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Alternative remedy of statutory appeal must be availed before filing Writ in HC

October 25, 2018 810 Views 0 comment Print

Once the petitioner has got efficacious alternative remedy of statutory appeal, the same ought to have been availed by it before invoking the writ jurisdiction of this Court.

GST on man-made textile Non-Woven Geo bags from Polypropylene

October 25, 2018 2541 Views 0 comment Print

In re Manas Geo Tech India Pvt. Ltd (GST AAR Haryana) Whether this man-made textile Non-Woven Geo bags from Polypropylene are classified under heading – 6305 having description SACKS & BAGS OF TEXTILE MATERIAL FOR PACKING GOODS – of Man-made textile materials; — 63053300- Other, of polypropylene strip or the like CHAPTER 63 of the […]

Reg. Anti-dumping duty on Saccharin exported from China PR

October 25, 2018 933 Views 0 comment Print

To briefly recapitulate, anti-dumping duty on Saccharin originating in and exported from China PR was imposed vide notification No. 41/2007 -Customs (ADD) dated 19.03.2007 for five years. These duties were extended vide notification No. 7/2012-Customs (ADD) dated 13.01.2012 for a period of five year following a sunset review initiated by the Director General of Trade Remedies (DGTR).

Master Direction – Fit and Proper Criteria for Sponsors – Asset Reconstruction Companies (Reserve Bank) Directions, 2018

October 25, 2018 1341 Views 0 comment Print

Reserve Bank of India RBI/DNBR/2018-19/66 Master Direction DNBR. PD (ARC) CC. No. 06/26.03.001/2018-19 Dated: October 25, 2018 The Chairman / Managing Director / Chief Executive Officer All registered Asset Reconstruction Companies Dear Sir/ Madam, Master Direction – Fit and Proper Criteria for Sponsors – Asset Reconstruction Companies (Reserve Bank) Directions, 2018 In exercise of the […]

Fire Audit of Currency Chests – Clarification

October 25, 2018 1284 Views 0 comment Print

We have been receiving references from various banks about non-availability of staff in State / District Fire Departments for getting the periodical fire audit conducted in their respective currency chests.

Revised Form 13 & Procedure for Lower/ Nil Rate TDS/ TCS certificate

October 25, 2018 98481 Views 8 comments Print

In exercise of the powers conferred by sections 197 and 206C read with section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely

Home Buyer cannot reap benefits of her own delay in taking possession: SC

October 25, 2018 1245 Views 0 comment Print

M/s. Supertech Ltd. Vs Rajni Goyal (Supreme Court) The Appellant – Builder inter alia submitted that – Possession of the flat was offered to the Respondent – Purchaser in December 2015 after obtaining the Completion Certificate for the building. Even though the Agreement provided for delivery of possession by 31.10.2013, the delay occurred because of […]

MVAT: Extension of time limit for remand back cases for fresh Assessments

October 24, 2018 10281 Views 0 comment Print

Section 23 of the Maharashtra Value Added Tax Act, 2002 (Mah. IX of 2005) contains the provisions regarding assessment of the value added tax levied under the said Act.

It cannot be said that Land was not compulsorily acquired merely because Price was negotiated

October 24, 2018 651 Views 0 comment Print

ACIT Vs Smt. Jayasree Sreedharan  (ITAT Cochin) In the instant case, the entire procedure prescribed under the Land Acquisition Act was followed, the only price was fixed upon a negotiated settlement. Therefore, in view of the above judgment of the Hon’ble Apex Court (supra), we hold that the acquisition of the urban agricultural land was […]

AO could not insist on Any particular method for Valuation of shares

October 24, 2018 3258 Views 0 comment Print

DCIT Vs Ozoneland Agro (P) Ltd. (ITAT Mumbai) In this AO had ‘tampered’ with provisions of the Act. It was beyond jurisdiction of AO to insist upon a particular system, which especially allows assessee to choose one of the two methods. Until and unless legislature amends provision of the Act and prescribes only one method […]

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