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Expenditure incurred by the assessee towards replacement of machinery with new machinery constitutes a capital expenditure. ABCAUS Case Law CitationABCAUS 3441 (2021) (01) ITAT Important case law relied referred:CIT vs. Sri Mangayarkarasi Mills P. Ltd, 315 ITR 114CIT vs. Sarvana Spinning Mills Ltd., 293 ITR 201.Elgi Equipments Ltd. …
Waiver of bank guarantee for Transhipment of Import & Export Cargo via Sri Lanka and Bangladesh Circular No.01/2021-Customs F.No.450/96/2020-Cus-IVGovernment of IndiaMinistry of FinanceDepartment of RevenueCentral Board of Indirect Taxes and Customs****** North Block, New DelhiDated the14thof January, 2021 To All Principal Chief Commissioners/Chief Commissioners of …
Deduction u/s 80P(2)(a)(i) allowable despite loans by co-operative societies to members not related to agriculture. ABCAUS Case Law CitationABCAUS 3440 (2021) (01) SC Important case law relied referred:Chirakkal Service Co-operative Bank Ltd. v. CIT (2016) 384 ITR 490 (Ker.)Perinthalmanna Service Co-operative Bank Ltd. v. ITO and Anr.(2014) 363 …
Report of the Company law committee on Decriminalization of the Limited Liability Partnership Act, 2008 The Company Law Committee was set in 2019 to make recommendations to the Government inter alia on further decriminalization of certain “compoundable offences”, consequential amendments and certain other changes in the LLP Act, …
Penalty u/s 271E deleted when loan was paid in cash to avoid default effecting CIBIL score as signed cheque books were not available with staff ABCAUS Case Law CitationABCAUS 3439 (2021) (01) ITAT Important case law relied referred:Hindustan Steel Ltd. vs State of Orissa reported in (1972) 083 …
Extension of the validity of FCRA registration certificates expiring during the period between 29th September, 2020 and 31st May, 2021 upto 31st May, 2021 F. No. II /21022/23(22)/2020-FCRA-IIGovernment of India Ministry of Home Affairs Foreigners Division (FCRA) First Floor, Major Dhyan Chand National StadiumIndia Gate Circle, New Delhi-110001 …
MCA gives further time for holding AGM through video conferencing/other audio visual means in Calendar Year 2021 subject to legal action under Companies Act General Circular No. 02/2021 F. No. 2/6/2020-CL-VGovernment of India Ministry of Corporate Affairs 5th Floor, ‘A’ Wing, Shastri Bhawan,Dr. R. P. Road, New Delhi …
Waiver of additional fees of overdue filings by struck off companies restored by NCLT order u/s 252 General Circular No. 03/2021 F. No. 02/01/2021-CL-VGovernment of India Ministry of Corporate Affairs 5th Floor, ‘A’ Wing, Shastri Bhawan, Dr. R. P. Road, New Delhi Dated: 15th January, 2021 ToThe DGCoA,All …
No requirement of filing Bill of Coastal Goods for vessels are carrying exclusively coastal goods Instruction No.01/2021-Customs F.No.450/96/2020-Cus-IVGovernment of IndiaMinistry of FinanceDepartment of RevenueCentral Board of Indirect Taxes and Customs****** North Block, New DelhiDated the 14th of January, 2021 To All Principal Chief Commissioners/Chief Commissioners of Customs/Customs (Preventive),All Principal …
CBDT launches e-portal for filing complaints/Petition of tax evasion/Benami Properties/Foreign Undisclosed Assets The Central Board of Direct Taxes has launched an automated dedicated e-portal on the e-filing website of the Department to receive and process complaints of tax evasion, foreign undisclosed assets as well as complaints regarding benami …
