Since assessee was not earning any profit as the main object of assessee was to improve the public transport system in the country and the road safety standards and activities of laboratory testing and consultancy are bringing revenue to the assessee-association but intent of such activities is not to earn profit for its shareholders/owners, therefore, exemption under section 11 could not be denied to assessee.
CBIC’s circular dated 23.02.2021 has also clarified that every provisional attachment shall cease to have effect after expiry of period of one year from the date of attachment order.
Sumit Bansal, Insolvency Professional Vs Committee of Creditors of JP Engineers Pvt. Ltd. (NCLAT Delhi) NCLAT not agreed with the submissions of the Counsel for the Appellant that IBBI has no jurisdiction with regard to question of fee which is entitled to be paid to the IRP/ RP. The IBBI is clothed with Regulations making […]
Central GST Commissionerate, Ghaziabad Arrests Two Persons Involved in GST Fraud of Taxable Value of Rs. 96.84 Crores and Availment and Utilization of Fake Input Tax Credit of Rs. 5.15 Crores (Approx.)
Bird Audio Electronics Vs Commissioner of CGS (CESTAT Delhi) CBEC Circular No.423/56/98-CX dated 22.09.1998 also stresses the need for concerned Departments to issue timely demands through SCN. The Hon’ble High Court of Madras in the case of Commissioner of Central Excise, Coimbatore vs. Pricol Ltd. reported as 2015 (320) ELT 703 (Mad.) has held that […]
These rules may be called the Life Insurance Corporation of India General (Amendment) Rules, 2022. (2) They shall come into force on the date of their publication in the Official Gazette.
The Income Tax Department carried out search and seizure operations on 25.02.2022 on certain contractors executing contracts of Brihanmumbai Municipal Corporation (BMC), a prominent person and their close associates. In all, more than 35 premises in Mumbai have been covered during the search operation.
Database of Companies and Auditors under NFRA domain as on 31st March, 2021 as prescribed by the Central Government under Rule 3 (1) of NFRA Rules, 2018 and Advise to file Form NFRA-2- Annual Return.
In re Siddhartha Constructions (GST AAR Telangana) AAR held that works contract executed by the applicant for construction of Administrative building for TSIIC falls under Sr No. 3(vi) of Notification No. 11/2017-CT (Rate) as amended till date and therefore taxable at the rate of 6% under CGST & SGST each. However for works executed from […]
it has been decided that no such request for Form 15E for certificates under section 195(2) & 195(7) for a particular Financial Year shall be accepted after 15th of March of the Financial Year. For instance, no application for certificates for Financial Year 2021-22 shall be allowed after 15.03.2022.
