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FAQs: Unable to print E-Way Bill & unable to login to E way bill portal

May 3, 2018 16011 Views 1 comment Print

This may happen due to non-entry in Part-B. The user is required to enter the Part-B details and generate the [-way bill and thereafter take print of that valid E-way bill.

Cabinet approves MRA between ICAI and SAICA

May 2, 2018 1182 Views 0 comment Print

The Union Cabinet chaired by Prime Minister Shri Narendra Modi has has approved the Mutual Recognition Agreement (MRA) between the Institute of Chartered Accountants of India (ICAI) and The South African Institute of Chartered Accountants (SAICA).

Benefit of IDS, 2016 cannot be given to Person Prosecuted u/s 420

May 2, 2018 816 Views 0 comment Print

M/s Hillways Construction Company Private Limited Vs Income Tax Department and others (Uttarakhand High Court); Admittedly Section 420 of IPC is an offence which comes under Chapter XVII of the IPC. Income Declaration Scheme (IDS), 2016, of which the petitioner is seeking benefit, categorically stipulates that in case prosecution is going on against a person […]

Additional Risk management measures for derivatives segment

May 2, 2018 705 Views 0 comment Print

For the Equity Derivatives segment, the client margins which are required to be compulsorily collected and reported to the Exchange/Clearing Corporation, as the case may be, by the Clearing members / Trading members shall include initial margin, exposure margin/extreme loss margin, calendar spread margin and mark to market settlements.

Application U/s. 80G(5) cannot be rejected for sufficiency of funds with an institution

May 1, 2018 2676 Views 0 comment Print

CIT(E) was not justified in rejecting approval sought by assessee under section 80G(5) on the allegation that assessee had sufficient disposable fund because sufficiency of funds available with an institution seeking the approval is not mentioned as condition under section 80G, which needs to be looked into before granting approval.

Notification No. 3/2018-Customs (N.T./CAA/DRI) dated 01.05.2018

May 1, 2018 2670 Views 0 comment Print

Notification No. 3/2018-Customs (N.T./CAA/DRI)- In pursuance of notification No. 60/2015-Customs (N.T.), published vide number G.S.R. 453(E), dated 4th June 2015 in Gazette of India, Extra-ordinary, Part-II, section 3, sub-section (i), and as amended by notification No. 133/2015-Customs (N.T.), published vide number G.S.R. 916(E) dated 30th November 2015 in Gazette of India

Enhanced benefit under MEIS Scheme to Handicrafts sector

May 1, 2018 3426 Views 0 comment Print

Some MEIS entries classifiable under the Handicrafts sector are included for enhanced benefit under the Merchandise Exports from India Scheme, for the exports made in the period 1.11.2017 to 30.6.2018.

CCI bust cartel in tenders of Pune Municipal Corporation

May 1, 2018 1482 Views 0 comment Print

The Competition Commission of India (CCI) passed final order imposing penalty on six firms – Fortified Security Solutions (Fortified), Ecoman Enviro Solutions Pvt. Ltd. (Ecoman), Lahs Green India Pvt. Ltd.

Recording of satisfaction in assessment order about initiation of penalty is must

April 30, 2018 4686 Views 0 comment Print

Where AO failed to record his satisfaction in the assessment order as to under which limb, penalty under section 271(1)(c) was initiated against assessee, being essential condition was not fulfilled, penalty was liable to be deleted.

Mere holding of Agricultural land not proves earning of agriculture income

April 30, 2018 4176 Views 0 comment Print

Where assessee did not furnish any evidence of earning agricultural income shown in return of income merely because assessee was holding agricultural land of 20 bighas would not prove that assessee earned any agricultural income or has any past savings so as to make any investment in the property.

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