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Archive: 16 March 2023

Posts in 16 March 2023

KINLEY water classifiable as water & not aerated/ mineral water & eligible for sales tax exemption

March 16, 2023 2370 Views 0 comment Print

Orissa High Court held that sale of packaged drinking water in the brand name KINLEY WATER falls within the expression water but not aerated or mineral water sold in bottles or sealed containers” hence classified under entry no. 39 of Schedule of Goods declared Exempted from levy of sales tax

Power under PMLA to attach property ceases if liquidation order already passed

March 16, 2023 1704 Views 0 comment Print

Himachal Pradesh High Court held that PMLA [Prevention of Money Laundering Act, 2002] would cease the power to attach the property when the order of liquidation has already been passed.

Reference to DVO for correct fair market value mandatory if requested by assessee

March 16, 2023 3927 Views 0 comment Print

ITAT Mumbai held that even after request from assessee to refer DVO for correct fair market value of the subject property, AO was duty-bound to refer the same to DVO. Accordingly, matter remanded back with a direction to refer the matter to DVO and decide the issue.

TRAI directs Access Providers to stop misuse of Headers & Message Templates

March 16, 2023 909 Views 0 comment Print

TRAI issues Directions to Access Providers to stop misuse of Headers and Message Templates, and to curb unauthorized promotions using telecom resources under TCCCPR-2018 To curb messages from unauthorized or unregistered telemarketers, including telemarketers using telephone numbers, Access providers have been directed to bar all Telemarketers, who are not registered on Distributed Ledger Technologies (DLT) […]

Income Tax Deduction in respect of Contribution to Political Parties

March 16, 2023 6237 Views 1 comment Print

Discover tax deductions for contributions to political parties under Sections 80GGB & 80GGC of the Income Tax Act, 1961, including eligibility criteria and quantum of deductions.

SVLDR Scheme: HC allows payment after 30.06.2020 (due date) as challan was expired

March 16, 2023 2448 Views 0 comment Print

Innovative Antares Pvt. Ltd. Vs Union of India (Bombay High Court) Rejects Revenues contention that the payment could not be made beyond 30.06.2020 (due date). Rejects Revenues contention that the SVLDR Scheme is over The petitioner was a trader and service provider. It filed declaration under the SVLDR Scheme. The Form 3 was issued calling […]

Penalty on Company for not affixing its name in conspicuous position

March 16, 2023 7386 Views 0 comment Print

During inspection, the 1.0 physically visited the registered office of the company on 09.08.2019 and found that company had not affixed or paint its name in conspicuous position accordance to the provisions of Section 12(3)(a) which shows that company has made the violation of section 12(3)(a) of the Companies Act, 2013.

Must-Know Tax Planning Strategies for Indian Business Owners

March 16, 2023 6444 Views 0 comment Print

Discover essential tax planning strategies for Indian business owners, including choosing the right entity, maximizing deductions, and utilizing tax-saving schemes to minimize tax liability.

Approaching court without allowing department to consider defence reply and afford hearing is not in accordance with law

March 16, 2023 1116 Views 0 comment Print

Madras High Court held that approaching court directly against the impugned notice without allowing department to consider the defence reply and providing opportunity of hearing is not in accordance with law. Accordingly, court directed petitioner to appear for personal hearing before respondent.

TDS u/s 195 not deductible as payment doesn’t qualify under fees for technical service

March 16, 2023 2238 Views 0 comment Print

ITAT Bangalore held that payment made towards service charges to CGTM France doesnot fall under the category of fees for technical service. Accordingly, TDS u/s 195 of the Income Tax Act not deductible.

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