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Omission to claim statutory deduction u/s 57(iv) is a mistake apparent from record, rectifiable under Section 154 In the instant case, the assessee had challenged the order passed by the CIT(A) in confirming the order passed by the Assessing Officer (AO) u/s 154 of the Income Tax Act, …
RBI gives general permission for infusion of capital in overseas branches and subsidiaries and retention/ repatriation/ transfer of profits in these centres by banks incorporated in India As per existing practice, banks incorporated in India were required to seek prior RBI approval for infusion of capital in their …
MCA extends time for passing ordinary / special resolutions by companies by holding EGMs through video conferencing (VC) or other audio visual means (OAVM) till 30.06.2022 The MCA has issued several circulars for providing clarifications on the issue of passing of ordinary and special resolutions by companies by …
Reassessment notice issued under old section 148 after 31.03.2021 invalid as reassessment provisions are substituted by Finance Act, 1921 with effect from 01.04.2021. ABCAUS Case Law CitationABCAUS 3565 (2021) (12) HC Important case law relied referred:Union of India & Ors. Vs. S. Srinivasan, (2012) 7 SCC 683Palak Khatuja …
 CGST (9th Amendment) Rules 2021. Amendment to FORM GST DRC-03  Government of IndiaMinistry of Finance(Department of Revenue)Central Board of Indirect Taxes and Customs  Notification No.37/2021 –Central Tax  New Delhi, 01st December, 2021  G.S.R…(E).-In exercise of the powers conferred by section 164 of the …
Prosecution for late deposit of TDS after 11 months. Once  there  was a non-deposit, necessary consequences shall follow including prosecution- Supreme Court ABCAUS Case Law CitationABCAUS 3564 (2021) (12) SC In the instant case, the assessee had wiled a Writ Petition to challenge the sanction letter for prosecution …
CBDT Guidelines under sub-section (4) of section 194-O, sub-section (3) of section 194Q and sub-section (1H) of section 206C of Income-tax Act, 1961 Finance Act, 2020 inserted a new section 194-O in the Income-tax Act 1961 (hereinafter referred to as ” the Act”) which mandates that with effect …
Faceless Assessment order quashed as no password was sent in the link to join video conferencing for the hearing ABCAUS Case Law CitationABCAUS 3563 (2021) (11) HC In the instant case, the assessee had wiled a Writ Petition to challenge the faceless assessment order passed under Section 143(3) …
 GSTN launched new & improved version of GSTR-1 which allows saving GSTR-1 details GSTN has launched a new and improved new version of GSTR-1 A revamped & enhanced version of GSTR-1/IFF is being made available on the GST Portal to improve the taxpayer experience. These enhancements, would …
Import and export in rough diamonds Amendment in policy conditions. Registration with Gems & Jewellery EPC compulsory MINISTRY OF COMMERCE AND INDUSTRY(Department of Commerce)(DIRECTORATE GENERAL OF FOREIGN TRADE) Notification No. 43/2015-2020 New Delhi, the 22nd November, 2021 Subject: Amendment in policy conditions governing import and export in rough …
