Export policy of Agar Oil and Agarwood (Aquilaria Malaccensis) Chips and Powder has been amended from Free to Restricted with immediate effect. Export Quota of 25000 Kg per annum for Agarwood (Aquilaria Malaccensis) Chips and Powder and Export Quota of 1500 Kg per annum for Agar Oil has been notified. The policy condition regarding export […]
ITAT has taken the view that it is open to the parties in Transfer Pricing cases to take a stand contrary to their TP study, if they contend that the stand taken in the TP study is contrary to facts or was erroneous. Such a claim cannot be disregarded only on the basis that it is contrary to Assessee’s own stand in the TP study.
The Applicant, vide their letter dated 16.08.2021, has informed this authority that they wish to withdraw their application. Further the applicant has to discharge fee of Rs.5,000/- each in terms of Section 97(1) of the CGST Act 2017 as well as KGST Act 2017, whereas the applicant has discharged the fee of Rs.5,000/- only under KGST Act 2017 and hence the instant application is liable for rejection under Section 98(2) of CGST Act 2017.
In re NPS Industries (GST AAR Karnataka) i. Rate of tax on trailers registered to be used for agriculture purpose. ii. Rate of tax on trailers without tipping kit and to be registered for use for agricultural purposes. But the Applicant, vide their letter dated 16.08.2021, requested to permit them to withdraw the instant application, […]
The portion of the observations that are highlighted would reflect on the professional conduct of the petitioner, argues his counsel; learned Panel Counsel appearing for the respondents opposes the writ petition contending that the said observations are case specific and therefore petitioner may not read too much in that; so contending he seeks dismissal of the writ petition.
TCI Exim Pvt. Ltd. Vs ACIT (ITAT Delhi) The Delhi bench of the Income Tax Appellate Tribunal (ITAT), Delhi bench has held that loan on interest received from the sister concern to fulfill the enhanced requirement of working capital for export orders does not attract the provisions of deemed dividend under section 2(22)(e) of the […]
CMA P.Raju Iyer has been elected as the President and CMA Vijender Sharma has been elected as the Vice-President of the Institute of Cost Accountants of India for the year 2021-22.
Qualcom Technologies Inc. Vs DCIT (ITAT Delhi) ITAT held that Considering the assessment order of the AO wherein he has followed the findings given in earlier assessment years and considering the fact that the same agreement is being carried on since A.Y.2005-06, we do not find any reason in differing with the view taken by […]
Royal Western India Turf Club Vs PCIT (ITAT Mumbai) Undisputedly, the original assessment in case of the assessee was completed under section 143(3) of the Act on 06-02-2014. Subsequently, the assessment was reopened under section 147 of the Act and notice under section 148 of the Act was issued to the assessee on 26-03-2018. The […]
Suvikram Plastex Pvt Ltd Vs CCT (CESTAT Bengalore) Transition of unutilised Input Tax Credit could be allowed only in respect of taxes and duties which were subsumed in the new GST Law. Admittedly, the three types of Cess involved before us, namely Education Cess, Secondary and Higher Education (SHE) Cess and Krishi Kalyan Cess were […]
