RBI in the year 2010 came out with the circular[1] according to which all NBFCs were required to provide current and historical data on borrowers to Credit information Companies (CICs). Now vide notification[2] dated January 28,2015, RBI has exempted NBFCs which are registered as Core Investment Companies and those not having any customer interface from […]
Effect of Public Notice: Product description and ITC HS codes of certain items mentioned in Appendix 37-A, Vishesh Krishi Gram Udyog Yojana (VKGUY) Table 2 of HBP v1 have been amended to bring more clarity. The benefits of VKGUY on exports made between 25th February 2014 and the date of issue of this Public Notice, for items mentioned at Sl. No. 2 and 3 of this Public Notice, shall be admissible on the basis of product description alone, irrespective of ITC (HS) Code mentioned in the shipping bill.
the First Schedule of the Customs Tariff Act, 1975 (the Customs Tariff Act) when imported into India under the Urea Off-take Agreement (UOTA) dated May 29, 2002, between the Government of India and Oman-India Fertilizer
I, Sanjeev Khirwar, Commissioner, Value Added Tax, do hereby extend the last date of filing of online/hard copy of third quarter return for the year 2014-15, in Form DVAT-16,DVAT-17 and DVAT-48 along with required annexures/enclosures to 15/02/2015.
I, Sanjeev Khirwar, Commissioner, Value Added Tax, do hereby extend the last date of filing of online return in Form 9 for the year 2013-14, prescribed under Rule 4 of Central Sales Tax (Delhi) Rules, 2005 to 31/03/2015.
In exercise of the powers conferred by clauses (b) and (c) of sub – section (1) of section 7 of the Customs Act, 1962 (52 of 1962), the Central Board of Excise and Customs hereby makes the following further amendments in the notification of the
In the instant case, the revised return of income was filed within the time prescribed u/s 139(5) of the Act. Even though the assessed filed the revised return of income after the receipt of notice u/s 143(2) of the Act, yet the admitted fact remains that the assessing officer did not seek any type of particulars in that notice.
Since there is no mention of the approval sought from the CIT on the reasons, as recorded by the AO to initiate reassessment proceedings, the entire initiation has been vitiated and become bad in law.
Uniformity in treatment at the hands of law is a basic premise of Rule of Law. We trust that the Revenue would take appropriate steps to ensure that the aforesaid directions be implemented in all subsequent matters which are pending Admissions before this Court.
erely stating that the tax effect was low in an earlier order resulting in not filing of an appeal across the bar, without the same being specifically put in affidavit or in the appeal memo cannot be accepted. This manner of filing of appeals enables the revenue to pick and choose orders from which appeals are preferred and from which the appeals are not preferred rendering to a naught equal application of law on all.
