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Writ petition becomes infructuous on expiry of Income Tax Provisional Attachment order

July 25, 2022 306 Views 0 comment Print

P C Financial Services Private Limited Vs Deputy Director of Income Tax (Delhi High Court) 1. Present application has been filed on behalf of the Petitioner seeking modification of the order dated 31st May, 2022 passed by this Court by relying on the order dated 31st May, 2022 passed by a learned Single Judge of […]

Penalty leviable for Misclassification of Goods with malafide intentions

July 25, 2022 4158 Views 0 comment Print

Scania Commercial Vehicles India P Ltd. Vs Commissioner of Customs (Import) (CESTAT Mumbai) In this case appellant had mis-classified the goods with an intention to evade payment of appropriate Custom duty. The appellant resorted to mis-classification / mis-declaration of description of goods showing number of packages as two instead of manifested number of packages as […]

SEBI (Listing Obligations and Disclosure Requirements) (Fifth Amendment) Regulations, 2022

July 25, 2022 2232 Views 0 comment Print

These regulations may be called the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) (Fifth Amendment) Regulations, 2022.

SEBI (Alternative Investment Funds) (Third Amendment) Regulations, 2022

July 25, 2022 1701 Views 0 comment Print

These Regulations may be called the Securities and Exchange Board of India (Alternative Investment Funds) (Third Amendment) Regulations, 2022.

Only profit element on Bogus purchases can be added to Income: HC

July 24, 2022 2565 Views 0 comment Print

Accepting the statement of the assessee that the addition be restricted to only profit element on the purchases efected by it, the CIT(A), restricted the addition by estimating profit of 12.5% on the total purchases in question.

Income Tax refund cannot be adjusted without prior intimation

July 24, 2022 2619 Views 0 comment Print

Revenue can set off/adjust amount to be refunded against the sum which remains payable under Income Tax Act by the person to whom the refund is due, after giving an intimation in writing

Vivad Se Vishwas Scheme: Revised declaration cannot be filed after acceptance of declaration by Designated Authority

July 24, 2022 2376 Views 0 comment Print

After acceptance of declaration by Designated Authority by issue certificate under Vivad Se Vishwas Scheme, revised declaration cannot be filed

CAIT requests for withdrawal of 5% GST on unbranded Food grains

July 23, 2022 2439 Views 1 comment Print

5% GST tax which has been in effect from 18th July, 22 to be applied on all prepackaged and pre-labeled food grains and other items in the country in pre-packing of 25 kg /25 liters or less, even if they are non­-branded.

PLI in White Goods a win-win for India, Industry and People: Shri Goyal

July 23, 2022 156 Views 0 comment Print

Shri Piyush Goyal asks White goods industry to become global champions; says PLI scheme meant to give only the initial push in that direction; PLI in White Goods a win-win for India, Industry and People: Shri Goyal Shri Goyal express happiness over success of the scheme; 61 companies set up components manufacturing plants at 111 […]

206 Crore released to States for promotion of exports under TIES scheme

July 23, 2022 228 Views 0 comment Print

Government is implementing Trade Infrastructure for Export Scheme (TIES) with the objective of assisting Central and State Government agencies in creation of appropriate infrastructure for growth of exports.

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