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Revision order by CIT invalid if AO taken a possible view that transactions were genuine

April 21, 2021 1221 Views 0 comment Print

Hill Queen Investment (P) Ltd. Vs PCIT (ITAT Kolkata) In this case issue is whether the ld. Pr. CIT is correct in invoking his powers u/s 263 of the Act. In our considered view, the Assessing Officer has called for and verified all the details and documents in connection to the purchase and sale of […]

Relax GST Compliance dates, due to Outbreak of Covid 19

April 21, 2021 56079 Views 6 comments Print

The Western Maharashtra Tax Practitioners’ Association has written a letter to FM and expected  Urgent Relaxation in GST Compliance due to Outbreak of Covid19 again in whole country.They requested that Due Dates For March 2021 Of All GST Returns be extended, OTP Based GST Return Filing And Other Compliance, Should Be Allowed For All Kinds […]

FSSAI issue directions for facilitating food businesses during COVID-19

April 20, 2021 1452 Views 0 comment Print

To facilitate the continuity of food business operations during the prevailing COVID-19 outbreak, the Food Safety & Standards Authority of India (FSSAI) has taken immediate steps to ensure uninterrupted food services/supply during the current scenario.

Business promotion expenses allowable despite no increase in Sales

April 20, 2021 8505 Views 1 comment Print

Unicity Health Private Limited Vs ITO (ITAT Bangalore) Admittedly, the business promotion expenses have been incurred for the purpose of improving sales of the assessee. There is merit in the submission of Ld. A.R. that the question of applying bright line test does not arise in the facts of the present case. Every businessman would […]

JNCH: Submission of documents for specified items of work through e-mail

April 20, 2021 1329 Views 0 comment Print

OFFICE OF THE PR. COMMISSIONER OF CUSTOMS (NS– I), APPRAISING MAIN (IMPORT) JAWAHARLAL NEHRU CUSTOM HOUSE, SHEVA, TAL- URAN, DISTRICT- RAIGAD, MAHARASHTRA-400707 (email : [email protected] Telephone No: 022-27244979) फा सं/FN. S/22-Gen-20/2020-21/AM (I)/JNCH Dated: 20.04.2021 PUBLIC NOTICE NO. – 35/2021 DIN- 20210478NW000061186E Subject: Submission of documents for specified items of work through e-mail- a measure to minimize human […]

IRDAI (Manner of Assessment of Compensation to Shareholders or Members on Amalgamation) Regulations, 2021

April 20, 2021 714 Views 0 comment Print

These regulations may be called the Insurance Regulatory and Development Authority of India (Manner of Assessment of Compensation to Shareholders or Members on Amalgamation) Regulations, 2021.

Foreign currency is not a commodity for Section 43(5) of Income Tax

April 19, 2021 1698 Views 0 comment Print

ACIT Vs M/s. Lifestyle International (P) Limited (ITAT Bangalore) The brief facts in relation to the above ground is that the assessee had imported certain trade merchandise from parties located outside Payments to such foreign vendors is required to be made in future on specified dates in foreign currency. The assessee had also obtained foreign […]

Extended period of demand not invokable if no mala-fide intention or suppression of fact by assessee

April 19, 2021 2433 Views 0 comment Print

Explore the Patel Labour Contractor vs C.S.T. Service Tax case (CESTAT Ahmedabad) where legal nuances and interpretations led to a time-barred service tax demand. Understand key arguments and precedents.

Initiation of Sunset Review investigation on imports of ‘Axle for Trailers’ from China

April 19, 2021 354 Views 0 comment Print

Case No. AD (SSR) – 7/2021 Initiation of Sunset Review investigation concerning imports of ‘Axle for Trailers’ from China PR. The Applicant has alleged continued dumping & injury and likelihood of dumping and injury in case of expiry of existing anti-dumping duties and have requested for initiation of sunset review and continuation of the anti-dumping duty (ADD) imposed on the imports of the subject goods originating in or exported from the subject.

Interest Rate on General Provident Fund for Q1 of FY 2021-22

April 19, 2021 24111 Views 0 comment Print

Rate of Interest on General Provident Fund (GPF) and other similar funds including Special Deposit Schemes, 1975 (SDS, 1975) for non-Government Provident, Superannuation and Gratuity Funds for first Quarter of financial year 2021-22.

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