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Consultation Paper on ‘Review of NCDs alongwith warrants’ under QIP

December 4, 2020 987 Views 0 comment Print

Review of the ‘NCDs along with warrants’ as a staple product and as a segregated product, offered through Qualified Institutional Placement under SEBI  (Issue of Capital and Disclosure Requirements) Regulations, 2018

Transfer/postings in the grade of Pr. CIT/Pr. DGIT, wef 04.12.2020

December 4, 2020 1269 Views 0 comment Print

Office Order No. 239 of 2020 On promotion, the transfer/postings of the following officers in the grade of Pr. Chief Commissioner of Income Tax/Pr. Director General of Income Tax, are hereby ordered with immediate effect and until further orders:

Regional Rural Banks- Access to Call/Notice/Term Money Market

December 4, 2020 1038 Views 0 comment Print

RRBs shall be permitted to participate in the call/notice and term money markets both as borrowers and lenders. The prudential limits and other guidelines on call/notice/term money markets for the RRBs shall be the same as those applicable to Scheduled Commercial Banks

GST on fabrication of steel structures when material except paint is supplied by recipient

December 4, 2020 28749 Views 0 comment Print

Vrinda Engineers Private Limited (GST AAR West Bangal) Whether fabrication of steel structures is job work when the materials except paint are supplied by the recipient? The applicant supplies a mixed supply constituting of the job work of fabrication of steel structures and the works contract of applying paint to the erected steel structures. It […]

CEO not liable for cheque dishounoured which was issued after her resignation

December 4, 2020 3042 Views 0 comment Print

Smt. Dharna Goyal @ Dharna Garg Vs Aryan Infratech Pvt. Ltd. (Delhi High Court) Perusal of the complaint shows that the allegation of issuing the cheque is against accused No.1 from the account maintained by accused No. 1 and allegations of signing are against accused No. 2, as authorized signatory of accused No.1. The allegation […]

Entertainment Tax on Online Booking Charges in Tamil Nadu

December 4, 2020 1593 Views 0 comment Print

Mayajaal Entertainment Limited Vs Commercial Tax Officer (Madras High Court) The present Appeals are squarely covered by the decision of this Court in PVR Ltd. v. CTO (W.A.No.685, 694 to to 697 decided on 15.10.20020) which   dealt with the question of taxability of the Entertainment Tax on the Online Booking Charges and this Court held […]

IRDAI informs public on revision in Health Insurance Premium

December 3, 2020 1569 Views 0 comment Print

There are some reports in the media about hike in health insurance premium rates by general and health insurers. Some of the news items attributed the increase in health insurance premiums to certain recent regulatory initiatives taken by IRDAI.

Addition by AO not based on any incriminating material, cannot be sustained in orders passed u/s 153A/143(3)

December 3, 2020 2601 Views 0 comment Print

ACIT Vs Moon Beverages Ltd. (ITAT Delhi) Since the additions in the other appeals also are not based on any incriminating material found during the course of search and since we have already held that statements recorded u/s 132(4) are not incriminating in nature, therefore, the addition made by the AO being not based on […]

ITAT allows section 32A deduction based on aggregate amount of investment allowance & investment allowance reserve

December 3, 2020 2337 Views 0 comment Print

Gail (India) Ltd. Vs DCIT (ITAT Delhi) So far as the satisfaction of relevant conditions u/s 32 is concerned, the AO in the original order had expressed reservation on the grant of investment allowance during the current year as in his view, 75% of the reserves were not created in the current year. In terms […]

ICAI advised CA Students to Observe Code of Conduct

December 2, 2020 2886 Views 0 comment Print

CA Students are advised to observe Code of Conduct for CA students in letter and spirit so as to maintain the highest standards of this esteemed profession. In case of any violation of the same by the students, disciplinary action will be taken against them.

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