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Addition merely on the basis of Dumb Documents not sutainable

May 28, 2021 1557 Views 0 comment Print

Smt. Rontala Tirumala Vs ACIT (ITAT Hyderabad) ITAT finds that the statement of the M.D Shri Rontala Raji Reddy was recorded on 17.10.2014 i.e. a day after the survey on 16.10.2014 and the diaries impounded during the course of survey allegedly corroborated the statement. It is a settled position that no addition can be made […]

No addition for duly explained cash received from Sale of Land: Refusal to accept notice is a good service

May 28, 2021 2556 Views 0 comment Print

Sukhdev Singh Vs ITO (ITAT Delhi) As regards the contention of notice not properly served by the Assessing Officer, the explanation of the postal authorities is that the assessee has refused to take notice is a good service and hence ground Nos. 1 to 7 are dismissed. As regards ground Nos. 8 to 13, the […]

Taxable unit is a Foreign Company and not its Branch or PE in India

May 28, 2021 2208 Views 0 comment Print

Morgan Stanley Mauritius Co Ltd Vs DCIT (ITAT Mumbai) The reasoning given by the DRP is ex facie incorrect inasmuch as the SCB-India, being a permanent establishment of a company fiscally domiciled in the United Kingdom, and is not a taxable unit in India, and the taxability is in the name of its general enterprise- […]

Department should not have attached bank account once it came to know of appeal with mandatory pre-deposit

May 28, 2021 1524 Views 0 comment Print

J.S. Grover Autos Pvt. Ltd. Vs Commissioner of Central Goods & Services Tax (Punjab & Haryana High Court) It is undisputed fact that petitioner has filed an appeal before First Appellate Authority against the assessment order, whereby demand was created. It is also undisputed that Board Circulars are binding on department and as per Circular […]

Fast track approval for oxygen cylinder import for COVID relief activities in India

May 27, 2021 978 Views 0 comment Print

A. In case the importer has applied through online application to PESO and the decision is pending in PESO, the exemption allows them to bring oxygen cylinders on urgency for COVID relief activities in India. B. In case the importer has not applied through online application to PESO, the exemption allows them to bring cylinders for urgent use for enhancing oxygen distribution logistics in India.

DoP release SoP for handling Claim related to Loss & Fraud

May 27, 2021 5232 Views 0 comment Print

Department of Posts Standard Operating Procedure (SoP) for handling of ‘Claim Cases’ arising out of loss and fraud cases and introduction of ‘Simplified Standardized Claim Form’.

Anti-Dumping Investigation concerning imports of “Soda Ash”

May 27, 2021 2151 Views 0 comment Print

Case No. (OI – 05/2021) Initiation of Anti-Dumping Original Investigation concerning imports of Soda Ash from United Arab Emirates (UAE) and Russia.

SEBI- Empanelment of forensic auditors for conducting forensic audit

May 26, 2021 3975 Views 0 comment Print

‘SEBI’ invites applications of eligible CA firms / companies (hereinafter referred to as ‘applicant’) for empanelment to take up assignments relating to forensic audit of financial statements of listed companies.

Manual of ‘e-Courts Services Mobile App’ released in 14 languages

May 25, 2021 1545 Views 0 comment Print

E-Committee, Supreme Court of India has released Manual for its top citizen-centric service- free ‘e-Courts Services Mobile app’ in 14 languages (English, Hindi, Assamese, Bengali, Gujarathi, Kannada, Khasi, Malayalam, Marathi, Nepali, Odia, Punjabi, Tamil, Telugu).

Offence under FEMA – Distinction between two stages of adjudication process

May 25, 2021 7794 Views 0 comment Print

J P Morgan India Private Limited Vs Special Director, Directorate of Enforcement and Anr. (Delhi High Court) Brief: Offence under FEMA – Distinction between the two stages of the adjudication process – eligible reasons by the respondent no. 1 for the formation of opinion to proceed with the inquiry against the petitioner. Our Comments: The […]

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