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CIT(A) must provide opportunity of hearing to AO – Section 250(1)

July 2, 2022 6687 Views 0 comment Print

ACIT Vs Kalinga Mining Corporation (ITAT Cuttack) We are not going into merits of the appeals. Only because an opportunity of hearing as prescribed u/s.250(1) of the Act has not been provided by the ld. CIT(A) to the AO and there is a clear violation of principle of natural justice in respect of opportunity to […]

Exemption of IGST and Compensation Cess under Advance Authorisation, EPCG & EOU scheme

July 1, 2022 15987 Views 0 comment Print

Para 4.14, Para 5.01(a) and Para 6.01(d)(ii) of FTP 2015-20 are amended as above to provide exemption from Integrated Tax and Compensation Cess.

Audit Quality Review Report of Statutory Audit done by SRBC & Co LLP of IL&FS

July 1, 2022 1908 Views 0 comment Print

Discover the Audit Quality Review Report of Statutory Audit done by SRBC & Co LLP of IL&FS. Get insights into the financial year 2017-18.

Delhi Labour Welfare Board introduces online portal for compliances

July 1, 2022 2997 Views 0 comment Print

The Online portal of Delhi Labour Welfare Board offering following services is hosted on URL https://dlabourwelfareboard.delhi.gov.in/index.php for taking online contribution from Employer / Employee w.e.f. 01.07.2022.

ICSI Request for providing extension of timelines for filing of Form CSR-2

June 30, 2022 5643 Views 0 comment Print

It is requested to extend timelines to file Form CSR-2 by companies for preceding financial year 2020-2021 from 30th June, 2022 to 31.12.2022

Technical Know-How Fees Is allowable Revenue Expenditure

June 30, 2022 1434 Views 0 comment Print

Dive into the ITAT Delhi judgment on ACIT vs. Voith Paper Fabrics, addressing the treatment of technical know-how fees as revenue or capital expenditure.

e-rickshaw classifiable as electrically operated vehicle despite sale without battery

June 30, 2022 24645 Views 0 comment Print

A three-wheeled electrically operated vehicle, commonly known as e-rickshaw, when supplied without battery is also classifiable as an electrically operated motor vehicle under HSN 8703.

e-rickshaw sold without battery classifiable as electrically operated vehicle

June 30, 2022 1236 Views 0 comment Print

In re Rohit Singh Kharwar (GST AAR West Bengal) ♦ The applicant is engaged in the business as an importer of spare parts of electrically operated vehicles. He intends to enter into the business of manufacturing & reselling of electrically operated three wheeled vehicles in West Bengal. ♦ Following are the rulings in respect of […]

ITC on purchase of demo vehicle can be utilisied to discharge liability

June 30, 2022 9876 Views 0 comment Print

In re Toplink Motorcar Private Limited (GST AAR West Bengal) The applicant is an authorized dealer of Hyundai Motor India Limited for supply of different ranges of motor vehicles & also carries on business activities as an authorized service station. He purchases vehicles against tax invoices which are reflected in his books of accounts as […]

CBDT notifies Non fungible token as virtual digital asset

June 30, 2022 3054 Views 0 comment Print

Notification No. 75/2022- (Income-tax) | Dated: 30th June, 2022– CBDT specifies a token which qualifies to be a virtual digital asset as non-fungible token within the meaning of sub-clause (a) of clause (47A) of section 2 of the Act but shall not include a non-fungible token whose transfer results in transfer of ownership of underlying […]

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