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Archive: April, 2023

Posts in April, 2023

Code on Wages (Central) Rules, 2020 – Centre and State – wise

April 16, 2023 9273 Views 0 comment Print

Explore the Code on Wages (Central) Rules, 2020: Insights into enforcement, minimum wages, working hours, and regional adaptations. Dive into state-wise analyses for a comprehensive understanding.

Standardized trigger point or not: Proposed IBC amendments at a glance

April 16, 2023 1482 Views 0 comment Print

Section 7 of the Insolvency and Bankruptcy Code, 2016, addresses the initiation of the corporate insolvency resolution process by the financial creditor.

Retirement Planning Options & Strategies: From PPF to NPS

April 16, 2023 2814 Views 0 comment Print

Discover key retirement planning options and strategies, from PPF to NPS. Explore government schemes, mutual funds, bank deposits, tax-free bonds, and SCSS. Secure your financial future today.

6 Step Guide To Register Start-Up In India

April 16, 2023 2244 Views 0 comment Print

Unlock the potential of your start-up with a 6-step guide to registering in India. Explore eligibility criteria, necessary documents, and the DPIIT recognition process.

Clandestine Removal of Goods – Absence of corroborative evidence – CESTAT deletes penalty

April 16, 2023 5043 Views 0 comment Print

Dipal Narendrabhai Shah Vs C.C.E. & S.T.-Bhavnagar (CESTAT Ahmedabad) These appeals are directed against the Order-In-Appeal whereby the Commissioner (Appeals) upheld the penalty imposed by the original authority under Rule 26 (1) of Central Excise Rules, 2002. The brief facts of the case are that all the appellants in the present appeals were allegedly involved […]

Addition without providing copies of seized materials – HC upheld deletion

April 16, 2023 1833 Views 0 comment Print

PCIT (Exemption) Vs Bishandayal Jewellers (Orissa High Court) Before the CIT(A), the Assessee claimed that the Assessing Officer (AO) had not given copies of the seized materials extracted from the hard disk and the pen drive. The CIT( A) called for a remand report from the AO. By the time, the remand report could be […]

Enhancement of holding tax: Orissa HC directs fresh adjudication

April 16, 2023 1656 Views 0 comment Print

There is no dispute through Annexure-1 that the earlier assessment assessing the Petitioner’s building by the Sambalpur Municipal Corporation as it was then operating raising the holding tax to Rs. 1,19,858/- and the proposal for further assessment is only made by way of notice dated 22.2.2023 enhancing the holding tax from Rs.1,19,858/- to Rs. 3,12,609/- per annum.

No service tax on Business Auxiliary Service utilized outside India to foreign principal

April 16, 2023 879 Views 0 comment Print

Service Tax not payable on ‘Business Auxiliary Service’ provided to a foreign principal, which has been utilized outside India

ITAT deletes penalty on estimated addition for alleged bogus purchases

April 16, 2023 3381 Views 0 comment Print

If sales are not disputed, entire alleged bogus purchases cannot be disallowed and only the gross profit on the alleged purchases to be disallowed. No penalty under section 271(1)(c) is leviable on estimated additions.

Utilise Your Sundays – Don’t Wait For Form-16

April 16, 2023 5511 Views 0 comment Print

Yes, the season for filing income tax returns is coming closure. Don’t wait for Form-16 and utilise your Sundays in accumulating the documents required for filing return of income.

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