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Contract of Erection and Commissioning of the Boiler are Not Excisable: CESTAT [Read Order]

The Mumbai Bench of Customs, Excise and Service Tax Appellate Tribunal ( CESTAT ) in the appeal S.S. Engineer v. Commissioner of Central Excise held...

Govt to reduce GST Rates, says MoS Shiv Pratap Shukla

Re-Opening of Assessment without Application of Mind is Invalid: ITAT [Read Order]

CBDT dedicates Fortnight for Disposal of Pending Appeals

Priority Sector Lending Certificates, Renewable Energy Certificates etc attract Nil GST: CBIC [Read...

Addition based on mere Statements during Survey is Invalid without Tangible Materials: ITAT [Read Order]

The ITAT Ahmedabad bench, in ‘DCIT v. M/s Real Strips Ltd, held that any additions based on mere statements during the survey are invalid without tangible materials. A survey was conducted at the...

Sale Consideration once Taxed u/s 45 can’t again assessable as Unexplained: ITAT [Read Order]

The Delhi bench of the Income Tax Appellate Tribunal (ITAT) recently held that once the sale consideration of shares made subject to income tax under section 45 of the Income Tax Act, addition under...

GST: Govt to bring Centralized Authority for Advance Rulings

Considering the frequency of orders passed by the Advance Ruling Authorities ( AAR ) of different States and the confusions made by them over the applicability of tax under the GST regime, the Central...

ICAI Signs MRA with South African Institute of Chartered Accountants

The Institute of Chartered Accountants of India (ICAI) has signed the Mutual Recognition Agreement (MRA) with the South African Institute of Chartered Accountants (SAICA) on June 4, 2018, at SAICA HO,...

ICSI to conduct Mega Placement Drive for Company Secretaries

The Institute of Company Secretaries of India (ICSI) is organizing a Mega Placement Drive in every region of ICSI in June 2018 in a planned and coordinated manner for recruitment of company secretary...

Provisions of S. 115JB Income Tax Act not applicable to a Sick Company: ITAT [Read Order]

The Hyderabad bench of ITAT last week held that the provisions of Section 115JB of the Income Tax Act, 1961 is not applicable to a sick company. In the instant case, the assessee filed returns...

Centre to give Financial Aid to Offset GST burden on Langar Items

With a view to offset additional burden under the Goods and Services Tax ( GST ) regime, the central Government announced financial assistance on purchases meant for the community kitchens that serve...

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