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No addition for share issued at Premium based on prescribed methodology

March 1, 2021 2577 Views 0 comment Print

PCIT Vs Cinestaan Entertainment Pvt Ltd (Delhi High Court) The law requires determination of fair market values as per prescribed methodology. The Appellant-Revenue had the option to conduct its own valuation and determine FMV on the basis of either the DCF or NAV Method. The Respondent-Assessee being a start-up company adopted DCF method to value […]

Code on Wages (Central Advisory Board) Rules, 2021

March 1, 2021 4563 Views 0 comment Print

(1) These rules may be called the Code on Wages (Central Advisory Board) Rules, 2021. (2) They shall come into force on the date of their publication in the Official Gazette.

Master Circular on Surveillance of Securities Market

March 1, 2021 831 Views 0 comment Print

In order to moderate sharp and destabilizing price movements in shares of companies, to encourage better price discovery and to increase transparency in securities market, SEBI in consultation with Stock Exchanges has decided to adopt following measures:-

Tribunal cannot rectify its order for different view by other tribunal in similar case

March 1, 2021 1506 Views 0 comment Print

P.T. Manuel And Sons Vs CIT (Kerala High Court) We are of the view that the reasoning of the Tribunal is erroneous. A decision taken subsequently in another case is not part of the record of the case. A subsequent decision, subsequent change of law, and/or subsequent wisdom dawned upon the Tribunal, are not matters […]

Extradition Treaty between India & Afghanistan

March 1, 2021 993 Views 0 comment Print

The Government of the Republic of India and the Government of the Islamic Republic of Afghanistan; hereinafter referred to as contracting states; Desiring to make more effective the cooperation of the two countries in the suppression of crime by making further provision for the reciprocal extradition of offenders;

GST payable on amount received as reimbursement of discount or rebate

March 1, 2021 12249 Views 0 comment Print

In re Santhosh Distributors Kottayam (GST AAAR Kerala) 1. Whether the discount provided by the M/s Castrol to their dealers through the appellant attracts any tax under GST ? Yes, the additional discount reimbursed by M/s Castrol, is liable to be added to the consideration payable by the customers or dealers to the appellant. The […]

Rohtak Court grants transit remand of accused to Patiala Court in GST evasion case

March 1, 2021 708 Views 0 comment Print

Parveen Jain Vs Directorate of GST Intelligence (Rohtak Court) In this case the firms which played vital role in issuance of fake invoices are registered at New Delhi. The complainant department has not shown so far that the six firms located at Rohtak (mentioned in Para no 3 of Reply) or their proprietors have been […]

Advisory on Covid Vaccination In R/O Echs Beneficiaries

March 1, 2021 1122 Views 0 comment Print

Tele: 25683476 Central Organisation ECHS Integrated HQ of MoD (Army) Adjutant General’s Branch Thimayya Marg Near Gopinath Circle Delhi Cantt-110010 01 Mar 2021 B/49762/AG/ECHS/2021 IHQ of MoD (Navy)/Dir ECHS (N) Air HQ (VB)/DPS HQ Southern Command (A/ECHS) HQ Eastern Command (A/ECHS) HQ Western Command (A/ECHS) HQ Central Command (A/ECHS) HQ Northern Command (A/ECHS) HQ South […]

No new provision added on blocking of content

February 27, 2021 324 Views 0 comment Print

Certain misgivings are being raised regarding Rule 16 under Part III of the rules which mention that in a case of emergency nature, interim blocking directions may be issued by the Secretary, Ministry of Information and Broadcasting.

Various Important Due Date Upcoming

February 26, 2021 3369 Views 0 comment Print

The Institute of Cost Accountants of India has compiled Various Upcoming Important Due Date which includes due dates of Annual – Updation of Udyam Registration, Updation of GSTN in Udyam Registration, Migration of UAM/EM Part-II to Udyam Registration, Annual Updation of Import Export Code (IEC), Opt in GST Composition Scheme, Linking of PAN card with […]

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