The Export of all varieties of Onions, as described above, has been made ‘Free’ with effect from 01.01.2021 vide Notification No. 50/2015-2020. Accordingly, the Notification No. 39/2015-20 dated 09.10.2020 related to export of Bangalore Rose and Krishnapuram Onions also stands withdrawn with effect from 01.01.2021. MINISTRY OF COMMERCE AND INDUSTRY (Department of Commerce) (DIRECTORATE GENERAL […]
Telangana High Court held that the action of the respondents in conducting panchanama dt.28.08.2019 and seizing cash of Rs.5.00 crores from Vipul Kumar Patel, employee of the petitioner in W.P.No.23023 of 2019, and retaining it till date, is illegal and ultra vires the provisions of the Income Tax Act, 1961 and also violative of Art.14
Gimpex Pvt. Ltd. Vs ACIT (ITAT Chennai) There is no dispute with regard to the fact that receivables is included under the definition of international transactions by amending section 92B by the Finance Act, 2012 w.e.f. 01.04.2002. Therefore, we are of the considered view that there is no merit in the arguments advanced by the […]
Nilesh Ajit Kumar Jain Vs ITO (ITAT Mumbai) A perusal of the assessment order shows that the assessment was reopened to examine misuse of Client Code Modification for tax evasion. No addition was made by the Assessing Officer in respect of the issue for which the assessment was reopened. It is a well settled law […]
Maheshwari Roller Flour Mills Pvt. Ltd. Vs ITO (ITAT Delhi) Learned Counsel submitted that initiation under section 147 of the I.T. Act have been done by mentioning the wrong Section 147(b) of the I.T. Act which is deleted from the Income Tax Act w.e.f. 01.04.1989, therefore, reopening is done under non-existent Section in a mechanical […]
Overseas Polymers Private Limited Vs ACIT (ITAT Mumbai) Legislature in Sec. 40(a)(ii) has though provided that ‘any rate or tax levied’ on ‘profits and gains of business or profession’ shall not be deducted in computing the income chargeable under the head ‘profits and gains of business or profession’, but then there was no reference to […]
Confederation of All India Traders Ref. No.: 3114/1/50 25th December,2020 Mrs Nirmala Seetharaman Hon’ble Minister for Finance Government of India New Delhi Dear Smt Nirmala Seetharamanp, Sub : Amendments in GST making it a complicated Taxation system With deep regret, we are constrained to bring it to your kind and urgent knowledge that recent notification […]
BST Infratech Limited Vs Commissioner of CGST & Excise, Bolpur Commissionerate (CESTAT Kolkata) We find that no physical verification of input consumption qua finished goods manufactured thereto was carried out by the department. The duty has been demanded on the basis of audit objection without causing any investigation. It is our considered view that the […]
PCIT Vs Headstrong Services India Pvt. Ltd. (Delhi High Court) It is now settled law that failure to adhere to the mandatory procedure prescribed under Section 144C of the Act would vitiate the entire proceedings and the same cannot be treated as an irregularity/ curable defect. In ESPN Star Sports Mauritius S.N.C. ET Companies vs. […]
In re Micro Instruments (GST AAAR Maharashtra) The MAAAR rejected the Miscellaneous Application dated 25.09.2020 filed by the Applicant i.e. M/s. Micro Instrument, to restore their Application dated 21.08.2019 seeking Rectification of Mistake in the MAAAR Order No. MAH/AAAR/SS-RJ/26/2018-19 dated 22.03.2019, as the same had already been decided by the erstwhile Appellate Authority vide Order […]
