ITO Vs Bajaj Roadways (ITAT Kolkata) Revenue’s substantive ground seeking to revive unexplained cash credit addition of Rs.64, 10,000/- in assessee’ s partners’ capital Suffice to say, various judicial precedents have settled the law that such addition has to be made in the concerned partners’ hands than in case of a firm assessee. We quote one […]
M/s. KGL Network (P) Ltd. Vs ACIT (ITAT Delhi) Assessee-company made payments on behalf of its clients as Clearing and Forwarding (C&F)Agent which were reimbursed to the assessee-company. The assessee-company did not make claim of deduction in the P & L A/c. Similar claim of assessee-company has been allowed in earlier and subsequent year, therefore, rule […]
Insurance Companies shall carry out the following in respect of Motor Third Party Insurance covers for new cars and new two- wheelers with effect from 1St September, 2018: (i) Offer only three-year Motor Third Party Insurance covers for new cars and five-year motor third party insurance policies for new two-wheelers.
S.O. (E): In exercise of powers conferred by Section 3 of FT (D&R) Act, 1992, read with paragraph 1.02 and 2.01 of the Foreign Trade Policy, 2015-2020, as amended from time to time, the Central Government hereby notifies amendment to the Notification No.25/2015-2020 dated 17th August, 2018 vide which import policy of Petcoke under HS codes 2713 11 00, 2713 12 00, 2713 20 00 and 2713 90 00 were “Prohibited”.
Central Government hereby amends the export policy of biofuels under Chapter 27 of ITC (HS), 2018, Schedule – 2 (Export Policy). Export Policy of bio-fuels is revised from ‘Free’ to ‘Restricted’ as per the National Policy on Biofuels – 2018. Notification No. 29 /2015-2020 Dated 28 August, 2018 Government of India Ministry of Commerce & Industry […]
However, it is noted that new IEC allottees who have printed their electronic copy of IECs without any photograph on the IECs are facing difficulties in obtaining Registration cum Manufacturers Certificate (RCMCs) from the Export Promotion Councils (EPCs). It has been brought to notice that EPCs are not entertaining the applications for RCMC without photographs on the IEC.
It is, reiterated that cases falling under the category of Policy Circular 5 (2013)/2009-14 dated 14.08.2013 may be redeemed on the SARs furnished by Spices Board, Cochin as has been the practice in the past. RAs need not send such applications (where spices are inputs) to NC in the Hqrs for fixation of ad-hoc norms. […]
M/s Hindustan Coca Cola Beverages Pvt. Ltd. Vs Commissioner of Central Excise (CESTAT Hyderabad) The facts of the case in dispute are that the appellant availed on common input services and goods and obtained to the services reversed under Rule 6(3A). The only questions to be decided are a) whether the value of the goods […]
Jain Studios Ltd. & Anr. Vs DCIT (ITAT Delhi) Mere making of a claim which had not been accepted, would not per se tantamount to furnishing of inaccurate particulars to attract penalty proceedings under section 271(1)(c) of Income Tax Act, 1961. Bare perusal of explanation furnished by the assessee went to prove that it had come up […]
In re Eapro global limited (GST AAR Uttarakhand) Component of solar power generation system and nature of supply thereof, whether mixed or composite and rate of tax there on? (i) Supply of solar inverter, controller, battery and panels would covered under “Solar Power Generating System” as a whole in terms of serial no. 234 of […]
