Assessing Officer was of the firm belief that operation of Explanation 7 to section 9(1)(i) of the Act is prospective, since it has been inserted by the Finance Act, 2015 and made effective from 01.04.2016 and, therefore, not applicable in the year under consideration.
DCIT Vs Infrasoft Technologies Ltd (ITAT Delhi) Undisputedly, during the year under assessment, the assessee has acquired certain business interest from M/s. KPIT Cummins Infosystems Ltd. for a consideration of Rs.19,02,00,000/- out of which an amount of Rs.6,52,80,577/- and Rs.10,89,60,000/- has been shown as goodwill and customer contract respectively. It is also not in dispute […]
Direct Taxes Professionals’ Association requested Hon’ble Finance Minister to allow filing of GSTR 9, 9A and 9C for the F.Y. 2018-19 at least till 31st December 2020 and to waive the late fees and penalty till then, extend time limit to claim credit on the invoices pertaining to FY 2019-20 as envisaged in Section 16(4) […]
Export policy of Nitrile/NBR Gloves exported under above mentioned HS Codes or any other HS Code is revised from Prohibited to Restricted category.
Ministry of Micro,Small & Medium Enterprises PRESS NOTE Ministry of MSME alerts the public at large about unauthorized and ill-intentioned activities of MSME Export Promotion Council Ministry takes strong note of mischievous activities of this organization projecting itself as part of the MSME Ministry Ministry denies its role or authorization in issuing of appointment letters […]
Ajit Singh Melhotra Vs ACIT (ITAT Indore) We find that the addition was made on the basis of admission of assessee’s son during the course of search. It was contended before us, that all these documents were properly recorded in the regular books of accounts of the persons to which these documents actually pertained. However, […]
Urmin Marketing P.Ltd. Now known as Unicorn Packaging LLP Vs DCIT (ITAT Ahmedabad) Vs DCIT (ITAT Ahmedabad) Scheme of the amalgamation can be approved under the provisions of section 2(1B) of the Act where shareholders holding not less than 75% in the value of shares of the amalgamating company become the shareholders of the amalgamated […]
Clarification regarding queries being received in respect of Special cash package equivalent in lieu of Leave Travel Concession Fare for Central Government Employees during the Block 2018-21.
Circular No. 47/2020-Customs F. No. 451/13/2020-Cus. V Government of India Ministry of Finance Department of Revenue Central Board of Indirect Taxes & Customs ************ North Block, New Delhi Dated 20th October 2020 To, All Principal Chief Commissioners/Chief Commissioners of Customs Principal Directors General/Directors General of Customs Principal Commissioners/Commissioner of Customs Subject: Contactless delivery of international […]
Foreign Direct Investment (FDI) is a major driver of economic growth and an important source of non-debt finance for the economic development of India. It has been the endeavor of the Government to put in place an enabling and investor friendly FDI policy.
