Central Government hereby notifies the dealers in precious metals, precious stones as persons carrying on designated businesses or professions — if they engage in any cash transactions with a customer equal to or above Rupees ten lakhs, carried out in a single operation or in several operations that appear to be linked.
These rules may be called the Prevention of Money-laundering (Maintenance of Records) Fourth Amendment Rules, 2020. (2). They shall come into force on the date of their publication in the Official Gazette.
Manjula Finance Ltd Vs ITO (ITAT Delhi) It is an undisputed fact that the assessee being the absolute owner of the shares gifted , had full enjoyment rights including to alienate, discard and even demolish, unless prohibited by some statutory provisions, it is within the powers of the assessee to make gift at its free […]
Capital Infra Projects Pvt Ltd Vs DCIT (ITAT Delhi) The quarrel is in respect of loan received from M/s Pabla Leasing and Finance Pvt. Ltd amounting to Rs. 3 crores in each A.Y treated by the Assessing Officer as unexplained cash credit and, accordingly, additions have been made under section 68 of the Act. The […]
Hyderabad Chartered Accountants’ Society has requested for extension of various due dates under Income-tax Act, 1961 for AY 2020-21 and for filing the Annual Reconciliation Statement (GSTR 9C) along with the annual return (GSTR 9) for financial years 2018-2019 & 2019-2020. Full text of their representation to finance minister is as follows:- Hyderabad Chartered Accountants’ […]
Appointment of Observer in terms of Hon’ble Supreme Court order regarding e-voting of unit holders of the six schemes of Franklin Templeton Mutual Fund.
Atotech India Pvt. Ltd. Vs DCIT (ITAT Delhi) TP Adjustment: Payment made for management related activities under CSA- ITAT remanded the issue back to AO We find that the only controversy involved in all the assessee’s appeals is with regard to payment made for management related activities under CSA which has been taken at ‘Nil’ […]
MCA amends FORM NO. SH-7 – Notice to Registrar of any alteration of share capital vide Notification No. G.S.R. 794(E) dated 24.12.2020 and Companies (Share Capital and Debentures) Second Amendment Rules, 2020. Form is notified Pursuant to section 64(1) of the Companies Act, 2013 and pursuant to rule 15 of the Companies (Share Capital and […]
ITAT has erroneously concluded that the miscellaneous application filed by the petitioner was barred by limitation under Section 254(2) of the Act inasmuch as the petitioner had filed the miscellaneous application within six months of actual receipt of the order.
ACIT Vs. Brindavan Agencies Pvt. Ltd. (ITAT Delhi) It is seen that the appellant has filed sufficient documents e.g. Permanent Account Numbers, bank statements, etc. to establish the identities of the four share applicants. The copies of the bank statements of the share subscribers wherein the transactions are reflected as well as the fact that […]
