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Subsidies to accelerate industrial development & promote employment opportunities is capital receipt

July 6, 2021 783 Views 0 comment Print

Inox Air Products Private Limited Vs ACIT (ITAT Pune) The issue in the present appeal relates to the subsidy received by the assessee company is whether in the nature of capital or revenue. There is no need to extract the schemes of the subsidy policies of the respective States as the Assessing Officer had set […]

Reassessment vitiated if required procedure not been followed

July 5, 2021 2922 Views 0 comment Print

Sh. Chand Singh Vs DCIT (ITAT Delhi) n the present case it is an undisputed fact that there was a failure by the AO to comply with the mandatory requirement of disposing of the objections raised by the assessee to the reopening of assessment in terms of the law laid down by the Hon’ble Supreme […]

Creation/modification of charges | Companies Act 2013 | Relaxations | FAQs

July 5, 2021 1314 Views 0 comment Print

Institute of Chartered Accountant of India Corporate Laws & Corporate Governance Committee The Institute of Chartered Accountants of India 5th July, 2021 FREQUENTLY ASKED QUESTIONS Sub: Frequently Asked Questions on Circular regarding Relaxation of time for filing forms related to creation or modification of charges under the Companies Act, 2013 issued by the Ministry of […]

IFSCA (Bullion Exchange) (Amendment) Regulations, 2021

July 5, 2021 951 Views 0 comment Print

1. These regulations may be called the International Financial Services Centres Authority (Bullion Exchange) (Amendment) Regulations, 2021. 2. They shall come into force on the date of their publication in the Official Gazette.

Mere mention of receipt of information from DCIT not makes an Assessment/Notice as based on borrowed belief

July 5, 2021 1416 Views 0 comment Print

Raju Bhupendra Desai Vs ITO (Gujarat High Court) There is also no merit in the submission of Mr. Patel that the respondent was carrying out fishing and roving inquiry completely on incorrect facts and based on the borrowed belief of DCIT Central Circle-1(3), Ahmedabad. It may be noted that merely because in the reasons recorded […]

Retrospective exemption & refund of service tax – Tax paid utilising Cenvat credit also refundable

July 5, 2021 4629 Views 0 comment Print

Shanti Construction Co Vs C.C.E. & S.T. (CESTAT Ahmedabad) Retrospective exemption & refund of service tax – Tax paid utilising Cenvat credit also refundable We find that as per the facts before us there is no dispute that the tender was opened on 28.01.2015 and the appellant was declared successful bidder thereafter no separate contract/ […]

BCI constitutes a committee to review Code of conduct for Advocates

July 3, 2021 1989 Views 0 comment Print

The Bar Council of India decides to constitute a committee to review its own Rules seeking to prohibit advocates from criticizing any court, judge, any member of the judiciary, state bar Council or the BCI. Says Rules to remain in abeyance till review committee submits report. Related Post : BCI notifies amendment in rules for […]

FSSAI appoints 124 persons as Food Analysts

July 2, 2021 5025 Views 0 comment Print

Food Safety and Standards Authority of India hereby (FSSAI) appoints 124 persons as Food Analysts, for the purpose of performing functions under the said Act and Rules/ Regulations made thereunder with all India Jurisdiction

Stock Limits and Movement Restrictions on Specified Foodstuffs (Amendment) Order, 2021

July 2, 2021 1665 Views 0 comment Print

(1) This order may be called the Removal of Licensing Requirements, Stock Limits and Movement Restrictions on Specified Foodstuffs (Amendment) Order, 2021. (2) It shall come into force with immediate effect.

SVLDRS 2019: HC directs Designated Committee to follow section 127 procedure

July 2, 2021 918 Views 0 comment Print

Akshaya Aqua Farms Vs Designated Committee (Madras High Court) The petitioner challenges order passed by the first respondent, the Designated Committee rejecting its application under the Sabka Viswas (Legacy Dispute Resolution) Scheme. The order is a one liner, which simply says ‘Dear Taxpayer, your SVLDRS Form for the ARN No LD1112190001929 has been rejected.’ No […]

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