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Cabinet approves continuation of scheme on Indian Institute of Corporate Affairs beyond 12th Plan Period Press Information Bureau Government of India Ministry of Corporate Affairs 22-November-2017 15:55 IST Cabinet approves continuation of the scheme on Indian Institute of Corporate Affairs beyond the 12th Plan Period The Union Cabinet …
Cabinet approves setting up of the 15th Finance Commission which under Article 280(1) of the Constitution,it is a Constitutional obligation. Press Information Bureau Government of India Ministry of Finance 22-November-2017 15:53 IST Cabinet approves setting up of the 15th Finance Commission The Union Cabinet chaired by the Prime …
Task Force constituted for drafting New Direct Tax Legislation as PM observed that the Income-tax Act 1961 was drafted 50 years ago and it needs re-drafting Press Information Bureau Government of India Ministry of Finance 22-November-2017 17:05 IST Constitution of Task Force for drafting a New Direct Tax …
Commissioner can not dismiss revision petition/s 264 on the ground that in assessee’s case similar issue was subject matter of appellate proceedings in other years – High Court ABCAUS Case Law Citation: ABCAUS 2125 (2017) (11) HC The Issue: The petitioner had invoked the writ jurisdiction of …
GST Portal calculation of late fee for GSTR-3B Return after due date Late Fee (CGST + SGST) payable by taxpayers will now be calculated on the GST Portal as below. GST Portal will now be calculating Late Fee (CGST + SGST) payable as below: Rs. 50 per day …
Destruction of Pan Masala stock on court’s order due to impermissible limits of magnesium carbonate disallowed u/s 37(1) being prohibited by law and not incurred for the purpose of business – ITAT ABCAUS Case Law Citation:ABCAUS 2124 (2017) (11) ITAT The Challenge/Grievance:The instant appeal was filed by …
Milling of paddy into rice not eligible for GST exemption under Notification 12/2017-Central Tax (Rate) Clarification Circular No. 19/19/2017-GST F. No. 354/263/2017-TRU Government of India Ministry of Finance Department of Revenue Tax research Unit **** North Block, New Delhi 20th November 2017 To, The Principal Chief Commissioners/Chief Commissioners/ …
Aadhaar Data is Never Breached or Leaked UIDAI denies media news report, that 210 Government sites made Aadhaar info public Press Information Bureau Government of India Ministry of Electronics & IT 20-November-2017 14:22 IST Aadhaar Data is Never Breached or Leaked: UIDAI The Unique Identification Authority of India …
No deemed dividend u/s 2(22)(e) where personal property pledged as collateral security for enabling the company to obtain loan/credit facilities from bank – ITAT ABCAUS Case Law Citation:ABCAUS 2123 (2017) (11) ITAT The respondent assessee was one of the directors of a Private Limited Company with substantial interest. …
Voluntary disclosure in all cases cannot absolve liability of concealment penalty. High Court confirmed penalty u/s 271(1)(c) for deferral/avoidance of tax. Willful concealment is not an essential ingredient for attracting civil liability as is the case in the matter of prosecution under section 276C – High Court ABCAUS Case …
