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Policy for Used/Worn clothing and Plastic recycling units in SEZs/EoUs

May 27, 2021 1254 Views 0 comment Print

i. Setting up of new units in SEZ/EOUs is not allowed. ii. Extension/renewal of LoA of existing units will be considered for a period of five years by Board of Approval. in. Besides the NFE obligations, the units shall be required to comply with to the extent a. 66.67% i.e. 2/3rd of the exports in terms of annual turnover and b. 50% in terms of tonnage.

Govt shall look to waive duties on imports of medicines for Black Fungus

May 27, 2021 462 Views 0 comment Print

LAIEQ Ahmad Siddiqui Vs Goverment of NCT of Delhi (Delhi High Court) FULL TEXT OF THE JUDGMENT/ORDER OF DELHI HIGH COURT 1. During the course of arguments, it has been informed by Mr. Kirtiman Singh that Import Duty payable on import of Amphotericin B, which is a drug being used for treatment of Mucormycosis (Black […]

Revenue cannot take a different stand in case of Co-Owners

May 27, 2021 1191 Views 0 comment Print

Smt. Bachupally Laxmi (alias Routhu Laxmi) Vs ITO (ITAT Hyderabad) For the purpose of computation of LTCG arising out of the development agreement cum GPA, the Assessing Officer has accepted that the assessee has acquired the flats as on 9.11.2009 and therefore, in the year 2012 when the assessee has sold the flat, the holding […]

No section 69A Unexplained Money addition for mere disclosure of Receipt in two different Accounts

May 27, 2021 3525 Views 0 comment Print

ACIT Vs Yashovardhan Tyagi (ITAT Delhi) he issue in the present ground is with respect to the addition of Rs.20,00,000/- made u/s 69A of the Act. AO made the addition u/s 69A of the Act and treated the amount of Rs.20,00,000/- from M/s. Eagle Home Entertainments Pvt. Ltd. to be as not recorded in the […]

NCLAT SOP on Preventive Measures to Contain Spread of COVID-19

May 27, 2021 357 Views 0 comment Print

In view of alarming rise in the COVID-19 cases and considering SOP on Preventive Measures to Contain Spread of COVID-19 in Offices dated 4th June, 2020 and further directions issued by Ministry of Health and Family Welfare from time to time;

DGFT notifies Fees of Rs. 200 for CoO (Non Preferential) | Appendix–2 E

May 27, 2021 2316 Views 0 comment Print

Fees under Para 2.108 (c) (iv) of Handbook of Procedure, 2015-20 is revised from existing Fee not exceeding Rs.200/- per certificate as may be prescribed by concerned agency to Fee of Rs.200/-  per certificate.

Electricity charges during CIRP would form part of CIRP Costs

May 27, 2021 3429 Views 0 comment Print

Executive Engineer of Uttar Gujrat VIJ Company Ltd. Vs Devang P Samapat RP of M/s. Kanoovi Foods Pvt. Ltd. (NCLAT Delhi) If the electricity consumption was for manufacturing and output of the Biscuits which is the normal operation of the Corporate Debtor, in that case dues arising from such supply of electricity during moratorium would […]

Career Ascent for Experienced CAs (1 year and above)

May 26, 2021 4251 Views 0 comment Print

Announcement of Career Ascent for Experienced Chartered Accountants (1 year and above) 30th June 2021 Yet another initiative on the part of the Committee for Members in Industry & Business (CMI&B) in the form of potential opportunity for the Chartered Accountants to secure career advancement in the leading organizations! Change and advancement in career depend […]

Explanatory Memorandum on Applicability of Audit Quality Maturity Model

May 26, 2021 1437 Views 0 comment Print

The Audit Quality Maturity Model -Version 1.0 (AQMM v1.0) is a capacity building measure initiated by ICAI and the objective of this Evaluation Matrix is for sole proprietors and Audit firms to be able to self-evaluate their current level of Audit Maturity, identify areas where competencies are good or lacking and then develop a road map for upgrading to a higher level of maturity.

What 2020 Taught us about Finances

May 26, 2021 1551 Views 0 comment Print

2020 has been a tough year for everyone. From the health sector being overwhelmed and to the economies facing recession. Though we’re all devastated by the experience we underwent in 2020, there is a learning curve.  That’s in finances. How do you handle your finances and assets? The pandemic has exposed our weakness when it […]

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