In view of these glaring facts, the assessment of Smt. Jaya Agrawal and the fact that the relevant purchases for AY 2004-05 have been held to be genuine, we see no infirmity in the order of ld. CIT(A) in deleting these additions. On the issues of Shri Chokshi, Mahasagar Securities Pvt. Ltd. and Goldstar Finvest Pvt. Ltd., a catena of judgments from ITAT, Mumbai and Ahmedabad is available in favour of the assessee which view also stands confirmed by Hon’ble Bombay High court in the case of Shri Mukesh Moralia.
Govt’s measures to eliminate shadow economy and tax evasion are expected to have a positive impact on GDP and fiscal consolidation in long run
Amendments to the SEBI (Portfolio Managers) Regulations, 1993 to provide a framework for registration of fund managers for overseas funds, pursuant to introduction of Section 9A in Income Tax Act, 1961
Section 31 of proposed Model GST Act states that credit or debit notes will be raised by the supplier who has supplied such goods and / or services.
Return is an important tool to collect the financial data and other related information, so as to enable the Department to have a concrete database for enforcing the compliance part. Thus, return process has become a powerful tool to implement the ‘data and revenue’ collection system.
In exercise of the powers conferred by sub-section (1) of section 5A of the Central Excise Act, 1944 (1 of 1944), the Central Government, being satisfied that it is necessary in the public interest so to do, hereby makes the following further amendment in the notification of the Government of India in the Ministry of Finance (Department of Revenue) No. 2/2011-Central Excise, dated the 1st March, 2011, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide G.S.R. 117 (E), dated the 1st March, 2011.
Seeks to levy definitive anti-dumping duty on import of ‘Jute Products’ viz. Jute Yarn/Twine (multiple folded/cabled and single), Hessian fabric and Jute sacking bags from Bangladesh or Nepal for a period of five years (unless revoked, superseded or amended earlier)
In a post-Liberalization environment, Indian Diaspora was willing to engage back with their country of origin. India becoming an IT power hub, fast growing economy and atomic power gave the Diaspora much needed confidence.
Department of Expenditure, Ministry of Finance takes various initiatives to promote use of mobile banking/e-banking technology for cashless transactions and e-payments in Central Government Ministries/Departments; Redresses 4475 out of 4508 grievances successfully under CPGRAMS;
The Union Finance Minister Shri Arun Jaitley holds Pre-Budget consultations with the Finance Ministers of all States/ UTs (with legislature)
