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Central Payments Fraud Information Registry – Migration of Reporting to DAKSH

December 26, 2022 1788 Views 0 comment Print

RBI had operationalised the Central Payments Fraud Information Registry (CPFIR) in March 2020 with reporting of payment frauds by scheduled commercial banks and non-bank Prepaid Payment Instrument (PPI) issuers.

Notification No. 27/2022- Central Tax | Dated: 26.12.2022

December 26, 2022 12183 Views 1 comment Print

Notification under sub-rule (4B) of rule 8 of CGST Rules, 2017 –  Notification No. 27/2022- Central Tax | Dated: 26.12.2022 MINISTRY OF FINANCE (Department Of Revenue) (CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS) Notification No. 27/2022- Central Tax | Dated: the 26th December, 2022 G.S.R. 903(E).—In pursuance of the powers conferred by sub-rule (4B) of […]

Delay in filing of e-form MGT-14 – MCA imposes penalty on Company & Directors

December 26, 2022 1989 Views 0 comment Print

Company filed e-form MGT-14 for Alternation of Articles of Association by incorporating provisions such as Conversion of Loan into Equity Shares in respect of Shareholders approval of members of company by delay of 45 days.

Result of ICSI Regional Constituency Election

December 26, 2022 1098 Views 0 comment Print

List of candidates declared elected to ICSI Council from Regional Constituencies (EIRC, SIRC, NIRC, WIRC) after counting of votes held from 19th to 22nd December, 2022

HC quashed section 148 notice issued more than six years after the end of relevant AY

December 26, 2022 4644 Views 0 comment Print

Stalco Consultancy & Systems Private Limited Vs PCIT (Orissa High Court) HC relied on the Supreme Court judgment in Union of India v. Ashish Agarwal and quashed notices under Section 148 of the Act which were issued prior to 1st April, 2021 but beyond the period of six years after the expiry of the relevant […]

CBDT notifies Special Courts in Odisha under Black Money Act

December 26, 2022 1041 Views 0 comment Print

CBDT notifies Special Courts in Odisha vide Notification No. 127/2022-Income Tax | Dated: 26th December, 2022 under Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) (INVESTIGATION DIVISION-V) New Delhi Notification No. 127/2022-Income Tax | Dated: 26th December, 2022 S.O. 6066(E).—In exercise […]

Weekly newsletter from Chairman, CBIC dated 26.12.2022

December 26, 2022 555 Views 0 comment Print

Our work is vitalized by the law – be it Customs, GST, Central Excise, Narcotics or any of the other that we are enjoined to administer. While law is essentially prescriptive and its express wording is meant to circumscribe our actions as administrators

HC upheld reassessment proceedings as assessee filed his returns late

December 25, 2022 4266 Views 0 comment Print

Hede Ferrominas Pvt. Ltd Vs ACIT  (Bombay High Court) Firstly, the Petitioner did not bother to file any returns during Assessment Year 2015-16. Secondly, the Petitioner did not bother to file any response to the notice dated 27.03.2021 seeking to reopen the assessment within the time limit allowed to the Petitioner. The Petitioner filed returns […]

AO not examined section 54B/54F basic conditions – ITAT refers matter back to AO

December 25, 2022 903 Views 0 comment Print

Sejalbhai G. Patel Vs ITO (ITAT Surat) Learned Departmental Representative (ld. DR) for the Revenue submitted that in order to claim the exemption under section 54B of the Act, the agricultural land should be purchased within two years from the date of sale of the original agricultural That is, the agricultural land must have been […]

CESTAT cannot grant reliefs extraneous to adjudication

December 25, 2022 657 Views 0 comment Print

Minvesta Infotech Ltd Vs Commissioner of GST & Central Excise (CESTAT Chennai) It is argued by the learned consultant that prior to introduction of GST, appellant would have been able to take re credit of the said amount when refund claims are denied as time-barred. After the introduction of GST, the appellant is not able […]

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