CIT Vs M. Ranjan Rao (Madras High Court) The Supreme Court in Gillanders Arbuthnot & Co. Ltd vs. CIT [ 1964] 53 ITR 283 has brought out a dichotomy between receipt of compensation by an assessee for loss of agency and receipt of compensation attributable to the negative/restrictive covenant. If the compensation is received for […]
Procedure for allocation of quota for import of (i) Calcined Pet Coke for use as Calcined Pet coke (CPC) in Aluminum Industry and (ii) Raw Pet Coke for CPC manufacturing industry for the year 2021-2022 is notified.
Director General of Foreign Trade hereby extends Validity of the existing Hand Book of Procedures, 2015-20 upto 30th September, 2021 vide Public Notice No. 48/2015-2020, Dated: 31st March, 2021. Government of India Ministry of Commerce and Industry Department of Commerce Directorate General of Foreign Trade New Delhi Public Notice No. 48/2015-2020-DGFT Dated: 31st March, 2021. […]
In re SHV Energy Private Limited (AAR GST Tamilnadu) 1. Whether the applicant is eligible for availment of input tax credit of GST paid on goods and services for laying of transfer pipeline and the foundation and structural support for such pipeline which is intended for unloading Propane/Butane from the Vessel/Jetty to the Terminal? The […]
Poothrikka Service Co-Operative Bank Ltd. Vs ITO (Kerala High Court) The question which is pending for adjudication before the appellate authority is whether the petitioners who are co-operative Societies are entitled for deduction under Section 80 (P) of the Income Tax Act. The Assessing Officer has denied the benefit of Section 80 (P) of the […]
The Central Bureau of Investigation has arrested an Executive Engineer (Electrical) of CPWD, Hyderabad and a Superintendent of Central Excise & Central Tax (GST) Honnavar Range, Uttara Kannada in separate cases of bribery.
1. Short title and commencement. – (1) These rules may be called the Copyright (Amendment) Rules, 2021. (2) They shall come into force on the date of their publication in the Official Gazette.
Amend notification No. 69/2011-Customs dated 29.07.2011 to extend deeper tariff concessions to imports of specified goods from Japan under India-Japan CEPA (IJCEPA) with effect from 1st April, 2021 vide Notification No. 20/2021–Customs Dated: 30th March, 2021. MINISTRY OF FINANCE (Department of Revenue) New Delhi Notification No. 20/2021–Customs Dated: 30th March, 2021 G.S.R. 226(E).—In exercise of […]
Red Hat India Pvt. Ltd. Vs DCIT (ITAT Mumbai) From the bare reading of the proviso to section 147 of the Act, it is mandatory on the part of the ld AO to duly mention in the reasons recorded itself as to whether there is any failure on the part of the assessee in disclosing […]
Where the sale transaction is on principal to principal basis, merely because a discount was passed by the manufacturer to the assessee, that may not be construed as commission and therefore, it cannot be the subject matter of levy of service tax.
