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CBI Arrests A Deputy Commissioner & A Superintendent of Customs

November 5, 2020 1341 Views 0 comment Print

CBI Arrests Four Accused Including A Deputy Commissioner of Customs; A Superintendent & Private Persons In An on-Going Investigation of Two Separate Cases

Patents (2nd Amendment) Rules, 2020

November 4, 2020 1161 Views 0 comment Print

In case an application processed by a natural person or startup or small entity is fully or partly transferred to a person other than a natural person, startup or small entity, the difference, if any, in the scale of fees between the fees charged from the natural person, startup or small entity and the fees chargeable from the person other than a natural person, startup or small entity in the same matter, shall be paid by the new applicant with the request for transfer.

No Bank account seizure of petitioner if no material to implicate him in alleged fraudulent transaction

November 4, 2020 678 Views 0 comment Print

Glonia Impex Vs Assistant Commissioner (SIIB) (Kerala High Court) The petitioner who is stated to be a supplier of diamonds, and a registered dealer under the Goods and Service Tax Act, within the jurisdiction of Mumbai, states that he had supplied diamonds to M/s. Nebal Tradings during the period 2017-18 and 2018-19 and the said […]

No GST exception on supply to ‘M.P. DAY Rajya Gramin Ajivika Mission’ as applicant failed to furnish requisite information

November 4, 2020 1023 Views 0 comment Print

In re Centre For Entrepreneurship Development Madhya Pradesh (CEDMAP) (GST AAR Madhya Pradesh) it is evident that the work order is not issued by Jila Panchayat as claimed by the Applicant but has been issued by M.P. DAY Rajya Gramin Ajivika Mission. Therefore, services shall be deemed to be have been provided to M.P. DAY […]

CBIC notifies Rate of Exchange of Foreign Currencies wef 04.11.2020

November 3, 2020 624 Views 0 comment Print

CBIC notifies Rate of Exchange of Foreign Currencies against India Rupees wef 4th November, 2020 vide Notification No. 104/2020-Customs (N.T.), Dated: 3rd November, 2020. GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) (CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS) ***** Notification No. 104/2020 – Customs (N.T.) New Delhi, dated the 3rd November, 2020 12 Kartika […]

Statutory appeal remedy cannot be overridden by subordinate legislation providing for supplementary remedy

November 3, 2020 1170 Views 0 comment Print

Commissioner of Customs (II)  Vs Poonam Courier Pvt. Limited  (Bombay High Court) Remedy of appeal to the CESTAT is provided under section 129A of the Customs Act i.e., by the parent enactment. This right of appeal is a substantive right of an aggrieved person. It is not a matter of procedure but is a vested right […]

The A-Z of TDS

November 3, 2020 58065 Views 2 comments Print

When it’s Time for Your Employees to Pay Taxes, A Hundred Questions Fill Their Minds. How, How Much, Why to What, When and Why, Again. And Who Answers These Million Queries And More? You – The Deductor. He Who Calculates Taxes on Their Income and Makes Their Lives Easier, Month After Month, Year on Year. […]

FMV of shares: Jurisdiction of AO to reject valuation methods adopted by Assessee

November 2, 2020 2898 Views 0 comment Print

Canvera Digital Technologies Pvt. Ltd Vs DCIT (ITAT Bangalore) From the details filed, Ld.AO observed that, assessee had computed the value as per DCF method and that there was nothing to suggest that DCF method was an appropriate method to value the shares. Ld.AO rejected DCF method adopted by assessee for the reasons that cash […]

Income Tax Department conducts searches in Bihar

October 31, 2020 603 Views 0 comment Print

The Income Tax Department has carried out searches on 29.10.2020 in the cases of four prominent contractor groups based in Patna, Bhagalpur, Hilsa, and Katihar. In addition, surveys have been conducted on some traders of mined rocks in Gaya.

SC transfers to itself petitions challenging IBC provisions on personal guarantors

October 31, 2020 1071 Views 0 comment Print

IBBI Vs Lalit Kumar Jain & Ors. (Supreme Court) We are of the considered opinion that the Writ Petitions that are pending in the High Courts pertaining to the challenge to the Notification dated 15.11.2019 and related issues have to be transferred to this Court. Transfer of the Writ Petitions to this Court would avoid […]

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