Day: October 24, 2018
IGST Export Refunds-extension in SB005 alternate mechanism and revised processing in certain cases including disbursal of compensation Cess Circular No. 40/2018-Customs F. No: 450/119/2017-Cus-IV Government of India Ministry of Finance Dept. of Revenue (Central Board of Indirect Taxes and Customs) **** Room No. 227B, North Block, New Delhi Dated, …
Under section 71 assessee have option to set off losses against capital gains and the set off is not mandatory as revealed by legislative history – ITAT ABCAUS Case Law Citation: ABCAUS 2592 (2018) (10) ITAT Important Case Laws Cited/relied upon: Coated Fabrics (P) Ltd. vs JCIT’ 285 …
Cabinet approves appointment of Adjudicating Authority and establishment of Appellate Tribunal under Prohibition of Benami Property Transactions Act, 1988 The Union Cabinet chaired by Prime Minister Shri Narendra Modi has approved the appointment of Adjudicating Authority and establishment of Appellate Tribunal under Prohibition of Benami Property Transactions Act(PBPT), …
Cabinet approves MoU between the Institute of Chartered Accountants of India and Certified Professional Accountants Afghanistan (CPA Afghanistan) The Union Cabinet chaired by the Prime Minister of India has approved the signing of a Memorandum of Understanding (MoU) between the Institute of Chartered Accountants of India (ICAI) and …
Assessee’s explanation may not be sufficient for deleting addition on merit, however, in penalty proceedings it deserves to be accepted – ITAT deletes concealment penalty imposed for addition made due to unserved summons on debtors ABCAUS Case Law Citation: ABCAUS 2591 (2018) (10) ITAT The instant appeal was …
Supreme Court bans Bharat Stage-IV compliant vehicle’s sale or registration in India from 01.04.2020. Only BS-VI compliant vehicles to be sold after cut of date ABCAUS Case Law Citation: ABCAUS 2590 (2018) (10) SC In 2003, the Government of India had announced the National Auto Policy based on the recommendations of the Mashelkar Committee constituted in 2001. BS-IV compliant vehicles were made compulsory for four …
CPC intimation treated as original notice of demand u/s 156 for filing appeal. CIT(A) rejected appeal as defective but ITAT remanded the matter ABCAUS Case Law Citation: ABCAUS 2589 (2018) (10) ITAT The instant appeal was filed by the assessee against the order of CIT(A) in rejecting the …
RFID seals to be procured from destination warehouse for deposit in and removal of goods from Customs bonded Warehouses Circular No. 39/2018-Customs F.No: 484/3/2015 – LC (Vol. II) Government of India Ministry of Finance Department of Revenue Central Board of Indirect Taxes & Customs Room No.49, North Block, New …