It was held that even if the shareholders are bogus, addition cannot be made in the hands of the assessee and addition can be made only in the hands of such bogus shareholders if their identity is known to the Department.
XL Laboratories Pvt. Ltd. Vs DCIT (ITAT Delhi) Although, the assessee was required to file the appeal in electronic form w.e.f., 01.03.2016, it is undisputed that at that particular time there were some technical glitches in the e-filing website of the Income Tax Department due to which the CBDT subsequently extended the time limit for […]
[Case No. AD (SSR)–04/2021Initiation of sunset review investigation concerning imports of PVC Flex Film originating in or exported from China PR
In partial modification of Clause 5 of Guidelines on introduction of short term health insurance policies providing coverage for COVID-19 specific diseases of Circular no: IRDAI/HLT/REG/CIR/156/06/2020 dated 23.06.2020 all insurers are permitted to offer and renew short term Covid specific health policies up to 30.9.2021.
The core issue before us to decide is the classification of the supply of software licence by the applicant i.e. whether it amounts to supply of goods or services. We observe that the software supplied by the applicant is a pre-developed or pre-designed software and made available through the use of encryption keys and hence it satisfies all the conditions that are required to be satisfied to cover them under the definition of ‘goods’,
Airports Economic Regulatory Authority of India (Amendment) Bill, 2021 proposes to amend the definition of major airport so as extend its scope to determine the tariff for a group of airports also, which will encourage development of smaller airports.
HLS Asia Ltd. Vs DCIT (ITAT Delhi) Prima facie after looking at provisions of Section 17 and the concept of Director under the Companies Act and thus has a relationship as an employee to the Company. Besides this, the fees which is termed as sitting fees is the part and parcel of remuneration of the […]
What is the reasonable apprehension with the authority is not disclosed in the order at Ext.P6(Series) or in the order at Ext.P9. Furnishing bank guarantee of about Rs.30 crores would certainly block that much amount from the business of the petitioner. The petitioner, on account of an order by the adjudicating authority has no remedy of appeal under Section 107 of the CGST Act in the matter.
SPAC stands for Special Purpose Acquisition Company, also popularly known as ‘Blank cheque companies’. SPACs are corporations that are designed to take companies public without going through the traditional Initial Public Offering (IPO) process.
On a review it has been decided that non-centrally cleared derivatives exposures will continue to be outside the purview of exposure limits till September 30, 2021.
