Both the appeals are being disposed of by a common order as they arise out of the same set of facts and circumstances, vide which the demand of duty stands confirmed against M/s.Dadu Steel & Power Ltd. to the extent of Rs. 13,77,691/- along with imposition of penalty of identical amount. Further, penalty of Rs.5 lakhs stands imposed upon Shri Santosh Agarwal, Director of the manufacturing unit.
It was the contention of the AO in Income Tax proceedings that assessee had indeed handed over the possession of the property as on 01-04-2006, which led to assessing the capital gains arising on the transfer of that property in AY. 2007-08. Therefore, as on 31-03-2007, the property was no longer in the possession or ownership of assessee.
The applicant is interested in trading of Dried Tobacco Leaves which would be purchased from registered dealer who in return purchases such Tobacco Leaves from Agriculturist / Farmers. Such registered dealer after purchasing it from Agriculturist / Farmers will sell the same to Applicant as it is without any further change in its form.
All varieties of edible oils, except mustard oil, have been made ‘free’ for export without any quantitative ceilings, pack size etc., till further orders.
Entities regulated by the Reserve Bank shall not deal in VCs or provide services for facilitating any person or entity in dealing with or settling VCs. Such services include maintaining accounts, registering, trading, settling, clearing, giving loans against virtual tokens, accepting them as collateral, opening accounts of exchanges dealing with them and transfer / receipt of money in accounts relating to purchase/ sale of VCs.
(a) The limit for FPI investment in Central Government securities (G-secs) would be increased by 0.5% each year to 5.5% of outstanding stock of securities in 2018- 19 and 6% of outstanding stock of securities in 2019-20.
Seeks to rescind notification nos. 7/2018-Central excise and 8/2018-Central excise, both dated 2nd February 2018 all dated 06.04.2018
The Companies (Amendment) Act, 2017 (Amendment Act) amends 93 sections of the Companies Act, 2013. The amendments in the Amendment Act are broadly aimed at:
This is to inform that ICAI is drafting a format for GST audit (Form 9C) for submission to the Government for their consideration. The same is proposed to be submitted by April, 2018 and what is moving on what’s up or Social Media is not the proposed one.
The Central Board of Direct Taxes (CBDT) has clarified that the pension received by a taxpayer from his former employer is taxable under the head Salaries. The Finance Act, 2018 has amended Section 16 of the Income–tax Act, 1961
