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Online Generation of Rotation Number by Shipping Lines/ Agents

June 5, 2017 10092 Views 0 comment Print

Attention of all the importers, Exporters, Customs Brokers, Shipping Lines/ Agents and other stake holders is invited to the facility of Online Generation of Rotation Number by Shipping Lines/ Agents communicated by Board Circular No. 20/2017-Customs dated 31.05.2017 and Public Notice No. 166/2016-17 dated 05.12.2016 issued by JNCH.

Recovery cannot be effected 3 years from the date of SCN

June 5, 2017 2502 Views 0 comment Print

Next question needs to be considered is whether the demand for the period March 2003 to February 2007 can be enforced when the demand notice was issued on 14.9.2007. In the aforesaid case where the Honorable High Court observed that the in absence of time limit prescribed for recovery, a reasonable period, be applied for […]

Challenges to reconnect with Nature

June 3, 2017 1011 Views 0 comment Print

Since 1972 World Environment Day is celebrated over the world to raise awareness about forests and wider issues of environmental protection. The theme of this year’s World Environment Day is ‘Connecting People to Nature. It implores us to get outdoors and into nature, to appreciate its beauty and to take forward the call to protect the Earth that we share.

Search & Seizure of Undisclosed income deposited into A/c of 3rd party

June 3, 2017 7737 Views 0 comment Print

1. The main argument on merits by both Petitioners is that without a search warrant in their respective names, and without there being a demand raised and finalised, there is no power under Section 132 read with Section 132B of the Act to require RBL to issue a DD favouring the Department for the balance […]

15th Meeting of the GST Council to be held on 3rd June, 2017

June 2, 2017 903 Views 0 comment Print

15th Meeting of the GST Council to be held tomorrow, 3rd June, 2017 – Approval of amendments to the draft GST Rules and related forms and Finalization of the rates of tax and cess on the remaining commodities are on the Agenda among others for tomorrow’s meeting.

HUF income cannot be taxed in members hand after demise of Karta

June 2, 2017 2682 Views 0 comment Print

In P.G Sunandamma Vs. ITO, the ITAT, Bangalore, held that the transfer of excise license to a member of HUF on death of Karta cannot be reason to assess HUFs income in the hands of that individual member.

AO cannot review assessment order already framed vide section 154 rectification

June 2, 2017 4998 Views 0 comment Print

he issue raised by the AO in proceeding under section 154 of the Act is highly debatable and requires the issue to be reconsidered by the AO about applicability of provision of section 115JB of the Act which was not raised by the AO in the original assessment proceeding. Therefore AO has no power to […]

ICAI FAQs on Revised Scheme of Education & Training

June 2, 2017 11958 Views 8 comments Print

The three levels will now be called as Foundation, Intermediate and Final in place of earlier levels i.e. Common Proficiency Course (CPC), Intermediate (integrated Proficiency Competence) Course and Final.

ICAI: Summary of Revised Scheme of Education and Training

June 2, 2017 2244 Views 0 comment Print

Register with Board of Studies (BoS) after appearing in Class XII examination so as to complete four months study period (i.e. register till 30th June/ 31st Dec. for November/ May Examination).

Acceptance of late charges / amendment fees by JNCH on 24 X 7 basis

June 2, 2017 1389 Views 0 comment Print

Trade has represented that they are facing difficulty in making payment of certain late charges / amendment fees (as detailed below) beyond working hours.

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