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Transfer/postings of 41 officers in the grade of Chief CIT

September 11, 2020 4092 Views 0 comment Print

Office Order No. 170 of 2020 Consequent upon diversion of posts for implementation of the Faceless Assessment Scheme, the transfer/postings of the following officers in the grade of Chief Commissioner of Income Tax, are hereby ordered with immediate effect and until further orders:

Transfer/postings of 6 officers in the grade of Pr. CIT

September 11, 2020 2226 Views 0 comment Print

Office Order No. 169 of 2020 On promotion, the transfer/postings of the following officers in the grade of Pr. Chief Commissioner of Income Tax/Pr. Director General of Income Tax, are hereby ordered with immediate effect and until further orders:

SEBI modifies scheme characteristics of Multi Cap Fund

September 11, 2020 801 Views 0 comment Print

In order to diversify the underlying investments of Multi Cap Funds across the large, mid and small cap companies and be true to label, it has been decided to partially modify the scheme characteristics of Multi Cap Fund

Compliance functions in banks and Role of CCO

September 11, 2020 3246 Views 0 comment Print

The following guidelines are meant to bring uniformity in approach followed by banks, as also to align the supervisory expectations on CCOs with best practices.

CBIC promotes 38 Officers to the grade of Principal Commissioner Grade

September 11, 2020 8388 Views 0 comment Print

The President of India is pleased to empanel and promote the following officers to the grade of Principal Commissioner of Customs and Central Excise in the Indian Revenue Services (Customs & Central Excise), in Level 15 of the Pay Matrix (Rs. 182200 – 224100/-), against the panel years 2019 (Supplementary) and 2020 (Regular) on in situ basis w.e.f the date of assumption of the charge of the post and until further orders:-

Value declared in Bills of Entry cannot be rejected without following Rule 12ibid

September 11, 2020 2412 Views 0 comment Print

Classic Marble Company Vs Commissioner of Customs (CESTAT Mumbai) In this case The learned adjudicating authority has rejected the declared value in respect of the subject Bills of Entry under Section 14(1) ibid read with Rule 12 ibid and re-determined the assessable value under Section 14(1) ibid read with Rule 3(1) ibid, holding that sufficient […]

Indian Boiler (Second Amendment) Regulations, 2020

September 11, 2020 11322 Views 0 comment Print

(1) These regulations may be called the Indian Boiler (Second Amendment) Regulations, 2020. (2) They shall come into force on the date of their publication in the Official Gazette.

No rectification of Advance Ruling if no error / apparent mistake

September 11, 2020 903 Views 0 comment Print

In re Durga Projects 86 Infrastructure Pvt (GST AAR Karnataka) We find that the applicant filed the instant application for ROM in the order No.17/2019 dated 25.07.2019, without bringing anything on record to negate the findings in the said order that the possession of land owner’s share of flats was not handed over to the […]

Finance Minister unveils Doorstep Banking Services

September 10, 2020 1677 Views 0 comment Print

Union Minister of Finance & Corporate Affairs Smt. Nirmala Sitharaman today inaugurated Doorstep Banking Services by PSBs and participated in the awards ceremony to felicitate best performing banks on EASE Banking Reforms Index.

Section 271(1)(c) penalty not leviable merely for non challenge to disallowance in Quantum Appeal

September 10, 2020 2574 Views 0 comment Print

DCIT Vs Maharashtra State Power Generation Co. Ltd. (ITAT Mumbai) When the assessee had came forth with the full disclosure of all the particulars in respect of its aforesaid claim of expense, which as observed by us hereinabove had not been proved to be incorrect by the lower authorities, therefore, merely for the reason that […]

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