In line with decisions taken in high level meeting taken by Hon’ble PM, Notification No. 28/2021-Customs dated April 24, 2021 issued exempting Customs duty on medical grade Oxygen, Oxygen related equipments and COVID-19 vaccines till July 31, 2021. Also Read:PM chairs meeting on increase in supply of oxygen & related equipment MINISTRY OF FINANCE (Department […]
With the rise in internet user base and rapid increase in use of technology gambling being a state subject there is no other uniform law for gambling in India. Games likes dream 11, fantasy cricket, poker, rummy are played in huge numbers in India which impacts large number of people in India who are unemployed thus this results into crimes and suicide in this pandemic situation.The information technology Act, 2000 covers many cyber activities but fails to interpret this online gambling law. Gambling being an addictive government should make proper and uniform laws to control online gambling. Article covers various laws with respect to online gambling and recommendations to strengthen the legal framework.
Bundy India Limited Vs C.C.E. & S.T. (CESTAT Ahmedabad) Hon’ble Apex Court in the case of CORONATION SPINNING INDIA (Supra) has held that interest of refund on penalty is not admissible under Section 11BB. As a result I do not find the appellants are entitled to any refund of interest on penalty amount under Section […]
Paramjeeet Singh Vs ACIT (ITAT Delhi) It is pertinent to note that the assessee’s land was acquired by the Government and he received total compensation of Rs. 2,56,29,932/- from land acquisition officer Panchkula which include interest on enhanced compensation of Rs. 1,08,62,416/- and assessee claimed this interest received on enhanced compensation exempt under Section 10(37) […]
At present, the continuous high increase of covid cases across the Country is a matter of great concern for all of us. Even more worrying is that all the states have completely failed to stop the corona, due to which there is a famine of medical facilities across the country and people are moving from one place to another, pleading for help.
This is to notify that all types of training to be completed before appearing CMA Intermediate/ Final Examinations as applicable are hereby exempted only for June- 2021 Term of Examinations due to pandemic situation arising out of spread of COVID-19.
CBI ARRESTS THEN SUPERINTENDENT OF GST IN AN ONGOING INVESTIGATION OF A CASE The Central Bureau of Investigation has arrested the then Superintendent of GST, Hyderabad in an ongoing investigation of a case. CBI had registered a case on 08.07.2019 against the accused and his wife on the allegations of illicitly enriching themselves to the […]
There are reports of certain network providers (hospitals) charging high rates and insisting on cash payments from the policyholders for providing treatment to COVID-19 infected patients despite having cashless arrangement with Insurers.
Commercial Banks may pay dividend on equity shares from the profits for the financial year ended March 31, 2021, subject to the quantum of dividend being not more than fifty percent of the amount determined as per the dividend payout ratio prescribed in paragraph 4 of the said circular. Other instructions in the circular dated May 4, 2005 shall remain unchanged.
Raghuram Garikapati Vs DCIT (ITAT Hyderabad) The assessee’s sole substantive grievance raised in the instant appeal challenges correctness of both the lower authorities’ action imposing Section 271(1)(c) penalty of Rs.10,46,957/- pertaining to quantum addition arising from treatment of rental income (as to whether it came under the head ‘income from house property’ or ‘income from […]
