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Implementation of Sea Cargo Manifest and Transhipment Regulations (SCMTR), 2018

February 12, 2021 6015 Views 0 comment Print

Office of The Commissioner of Customs (General) Mumbai Customs, Zone II, Nhava Sheva F.No.: S/3-Gen-92/ 2019-20/IN/JNCH DIN No: 20210278NW0000888C15 Date: 12.02.2021 PUBLIC NOTICE NO. 16/2021 Subject: Implementation of Sea Cargo Manifest and Transhipment Regulations (SCMTR), 2018 – reg Attention of all Port Terminals, Shipping lines, Shipping Agents, Transhippers, Custodians, Freight forwarders, Customs Brokers, Importers, Exporters, […]

ICAI Technical Guide On Valuation (Revised Edition 2021)

February 12, 2021 2457 Views 0 comment Print

The happenings around the globe in the recent periods have brought about an accentuated appreciation of the implications of changing times. Immediately after the spread of COVID-19 was identified and reported in the months of March and April 2020, the global markets saw a steep drop. The economic and social lockdowns that followed further led […]

Steps taken to help Pensioners during COVID-19 Pandemic

February 12, 2021 723 Views 1 comment Print

Department of Pension & Pensioners’ Welfare, since the lock-down on account of the unprecedented COVID-19 pandemic, has been taking various initiatives for the pensioners, to ensure the timely credit of pension & retirement benefits and keep them healthy and aware during this time of COVID-19 pandemic.

Section 271AAB Penalty can be levied only on undisclosed income

February 11, 2021 5676 Views 0 comment Print

For the levy of penalty u/s.271AAB, the case must fall within the four corners of the definition of expression ‘undisclosed income’ as defined u/s 271AAB itself.

HC Grants bail to person allegedly involved in Rs. 9 Cr GST Evasion

February 11, 2021 693 Views 0 comment Print

It is submitted that it is a case of total evasion of GST and disposing the manufactured goods without showing any record about its manufacturing activity and clandestine purchase of such products without paying of any GST has resulted in evasion to the tune of Rs. 9 Crores and odd

MCA notifies Chapter related to Producer Companies wef 11.02.2021

February 11, 2021 4677 Views 0 comment Print

MCA notifies 11th February, 2021 as the date on which the provisions of section 52 and section 66 of Companies (Amendment) Act, 2020 will come into force. Section 52 of Companies (Amendment) Act, 2020 inserts CHAPTER XXIA in Companies Act, 2013 (after section 378) related to PRODUCER COMPANIES. Section 66 of Companies (Amendment) Act, 2020 […]

Center for e-Governance, Karnataka to share Information with CBDT

February 11, 2021 1074 Views 0 comment Print

Order u/s 138 of the Income-tax Act, 1961 for sharing of information with Chief Executive Officer, Center for e-Governance, Govt. of Karnataka vide Notification No. 05/2021 dated 11th February , 2021. Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes ***** New Delhi, the 11th February , 2021 Notification No. […]

DGGI Gurugram arrests man for fraudulently availing ITC

February 11, 2021 915 Views 0 comment Print

DGGI Gurugram, Haryana, has arrested Shri Ritesh Aggarwal, resident of Bahadurgarh, Haryana on charges of passing and availment of fake ITC while operating dummy, fake and non-existent firms and encashing this unduly availed input tax credit (ITC) through IGST refund mode by showing export of cigarettes.

Time limit of reckoning for section 54 is to be read as 139(4) & not as 139(1)

February 10, 2021 4335 Views 0 comment Print

Harminder Kaur Vs ITO (ITAT Delhi) In the instant case, the assessee has claimed deduction under section 54 of the Act against booking of flat before the due date of filing of return under section 139(4) of the Act. The Assessing Officer and the Learned CIT(A) has denied the deduction on two grounds. Firstly, the […]

AO cannot simply deny claim of Assessee of use of premises for business without investigation

February 10, 2021 1221 Views 0 comment Print

ITAT rules in favor of Anilbhai Chunilal Bhayani, rejecting AO’s disallowance of transportation expenses. Assessee’s explanations and documents deemed sufficient.”

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