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Redemption Fine is covered under SVLDRS

February 27, 2020 2151 Views 0 comment Print

Messrs Synpol Products Pvt. Ltd. Vs. Union of India (Gujarat High Court) When the respondents had issued show cause notice demanding excise duty together with confiscation of the goods in terms of Rule 25 (a) and (d) of the Central Excise Rules, 2002 and redemption fine in lieu of confiscation under Rule-25 as goods were […]

Section 14A / Rule 8D(2) cannot be invoked for making disallowance u/s 115JB

February 27, 2020 2352 Views 0 comment Print

 Sri Vishnu Shankar Mill Vs ITO (ITAT Chennai) Section 14A read with Rule 8D(2) of the 1962 Rules cannot be invoked for making disallowance u/s 115JB of the 1961 Act but disallowance of expenses incurred relatable to earning of an exempt income is to be computed in accordance with Explanation 1(f) to Section 115JB of […]

NAA directs DGAP to Recompute Profiteered Amount in case of Portonics Digital

February 27, 2020 513 Views 0 comment Print

Shri Rahul Sharma Vs Portonics Digital Pvt Ltd. (National Anti-Profiteering Authority) Facts of the Case: The brief facts of the case are that an application dated 26.02.2019 was filed before the Standing Committee on Anti-profiteering, under Rule 128 of the CGST Rules, 2017 by the Applicant No. 1 which alleged that the Respondent had profiteered […]

AAR Application rejected as issue was already pending with Central Tax authorities

February 27, 2020 927 Views 0 comment Print

In re S.318 Rasipuram Agricultural Producers Co-operative Marketing Society Ltd (GST AAR Tamilnadu) As per the first proviso to Section 98(2) of CGST/TNGST Act 2017 the authority shall not admit the application where the question raised in the application is already pending or decided in any proceedings in the case of an applicant under any […]

Only a member of ICAI can file appeal before Appellate Authority

February 26, 2020 7686 Views 1 comment Print

Neville Nadir Mistry Vs Board of Discipline (Appellate Authority) only a member of the Institute can file an appeal before the Appellate Authority if he is aggrieved by any order as provided under Section 21 A(3) or Section 21B(3) of the Chartered Accountants Act, 1949. During the course of arguments, the complainant conceded that under […]

Relief in Average Export Obligation in terms of Para 5.19 of HBPs of FTP 2015-20

February 26, 2020 2037 Views 0 comment Print

Government of India Ministry of Commerce and Industry Department of Commerce Directorate General of Foreign Trade Udyog Bhawan, New Delhi ***** Policy Circular No. 31/2015-20 Dated 26th February, 2020 To, All Regional Authorities of DGFT /All Customs Authorities/FIEO/EPCs/All Concerned. Subject: Relief in Average Export Obligation in terms of Para 5.19 of Hand Book of Procedures […]

Implementation of Section 51A of UAPA, 1967 – Addition of two entries

February 26, 2020 738 Views 0 comment Print

Securities and Exchange Board of India Implementation of Section 51A of UAPA, 1967 – Addition of two entries to 1267/ 1989 ISIL (Da’esh) & Al-Qaida Sanctions List Press Releases No. 12/2020 1. Clause 2.8 of the SEBI Master Circular Guidelines on Anti-Money Laundering (AML) Standards and Combating the Financing of Terrorism (CFT) / Obligations of […]

Govt designates Special Court for Black Money cases in Punjab & UT of Chandigarh

February 26, 2020 795 Views 0 comment Print

Chief Justice of the Punjab and Haryana High Court, hereby designates the Court of Chief Judicial Magistrate in each Sessions Division in the States of Punjab and Haryana and the Court of Chief Judicial Magistrate in the Union Territory of Chandigarh

Companies (Auditor’s Report) Order, 2020 (CARO 2020)

February 25, 2020 304122 Views 9 comments Print

(1) This Order may be called the Companies (Auditor’s Report) Order, 2020. (2) It shall apply to every company including a foreign company as defined in clause (42) of section 2 of the Companies Act, 2013 (18 of 2013) [hereinafter referred to as the Companies Act], except–

Notification No. 17/2020-Csutoms (N.T.) dated 25th February, 2020

February 25, 2020 2175 Views 0 comment Print

Notification No. 17/2020-Csutoms (N.T.) in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Poppy Seeds, Areca Nut, Gold and Silver Government of India Ministry of Finance (Department of Revenue) (Central Board of Indirect Taxes and Customs) Notification No. 17/2020-CUSTOMS (N.T.) New Delhi, 25th February, 2020 6 Phalguna, 1941 (SAKA) S.O. 855(E).:- In […]

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