CBIC amends Notification No.12/97-Customs(N.T.), dated the 2nd April, 1997 vide Notification No. 45/2022-Customs (N.T.), Dated: 24.05.2022 MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS) New Delhi, the 24th May, 2022 Notification No. 45/2022-Customs (N.T.) G.S.R. 391(E).—In exercise of the powers conferred by clause (aa) of sub-section (1) of section 7 […]
Notification No. 30/2022-Customs, Dated: 24.05.2022 – Seeks to provide global Tariff Rate Quota (TRQ) of 20 LMT per FY to Crude Sunflower Oil and Crude Soyabean Oil for 2 years exempting from whole of BCD and AIDC MINISTRY OF FINANCE (Department of Revenue) New Delhi Notification No. 30/2022-Customs | Dated: 24th May, 2022 G.S.R. 392(E).—In […]
DC notes that Mr. Kari should have been more careful, diligent, and vigilant in conducting the liquidation process and should have been cautious and prompt in discharging his duties as the Liquidator of the CD. While putting the property to auction, he should have seen whether after successful auction property can be transferred to the […]
Central Government hereby notifies courses offered in Financial Management, FinTech, Science, Technology, Engineering and Mathematics by foreign universities or foreign institutions in the International Financial Services Centre, as financial service.
Asha Bhausaheb Thube Vs ITO (ITAT Pune) Section 54F of the Act requires assessee to purchase new residential house within a period of Two years after the date of Sale or construct within a period of Three years. In this case, it is a fact that assessee has neither purchased nor constructed a residential house […]
Chandrasekaran Ragupati Vs CBDT (Madras High Court) It is the admitted case on the part of the Revenue that, on the last date i.e., on 11.06.2021, which was given to the petitioner to reply ie., upto which the web portal of the respondent was not functioning because of technical glitches. This has been admitted by […]
Considering the emergence of passive funds i.e. Exchange Traded Funds (ETFs) and Index Funds as an investment product for retail investors globally and various advantages of passive investing like transparency, diversification, lower cost vis-à-vis active funds, a need was felt to review the regulatory framework for passive funds in India.
Desmond Savio Theodore Fernandes Vs ITO (ITAT Mumbai) Section 246A(1)(q) specifically includes, in orders appealable before the learned Commissioner (Appeals), ‘an order imposing a penalty under chapter XXI’, and chapter XXI of the Income Tax Act, 1961 covers Sections 270 to 275- Section 270A, dealing with underreporting and misreporting of income, is thus covered by […]
Chain Singh Mundra Vs ITO (ITAT Chandigarh) In the instant case, the limited dispute relates to whether the assessee has transferred a residential house or not. On perusal of the Sale Deed executed by the assessee, it is noticed that what has been transferred is an industrial plot No.C-10 alongwith construction thereon situated at Sector […]
ITAT Bangalore ruling on demonetization cash dispute. Assessing double taxation on demonetized notes as sales proceeds. Learn more about the case.
