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Govt rescinds ‘Mineral (Mining by Government Company) Rules, 2015’

November 2, 2021 2196 Views 0 comment Print

Govt notified rules for granting mining lease to Government companies vide Notification No. G.S.R. 927(E) dated 3rd December, 2015 which Govt has now rescinded vide Notification No. G.S.R. 777(E) Dated: 2nd November, 2021. MINISTRY OF MINES NOTIFICATION New Delhi, the 2nd November, 2021 G.S.R. 777(E).—In exercise of the powers conferred by section 13 of the […]

Society claiming INR 7500 exemption cannot avail ITC

November 2, 2021 6309 Views 0 comment Print

In re Vishal Cooperative Housing Society Limited (GST AAR Maharashtra) According to circular number 109/28/2019-GST dated 22 July 2019 RWAs are entitled to take ITC on GST paid by them on capital goods (generators, water pumps, lawn furniture etc.), goods (taps, pipes, other sanitary and hardware fittings etc.) and input services such as repair and […]

AAR allows Rotary Club of Bombay Sea Face to withdraw application

November 2, 2021 1275 Views 0 comment Print

The Application in GST ARA Form No. 01 of M/s. Rotary Club of Bombay Sea Face, vide reference ARA No. 15 dated 02.09.2020 is disposed of, as being withdrawn voluntarily and unconditionally

Format of Deceleration of Income Tax Deduction Claimed & House Rent Receipt

November 2, 2021 24162 Views 0 comment Print

Proof of savings/documents viz. insurance premium receipt, NSC, Infrastructure Bond, PPF Bank Statement, Housing Loan Certificate from bank, rent receipt, Copy of House Owner’s Pan Card etc

ITAT restricts addition based on noting in diary to 10% of gross receipts

October 31, 2021 1254 Views 0 comment Print

Smt. Bhavana Jain, Prop. M/s Akash Metal Vs ITO (ITAT Delhi) The assessee’s explanation with regard to interest in the loose sheet i.e. blue diary found during the course of search was that it was for the purpose of memory and the addition could not have been made solely on the basis of loose paper […]

Faceless Assessment Order passed without issuance of Draft Assessment Order quashed by HC

October 31, 2021 5352 Views 0 comment Print

Shreeji Investment & Advisory Services Vs National Faceless Assessment Centre (Bombay High Court) As regards draft assessment order, the impugned order does not state that any draft assessment order was given but in the affidavit in reply filed by one Sreekala S. Nair affirmed on 21st September 2021, it is stated that the show cause […]

Section 35(1)(ii): CBDT approves ‘Pimpri Chinchwad Education Trust’

October 31, 2021 1578 Views 0 comment Print

CBDT approves ‘Pimpri Chinchwad Education Trust’, Pune under the category ‘University, College or Other Institution’ for Scientific Research for section 35(1)(ii) of Income-tax Act, 1961 read with rules 5C and 5E of the Income-tax Rules, 1962. vide Notification No. 128/2021-Income Tax | Dated: 31st October, 2021. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF […]

Export policy of SCOMET items for supplies/exports from DTA to SEZ/EOU & outside country clarified

October 29, 2021 1929 Views 0 comment Print

Existing entry at Para 2.76 of HBP of the FTP 2015-20 has been modified to bring out clarity on export policy of SCOMET items for supplies/exports from DTA to SEZ/EOU and outside the country. MINISTRY OF COMMERCE AND INDUSTRY (Department of Commerce) (DIRECTORATE GENERAL OF FOREIGN TRADE) PUBLIC NOTICE NO. 32/2015-2020 New Delhi, the 29th […]

CBIC Notifies Rate of Exchange of ‘South African Rand’ wef 30.10.2021

October 29, 2021 738 Views 0 comment Print

CBIC notifies Rate of Exchange of South African Rand against Indian Rupees with effect from 30th October, 2021, vide Notification No. 88/2021-Customs (N.T.) | Dated: 29th October, 2021. GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) (CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS) ***** Notification No. 88/2021 – Customs (N.T.) New Delhi, dated the […]

HC allows provisional release of goods detained by Custom Dept for re-export

October 29, 2021 1566 Views 0 comment Print

Modern Insecticides Limited Vs Commissioner of Customs and others (Punjab and Haryana High Court) In the present case, it has come on record that the samples with respect to the goods in question have already been taken by the Authorities. Moreover, the petitioner is a 100% export-oriented unit and thus, any difference in the declaration […]

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