CIT Vs Angels Educational Trust (Madras High Court) With regard to the observation of the appellant that only two of the Trustees were authorized to administer the Trust, the same was held to be not a reason to reject the case of the assessee-Trust and it is common that the day-to-day activities of a Trust […]
R N Khemka Enterprises (P) Ltd. Vs ITO (ITAT Delhi) Co-ordinate Benches of the Tribunal are taking the consistent view that when there is non-application of mind by the AO to the report of the Investigation Wing, such reassessment proceedings are not in accordance with law and such reopening proceedings have been quashed. Since, in […]
Indo-Nepal Remittance Facility Scheme leverages the National Electronic Funds Transfer (NEFT) ecosystem available in the country for origination of such remittances and entails a ceiling of Rs. 50,000 per remittance with a maximum of 12 remittances in a year.
Case No. AD (SSR) – 20/2021 Initiation of sunset Review investigation concerning imports of Toluene Di-isocyanate (TDI), originating in or exported from China PR, Japan and Korea RP.
Edelweiss Asset Reconstruction Co. Ltd. Vs Tax Recovery Officer (Bombay High Court) The moot issue arising herein, whether the secured debt assigned in favour of Petitioner (Edelweiss Asset Reconstruction Co. Ltd.) has a priority over Government dues/tax dues, is, no longer res integra. The Supreme Court in the case of Bombay Stock Exchange Vs. V. […]
1. Taxpayers have now been provided the facility to view/download Electronic cash or Credit ledgers for a period of 12 months. Earlier, the ledgers were allowed to be downloaded for a period of 6 months only. The ledgers can be downloaded in both Excel and Pdf formats. 2. Up-to 6 preferred banks will be shown […]
Confederation of All India Traders urges Minister of Commerce and Industry Shri Piyush Goyal to initiate action against E-pharmacy companies flouting ecommerce laws & rules to invade trade of lakhs of chemists. Text of their letter is as follows:- “Vyapar Bhawan” 925/1, Naiwala, Karol Bagh, New Delhi-110005. Phone: +91-11-45032664, Telefax: +91-11-45082665 E-mail: teamcait@gmail.com Website: www.cait.in 25th August, 2021 Ref. No.: […]
Great Lakes Institute of Management Ltd. Vs Customs, Central Excise and Service Tax Settlement Commission (Madras High Court) The Settlement Commission has rightly formed an opinion that the disputed issues cannot be adjudicated in an application filed to settle the issues. Thus, the spirit of provision under the Central Excise Act, in the matter of […]
Jindal Aluminium Limited Vs DCIT (ITAT Bangalore) We have heard rival submissions and perused the material on record. The Hon’ble Apex Court in the case of Bharat Commerce & Industry v. CIT reported in 230 ITR 733 had held that interest for late payment of direct taxes is not a deductible expenditure. In view of […]
ITAT Delhi upholds addition of Rs. 18.75 crore as deemed dividend in Anil Nanda’s case, citing substantial shareholding and indirect benefits. Appeal dismissed.
