Ministry of Finance Major Racket of Fake Invoicing of Rs.7896 Crore Busted Involving Network of 23 Shell Companies Two Accused Arrested & Remanded to 14 Days Judicial Custody The officers of Anti Evasion wing of Central Tax, Delhi West Commissionerate have busted a major racket of fake invoicing of Rs.7896 crore involving fraudulent Input Tax […]
i. These Regulations may be called the Foreign Exchange Management (Manner of Receipt and Payment) (Second Amendment) Regulations, 2020. ii. They shall come into force from the date of their publication in the official Gazette.
The term Those Charged with Governance (TCWG) refers to either an individual, or a body of individuals, or a separate legal entity with the responsibility for overseeing the strategic direction and accountability of the organisation.
Detention of goods on the ground that the vehicle took a different route or reached wrong destination- The High Court observed that allegation of ‘wrong destination’ or that the driver has taken a different route is not a ground to detain the vehicle carrying the goods or levy tax or penalty. It was held that the fact that the vehicle was found at another place does not automatically lead to any presumption that there was an intention of evasion of tax. The amount collected was directed to be refunded with interest @ 6%.
Daily Fresh Fruits India Pvt. Ltd. Vs Asst. State Tax Officer (Kerala High Court) Detention of goods on the ground of wrong classification of goods- The High Court quashed detention order on the ground that this was a bona-fide case of dispute in the classification of goods and directed release of goods. FULL TEXT OF […]
We find that the claim of depreciation in respect of license/ registration fee paid by the assessee to the Indian Railways is an asset whereon depreciation u/s. 32(1) is allowable.
MGF Event Management Vs CCE (CESTAT Delhi) We cannot accept the appellant‘s plea that huge parking space area was given to the appellant without any agreement with respect to financial consideration or without an agreement with respect to contingent liabilities with respect to theft, injuries, fire or other liabilities. It is difficult to believe that […]
Permanently disabled child/children or sibling can be co-authorized in the PPO issued to the retiring Government servant if there is no other eligible prior claimant for family pension other than the spouse.
The subscribers of RD/PPF/SSA Accounts may deposit the mandated due amount, if any of current F.Y. (2019-20) and April, 2020 (as the case may be) in their respective accounts till 30th June, 2020 and no penalty/revival fee shall be charged
Sunita Palta & Ors. Vs. Kit Marketing Pvt. Ltd. (Madras High Court) Non-Executive Directors are, therefore, persons who are not involved in the day-to-day affairs of the running of the company and are not in charge of and not responsible for the conduct of the business of the company.’ Admittedly, the petitioners are neither the […]
