The Central Board of Indirect Taxes and Customs (CBIC) notification no. 72/2021- Customs (N.T.) dated 13.09.2021, has declared Kushinagar Airport as a Customs notified airport. This would also facilitate international passenger movements including that of Buddhist pilgrims. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS) New Delhi, the 13th September, […]
CBDT notifies Income tax Rule 12F. Prescribed income- tax authority under second proviso to clause (i) of sub-section (1) of section 142 vide Notification No. 109/2021-Income Tax | Dated: 13th September, 2021. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) New Delhi Notification No. 109/2021-Income Tax | Dated: 13th September, 2021 G.S.R. […]
Code of Conduct and Code of Ethics for the Directors and Key Management Personnel (KMP) of recognized Market Infrastructure Institutions (MIIs) in GIFT-IFSC
Notification No. 42/2021-Customs– Seeks to amend the notification No. 50/2021-Customs dated 30.06.2017 and notification No. dated 11/2021 dated 01.02.2021 in order to reduce and rationalise the import duties on Palm, Sunflower and Soya-bean oils . MINISTRY OF FINANCE (Department of Revenue) New Delhi, the 10th September,2021 Notification No. 42/2021-Customs G.S.R. 624(E).—In exercise of the powers conferred by […]
DCIT Vs Mahalaxmi TMT Pvt. Ltd. (ITAT Pune) AO found that the assessee company was established dated 10 August 2004 i.e. during the financial year 2004-05 corresponding to the assessment year 2005-06 and it did not carry out any business activity till the year under consideration. Conversely, it has issued shares at a premium of […]
Insurance Regulatory and Development Authority of India (Insurance Information Bureau of India) Regulations, 2021 In exercise of the powers conferred by clauses (e) and (f) of sub section (2) of section 14 of Insurance Regulatory and Development Authority
Floral Realcon Pvt. Ltd. Vs National Faceless Assessment Centre (Delhi High Court) This Court is of the view that Section 144B(1)(xvi)(b) mandatorily provides for issuance of a prior show cause notice (SCN) and draft assessment order before issuing a final assessment order. Since in the present case the averment that no show cause notice as […]
INTERNATIONAL FINANCIAL SERVICES CENTRES AUTHORITY CIRCULAR IFSCA-PLNP/1/2021-Capital Markets/001 September 08, 2021 To, The entities required to pay fee to IFSCA Subject: Account Details for fee to be remitted to IFSCA The fee as specified in the relevant circular(s) of IFSCA need to be remitted to the following account of IFSCA in USD: Account Name: International […]
Hyosung Corporation Vs Union of India & Ors. (Delhi High Court) Learned counsel for the Department states that the petitioner has filed a rectification application in which a prayer for up-to-date interest has also been made. He assures and undertakes to this Court that the petitioner’s rectification application shall be decided within two weeks and […]
A few weeks back I had desired that the provisions of the recently amended Section 110 of the Customs Act, 1962 be used to expedite the pre-trial disposal of seized gold. It has been informed that DRI, IZU, has made a beginning by requesting the concerned Commissioner (Appeals) for sanction under Section 110 (1D) of the Customs Act, 1962. He has certified the correctness of the seized inventory of gold and facilitated its disposal. Other field formations may also follow suit.
