Flipkart India (P) Ltd. Vs ACIT (ITAT Bangalore) Where the assessee sold goods at loss in order to create market for itself, AO disregarded the loss without any basis and converted the same into income then action of AO was not justified. What can be taxed is only income that accrues or arises as laid […]
Import policy of Yellow Peas under Exim Code 0713 1000 is revised from free’ to ‘restricted’ for a period of three month only vide Notification No. 04 /2015-2020
It is clarified that Regional Authorities may allow revalidation of Advance Authorisation/DFIA, under the provisions of Para 2.20 of HBP, 2015-2020, which has been amended vide Public Notice 38 dated 11.2017, even if Authorisation is issued under FTP, 2009-14 provided conditions stipulated in the said Public Notice are fulfilled.
GST Commissioner of Maharashtra notified that E-way bill for intra-State supplies will be applicable from May 31, 2018 in Maharashtra vide notification dated 25th April 2018.
Penalty under section 271(1)(c) could be levied where AO was not sure about the charge on which penalty was to be levied since he had initiated penalty proceedings for both the charges, i.e., furnishing of inaccurate particulars of income as well as concealment of particulars of income, and also levied the penalty on both the charges vide his penalty order.
The original authority rejected the refund claim on the ground that only photocopies of the Bills of Entry, TR6 challans and sales invoices were produced by the appellant. Thus, for want of production of original documents, refund claim was rejected, which was later upheld by Commissioner (Appeals). Hence this appeal.
Central Government appoints under Fugitive Economic Offenders Ordinance, 2018 the Special Directors of Enforcement of the Regional Offices of the Directorate of Enforcement to perform the functions of an Administrator.
Central Government hereby authorises officers not below the rank of Assistant Directors in the Directorate of Enforcement to exercise the power to search any person and to seize such record or property which may be useful for or relevant to proceedings under Fugitive Economic Offenders Ordinance, 2018.
No addition can be made solely on the basis of a retracted statement made during the survey operation, particularly, when proper justification for retraction was also offered.
Request for valuable suggestions on the Exposure Draft of Indian Valuation Standards formulated by Valuation Standards Board of ICAI latest by 12th May, 2018.
