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Framework for Facilitating Small Value Digital Payments in Offline Mode

January 3, 2022 1626 Views 0 comment Print

Reserve Bank had, vide circular dated August 06, 2020, permitted a pilot scheme to encourage technological innovations that enable small value digital transactions in offline mode. It was stated therein that the decision on formalising such a system would be based on the experience gained.

Covid-19 Guideline for Seal of High Rise Buildings in Mumbai

January 3, 2022 2979 Views 0 comment Print

If Covid-19 case is found on a particular floor then that floor will be sealed for 14 days, However entire building will be sealed if more than 10 active cases are found on more than one floor

Education cess, not an allowable deduction: ITAT Kolkata

January 3, 2022 3138 Views 0 comment Print

An additional surcharge, to be called the Education Cess to finance the Government’s commitment to universalise quality basic education, is proposed to be levied at the rate of two per cent on the amount of tax deducted or advance tax paid, inclusive of surcharge.

CCI Directs Investigation Into Apple’s App Store Policies

January 3, 2022 1218 Views 0 comment Print

In Re: Together We Fight Society Vs. Apple Inc. (Competition Commission Of India) Commission is of the prima facie view that Apple has violated the provisions of Section 4(2)(a), 4(2)(b), 4(2)(c), 4(2)(d) and 4(2)(e) of the Act, as elaborated supra which warrants detailed investigation. In view of the foregoing, the Commission directs the Director General […]

Kerala HC Upholds 10% EWS Reservation For Veterinary/Dental Courses under KEAM

January 3, 2022 786 Views 0 comment Print

Vinay Shanker Vs Union of India (Kerala High Court) The writ petitioner seeks a direction to the 5th and 6th respondents to increase the number of seats to the Veterinary and Dental Courses so as to implement the reservation category of Economically Weaker Section and a further direction to respondents 5 and 6 to implement […]

Request to not to relax e-Commerce Policy & FDI Rules on e-Commerce

January 2, 2022 786 Views 0 comment Print

Confederation of All India Traders has requested to Shri Piyush Goyal Hon’ble Minister for Commerce & Consumer Affairs to not to relax E Commerce Policy and FDI Rules on E Commerce. Their representation is as follows:- “Vyapar Bhawan” 925/1, Naiwala, Karol Bagh, New Delhi-110005, Phone: +91-11-45032664, Telefax +91-11-45032665 E-mail: teamcait@gmail.com Website: www.cait.in 02nd January, 2022 Ref. No.: […]

Prosecution cannot be launched merely for allotment of 2 PAN, when petitioner already paid tax

January 2, 2022 5667 Views 0 comment Print

Sudhir Kumar Hasija Vs ACIT (Madras High Court) The main contention of the learned counsel for the petitioner is that the prosecution itself has been launched under the wrong premise that the petitioner has not filed his return, but the fact remains that the petitioner was issued with two Pan cards bearing numbers AKKPS7295P and […]

Reopening based on Audit objection valid if cash payments above Rs. 20000 escaped scrutiny

January 1, 2022 8430 Views 3 comments Print

ITO Vs Mayuri Constructions (ITAT Hyderabad) The brief facts of the case are that the assessee is a firm engaged in the business as civil contractor filed its return of income for the AY 2008-09 on 14/10/2008 declaring total income of Rs. 65,254/-. Initially, the return was processed U/s. 143(1) of the Act and thereafter […]

ITAT deletes Addition of Rs. 17.32 crore for alleged Accommodation Entries

January 1, 2022 4572 Views 0 comment Print

More Credit Securities (P) Ltd. Vs ITO (ITAT Delhi) We find the Ld. CIT(A) while deleting the addition made by the A.O. under section 68 of the I.T. Act, 1961 has noted that assessee has filed the copies of the returns of income for A.Y. 2010-11 of all the applicants, copies of their audited balance-sheets […]

HC explains requirement of new sanction under Section 279(1) of Income Tax

January 1, 2022 7563 Views 0 comment Print

G. Victor Devasahayam Vs ACIT (Madras High Court) It is not disputed that sanction under Section 279 (1) of Income Tax Act is already been granted and sanctioned for the offence under Section 276(C)(1) and other offences. Since the expression unless the sanction had been already obtained for a prosecution on the same facts as […]

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