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FSS (Prohibition and Restrictions on Sales) Third Amendment Regulations, 2021

March 8, 2021 1647 Views 0 comment Print

(1) These regulations may be called the Food Safety and Standards (Prohibition and Restrictions on Sales) Third Amendment Regulations, 2021. (2) They shall come into force on 8th June, 2021.

HC issues COVID Guideline for compliance by all airlines & DGCA

March 8, 2021 768 Views 0 comment Print

The DGCA is directed to reflect, forthwith, on its website, prominently, the instructions containing the guidelines and protocols to be followed by passengers and in-flight crew in domestic flights. This shall be reflected on the main website of the DGCA, without requiring the person accessing the site to navigate through various links to reach the instructions.

IBBI Invites comments on Pre-packaged Insolvency Resolution Process

March 8, 2021 951 Views 0 comment Print

Public comments are hereby invited on recommendations of Sub-committee of ILC on Pre-packaged Insolvency Resolution Process. Suggestion/comments, if any, along with brief justification may be submitted online therein at the below mentioned web link by the end of business hours on 22nd January, 2021:

ITAT deletes substantive & protective additions for AMP expenditure

March 8, 2021 2451 Views 0 comment Print

Amadeus India challenges ITAT Delhi’s transfer pricing adjustment on AMP expenses and disallowance under section 14A. Full text of the ITAT order provided.

PVC tufted coir carpet/Mat classified under Tariff Heading 5703 90 90

March 8, 2021 1254 Views 0 comment Print

In re Eco Wood Private Limited (GST AAAR Kerala) The impugned goods viz. PVC tufted coir carpet/Mat is classified under Tariff Heading 5703 90 90 and is liable to GST at the rate of 12% as per SI No. 144 of Schedule II of Notification No. 01/2017-Central Tax (Rate) dated 28-06-2017 as amended. FULL TEXT […]

SC on possession date when builder keeps the same as indefinite

March 8, 2021 7164 Views 0 comment Print

NBCC (India) Limited Vs Ram Trivedi (Supreme Court of India) Where the agreement uses clever drafting language, such as the developer would ‘endeavour’ to hand over possession within a period of time from date of allotment, the Supreme Court in the case of NBCC (India) Limited v. Shri Ram Trivedi [Civil Appeal No. of 20 […]

AO can make addition u/s 68/69C despite estimation of Income U/s 44AF

March 8, 2021 2514 Views 0 comment Print

Atul Dinesh Seth Vs ITO (ITAT Bnagalore) The contention of the A.R. is that once the income of the assessee estimated by applying the section 44AF of the Act, there cannot be any further addition for any lapse in the books of accounts. In these assessment years, except AY 2011-12, the turnover of the assessee is […]

SC excludes period from 15.03.2020 till 14.03.2021 in Limitation Computation

March 8, 2021 28041 Views 1 comment Print

In Re: Cognizance For Extension of Limitation (Supreme Court of India) 1. In computing the period of limitation for any suit, appeal, application or proceeding, the period from 15.03.2020 till 14.03.2021 shall stand excluded. Consequently, the balance period of limitation remaining as on 15.03.2020, if any, shall become available with effect from 15.03.2021. 2. In […]

Order passed by AO not in conformity with directions of DRP is Invalid

March 8, 2021 4980 Views 0 comment Print

Yokogawa India Ltd. Vs ACIT (ITAT Bnagalore) Admittedly the impugned assessment order passed by the Ld.AO under section 143 (3) read with section 144C is in violation mandatory provisions under section 144C(10) and (13) of the Act by not passing the order in pursuance of and in conformity with the directions of DRP issued under […]

Reg. ICAI relaxation in Requirement To undergo 8 Months Study Period

March 6, 2021 1101 Views 0 comment Print

Board of Studies The Institute of Chartered Accountants of India 5th March, 2021 ANNOUNCEMENT Sub: Relaxation in the requirement to undergo 8 months Study Period to appear in November, 2021 Intermediate Examination in respect of students who had opted-out from November 2020 Examinations and opted for January 2021 examination after passing January, 2021 Foundation Examinations. […]

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