After consultation with stakeholders, it has been decided to introduce the following in addition to the already specified modes under the ASBA Circular: 2.1.1. Providing an option to investors to apply in public issues of debt securities through the app / web interface of Stock Exchange(s) with a facility to block funds through Unified Payments Interface (UPI) mechanism for application value upto Rs. 2 Lac;
In re Kakatiya Cement Sugar & Industries Ltd (GST AAR Andhra Pradesh) 1. Can the tax paid at wrong jurisdiction be appropriated and 2. Refund of accumulated GST paid on Lime Stone Royalty under RCM. Applicant sought Advance Ruling on questions of ‘appropriation of taxes’ and ‘refund’ which is outside the purview of the Advance […]
ACIT Vs National Film Development Corporation Ltd. (ITAT Mumbai) We are of the opinion that considering the facts that assessee’s business -production of films for Ministries of Government of India and various government departments-and the durations for which the amounts were kept with banks the income earned by it has to held as business income. […]
Bharat Coking Coal Ltd. & Ors. Vs Shyam Kishore Singh (Supreme Court of India) This Court has consistently held that the request for change of the date of birth in the service records at the fag end of service is not sustainable. In the instant case, as on the date of joining and as also […]
EPFO) stated that an article was published in a section of media on 18.11.2020 under the caption EPFO subscribers, firms down in Oct. In this regard, EPFO has categorically clarified that the information contained in the article is incorrect and unsubstantiated.
A representation has been received in Board regarding the eligibility of the exemption available under No. 104/94-Cus. dated 16.03.1994, for durable containers which do not conform to the standard marine container dimensions, but which are intended for temporary import and eventual re-export.
The amendment brought about by way of Explanation 2 to section 37 by Finance Act, 2014, was only with effect from 01.04.2015. ITAT held that the amendment in question is not retrospective. Expenditure incurred in CSR in accordance with guidelines issued by the Govt. of India is allowable as a deduction for both A.Y. 2013-14 and A.Y. 2014-15. In the result, both the appeals of the assessee are allowed.
Ram Prasad Sharma Vs. Chief Commissioner and another (Madhya Pradesh High Court) petitioner has drawn the attention of this Court to the provision of Rule 142(1) of CGST Act to contend that the said provision statutarily obliges the revenue department to communicate show-cause notice/order by uploading the same on the website of revenue so that […]
SOPs for AU, VU, TU and RU approved by CBDT for implementation of Faceless Income Tax Assessment Scheme, 2019 (FAS-2019). The same may be disseminated among the Units under your region for compliance by all of them.
Shri Shyam Baba Edible Oils Vs Chief Commissioner and another (Madhya Pradesh High Court) In the case of Shri Shyam Baba Edible Oils Vs Chief Commissioner and another it was held by Madhya Pradesh High Court that If mandatory procedures as per rule not followed the orders passed are bad in law under GST. It […]
