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Fee for Legal Services paid to a Foreign Lawyer for Representation in Foreign Court not FTS: ITAT [Read Order]

The Delhi bench of the Income Tax Appellate Tribunal (ITAT) has held that the amount paid to a foreign lawyer as the fee for representing before a...

GST dept plans to Audit Accounts of Businesses based on their Tax Evasion History

Former Excise, Customs Officer convicted by CBI Court in a Disproportionate Assets Case

GST Fraud: Dept arrests Owners of 11 Shell Companies

Exemption can’t be denied to Education Trust because of providing Hostel, Transportation and Mess...

RBI releases Financial Benchmark Administrators (Reserve Bank) Directions, 2019 under section 45 W of the RBI Act, 1934

The Reserve Bank of India ( RBI ) today released the Financial Benchmark Administrators (Reserve Bank) Directions, 2019. These directions shall apply to Financial Benchmark Administrators...

Cenvat Credit can’t be denied due to mere Technical Irregularities: CESTAT [Read Order]

The Customs, Excise and Service Tax Appellate Tribunal (CESTAT), Mumbai bench has held that the cenvat credit cannot be denied to the assessee merely due to technical irregularities. The appellant...

Lok Sabha passes Bill to Amend SEZ Act, 2015 [Read Bill]

The Lower House of the Parliament, Lok Sabha has passed a bill to amend the Special Economic Zones Act ( SEZ ), 2005. The Special Economic Zones (Amendment) Bill, 2019, will replace an ordinance...

Auditor’s Certificate mandatory only in case of Return of Deposits [Read Circular]

The Ministry of Corporate Affairs (MCA) has clarified the issues relating to Auditor’s Certificate on Return of Deposits pursuant to Rule 16 of the Companies (Acceptance of Deposits) Rules, 2014. ...

Land cannot be treated as Stock in Trade if No Construction was carried on It: ITAT [Read Order]

The Delhi bench of the Income Tax Appellate Tribunal (ITAT) has held that if no business activity or construction is carried out on a piece of land, it can still be treated as stock in trade merely...

E-ACTIVE Form available in Website for filing with late Fee: MCA

The Ministry of Corporate Affairs ( MCA ) has informed that the facility to file E-ACTIVE form with late fee is available in the official website. Last week, the Ministry had temporarily suspended...

ITAT upholds Addition since Share Transactions are Sham Transaction to evade Tax [Read Order]

The Delhi bench of the Income Tax Appellate Tribunal (ITAT) has upheld an addition by finding that the share transaction leads to long term capital gain were actually sham transactions to evade income...

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