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For imported goods, it is impossible to claim CENVAT credit and hence custom duty exemption can not be denied. Supreme Court dismissed SLP In a recent order, Hon’ble Supreme Court has dismissed Special Leave Petition (SLP) of the Custom/Excise Department against the order of the CESTAT holding that …
High Court grants bail to ITC scam accused as GST liability was yet to be not determined. In a recent judgment, Hon’ble High Court of Punjab & Haryana granted bail to ITC scam accused as GST liability was yet to be determined and the assessee was not habitual …
Banking Laws (Amendment) Bill 2024 – Amendments related to auditor’s remuneration to be decided by bank The Banking Laws (Amendment) Bill 2024 has bene presented in Lok Sabha. It proposes certain amendments to provisions related to auditor’s remuneration. As per Statement of Objects and Reasons of the Banking …
List of 402 transfers/postings made in the grade of PCIT / CIT by CBDT CBDT has issued officer order making eight transfer / Postings in the grade of Principal Commissioner of Income Tax / Principal Director of Income Tax. Further, three transfer/postings has also been made in the …
Sea Cargo Manifest and Transshipment (Third Amendment) Regulations, 2024 CBIC has notified phase-wise implementation of the Sea Cargo Manifest and Transshipment Regulations (SCMTR) vide Notification No. 57/2024-Customs (N.T.) dated 31st August, 2024. The SCMTR seeks to bring about transparency, predictability of movement, advance collection of information for expeditious …
CBDT rolls out Dispute Resolution Scheme (e-DRS), 2022, to minimise litigation CBDT has rolled out Dispute Resolution Scheme (e-DRS), 2022, to minimise litigation. Dispute Resolution Committees (DRCs) constituted in all 18 jurisdictional Pr. CCIT regions across the country. As per e-DRS, a taxpayer can opt for e-Dispute Resolution …
FAQ e-Dispute Resolution Committee and Form 34BC FAQ e-Dispute Resolution Committee and Form 34BC. In pursuance of section 245MA of the Income-tax Act, 1961 the CBDT) has notified the e-Dispute Resolution Scheme, 2022 (e-DRS). DRCs have been constituted in all 18 jurisdictional Pr. CCIT regions across the country …
Demanding bribe from directors of Corporate Debtor – IBBI absolves Insolvency Professional In a recent order, Disciplinary Committee of Insolvency and Bankruptcy Board of India (IBBI) on benefit of doubt, absolved an Insolvency Professional (IP) of the charges of demanding bribe from directors of the suspended board of …
ICAI debars five Chartered Accountants found guilty of Professional Misconduct. In terms of the provisions of Section 21B(3) of the Chartered Accountants Act, 1949 read with Rules 18(17) of the Chartered Accountants (Procedure of Investigations of Professional and Other Misconduct and Conduct of Cases) Rules, 2007, the Disciplinary …
Order u/s 263 was bad as CIT did not specify how he arrived at figure of excess depreciation allegedly claimed by the assessee In a recent order, Hon’ble Supreme Court has dismissed SLP against the order of the Hon’ble Bombay High Court upholding the ITAT that CIT did …
