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Coal Scam Case: CBI convicts 5 including a CA

September 27, 2021 1767 Views 0 comment Print

Central Bureau of Investigation (CBI) Vs DOMCO Pvt. Ltd. (District and Sessions Judge cum Special Judge PC Act CBI, Rouse Avenue) 1. Chargesheet: – A-1 company had given applications dated NIL to Ministry of Coal (hereinafter referred as MoC) and Ministry of Steel (hereinafter referred as MoS) for captive coking block mentioning that the company […]

DGTR investigation reveals dumping of ‘Calcined Gypsum Powder’

September 27, 2021 2877 Views 0 comment Print

Having regard to the contentions raised, information received, submissions made and facts available before the Authority as recorded in these findings and on the basis of the determination of dumping and consequent injury to the domestic industry made hereinabove, the Authority concludes that: a. The product under consideration has been exported from the subject countries […]

Risk Management Framework (RMF) for Mutual Funds

September 27, 2021 3912 Views 0 comment Print

In order to ensure that mutual funds render, at all times, high standards of service, exercise due diligence, ensure proper care in their operations and to protect the interests of investors, SEBI vide Circular No. MFD/CIR/15/19133/2002, dated September 30, 2002 prescribed certain systems, procedures and practices that must be followed by all mutual funds with regard to risk management in various areas like fund management, operations, customer service, marketing and distribution, disaster recovery and business contingency, etc.

TNGST – SOP for Faceless Refund -certain guidelines issued

September 26, 2021 3087 Views 0 comment Print

At present, the refund process under GST Law is system-based, but the process requires involvement of the jurisdictional proper officer and his possible meeting with the taxpayers leading to possible harassment and other unwarranted situations.

Statutory right to appeal cannot be defeated by drawing a presumption about service of order

September 26, 2021 1563 Views 0 comment Print

Sunbright Cement Agencies Pvt Ltd. Vs. Commissioner (Appeals) (CESTAT Mumbai) What is important to note is that even the initial period of three months provided for in sub-section (3) of section 85 of the Finance Act for presenting an appeal begins to run from the date of receipt of the order. The order was received […]

Payment for mere right to use copyrighted software cannot be treated as Royalty

September 26, 2021 1155 Views 0 comment Print

Trigo SAS Vs DCIT (ITAT Pune) Assessee has merely transferred the right to use copyrighted software ANTIFOG and that it had not transferred the copyright itself to Trigo India. TRIGO India was authorized to have access to and make use of the copyrighted software ANTIFOG. In the Software License Agreement entered into, it is evident […]

Service tax on difference between sale price of SIM & amount remitted to telephone company

September 26, 2021 1191 Views 0 comment Print

Virmati Software And Telecommunications Limited Vs Commissioner of Central Excise & ST, Ahmedabad (CESTAT Ahmedabad) As regards the demand of Rs. 47,43,442/- which represent service tax on difference between the telephone recharge amount received from customers and amount out of the same paid to telecom companies. In this fact, it appears that difference amount is […]

Government Notifies PLI Scheme for Automobile & Auto components

September 25, 2021 972 Views 0 comment Print

The PLI Scheme for the auto sector envisages to overcome the cost disabilities of the industry for manufacture of Advanced Automotive Technology products in India. The incentive structure will encourage industry to make fresh investments for indigenous global supply chain of Advanced Automotive Technology products.

Non-Disposal of Objections vitiate the assessment order

September 24, 2021 2589 Views 0 comment Print

ITO Vs P.H. Chandrashekar (ITAT Bangalore) Non-disposal of objections filed by the assessee before the completion of assessment is against the procedure prescribed by Hon’ble Supreme Court in the case of GKN Driveshafts (P) Ltd (supra). Hence the same will vitiate the impugned assessment order. FULL TEXT OF THE ORDER OF ITAT BANGALORE The revenue […]

Anti-Dumping investigation on imports of Peroxosulphates (Persulphates)

September 24, 2021 747 Views 0 comment Print

Case No. (AD-OI-21/2020) Anti-Dumping investigation concerning imports of Peroxosulphates (Persulphates) originating in or exported from China PR and USA.

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