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Flux Cored (Tubular) Electrodes (Quality Control) Order, 2021

March 12, 2021 4056 Views 0 comment Print

(1) This Order may be called the Flux Cored (Tubular) Electrodes (Quality Control) Order, 2021. (2) It shall come into force with effect from 1st September 2021.

IBBI ask Registered Valuer to take reasonable care & due diligence

March 12, 2021 1200 Views 0 comment Print

In view of the above, the Authority, in exercise of powers conferred vide notification of Central Government no. GSR 1316(E) dated 18-10-2017 under section 458 of the Companies Act, 2013 and in pursuance of rule 15 and rule 17 of the Companies (Registered Valuers and Valuation) Rules, 2017, hereby warns Mr. Lakhan Lal Gupta that he should take reasonable care and due diligence while performing his functions under the Insolvency and Bankruptcy Code, 2016 and the Companies (Registered Valuers and Valuation) Rules, 2017.

I-T Dept searches 2 handling cash of others on commission basis

March 11, 2021 1083 Views 0 comment Print

The Income Tax Department carried out search and seizure operation on 10.03.2021 on two separate persons based in Kolkata, who are engaged in handling of cash of others on commission basis. The search was carried out based on intelligence gathered by the Department.

Bank account of Family Members cannot be attached for Tax Dues of Assessee

March 10, 2021 5343 Views 0 comment Print

Dharmesh Gandhi Vs Assistant Commissioner (Anti-Evasion) (Bombay High Court) After hearing the matter at some length, we find that out of the nine bank accounts that have been attached by respondent No.1, only the accounts at Sr. Nos.2, 3 and 4 belong to the petitioner whereas the other accounts belong to the family members, namely, […]

Govt receives 81 complaints related to levying of Service Charge by restaurants etc.

March 10, 2021 636 Views 0 comment Print

During the year 2020, 81 complaints related to levying of Service Charge by restaurants, pubs and hotel have been received at National Consumer Helpline. All the complaintswere taken up with the respective Hotels/ Restaurants for appropriate redressal.  The response received from the Hotels/Restaurants were thereafter conveyed to the complainants.

ITAT allows Employee’s Contribution to PF/EPF paid after Due Date

March 10, 2021 1800 Views 0 comment Print

Doosan Power Systems India P.Ltd. Vs DCIT (ITAT Chennai) We find that issue of belated payment of employees contribution to PF & ESI is allowable expenditure u/s.43B of the Act or not is no longer res integra. The Hon’ble Supreme Court in the case of M/s.Vinay Cements Ltd. (supra) and also in the case of […]

Deemed Dividend not applicable if recipient of loan is not a shareholder

March 10, 2021 1764 Views 0 comment Print

ACIT Vs Herbert Brown Pharmaceuticals & Research Laboratories (ITAT Mumbai) The learned Departmental Representative relied upon the order of the Assessing Officer and submitted that though the recipient of loan or advance by the company is not a shareholder but is a concern in which shareholders are having substantial interest. He submitted that the learned […]

Circulars amending FTP 2015-20 provisions ultra vires FTP 2015-20

March 9, 2021 2772 Views 0 comment Print

Atlantic Shipping Private Limited. Vs Union of India (Bombay High Court) High Court Held that DGFT Policy Circular Nos. 06/2018 dated 22.05.2018 and 08/2018 dated 21.06.2018 in so far as they seek to add and amend the provisions of the FTP 2015-20 by inserting additional conditions to curtail the rights / benefits claimed by the […]

Timely payment of retirement benefits to the retiring employees

March 9, 2021 3927 Views 0 comment Print

The undersigned is directed to say that timelines have been prescribed under the CCS (Pension) Rules, 1972 for each activity involved in the processing of a pension case and for payment of pension and gratuity to a retiring Government servant. As per this timeline, the process of verification of service and other preparatory work should be

Change of IFSC and Account due to Bank Merger

March 9, 2021 9087 Views 0 comment Print

1. Kind attention is invited to all the Importer, Exporters, Customs Broker & other stakeholder to PSU banks merger & amalgamation. 2. The following list is of PSU Banks after Merger:-

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