The issue under consideration is whether the disallowance u/s 14A can exceed the amount of exempt income? In the light of the order of M/s.Century Real Estate Holdings Pvt. Ltd. v. ACIT (supra), ITAT hold that the disallowance u/s 14A of the I.T.Act cannot exceed the exempt income.
Amid the COVID 19 pandemic, there are rising incidences of cyberattacks and a growing number of high-profile data breaches. It is felt that cybersecurity is the most important need for all sectors today to address the numerous risks posed by cyber-attacks.
Assessee made the detailed submissions inter alia contending that the provision of section 194H, 194C, 194J were not applicable to the case because the payment was not for any contractor of services or work, there was no relationship of agency.
Seeks to amend notification No. 49/2015-Customs (ADD), dated 21st October, 2015 to extend the levy of ADD on imports of ‘Front Axle Beam and Steering Knuckles meant for heavy and medium commercial vehicles’ originating in or exported from China PR, for a period upto and inclusive of the 30th November, 2020. Notification No. 31/2020-Customs (ADD) […]
Assistant Commissioner of CGST and Central Excise Vs Sutherland Global Services Private Limited (Madras High Court) Whether the Assessee is entitled to utilise and set off the accumulated unutilised amount of Education Cess (EC), Secondary and Higher Education Cess (SHEC) and Krishi Kalyan Cess (KKC), all jointly referred to as the “Cess” against the Output […]
Confederation of GST Professionals and Industries Vs Union of India (Bombay High Court) CGPI had filed writ petition for extension of due date of GSTR 9 and 9C before Bombay high court and Honorable High Court has fixed next hearing on 27th October, 2020. FULL TEXT OF THE HIGH COURT ORDER /JUDGEMENT Heard learned Sr. […]
A speculative news story being circulated in some section of media claiming that Attorney General has given opinion in favour of not appealing in the Vodafone Arbitration award is totally incorrect and without any factual basis.
The DC further notes that an IP who is more than 70 years of age cannot make an application for the grant of AFA. Therefore, he could not apply for obtaining grant of AFA and hence, could not hold AFA.
In re Midas Foods (P) Ltd (GST AAR Uttarakhand) (a) Whether Overseas Commission Agent is covered within the definition of the term ‘intermediary’ as provided under section 2(13) of the IGST Act, 2017; Overseas Commission Agent is covered within the definition of the term intermediary’ as provided under section 2(13) of the IGST Act, 2017; […]
Department for Promotion of Industry and Internal Trade Ministry of Commerce and Industry Government of India Consolidated FDI Policy (Effective from October 15, 2020) Government of India Ministry of Commerce Sr Industry Department for Promotion of Industry and Internal Trade (FDI Division) Consolidated FDI Policy Circular of 2020 Subject: Consolidated FDI Policy The “Consolidated FDI […]
