Government e-Market portal touches an annual procurement of INR 1 Lakh crore within FY 2021-22 The number of orders surpasses 31.5 Lakh in the current financial year with a growth rate of 22% In a short span of 5 years, GeM becomes one of the largest government e-procurement platforms in the world GeM endeavours to […]
IRDAI permits Insurers to classify investments in Preference Shares and Equity Shares as part of Approved Investment if dividend is paid on such Shares for at least 2 years out of 3 consecutive years immediately preceding instead of for at least 2 consecutive years immediately preceding (as required under Regulation 3(a)(4) and 3(a)(5) of IRDAI (Investment) Regulations, 2016) for the period from 1st April, 2022 to 30th September, 2022.
Income Tax Department carried out a search and seizure operation on 14.03.2022 on a popular chain of educational institutes, running several schools and colleges at multiple locations in India and abroad. The search operation covered more than 25 premises spread over locations in Maharashtra, Karnataka and Tamil Nadu.
E-Way Bill limit extended to Rs. 2 Lakh in Rajasthan wef 1st April 2022, Where the Goods movement commence and terminates within the area of same city without crossing the area of the city. GOVERNMENT OF RAJASTHAN COMMERCIAL TAXES DEPARTMENT NOTIFICATION Jaipur, dated: February,ak-1,2022 In exercise of the powers conferred by clause (d) of sub-rule […]
ACIT Vs Sreeleathers (ITAT Kolkata) Firstly the survey statement has been recorded by DDIT(Inv) in some third party case and not that of assessee. Secondly the deponent has been administered oath before his statement was recorded, which is not in accordance to Section 133A of the Act and the Hon’ble Supreme Court in Khader Khan […]
Now, a functionality in the name of ‘Restoration of Cancelled Registration’ has been developed and deployed e.f. 23.03.2022, to facilitate the jurisdictional Range officers to restore the registrations in pursuance of judicial / appellate orders.
The Transaction Advisor appointed for the privatisation of BPCL had informed that multiple Expressions of Interest (EoIs) had been received for privatisation of BPCL, and the transaction is in second stage of the process. This was stated by Union Minister of State for Finance Dr Bhagwat Kisanrao Karad in a written reply to a question […]
Central Government orders and assigns to SFIO, investigation cases involving many companies where alleged fraudulent activities by corporates are reported which includes cases of misappropriation of funds by the promoters / top management and cheating the lenders.
Deloitte Haskins & Sells Vs Additional Director of Income Tax (ITAT Kolkata) ITAT, Kolkata has specifically propounded that if employees’ contribution received by an assessee and paid to ESI and PF accounts before the due date of filing of the return, then the assessee will be eligible to claim the deduction of such amounts. With […]
GMR Aerospace Engineering Limited Vs Union of India (Telangana and Andhra Pradesh High Court) Hon’ble Telangana and Andhra Pradesh High Court in GMR AEROSPACE ENGINEERING LIMITED AND ANOTHER Vs. UNION OF INDIA AND OTHERS mentioned that as long as the services are used for authorized operations of the SEZ unit. the same should be exempted from the […]
