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Conveyance allowance will not be a ‘wage’ under ESI Act: ESIC

November 8, 2021 11202 Views 1 comment Print

Hon’ble Supreme Court, in M/s Texmo Industries Vs. ESIC held that the payment of Conveyance Allowance on the fact of present case does not fall under the definition of term ‘wages’ as defined in section 2(22) of the ESI Act.

MahaRERA streamline process of hearing/disposal of complaints

November 8, 2021 2457 Views 0 comment Print

Following further procedure is prescribed in the matter of hearing to be conducted by the MahaRERA Conciliation and Dispute Resolution Forum in referred conciliation matters (online complaints) transferred by MahaRERA so as to achieve speedy disposal of complaints.

AAR rejects application as proceedings on similar issue was pending before DGGI

November 5, 2021 1002 Views 0 comment Print

In Re M/s. Megha Engineering & Infrastructures Limited (GST AAR Telangana) In the present case as the DGGI, Hyderabad has conducted search of the premises of the applicant under Chapter-XIV of the CGST Act, 2017. It was addressed by the authority to ascertain whether any proceeding is pending before them regarding the questions raised by […]

Section 43B is of no consequence to judge applicability of section 36(1)(va)

November 3, 2021 1668 Views 0 comment Print

Now it has been provided that the due date in section 43B is of no consequence to judge the applicability of provisions of section 36[1][va]of the Act and that too with effect from 01.04.2021.

DGGI Jaipur Zonal Unit detects Excise & GST evasion of Rs. 870 crores

November 1, 2021 1716 Views 0 comment Print

DGGI Jaipur Zonal Unit has made a Central Excise and GST evasion case of Rs. 870 crores pertaining to clandestine manufacture and supply of tobacco products. Rs. 10 crores has been recovered, with an arrest of one person so far.

ICAI President’s Message – November 2021

October 31, 2021 651 Views 0 comment Print

Dear Professional Colleagues, India has achieved a major milestone with 100 Crore vaccines administered to the eligible population under the vaccination drive. Commendable efforts and kudos to all our COVID heroes for working tirelessly to achieve this milestone. This is indeed a testimony of our enterprise and collaborative spirit in the wake of challenging times. […]

Penalty not sustainable if AO dropped penalty in earlier AY on same set of facts

October 31, 2021 1134 Views 0 comment Print

Action Construction Equipment Ltd. Vs DCIT (ITAT Delhi) The Assessing Officer has not given any reason as to why he dropped the penalty in Assessment Year 2010-11 and sustained the imposition of penalty for Assessment Year (AY) 2009-­10 under the same set of facts. Moreover, in the impugned penalty order, the Assessing Officer has stated […]

If AO made addition on estimated GP basis than other item-wise disallowance should not be made

October 29, 2021 3015 Views 0 comment Print

Devyani Tex Chem Pvt. Ltd. Vs ACIT (ITAT Surat) From the above facts it is abundantly clear that books of accounts of the assessee were rejected by the assessing officer and on appeal, ld CIT(A) upheld the rejection of books of accounts and reduced the profit estimation. We also upheld the order of ld CIT(A), […]

MahaRERA: Promoters to submit Report from CERSAI on security interests created

October 29, 2021 10824 Views 0 comment Print

Maharashtra Real Estate Regulatory Authority Date: 29/10/2021 Order No: – 26/2021 No. MahaRERA/Secy/File No. 27/234/2021 Subject: Report From CERSAI Whereas Ministry of Finance notified the establishment of the Central Registry Securitisation Asset Reconstruction and Security Interest of India (CERSAI), a Government Company, incorporated for the purpose of operating and maintaining the Central Registry under the […]

ITC eligible on services for Operation & Maintenance of Vessels

October 29, 2021 5130 Views 0 comment Print

In re Sikka Ports & Terminals Limited (GST AAR Gujarat) Whether the Applicant is entitled to avail Input Tax Credit (‘ITC’) on services procured for the operation and maintenance of Diving Support Vehicle owned by them and used by it for supplying port and terminal handling services and Whether the Applicant is entitled to avail […]

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