It has come to the notice of CBDT, through some media reports that Rs. 36 lakh have been recovered from a startup, namely, Travel Khana as part of recovery of outstanding demand on account of Angel Tax. It has been alleged that this was in violation of the CBDT instructions dated 24th December, 2018 pertaining to recovery of dues in Angel Tax cases.
Kerala State Screening Committee on Anti-profiteering Vs M/s Emke Silks & Garments Pvt. Ltd. (National Anti-Profiteering Authority) It is clear from the perusal of the facts of the case that the product i.e. Shirts (Design 689) was exempted from the Central Excise Duty, vide Notification No. 30/2004-CE dated 09.07.2004 and only attracted VAT @ 5%. After […]
Mother Dairy Fruit & Vegetable Pvt. Ltd. Appeal: AO Failed To Establish A Legal Basis For The Addition On Account Of Disallowance Of Interest Expense, When The Assessee Had Not Even Claimed It As Expenditure Or Deduction, Addition Unjustified
Lalit Agrawal Vs ICAI & ANR (Delhi High Court) Hon;ble Court is unable to accept the contention that the Board of Discipline does not have the jurisdiction to examine the alleged misconduct which includes Sexual Harrassment on the part of the petitioner. Clause (2) of Part-IV of the First Schedule to the Act is wide, […]
Stove Kraft Pvt. Limited Vs Assistant State Tax Officer (Kerala High Court) Petitioner is a dealer. The goods and vehicle have been detained; in the e-way bill generated, petitioner has shown three invoices. Noting that separate e-way bill will have to be generated to each of the invoices, goods have been detained. It is to […]
Five Years Rigorous Imprisonment To Then Assistant Director Of Income Tax And A Private Person For Accepting Bribe Of Rs. One Lakh The Special Judge, CBI Cases, Dhanbad (Jharkhand) has sentenced Sh. Swarn Singh, then Assistant Director, Income Tax (Investigation), Dhanbad to undergo five years Rigorous Imprisonment with a fine of Rs. one lakh and […]
DLF Hotel Holding Case: Interest On Borrowed Funds Allowed As Deduction Under Section 36(1)(iii) Even If Some Of Funds Financed To Subsidiary Companies
Union Cabinet has given its approval to move official amendments to Banning of Unregulated Deposit Schemes Bill, 2018, pursuant to recommendations of Standing Committee on Finance (SCF).
Seeks to impose definitive anti-dumping duty on imports of “Non-Plasticized Industrial Grade Nitrocellulose Damped in Isopropyl Alcohol having Nitrogen content in the range of 10.7% to 12.2%” originating in or exported from Brazil, Indonesia and Thailand vide NOTIFICATION No. 7/2019-Customs (ADD) dated 7th February, 2019. GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE NOTIFICATION No. 7/2019-Customs […]
Announcement: Last Attempt of IIPCC under Old Scheme of Education and Training Students of Intermediate (Integrated Professional Competence) Course [IIPCC] may kindly note that as per the decision of the Council, the last examination attempt under Old Scheme of Education and Training has been extended from May 2019 to May 2020. Therefore, students of IIPCC […]
