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Zone wise Panel of IP for January – June, 2021

January 3, 2021 1146 Views 0 comment Print

Annexure-B1 INSOLVENCY AND BANKRUPTCY BOARD OF INDIA Panel for New Delhi Zone for January – June, 2021 Panel of IPs for appointment as: Interim Resolution Professional (IRP) in a corporate insolvency resolution process under section 16(4), Liquidator in a liquidation process under section 34(6), Resolution Professional (RP) in an individual insolvency resolution process under section […]

Model Standing Orders for Manufacturing Sector, 2020

December 31, 2020 9912 Views 0 comment Print

(1) These Model Standing Orders may be called the Model Standing Orders for Manufacturing Sector, 2020; (2) They extend to all States and Union territories within India to the industrial establishments employing three hundred or more number of workers who are working in the industrial establishments, and which are covered under the Occupational Safety, Health and Working Conditions Code, 2020 (37 of 2020) and the rules made thereunder, under the control of Central Government or the State Government engaged in manufacturing sector.

No bail to person accused of fraudulently availing ITC of Rs.7 Cr from Patiala House Court

December 31, 2020 1152 Views 0 comment Print

DGGI Vs Abhit Manohar (Patiala House Court) Applicant/accused is Masters in Business Administration. He is reported to be the sole proprietor of M/s Sri Siddhivinayak Ventures and reportedly raised taxable invoices to the tune of Rs.150 crores without any movement of goods. During the course of investigation, it was revealed that input tax credit of […]

Atamnirbhar Bharat: Relief for Contractors/Developers of Road Sector- reg

December 31, 2020 4179 Views 0 comment Print

Representations have been received in the Ministry for further extension of the period of relief measures taken for mitigating COVID impact on the contractors engaged in NH sector.

Foreign exchange fluctuation loss on ECB loan for acquisition of indigenous assets allowable

December 31, 2020 5889 Views 0 comment Print

DCIT Vs Green Star Fertilizers Ltd. (ITAT Chennai) The issue of disallowance of expenditure on account of foreign exchange fluctuation loss incurred for acquisition of domestic asset is revenue in nature deductible u/s.37(1) or not has been considered by the co­ordinate Bench of this Tribunal in the case of M/s.Hyundai Motor Company Ltd. Vs. DCIT […]

Tariff Notification No. 117/2020-Customs (N.T.) Dated: 31.12.2020

December 31, 2020 744 Views 0 comment Print

Tariff Notification No. 117/2020-CUSTOMS (N.T.) in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Poppy Seed, Areca nut, Gold & Silver MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS) New Delhi, the 31st December, 2020 Notification No. 117/2020-CUSTOMS (N.T.) S.O. 4793(E).—In exercise of the powers conferred by […]

Issue of shares at premium- DCF is accepted method of valuation

December 31, 2020 5043 Views 0 comment Print

DCIT Vs Avigna Housing Pvt. Ltd. (ITAT Chennai) we are of the considered view that fair market value of shares considered by the assessee under DCF method is one of the accepted method of valuation of shares under Rule 11UA and such value of shares is supported by necessary supporting evidences including valuation report as […]

Cabinet approves Industrial Corridor nodes at Krishnapatnam & Tumakuru under CBIC

December 31, 2020 489 Views 0 comment Print

Cabinet approves Industrial Corridor nodes at Krishnapatnam and Tumakuru under CBIC. Multi Modal Logistics Hub & Multi Modal Transport Hub (MMTH) at Greater Noida also approved.

Interest rates for Small Savings Schemes w.e.f. 01.01.2021

December 31, 2020 4122 Views 0 comment Print

Rate of interest on various Small Savings Schemes (National Savings Schemes) for the fourth quarter of financial year 2020-21 (starting from 1st January, 2021 and ending on 31th March, 2021) shall remain unchanged from those notified for the third quarter of Financial Year 2020-21

GST AAR application rejected for non-filing in prescribed format of GST-ARA-01

December 30, 2020 405 Views 0 comment Print

In re Gujarat State Road Development Corporation ltd. (GST AAR Gujarat) Although the applicant has paid the required fees of Rs.10,000/- as required, they have not filed the application in the prescribed format of GST-ARA-01 required as per the provisions of aforementioned Sections and Rules. Therefore, the instant application is liable for rejection under Section […]

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