Central Board of Direct Taxes Directorate of Income Tax (Systems) E-2, A.R.A. Centre, Ground Floor Jhandewalan Extension New Delhi – 110055 Checklist to Avoid Mistakes in Filing ITR 7 for AY 2020-21 S. N. Exem-ption claimed under section Return furn-ished section Registr-ation / Approval under section Regist-ration Details Comp-ulsory Appli-cable income Sche-dules to be filled […]
Import of Copra under HS Code 1203 00 00 is allowed through MMTC; while import of Coconut oil- under HS codes 1513 11 00 (Crude) and 1513 19 00 (Others) is allowed through STEs, except STC. MINISTRY OF COMMERCE AND INDUSTRY (Department of Commerce) (DIRECTORATE GENERAL OF FOREIGN TRADE) New Delhi, the 21st December, 2020 […]
SEBI received representation to review the requirement of including all the price movements during the last 15 years, in the historical scenarios prescribed for stress testing.
8th Instalment of Rs. 6,000 crore released to the States as back to back loan to meet the GST compensation shortfall. A total amount of Rs. 48,000 crore released so far to all States and UTs with legislation. This is in addition to additional borrowing permission of Rs. 1,06,830 crore granted to the States
Advisory to follow the ICAI Valuation Standards 2018 while conducting any type of Valuation Engagement to ensure uniformity and transparency.
CA. Atul Kumar Gupta, President, The Institute of Chartered Accountants of India (ICAI) has been elected as the Board Member of International Federation of Accountants (IFAC) at the IFAC Council Meeting in November, 2020. CA. Gupta has been elected for a period of three years from November 2020 to November 2023.
DCIT Vs Expeditors International (India) Pvt. Ltd. (ITAT Delhi) The grievance of the Revenue is that CIT(A) has decided the issue in favour of the assessee by considering the supplementary TNMM analysis and other documents filed before her and those documents were not made available to AO and secondly on merits, the order of TPO […]
Smt. Gyatri Sharma Vs ITO (ITAT Jaipur) From the record, we also noticed that the A.O. has not stated either in the assessment order or in the ordersheets of the assessment proceedings that any notice U/s 143(2) of the Act was issued to the assessee. It is clear that there is no notice U/s 143(2) […]
Gammon India Ltd. Vs Commissioner of Service Tax (CESTAT Mumbai) Mobilization advance is not an advance towards the provision of service and in the nature of loan facility. The ‘mobilization advance’ is adjusted against the final payment due and is not linked to the work but as a pledge of the contract between the appellant […]
DCIT Vs Morarjee Realities Ltd. (ITAT Delhi) ‘Capital Asset’ as defined in Sec.2(14) would mean property of any kind held by an assessee, whether or not connected with his business or profession’, except those which are specifically excluded in the said section. The only exclusion is only for stock in trade, consumables or raw materials […]
