ED has carried out searches at 48 locations across the country belonging to VIVO Mobiles India Private Limited and its 23 associated companies under PMLA, 2002. So far, 119 bank accounts with gross balance of Rs. 465 Crore including FDs of 66 Crore of Vivo India, 2kg gold bars, and Rs. 73 Lakh cash have been seized.
Learning Curve Edutech Solutions Pvt. Ltd. Vs PCIT (ITAT Mumbai) ITAT held that PCIT cannot revise an assessment order under sections 263 of Income Tax Act, 1961 in respect of issues already covered during assessment. The law is very well settled that revision jurisdiction under section 263 of the Act could be done only in […]
Commissioner of Income-tax as specified in column (4) of the Schedule below shall be subordinate to the Chief Commissioner of Income-tax specified in column (3) of the said Schedule.
Notification No. 81/2022-Income Tax, Dated: 08.06.2022- Central Government notifies ‘Bihar Electricity Regulatory Commission’ constituted by State Government of Bihar in respect of the specified income under section 10(46) of Income Tax Act, 1961. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) New Delhi, the 8th July, 2022 Notification No. 81/2022-Income Tax S.O. 3142(E).—In […]
Notification issued by Commissioner of State Tax – Exempts the registered person whose aggregate turnover in the financial year 2021-22 is upto two crore rupees, from filing annual return for the said financial year Office of the Commissioner of Commercial Taxes, Ezhilagam, Chepauk, Chennai -600 005 Notification issued by Commissioner of State Tax, under T.N.G.S.T […]
Tulip Infratech Private Limited Vs Addl. CIT (ITAT Delhi) Ld. AO was of the view the assessee has paid EDC for the works carried out by HUDA and hence the same was liable for TDS u/s 194C Ld. AO also noticed that certain tax deductor sought clarification regarding applicability of TDS provisions on EDC charges […]
CESTAT Delhi ruling in Takata India Pvt. Ltd. case clarifies that a general provision for slow-moving inventory, not written off, does not attract Cenvat Credit Rules. Detailed analysis and implications.
Candidates can bring to the notice of the Examination Department, their observations, if any, on the question papers relating to Foundation Examinations being held in June 2022 by e-mail at examfeedback@icai.in or by way of a letter, sent by Speed Post, at the following address, so as to reach us latest by 5th July 2022.
Indian Redcross Society Vs ITO (ITAT Ahmedabad) We note that the Ld. Assessing Officer has not made any additions and nor even discussed the issue on the basis of which the reassessment proceedings were initiated. The assessee had pointed out that the Ld. Assessing Officer had committed a factual inaccuracy by stating that a sum […]
Provisions of Section 194C are not applicable on payments to agencies like HUDA on behalf of the State Government. The imposition of penalty under Section 271C was consequently found to be unsustainable in the absence of default of Section 194C of the Act.
