The Income Tax Appellate Tribunal (ITAT), Delhi bench quashed the reassessment proceedings against Bharti Airtel as all the material facts were fully and truly disclosed. The assessee, Bharti Airtel filed the return of income for the Assessment Year was filed declaring income at Rs. Nil and the same was assessed at Nil income vide order […]
The Indian Government is open to engaging in discussions around the minimum global corporate tax being initiated by the United States (US) and said that the issue of equalisation levy or digital taxes should also be addressed positively. The Biden administration in the US is calling for the world’s biggest multinational companies to pay levies […]
The Customs, Excise, and Service Tax Appellate Tribunal (CESTAT), Delhi Bench held that the burden of proof for alleged clandestine removal of goods is upon the department. The present order disposes of four appeals arising out of the order of Commissioner, GST has been assailed before this Tribunal. The said order has been passed in […]
The Bombay High Court directed the Custom Authority to allow clearance of Pigeon Peas as there was valid registration of Advance Payment Certificate. The petitioner, Rika Global Impex Limited is a company incorporated under the Companies Act, 2013 and engaged in the business of import and export of agricultural commodities. Petitioner is a regular importer […]
The Customs, Excise, and Service Taxes Appellate Tribunal (CESTAT), directed the Adjudicating Authority to examine in respect of the credit of refund amount to Consumer Welfare Fund. The appellant, M/s Rakesh Canteen Contractor has been awarded the canteen services contract from M/s Caparo Engineering India Limited, by way of running and managing their canteen located […]
The Director-General of Foreign Trade (DGFT) notified the late cut for Merchandise Exports from India Scheme (MEIS) applications for exports made in the Financial Year 2019-20. MEIS applications for Shipping bills with a Let Export date from March 1, 2019, to March 31, 2020, can be submitted without any late cut up to September 30, […]
A two-judge bench of the Madras High Court has denied the benefit of exemption of urban land tax to Chennai Port Trust under the provisions of the Tamil Nadu Urban Land Tax Act of 1996. While considering an appeal filed by the State, Chief Justice Amreshwar Pratap Sahi and Justice Senthilkumar Ramamoorthy ruled that the […]
The Lieutenant Governor (LG) of Jammu and Kashmir, Manoj Sinha while Putting speculations to rest said that the Union Territory administration would not levy any property tax on the people in Jammu and Kashmir. Earlier this month, the Union home ministry had empowered the union territory’s administration to impose the property tax following an amendment […]
The Delhi High Court ruled that the second FIR in respect of an offence or different offences committed in the course of the same transaction is not only impermissible but it violates Article 21 of the Constitution. The application, that has been filed by the applicant, Anoop Joshi sought who made the prayer seeking an […]
The Corporate Laws Committee of the Institute of Costs Accountants of India (ICMAI) is conducting a Quiz on Corporate Law on the account of celebrating February 2021 as Corporate Law Month on all India basis. The link of the quiz will be made available to the members or students who have registered in the above […]
Taxscan in association with NITYA Tax Associates is pleased to announce our next program under Simplified series, a webinar on ‘Input Tax Credit – Concept and Practical Issues’. Input Tax Credit (ITC) is one of key elements of Goods and Services Tax (GST) regime and seamless flow of ITC has always been the objective of […]
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