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ADD investigation on imports of ‘Copper & Copper Alloy Flat Rolled Products’

April 16, 2021 1806 Views 0 comment Print

Case No. AD-OI-06/2020 Anti-Dumping investigation concerning imports of Copper & Copper Alloy Flat Rolled Products originating in and exported from China PR, Korea RP, Malaysia, Nepal, Sri Lanka and Thailand

Section 35(2AB) Deduction for Scientific research expenditure- ITAT restores file to PCIT

April 16, 2021 1815 Views 0 comment Print

Botil Oil Tools (I) Pvt. Ltd. Vs PCIT (ITAT Delhi) Facts of the case, in brief, are that the assessee is a company engaged in the business of manufacturing Oil Field Drilling and Production Equipment, which are used for drilling the Wells to pull out the oil from the wells. It filed its return of […]

SEBI Guidelines for warehousing norms for agricultural/agri-processed & non-agricultural goods

April 16, 2021 1791 Views 0 comment Print

Guidelines for warehousing norms for agricultural/agri-processed goods and non-agricultural goods (only base/industrial metals) underlying a commodity derivatives contract having the feature of physical delivery

Employees contribution to ESIC & PF allowable when payment is made

April 16, 2021 3312 Views 0 comment Print

DCIT Vs Dee Development Engineers Ltd. (ITAT Delhi) The assessee company has not deposited the employees’ contribution within the due date which is prescribed under the said statute i.e. Provident Fund and ESIC. This issue is dealt by the Hon’ble Delhi High Court in case of CIT vs. M/s Bharat Hotels Ltd. 410 ITR 417 […]

ITC not eligible on Promotional Products used in promotion of own Brand

April 16, 2021 17331 Views 0 comment Print

The Promotional Products/Materials & Marketing items used by the Appellant in promoting their brand & marketing their products can be considered as “inputs” as defined in Section 2(59) of the CGST Act, 2017. However, the GST paid on the same cannot be availed as input tax credit in view of the provisions of Section 17(2) and Section 17(5)(h) of the CGST Act, 2017.

Lighthouse Accounting and Financial Powers (Amendment) Rules, 2021

April 16, 2021 2883 Views 0 comment Print

1) These Rules may be called the Lighthouse Accounting and Financial Powers (Amendment) Rules, 2021. (2) They shall come into force on the date of their publication in the Official Gazette.

Section 139 | ICAI clarifies on Appointment of Auditor for two terms

April 15, 2021 9984 Views 0 comment Print

Whether a Proprietary firm (having FRN) or individual CA who is practicing either in his own name or trade name can be appointed for two terms as per Section 139 of Companies Act, 2013?

Facility Management Industry- Key Risk Areas

April 15, 2021 4923 Views 0 comment Print

The Facility Management (FM) industry is borne out as the means of providing maintenance support, user management and project management. It has grown dramatically over the past two decades, owing to the major urbanization and industrialization.

Secured Debts have priority against Government dues in respect of Assets against which such loan was given

April 15, 2021 1689 Views 0 comment Print

State Bank of India Vs Assistant Commissioner (ST) (Madras High Court) Whether the Financial Institution, which is a secured creditor, or the department of the government concerned, would have the ‘Priority of Charge’ over the mortgaged property in question, with regard to the tax and other dues? No doubt that the rights of a secured […]

Govt amends Courts for trial of cases under PMLA in Kerala

April 15, 2021 2028 Views 0 comment Print

Govt amends Courts for trial of cases under Prevention of Money Laundering Act, 2002 (PMLA 2002) in Kerala in consultation with the Chief Justice of the concerned High Court. MINISTRY OF FINANCE (Department of Revenue) Notification New Delhi, the 15th April, 2021 S.O. 1648 (E).—In exercise of the powers conferred by sub-section (1) of section […]

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