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NAA directs DGAP to Re-Investigate as Mathematical Methodology Adopted by DGAP was Not Logical

June 15, 2020 414 Views 0 comment Print

Joydeep Sarkar Vs Himalaya Drug Company (NAA) Fact of the Case: The brief facts of the case are that under Rule 128 (1) of the Central Goods and Services Tax (CGST) Rules, 2017 an application dated 27.11.2017 was filed before the Standing Committee on Anti-profiteering by the Applicant No. 1 alleging that the Respondent had […]

Tariff Notification No. 52/2020-Customs (N.T.) dated 15.06.2020

June 15, 2020 1320 Views 0 comment Print

Tariff Notification No. 52/2020-Customs (N.T.) in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Poppy Seeds, Areca Nut, Gold and Silver- Reg Government of India Ministry of Finance (Department of Revenue) (Central Board of Indirect Taxes and Customs) Notification No. 52/2020-Customs (N.T.) New Delhi, 15th June, 2020 25 Jyaishtha, 1942 (SAKA) S.O. 1886(E).— […]

Checklist for preparation of GSTR-3B

June 13, 2020 12249 Views 2 comments Print

Savita Joshi INSTRUCTIONS FOR PREPARING ♦ The comments indicate suggested answers , however it can be suitable modified on case to case basis. ♦ This is to be completed on the basis of financials of the client for the month. ♦ To download and attach GSTR -2 A for the month as availble on GST […]

Merely reason to believe not sufficient to reopen assessments beyond 4 year period

June 12, 2020 1623 Views 0 comment Print

ITAT Kolkata ruling on Amrabathi Investra (P) Ltd. Vs ITO case. Assessment reopened u/s 147. Read full judgment details and outcome.

Section 50C- No addition for Minor Valuation Differences

June 12, 2020 2667 Views 0 comment Print

Dulari Devi Hetamsaria (L/H of Shyam Sundar Hetamsaria) Vs ACIT (ITAT Kolkata) ITAT Mumbai, in the case of M/s John Flower ( India) Pvt. Ltd, in ITA No.7545/Mum/2014, for A.Y. 2010-11, order dated 25.01.2017 held that if the difference between the valuation adopted by the Stamp Valuation Authority and declared by the assessee is less […]

CBDT transfer/posts 272 officers in ACIT/DCIT Grade

June 12, 2020 5637 Views 0 comment Print

Office Order No. 98 of 2020 The following transfer/postings of the officers in the grade of Assistant Commissioner/Deputy Commissioner of Income Tax, are hereby ordered with immediate effect and until further orders:

Amendment in Import Policy of Tyres

June 12, 2020 6564 Views 0 comment Print

Import policy of New pneumatic tyres covered under ITC HS codes 40111010, 40111090. 40112010, 40112090, 40114010, 40114020, 40114090, 40115010 and 40115090 is amended from ‘Free’ to ‘Restricted’.

SEBI: Investment by sponsor or asset management company in scheme

June 12, 2020 747 Views 0 comment Print

In terms of Regulation 28 (4) of SEBI (Mutual Funds) (Amendment) Regulations, 2020, the sponsor or asset management company is required to invest not less than one percent of the amount which would be raised in the new fund offer or fifty lakh rupees, whichever is less in such option of the scheme, as may be specified by the Board.

IBBI cancels registration of IP as criminal proceedings were pending against him

June 11, 2020 837 Views 0 comment Print

The submissions made by Mr. Lebaka have been examined and it is observed that he has failed to make a required disclosure about the pendency of the criminal proceedings against him before the Hon’ble Court.

Invoke NDPS Act in narcotics drug cases affected by Custom formations

June 10, 2020 609 Views 0 comment Print

I am directed to state that the Hon’ble Home Minister has directed that in all cross-border narcotics drug cases affected by the Custom formations, NDPS Act, 1985 should also be invoked under which Custom officers are duly empowered to provide effective deterrence to cross-border smuggling of drugs.

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