GPS in new smart mobile handset.—With effect from the 1st January, 2018, no smart phone handset manufacturing company shall sell the new smart mobile phone handset in India without the facility of identifying the location through Satellite based GPS
ACIT Vs Krishna C. Tandon (HUF) (ITAT Mumbai) In this case penalty proceedings were initiated during quantum assessment for furnishing of inaccurate particulars. The assessee contested the same on the premises that full particulars were furnished in the return of income and there was no concealment of income and mere change of head of income […]
In exercise of powers conferred by Section 3 of the Foreign Trade (Development & Regulation) Act, 1992 (No. 22 of 1992), as amended, read with Para 1.02 of the Foreign Trade Policy, 2015-20, the Central Government hereby makes the following amendment, with immediate effect, in Notification No. 29/2015-20 dated 24.12.2015 relating to export of onion.
The region wise jurisdiction of corporate cases updated on the website of Insolvency and Bankruptcy Board of India (www ibbi.gov in) from 01-11-2017 till 20-11-2017 has been ascertained from the CBN query in AIS module available in ITD and is enclosed herewith in Annexure-1 for necessary action at the end of the Assessing Officers
The learned Commissioner (Appeals) is not justified in rejecting the contention of the appellant that since the reason on which the proceedings under section 147 ceased to exist, the assessing officer is not justified in making additions on other issues.
All varieties of pulses, including organic pulses, have been made ‘free’ for export without any quantitative ceilings, till further orders. However, for export through non-EDI Land Custom Stations (LCS), the exporter will have to do prior-registration of quantity with DGFT.
Section 44BB of the Act is a special provision for computing profits and gains in connection with the business of exploration of mineral oils. Its purpose was explained by the Department vide its Circular No. 495 dated September 22, 1987, namely,
The contract of guarantee does not give any rise to principal – agent relationship between the assessee and the bank and, therefore, the consideration received by the bank on account of guarantee commission cannot be reckoned as commission as contemplated under section 194H and accordingly, there was no requirement to deduct TDS on this payment.
Explore the ITAT Delhi’s decision on Anant Concrete Products Pvt. Ltd. vs ITO, highlighting jurisdictional issues in the reassessment process. Learn how the lack of proper jurisdiction impacts the validity of re-assessment.
Respondent was required to consider as to merely because the notified party in the commercial invoice contains an address in Chennai, can the transaction be suspected to be one for sale within the State of Tamil Nadu. In fact, when the Detention Notice was issued on suspicion, there was no tangible material available with the officer to suspect that the imported goods were intended for sale in Tamil Nadu.
