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Archive: 08 May 2023

Posts in 08 May 2023

SC directs Delhi Govt to contribute Rs 500 cr from ECC for Delhi -Meerut RRTS project

May 8, 2023 813 Views 0 comment Print

An application has been filed by the Government of NCT of Delhi for permission to utilize Rs.500 crores of Environment Compensation Charge (ECC) Fund towards the payment of Delhi -Meerut RRTS project.

Section 234A interest in case of return filed U/s. 148 leviable from date of Section 148 notice

May 8, 2023 15597 Views 0 comment Print

CIT(A) was not right in levying interest under Section 234A of the Act when the return was filed under Section 148 itself and therefore, the interest should be charged from the date of notice under Section 148 of the Act itself and not from the date of return filed under Section 139 or it is due date under Section 139.

No section 69A Addition on mere surmises, conjectures & hypothesis & in the year in which no asset etc is found

May 8, 2023 2085 Views 0 comment Print

DCIT Vs Shri Sanjay Singhal (ITAT Delhi) The undisputed fact is that the substantive as well as protective additions have been made u/s 69A r.w.s 115BBE of the Act. A bare perusal of the assessment order clearly shows that no money, bullion, jewellery or valuable article was found during search conducted on 07.04.2017 which is […]

GST Rate on Bonus for Employees of Company Providing Canteen Services paid by recipient

May 8, 2023 6396 Views 0 comment Print

Service recipient is claiming that, they have to charge @5% by considering the reimbursement of expenses as Part of Canteen Service and they are not ready to accept it as separate service.

18% GST Payable on Aluminium composite panel/sheet

May 8, 2023 2862 Views 0 comment Print

As the Aluminium Composite Panel/Sheet attribute most of its characteristics to the two aluminium sheets from which it is made, the ACP has to be classified under the tariff heading 7606 as per Rule 3(b) of the General Rules for the interpretation of the Customs Import Tariff Schedule read with Notification No.1/2017-Central Tax (Rate) dated 28th June,2017.

Input Tax Credit on construction of shed using pre-fabricated technology

May 8, 2023 13017 Views 0 comment Print

Appellant erects a warehouse using prefabricates structures. The overlying structure along with the land on which it erected constitutes the warehouse. The warehouse is meant for storage activity and therefore is associated with the beneficial enjoyment of the land on which it is constructed.

MCA Penalizes CFO for Holding Office in Multiple Companies

May 8, 2023 1764 Views 0 comment Print

Learn about the penalty imposed by the MCA on a CFO for violating company law by holding office in more than one company. Detailed analysis and implications provided.

Advance Ruling obtained by suppressing the facts is void ab initio

May 8, 2023 1182 Views 0 comment Print

Applicant has obtained the Advance Ruling by suppressing the facts and hence the Order issued in the reference 5thcited is liable to be declared as void ab initio.

How to choose the right personal loan? Check these six factors

May 8, 2023 1500 Views 0 comment Print

Personal loan is an unsecured credit option with no end use restrictions on its proceeds. It usually has quicker disbursal, making it an ideal choice for consumers having urgent financial requirements.

Examining the Effects of Competition Amendment Act 2023 on Business Operations in India

May 8, 2023 4107 Views 1 comment Print

According to the World Bank’s Doing Business 2020 report, India was ranked 63rd out of 190 countries, marking a significant improvement of 79 places since 2014. This progress can be attributed to a series of reforms implemented by the central government, including the Business Reform Action Plan (BRAP)

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