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CBI arrests its four Sub-Inspectors posted at Delhi

May 13, 2022 849 Views 0 comment Print

Central Bureau of Investigation has arrested its four Sub-Inspectors posted at Delhi on certain allegations and conducted searches at their premises. Incriminating documents recovered during searches are being scrutinized.

IBBI directs IRP to maintain independence in decision making

May 12, 2022 1161 Views 0 comment Print

Though the deficiencies as noticed and conceded by Ms Kalpana G appear to be minor in nature, however, in the context of messaging with regard to the independent role of Insolvency Professional as envisaged under the Code and Regulations framed thereunder, such acts of omission have larger ramifications.

Burning Cost for Fire perils published by IIB is not a ‘mandated minimum rate’: IRDAI

May 12, 2022 4659 Views 0 comment Print

IRDAI has been receiving several complaints from policyholders, both directly and through various platforms such as industry associations, that insurers are referring to the Burning Cost as a ‘mandated minimum rate’.

Section 148 Notices: Steps to follow in cases impacted by SC decisions

May 12, 2022 7470 Views 0 comment Print

ITBA Step–by–Step Document No. 1 w.r.t. CBDT Instruction No. 1 of 2022Dated 12.05.2022 Steps to be followed in ITBA for the cases impacted by Hon’ble Supreme Court decision dated 04.05.2022 in the case of Union of India vs. Ashish Agarwal Dated 12.05.2022 NOTE: The AOs/ITBA users should refer to Instruction No. 1 of 2022 dated […]

Request to clarify on SC judgement on Section 148 notices

May 12, 2022 7494 Views 0 comment Print

Income Tax Gazetted Officers’ Association requested CBDT to issue Clarification in respect of the judgement of Hon’ble Supreme Court in the case of  Union of India Vs Ashish Agarwal ,Civil Appeal No. 3005/2022, Dated: 04/05/2022  in the matter of notices u/s 148 issued between 01-04-2021 to 30-06-2021 under the pre amended provisions Income Tax Gazetted Officers’ […]

ED denies allegations made by Xiaomi India

May 11, 2022 873 Views 0 comment Print

The allegations that the statement of the officials of Xiaomi India was taken under coercion by ED is untrue and baseless. The officials of the Xiaomi India deposed their statements before ED under FEMA voluntarily in the most conducive environment on various occasions.

Govt removes anti-dumping duty imposed on Amoxycillin Trihydrate

May 11, 2022 585 Views 0 comment Print

Seeks to rescind Notification No. 21/2017- Customs (ADD) dated 16th May, 2017 to remove levy of ADD on Amoxycillin also known as Amoxycillin Trihydrate. Notification No. 13/2022-Customs (ADD) [G.S.R. 350(E).], Dated: 11.05.2022 MINISTRY OF FINANCE (Department of Revenue) New Delhi Notification No. 13/2022-Customs (ADD) | Dated: 11th May, 2022 G.S.R. 350(E).—In exercise of the powers […]

Section 271E penalty cannot be Levied in absence of Regular Assessment

May 11, 2022 2346 Views 0 comment Print

Penalty under Section 271E is not permissible in the absence of regular assessment framed against the assessee by the Revenue.

DRI foils attempts of gold smuggling, seizes 11 kg gold

May 10, 2022 915 Views 0 comment Print

DRI foils attempts of gold smuggling, seizes 11 kg gold worth more than Rs 5.88 crore in Lucknow & Mumbai The Directorate of Revenue Intelligence (DRI) has successfully foiled attempts of organised gold smuggling though air route by effecting two successive seizures in Lucknow and Mumbai last week, which had a common method of concealment […]

SEBI (Collective Investment Schemes) (Amendment) Regulations, 2022

May 10, 2022 1626 Views 0 comment Print

1. These regulations may be called the Securities and Exchange Board of India (Collective Investment Schemes) (Amendment) Regulations, 2022. 2. They shall come into force on the date of their publication in the Official Gazette:

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