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HC imposes cost of Rs. 5000 for delayed filing of writ against section 148 Notice 

May 7, 2022 615 Views 0 comment Print

Orion Book Binders Private Limited Vs ITO (Calcutta High Court) HC held that writ petition is allowed subject to payment of costs of Rs.5,000/- to the Calcutta High Court Bar Association Lawyers’ Benevolent Fund, since the impugned notice under section 148 of the Income Tax Act, 1961 has been issued on April 8, 2021 as […]

When sale is on FOR basis, place of removal will be buyer’s place

May 7, 2022 6036 Views 0 comment Print

Kirloskar Oil Engines Ltd Vs C.C.E. & S.T. (CESTAT Ahmedabad) There is no dispute in the fact that the sale of goods is on FOR basis, freight and transit insurance is included in the price of the goods and the same was not collected from the buyer of the goods. In this background, the place […]

ITAT allows Interest on delayed payment of Services Tax, PF, VAT

May 7, 2022 2052 Views 0 comment Print

Neelkamal Realtors Suburban Pvt. Ltd. Vs ACIT (ITAT Mumbai) ITAT find that identical issue has been decided by the co-ordinate Bench in case of Emdee Digitronics Pvt. Ltd Vs. PCIT in ITA No. 361/Kol/2019 dated 28th June, 2019, wherein the co-ordinate Bench in Para No.12 relying on the decision of M/s Naaraayani Sons Pvt. Limited, […]

Depreciation cannot be denied merely for Registration of cars in directors name

May 6, 2022 2640 Views 0 comment Print

Shivam Water Treaters Pvt. Ltd. Vs ACIT (ITAT Ahmedabad) The 1st issue that arises for our consideration whether the assessee is eligible to claim the depreciation on the purchase of cars in the manner as provided under section 32 of the Act. To claim the depreciation under section 32 of the Act, the following conditions […]

ITAT quashes Revision order of CIT as AO had a reasonable view

May 6, 2022 504 Views 0 comment Print

Smt. E. Santhakumari Vs ITO (ITAT Chennai) We noted that the Assessing Officer while framing the assessment has gone into the details of the cash deposits of Rs.30.00 lakhs and the other two more amounts of Rs.5,09,000/- and Rs.6,95,900/-. She stated before the Assessing Officer that the cash deposits is out of the gift received […]

IBBI suspends registration of IP for failure to take custody of entire records of CD

May 6, 2022 453 Views 0 comment Print

Mr. Gupta has failed to take custody of the entire records of the CD. One of the objectives of filing application under section 19 is to get orders of AA so as to compel the CD to cooperate. Filing of application after finalisation of resolution plan defeats the very purpose of filing of the application […]

IBBI withdraws circular related to IBC Liquidation Process Regulations

May 6, 2022 270 Views 0 comment Print

Withdrawal of Circular dated 26th August, 2019 regarding applicability of the Insolvency and Bankruptcy Board of India (Liquidation Process) (Amendment) Regulations, 2019 notified on 25th July, 2019.

Food Safety and Standards (Ayurveda Aahara) Regulations, 2022

May 5, 2022 2994 Views 0 comment Print

Food Safety and Standards (Ayurveda Aahara) Regulations, 2022 – Ayurveda Aahara means a food prepared in accordance with the recipes or ingredients or processes as per method described in the authoritative books of Ayurveda listed under ‘Schedule A’ of these regulations including products which have other botanical ingredients in accordance with the concept of Ayurveda Aahara but does not include Ayurvedic drugs or proprietary Ayurvedic medicines and medicinal products, cosmetics, narcotic or psychotropic substances, herbs listed under Schedule E-1 of Drug and Cosmetics Act, 1940 and the Drug and Cosmetics Rules, 1945, metals based Ayurvedic drugs or medicines, bhasma or pishti and any other ingredients notified by the Authority from time to time.

MCA issues updated FAQs on V3 Portal

May 4, 2022 95877 Views 11 comments Print

Learn about the MCAs updated FAQs on the V3 portal. Get answers to your questions about the transition from V2 to V3 and the enhanced features of the new portal.

IRDAI appoints two members to Insurance Advisory Committee

May 4, 2022 393 Views 0 comment Print

1. Prakash Kumar, former Chief Executive Officer, GST Network, is appointed as Member of the Insurance Advisory Committee from the date of notification, and 2. Venkat Changavalli, Management Consultant is appointed as Member of the Insurance Advisory Committee from the date of notification

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