ICSI implements New Training Structure under CS (Amendment) Regulations, 2020 The Institute of Company Secretaries of India (ICSI) implemented its New Training Structure on 3rd February, 2021, as per Regulation 46BA and 46BB under The Company Secretaries (Amendment) Regulations, 2020. The new training structure will harness the soft skills and develop the core competencies of […]
Commercial Taxes Officer Vs Bhagat Singh (Supreme Court) In the case of a Casual Trader, the time limit for assessment is one year from the date of making the report, and if no report is made, within two years from the date of the transaction. The date of transaction in this case is 26.12.2009. The […]
Not disclosing information of pending criminal proceedings to register as valuer with IBBI violates Model Code of Conduct The Authority observed that the criminal case was filed on 29.12.2015 and that Mr. Goge had appeared before the Learned Special Judge and was granted bail on furnishing surety. The submission of Mr. Goge that only charge […]
R.N. Shetty Trust Vs ACIT (ITAT Bangalore) As per Section 153C of the Act, the Assessing Officer of searched person shall proceed against such other person on reaching satisfaction that any undisclosed income belonging to such other person over whom he has no jurisdiction then he has to transmit the seized material to the Assessing […]
The Reserve Bank of India (RBI) today released the Annual Report of the ‘Ombudsman Schemes of the Reserve Bank for the year 2019-20’. The Banking Ombudsman Scheme (BOS) was first notified by the Reserve Bank in 1995 under Section 35 A of the Banking Regulation Act, 1949.
DCIT Vs NLC India Ltd. (ITAT Chennai) The main objection of the AO is that the new unit started cannot be considered as separate undertaking because it is using the same manufacturing technology and the finished goods are also the same, i.e., power. The new unit, i.e., unit TPS-I Expansion is nothing but the expansion […]
FIH India Private Limited Vs DCIT (ITAT Chennai) There is no dispute with regard to the fact that the assessee has written off input Service Tax during the impugned financial year relevant to assessment year 2010-11. But, the dispute is with regard to deductibility of input service tax. The AO has disputed deduction claimed by […]
The Hon’ble Finance Minister has presented to Parliament the Union Budget for the financial year 2021-22. It is the first budget of this new decade and appropriately also a digital one in the backdrop of the unprecedented COVID-19 crisis. Apart from tax proposals, there are many provisions in the Budget which when approved, would take forward our indirect taxes initiatives.
The following categories of the individual products or add-ons or riders of health insurance business offered by General and Health Insurance Companies (hereafter referred as insurers) are permitted to be launched through Use and File Procedure by duly complying with the norms specified in these guidelines.
Infrastructure Development Fund Vs DCIT (ITAT Chandigarh) The Tribunal adjudicating on the identical issue, has held that if form No. 10 is filed during the continuation of the assessment proceedings that should have been taken into consideration by the Assessing Officer. That non filing of the Form No. 10 within stipulated period may be an […]
