As a part of the day to day functioning of the Department, officers are/will be required to issue letters, notices, orders to Income Tax assessees or other addressees within the Department or outside by using digital signature. CBDT has already mandated filing of APAR online through ITBA-HRMS system.
While hearing the case between Cellular Operators Association of India vs Union of India, the Delhi High Court rejected the claim to allow credit of the unutilized education and higher education cess.
Notification No.13/2018-Customs (N.T.) CBEC hereby determines rate of exchange of conversion of each of foreign currencies wef 16.02.2018
Notification No. 12/2018-CUSTOMS (N.T.) In exercise of the powers conferred by sub-section (2) of section 14 of the Customs Act, 1962 (52 of 1962), the Central Board of Excise & Customs, being satisfied that it is necessary and expedient so to do, hereby makes the following amendment in the notification of the Government of India in the Ministry of Finance
Certain amendments/corrections have been made to Table 2 of Appendix 3B of FTP 2015-20 to align them with the ITC(HS) codes 2017 for exports made w.e.f. 01.01.2017.
While the process of Applications Supported By Block Amount (ASBA) has resulted in almost complete elimination of complaints pertaining to refunds, there have been instances where the applicants in an Initial Public Offering have failed to get allotment of specified securities and in the process may have suffered an opportunity loss due to the following factors:
Jaspreet Kalra Vs. Union of India (High Court of Uttarakhand) It is the contention of learned senior counsel that the vehicle of the petitioner has been seized by respondent no.3 thereby imposing a penalty of Rs.5,03,125/- equal to the IGST (the tax amount) on the technical ground that the validity of e-way bill had expired […]
As per PPF Act, the PPF account can’t be closed prematurely before completion of five financial years. If depositor wants to close PPF account before five years in exigencies, he can’t close the account. To make provisions for premature closure easier in respect of all schemes, provisions could now be made through specific scheme notification. The benefits of premature closure of Small Savings Schemes may now be introduced to deal with medical emergencies, higher education needs, etc.
Non compete fee is not an eligible intangible asset as the words similar business or commercial rights have to necessary result in an intangible asset against the entire word which can be asserted as such to qualify for depreciation u/s 32(1)(ii) of the Act which non compete fees lacks
The Central Bureau of Investigation has arrested an Income Tax Officer, Bhadrak (Odisha), while demanding & accepting a bribe of Rs. 40,000/- from the complainant.
