Seeks to rescind notification No. 11/2018-Customs (ADD), dated 20.3.2018, in pursuance of New Shipper Review final findings issued by DGTR vide Notification No. 35/2019-Customs (ADD) dated: 06th September, 2019. Government of India Ministry of Finance (Department of Revenue) Notification No. 35/2019-Customs (ADD) New Delhi, the 06th September, 2019 G.S.R. (E).- In exercise of the powers conferred […]
Addition on account of cash deposits can be made only if the source of the deposits remains unexplained. If, on the other hand, the cash deposits in the bank are from the regular books of account maintained by the assessee, then such transactions cannot be said to be unexplained.
Notification No. 42/2019-Customs (N.T./CAA/DRI), Dated: 06.09.2019 appointment of common adjudicating authority by Director General, Revenue Intelligence. Government of India Ministry of Finance (Department of Revenue) Central Board of Indirect Taxes and Customs Directorate of Revenue Intelligence Notification No. 42/2019-Customs (N.T./CAA/DRI) New Delhi, dated the 06th September, 2019 S.O. 3245(E).– In pursuance of notification No. 60/2015-Customs (N.T.), […]
We hold that there is no immunity to the companies from prosecution merely because the prosecution is in respect of offences for which the punishment prescribed is mandatory imprisonment.
The parameters for manual selection of returns for Complete Scrutiny during financial year 2019- 20 are as under.- (i) Cases involving addition in an earlier assessment year(s) on a recurring issue of law or fact:- (a) exceeding Rs. 25 lakhs in eight metro charges at Ahmedabad, Bengaluru, Chennai, Delhi, Hyderabad, Kolkata, Mumbai and Pune while at other charges, quantum of addition should exceed Rs. 10 lakhs; (b) exceeding Rs. 10 crore in transfer pricing cases.
ACIT Vs M/s. E-city Projects Construction Pvt. Ltd. (ITAT Mumbai) The Tribunal in its Judgment, while appreciating the facts, has observed that the various malls are built by Assessee and are operated from the year 2001. The operational income received from the said activity, in the form of rent, and other service charges was consistently […]
DCIT Vs District Cooperative Bank Ltd. (ITAT Delhi) The assessee has claimed before us that the amount of closing allowance has been paid to the employees from year to year in percentage terms of salary and therefore duly quantifiable provision. The Ld. DR also could not controvert this fact that the amount of closing allowance […]
Amendment in import policy of Iron & Steel and incorporation of policy condition in Chapter 72, 73 and 86of ITC (HS), 2017, Schedule — I (Import Policy). Government of India Ministry of Commerce & Industry Department of Commerce Directorate General of Foreign Trade Notification No. 17/2015-2020-DGFT New Delhi, Dated: 5 September, 2019 Subject: Amendment in […]
CBIC has felt the need for providing general guidelines / eligibility criteria so that reach of DPD could be made maximized. Importers who have so far not availed the benefit of DPD for reasons including lack of awareness, may now join this program with certainty.
We request your goodself to kindly consider amendment in the explanation to section 288(2) of the Income Tax Act,1961 so as to include the Company Secretaries as defined under clause (c) of sub-section (1) of section 2 of the Company Secretaries Act,1980 who shall be deemed ‘to be in practice ‘ under sub-section (2) of section 2 of the Company Secretaries Act,1980 in the definition of ” Accountant”.
