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No section 40(a)(ia) disallowance  on cost sharing reimbursements without TDS deduction

April 24, 2021 5694 Views 0 comment Print

DCIT Vs Pfizer Products (India) Pvt Ltd. (ITAT Mumbai) In terms of the agreement with M/s. Pfizer Ltd., assessee was sharing services of certain employees and other facilities which belonged to M/s. Pfizer Ltd. The reimbursement of such expenses due or paid to M/s. Pfizer Ltd. amounts to Rs.14,51,77,000/- and has been included under the […]

LCD modules classifiable under Tariff Item No. 9013: CESTAT

April 24, 2021 2316 Views 0 comment Print

Explore the CESTAT Bangalore order on Continental Automotive Components (India) Pvt Ltd vs. C.C., challenging the classification of LCD modules. Learn about the key findings and legal sustainability.

Treat Request for Reassessment as Application for amendment of Bill of Entry: CESTAT

April 24, 2021 2853 Views 0 comment Print

Explore the case of Kirloskar Ferrous Industries Ltd. vs. Commissioner of Customs (CESTAT Bangalore) where excess duty payment is contested. Learn about the implications, challenges, and legal decisions.

Request to Stop non-essential online business

April 24, 2021 552 Views 0 comment Print

Sir, we are a family of 5000 + mobile retailers in Jharkhand who arc suffering very badly since the first Swasthya Suraksha Saptah. Despite our huge losses in businesses we always kept your word and paid full payment to our staff throughout the year.

FAQs on Maharashtra Covid Regulations (Break the Chain)

April 24, 2021 2064 Views 0 comment Print

Government of Maharashtra Frequently Asked Questions regarding ‘Break the Chain’ order issued by the State Government dated 21st April, 2021 Sr No Questions Answers 1 Can Doctors and Medical Personnel travel across Districts without any restrictions Yes. Doctors and medical personnel can travel across districts using personal/ private/ public transport on the basis of an […]

Extend Compliance time period in second wave of Covid 19

April 23, 2021 29508 Views 3 comments Print

PDH Chamber Of Commerce And Industry requested Finance Minister, Smt. Nirmala Sitharaman to extend the time period regarding Legal and Statutory compliances in the second wave of Covid 19. Full text of their representation is as follows:- PDH CHAMBER OF COMMERCE AND INDUSTRY Sanjay Aggarwal President Comm -14 22nd April 2021 Respected Smt. Nirmala Sitharaman […]

High priority to Customs clearances of goods related to COVID 19 pandemic

April 23, 2021 1029 Views 0 comment Print

It is requested that all Customs formations may be sensitised of the urgency of this matter and may be directed to give high priority for Customs clearances of import of goods relating to COVID 19 pandemic, including oxygen related equipments etc.

Offence under PMLA includes ‘Scheduled Offence’ & ‘Offence of money-laundering’

April 23, 2021 21681 Views 0 comment Print

Fairdeal Supplies Limited & Anr.Vs. Union of India & Ors. (Calcutta High Court) (i) On a plain reading of Section 2(1)(y) and Section 3 of the PMLA , it appears to me that the legislature has bifurcated the offence under PMLA into “Scheduled Offence” and “Offence of money-laundering”. “Scheduled Offence” are provided in Part A […]

ITAT allows loss due to Forfeiture of amount paid against Land Purchase

April 22, 2021 1338 Views 0 comment Print

ACIT Vs K.B. Developers (ITAT Kolkata) Sole ground on which the disallowance is made is that the assessee had entered into these agreements, without making solid provisions to raise funds by due dates and hence it does not make any sense for a firm engaged in commercial venture to enter into these agreements. He drew […]

No Section 194C TDS on Hire Charges if not satisfies threshold limit of Rs. 20000

April 22, 2021 6444 Views 0 comment Print

ACIT Vs Late D. Mahendran (ITAT Hyderabad) The AO disallowed hire charges for non-deduction of tax u/s 40(a)(ia) of the I.T.Act, with an observation that the appellant has not brought on record any supporting evidence that he had hired lorries and trucks in the manner the public hire an auto or a taxi on the […]

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