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Single Purchase & sale Transaction of shares cannot be treated as Business Activity

September 24, 2021 1683 Views 0 comment Print

Sak Industries Pvt. Ltd. Vs DCIT (ITAT Chennai) We find that the assessee has purchased 1,25,000/- equity shares of ING Vysya Bank during the month of January and February, 2009 and subsequently during the month of September, 2009 all the shares are sold. The assessee also shows the above transaction in its books of accounts […]

MGST: Geographical Jurisdiction of Deputy Commissioner of State Tax 

September 24, 2021 1068 Views 0 comment Print

Geographical Jurisdiction of Deputy Commissioner of State Tax (Amendment in Order No. PWR-GST/2017/01/ADM-8, dated 22nd June,2017). COMMISSIONER OF STATE TAX, MAHARASHTRA STATE GST Bhavan, Mazgaon, Mumbai 400 010, dated 24th September, 2021. Order MAHARASHTRA GOODS AND SERVICES TAX ACT, 2017. Order No. PWR-GST/2017/01/ADM-8.—In exercise of the powers conferred by sub-section (2) section 4 of the […]

Power delegation under MGST Act – Deputy Commissioner of State Tax (Investigation)

September 24, 2021 1782 Views 0 comment Print

Power delegation under MGST Act – Deputy Commissioner of State Tax (Investigation) (Amendment in Order No. DC.(A&R)-2/GST/PWR/Sections/2017-18/ADM-8, dated 10th October,2017) COMMISSIONER OF STATE TAX, MAHARASHTRA STATE GST Bhavan, Mazgaon, Mumbai 400 010, dated 24th September, 2021. Order MAHARASHTRA GOODS AND SERVICES TAX ACT, 2017. Order No. PWR-GST/2017/01/ADM-8.—In exercise of the powers conferred by sub-section (1) […]

Returns furnished between 07.06.2021 to 30.09.2021 under EVC instead of DSC to be treated as valid

September 24, 2021 1377 Views 0 comment Print

Returns of income furnished electronically under Section 142(1), 148, 153A and 153C of the Act during the period from 07.06.2021 to 30.09.2021 and verified through Electronic Verification Code instead of Digital Signature, shall be deemed to have been furnished and verified as per Rule 12.

List of Nominations received by ICAI for 2021 Election

September 24, 2021 1743 Views 0 comment Print

Details of region-wise Members whose nominations have been received, within the appointed time and date i.e. 6:00 p.m. on 22nd September, 2021 at the designated location, for contesting the Election to the Twenty Fifth Council and Twenty Fourth Regional Councils schedule to be held in December, 2021 are given herein below for information of all concerned.

Stamp Duty refund cannot be denied for delay in Application due to Judicial Proceedings

September 24, 2021 8583 Views 0 comment Print

Since the delay in filling the application for refund in the instant case was due to the prolonged proceedings before the NCDRC, the application cannot be rejected on the ground of delay. A litigant has no control over judicial delays. A rejection of the application for refund would violate equity, justice and fairness where the applicant is made to suffer the brunt of judicial delay.

CBDT releases ITR 6 Schema Changes for AY 2021-22

September 23, 2021 7164 Views 0 comment Print

Income Tax Department Government of India Central Board of Direct Taxes, e-Filing Project AY 2021-22 – ITR 6 – Schema Change Document Version 1.1 21 September 2021 Directorate of Income Tax (Systems) E-2, A.R.A. Centre, Ground Floor Jhandewalan Extension New Delhi – 110055 Document Revision List Document Name: ‘ITR 6 Schema Changes for AY 2021-22’ […]

IBC not prevents closure of Liquidation Process in case ‘Corporate Debtor’ is sold as a going concern

September 23, 2021 6144 Views 0 comment Print

In this case, the NCLAT set aside an order of the NCLT where the NCLT rejected an application by the liquidator seeking closure of the liquidation process as the corporate debtor was being sold as a going concern under the Insolvency and Bankruptcy Board of India (Liquidation process) Regulations, 2016

Central Civil Services (Payment of Gratuity under National Pension System) Rules, 2021

September 23, 2021 3054 Views 1 comment Print

(1) These rules may be called the Central Civil Services (Payment of Gratuity under National Pension System) Rules, 2021. (2) They shall come into force on the date of their publication in the Official Gazette.

Impose anti-­dumping duty on Import of HFC Component R-32: DGTR

September 23, 2021 3183 Views 0 comment Print

Authority is of the view that imposition of anti­dumping duty on Import of Hydrofluorocarbon (HFC) Component R-32 is required to offset dumping and injury. The Authority considers it necessary and recommends imposition of anti-dumping duty on imports of subject goods from the subject country. Having regard to the lesser duty rule followed by the Authority, […]

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