT Rajkot) -
ITAT Rajkot held that in absence of any specific provisions under the Income Tax Act, notional income on advance cannot be brought to tax. Accordingly, addition deleted....
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Mathuraprasad C Pandey Vs Partiv Parikh (NCLAT Delhi) -
NCLAT Delhi held that as per provisions of section 31 of Insolvency & Bankruptcy Code, 2016, Adjudicating Authority is empowered to either accept or reject the resolution plan. Adjudicating Authority is not empowered to modify/ alter the conditions in the resolution plan....
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Birla Edutech Limited Vs ITO (ITAT Mumbai) -
ITAT Mumbai held that set-off of losses when there is a change in shareholding involves interpretation of various provisions and laws and hence it is not a mistake apparent from record. Accordingly, rectification power under section 154 cannot be invoked....
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Expenditure incurred for construction of a new facility and subsequently abandoned at Work-in-progress stage is allowable as Revenue Expenditure The Income Tax Appellate Tribunal, Hyderabad (“the ITAT”) in DCIT v. Omega Shelters Pvt Ltd [I.T.A. No. 612/Hyd/2017 dated October 31, 2022] held that expenditure incurred for construction of...
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