Relaxations provided under Gas Cylinders Rules, 2016,so as to fast track approvals for imported cylinders and pressure vessels for storage and transportation of medical oxygen Government of India has reviewed the existing procedure for approval of global manufacturers for importing oxygen cylinders by Petroleum and Explosive Safety Organization (PESO). In view of the COVID pandemic, […]
ESIC extends date for filing of ESI contribution for the month of April, 2021 The country is dealing with a very challenging situation due to second wave of COVID-19 Pandemic. Many establishments are temporarily closed and workers are unable to work. In line with the relief measures being extended by Government to business entities and […]
The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi has approved signing of Memorandum of Understanding (MoU) between Institute of Chartered Accountants of India (ICAI) and Qatar Financial Centre Authority (QFCA).
Securities and Exchange Board of India Consultation Paper on ‘Review of the regulatory framework of promoter, promoter group and group companies as per Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018‘ I. Objective 1) The objective of this consultation paper is to seek comments / views from the public […]
Talera Automobiles Private Limited Vs ACIT (ITAT Pune) This appeal by the assessee arises out of the order dated 21-07-2017 passed by the CIT(A)-5, Pune in relation to the assessment year 2009-10. 2. The only issue raised in this appeal is against the confirmation of disallowance of foreign travel expenses amounting to Rs.9,29,041/-. 3. Briefly […]
IMA is astonished to see the extreme lethargy and inappropriate actions from the Ministry of health in combating the agonizing crisis born out of the devastating second wave of the COVID-19 Pandemic. The collective consciousness, proactive cognizance, and requests made by IMA and other professional learned colleagues are put into the dust bin, and often without realizing the ground realities the decisions are taken.
Nutan Warehousing Co. Pvt. Ltd. Vs ACIT (ITAT Pune) The concept of `accrual of income’ needs to be considered in the hue of the ‘real income theory’. Where accrual of an income takes place but its realisation becomes impossible, such hypothetical income cannot be charged to tax. In the case of mercantile system of accounting, […]
Sri Pradip Kumar Basu Vs ITO (ITAT Kolkata) It is observed that the long-term capital gain of Rs.6,14,674/- had arisen to the assessee as a result of residential property sold on 12.06.2013 and in order to claim exemption on account of long-term capital gain under section 54EC of the Act, the assessee was required to […]
Amendment in import policy of Integrated Circuits (lCs) and incorporation of policy condition for HS Codes 85423100, 85423900, 85423200, 85429000, and 85423300, of Chapter 85 of ITC (HS), 2017, Schedule – I (Import Policy). Import policy of item listed above shall be subject to Chip Imports Monitoring System (CHIMS) with effect from 01.08.2021. Government of […]
All India Mobile Retailer Association has written a letter to Chief Minister of Haryana and requested Complete Restriction in Delivery of Non-Essential Items by all platforms (Online & Offline) & also made Vaccination Request. To, Shri Manohar Lal Khattar Honourable Chief Minister Government of Haryana, Chandigarh Dated: 5 May 2021 Subject: Complete Restriction in Delivery […]
