Insolvency Professional Agency of Institute of Cost Accountants of India (Section 8 Company registered under the Companies Act, 2013) The Insolvency Professional Agency of the Institute of Cost Accountants of India (IPA ICAI), a Section 8 Company incorporated under Companies Act 2013 has been promoted by the Institute of Cost Accountants of India (Institute) and […]
Trimm Exports Private Limited Vs DCIT (Karnataka High Court) The issue which arises for consideration in this appeal is whether an amount of Rs.1 Crore paid as compensation by the appellant to the lessee can be claimed as expenses incurred in connection with transfer of the capital asset. The assessee was the owner of land […]
Exemption under Section 54 of the Act is dependent on the date of acquisition of the property and not on the date of payment made in respect of such property. It is also noteworthy to mention that to claim an exemption under Section 54F of the Act, it is not necessary that the same sale consideration should be used for construction of a new house property.
Zahoor Ahmad Bhat Vs Hirdesh Kumar (Jmmu And Kashmir High Court) The Division Bench judgment of this court dated 29.4.2021 passed in WP(C) No. 669/2021 connected with WP(C) No. 777/2021 inter alia provides as under: i) That a vehicle once registered in any state of India, shall not be required to be registered elsewhere in […]
Sushi Pet Nutri science (GST AAAR Telangana) Issue 1: The product ‘poultry meal’ manufactured and supplied by appellant falls under Tariff Item No. 2301 10 10 of the Customs Tariff Act, 1975. The impugned order is modified accordingly. Issue 2: The product ‘poultry meal’ manufactured and supplied by appellant is not eligible for the exemption contained […]
Frequently Asked Questions (FAQs) on Multi-disciplinary Partnership Firm of Chartered Accountants in Practice (MDP CAs in Practice) Q.1 What is meaning of the term “MDP CAs in Practice?” Response: “MDP CAs in Practice” is abbreviation of the term “Multi-disciplinary Partnership Firm of Chartered Accountants in Practice”. MDP CAs in Practice means the firm which has […]
The revised formats of ANF-2H and ANF-2I of HBP, 2015-2020 are notified as a step towards reducing regulatory compliance burden. Public Notice No. 13/2015-2020 Dated: 12th July, 2021. Government of India Ministry of Commerce & Industry Department of Commerce Directorate General of Foreign Trade Udyog Bhawan, New Delhi -110 011 New Delhi, Dated 12th July, […]
Exposure Draft of revised AS 102, Share-based Payments, has been issued by the ASB for comments with the last date being August 7, 2021, which can be assessed at the link: https://resource.cdn.icai.org/65465asb52807.pdf
Qantas Airways Ltd. Vs ACIT (ITAT Mumbai) Section 194C TDS deductible on Payment for use of lounge facilities by passengers A payment for the use of lounge facilities by the passengers, in our considered view, is clearly in the nature of payment for the use of certain facilities for the passengers. What passenger gets by […]
Convance Clinical Development Pvt. Ltd. Vs Commissioner Of Central Tax (CESTAT Bangalore) it is not in dispute that the appellant is an exporter and does not have any domestic services at all. Appellant availed input services for the purpose of rendering output service exporting to his foreign company for which he pays service tax and […]
