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No lack of Jurisdiction if AO of searched person recorded his satisfaction & provided seized material to AO of assessee

August 28, 2020 840 Views 0 comment Print

Akarsh Residence Pvt. Ltd. Vs DCIT (ITAT Bangalore) As per the facts noted by learned CIT(A) in the relevant paras of his order as reproduced above, it comes out that search was carried out in the case of M/s. Adarsh Developers and incriminating documents were found and seized in the course of search and those […]

Investigation concerning imports of 2-Ethyl Hexanol- Reg.

August 28, 2020 732 Views 0 comment Print

Case No. AD-SSR-12/2020 Initiation of sunset review investigation concerning imports of 2-Ethyl Hexanol from European Union, Indonesia, Korea RP, Malaysia, Taiwan and United States of America

Roll out of GST Investigation Module – Phase-1

August 28, 2020 3210 Views 0 comment Print

GST Investigation module has been designed keeping the current work flow in a distinct CBIC’s investigative Unit’s functions and to replace the manual and paper based environment with a digital mode.

HC Stays Insolvency Proceedings initiated by SBI against Anil Ambani

August 27, 2020 1476 Views 0 comment Print

Delhi High Court stays IBC proceedings against Anil Ambani. Counter-affidavits to be filed. Proceedings against petitioner under Part-III of IBC stayed.

Allow petitioner to upload appeal on GST Web Portal on payment of agreed tax, interest & penalty: HC

August 27, 2020 1050 Views 0 comment Print

Sanyog Construction Private Limited Vs State of Bihar (Patna High Court) Learned Counsel appearing for the State, states that if the petitioner deposits the amount towards tax, interest, fine, fee and penalty as admitted by him and also a sum equal to 10% of the remaining amount of tax in dispute arising from the impugned […]

Section 148 Notice to Legal heirs after expiry of limitation period is invalid

August 27, 2020 9945 Views 0 comment Print

Sh. Shambhu Dayal, Ravi Dutt, Gori Shankar Rajesh Rohit L/h Late Sh. Jhabar Mal (ITAT Jaipur) The undisputed facts are that the assessee, Shri Jhabar Mal Kumawat had expired on 10.10.2015 as noted by the AO in the assessment order. Thereafter, the reasons for reopening the assessment u/s 147 were recorded and after seeking approval […]

Procedural Guidelines for Proxy Advisors applicable from 01.01.2021

August 27, 2020 573 Views 0 comment Print

Provisions of said SEBI Circular on Procedural Guidelines for Proxy Advisors applicable shall be applicable with effect from January 01, 2021.

Kolkata Customs seize 25 antiques idols valued at Rs 35.3 crore

August 26, 2020 849 Views 0 comment Print

On the night of 23rd August 2020, the Commissionerate of Customs (Preventive), West Bengal, seized 25 Antiques at South Dinajpur District of West Bengal which were being taken to Bangladesh, through Kaliyaganj border concealed in a Truck carrying Paddy.

Faceless Tax Assessment System is designed for 21st century

August 26, 2020 1818 Views 0 comment Print

A National e-Assessment Centre (NeAC) and a network of Regional e-Assessment Centres will be set up to implement the Faceless Assessment Scheme of the Income Tax Department, launched nation-wide by Prime Minister Shri Narendra Modi on 13th August, 2020.

Discussion Paper on Corporate Liquidation Process

August 26, 2020 1887 Views 0 comment Print

Resources are scarce and have competing requirements. Further, the market and organizational failures do happen in a dynamic market conditions, requiring the reallocation of capital from inefficient to efficient uses and redeployment from failing companies to the ones which have better ideas about the ways and means to enhance the efficiency of the scarce capital.

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