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Requirement of minimum number & holding of unit holders for unlisted InvITs

August 4, 2021 780 Views 0 comment Print

Registered unlisted InvITs which have already issued units as on the date of this circular, shall comply with the provisions of sub-regulation (3) of Regulation 26B of the InvIT Regulations within a period of six months from the date of this circular.

Service tax refund cannot be denied on Legal Export of goods although procured through illegal means

August 4, 2021 1641 Views 0 comment Print

V.V. Minerals [100% EOU] Vs Commissioner of GST & CE (CESTAT Chennai) Unless there Is any provision to the contrary, the charging sections of the tax laws apply to illegal acts as they apply to legal acts and therefore tax is leviable notwithstanding that action for the illegal actions may be taken under some other […]

Withdrawal/Loan/closure/Premature closure of Post Office account through authorized person

August 4, 2021 9153 Views 0 comment Print

This office is receiving various representations from the depositors that due to old age or illness they are unable to attend post offices for withdrawal or loan or closure or premature closure of their accounts.

Corporate guarantee for supplies to AE in Singapore Falls under TP

August 4, 2021 663 Views 0 comment Print

Inflow Technologies Private Limited Vs ACIT (ITAT Bangalore) The assessee, as a part of share purchase agreement, during the business structuring had given a corporate guarantee to one of its group supplier CISCO for supplies made to its AE (Inflow Singapore). According to the assessee, it did not intend to get any remuneration for the […]

Assessee can object to inclusion/exclusion of companies at appellate proceedings stage

August 3, 2021 1359 Views 0 comment Print

Dell International Services India Pvt. Ltd. Vs JCIT (LTU) (ITAT Bangalore) The assessee did not object to inclusion of this company before the TPO but objected to inclusion of this company before DRP. The DRP did not adjudicate the objection. In these circumstances, we are of the view that exclusion of this company from the […]

HC set aside Assessment order passed despite request for adjournment due to family admitted to Hospital

August 3, 2021 1284 Views 0 comment Print

Sudhir Desh Ahuja Vs National Faceless Assessment Centre & Ors (Delhi High Court) Impugned orders are liable to be set aside for the following reasons: (i) Firstly, the AO failed to deal with the request of the petitioner, for according an adjournment in the matter. Wife and son of the petitioner were admitted to hospital […]

SC quashes Service Tax Demand on G. D. Goenka World Institute

August 3, 2021 3036 Views 0 comment Print

G. D. Goenka World Institute Vs Union of India (Supreme Court of India) This appeal takes exception to the judgment and orders dated 06.12.2018 passed by the Customs, Excise and Service Tax Tribunal at Chandigarh vide Interim Order No. IO/60/2018 [DB] in Appeal bearing Diary No. 602532016, whereby the prayer to excuse the appellant from […]

Implementation of Insolvency and Bankruptcy Code- Pitfalls & Solutions

August 3, 2021 2928 Views 0 comment Print

Chairperson of the Parliamentary Standing Committee on Finance, having been authorized by the Committee, present this Thirty-second Report on the subject ‘Implementation of Insolvency and Bankruptcy Code-Pitfalls and solutions’.

Break the Chain: Maharashtra relaxes COVID restrictions: Malls, gyms to open

August 2, 2021 9420 Views 0 comment Print

1) All essential and non-essential shops (including shopping malls) to remain open on all weekdays till 8 PM and till 3 PM on Saturday. All shops and malls except essential shops to remain closed on Sundays. 2) All Public Gardens and playgrounds can be kept open for the purpose of exercise, walking, jogging and cycling.

Search conducted on CA based In Faridabad by GST Department

August 2, 2021 4845 Views 0 comment Print

GOVERNMENT OF INDIA / MINISTRY OF FINANCE OFFICE OF THE COMMISSIONER, GOODS & SERVICES TAX G.S.T. BHAWAN, & BLOCK  ‘C’ & ‘D”, NEW C.G.O. COMPLEX. NH-IV, FARIDABAD-121001, HARYANA (Search conducted on CA based In Faridabad) In pursuance of an investigation into fake invoices of Rs. 47.22 crores (duty involvement of Rs. 10.33 crores) issued by […]

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