Mere Statements of Director which is Inculpatory in Nature can’t be Ground for Upholding Activities of Clandestine Removal: CESTAT [Read Order]
While hearing the case of M/s S.R. Ingots Pvt. Ltd, the Customs, Excise and Service Tax Appellate Tribunal ( CESTAT ) held that mere statements of the director which is inculpatory in nature cannot be
ICAI Finds CA not Guilty of Professional Misconduct on alleged Certification of Form INC-22A to Non-Existent Company
The Institute of Chartered Accountants (ICAI) has determined that the Chartered Accountant (CA) accused of providing Form INC-22A to a non-existent company is not guilty of professional misconduct. The Complainant Department, Registrar of Companies, MCA,
New Feature to Select Core Business Activity enabled on GST Portal: GSTN
The Goods and Service Tax Network (GSTN) has enabled the new feature to select Core Business Activity enabled on GST Portal. Today, if you open GST Portal you will see a new pop-up wherein you
Frequency, Magnitude of Transaction in Systematic Manner not a Criteria to treat Share Transaction a Business Activity: ITAT [Read Order]
The Income Tax Appellate Tribunal ( ITAT ), Ahmedabad bench has held that the frequency, magnitude of the transaction in a systematic manner cannot be the criteria to hold that the assessee is engaged in
ERNET India eligible to Income Tax Benefits for Charitable Activities, says ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Delhi bench has recently granted relief to ERNET India by holding that the organization is eligible for tax benefits under section 11 of the Income Tax Act, 1961. The
ITAT grants Income Tax Exemption to MHADA as its Activity of providing Affordable Housing is Charitable in Nature [Read Order]
The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) granted the Income Tax Exemption to Maharashtra Housing and Area Development Authority (MHADA) as its activity of providing Affordable Housing is charitable in nature. The assessee
Preventive Detention can’t be sustained on Stale or Illusory grounds which has No Real Nexus with Past Smuggling: Delhi High Court [Read Order]
The Delhi High Court held that the preventive detention cannot be sustained on stale or illusory grounds which has no real nexus with the past Smuggling. The petitioner, Naveen Kasera Alias Naveen Agarwal raised the
Mushroom is an ‘Agricultural Product’, No Tax on its Production: ITAT [Read Order]
The Hyderabad bench of the Income Tax Appellate Tribunal (ITAT) in Dy IT v. M/s. Inventaa Industries Private Limited held that the income from production and sale of Mushroom can be termed as ‘agricultural income’
GST Impact: Number of Companies Registrations, Industrial Activity Increased, says Union Minister
Union Minister of State for Law & Justice and Corporate Affairs Shri P.P. Chaudhary in Lok Sabha to the Lok Sabha that after the introduction of GST, increasing trend in the number of companies’ registrations,
ICAI publishes Handbook on Audit of CSR Activities
The Institute of Chartered Accountants of India (ICAI) published the Handbook on the Audit Corporate Social Responsibility (CSR) Activities. The CSR Committee of ICAI has brought out this Handbook on Audit of CSR Activities to
COVID-19: MCA issues Office Memorandum to clarify contribution to PM-CARES Funds as eligible CSR activity
In the wake of Coronavirus (COVID-19), the Ministry of Corporate Affairs (MCA) issued an Office Memorandum to clarify contribution to Prime Minister’s Citizen Assistance and Relief in Emergency Situation PM-CARES Funds as eligible Corporate Social
UAE Corporate Tax: Federal Tax Authority issues Guidelines for Determination of applicability of Corporate Tax for Individuals
Non-resident individuals may be liable for corporate tax if they establish a permanent presence in the UAE, surpassing a total turnover of Dh 1 million within a calendar year starting in 2024, as outlined in
GST: E-Will Bill and E-Invoice System downtime is scheduled: Check Details
The E-Will Bill and e-invoice system downtime are scheduled for February 12, 2022, due to maintenance activity. The government has informed the E Way Bill users that downtime of all the E Way Bill and
Trust Not Entitled to Tax Exemption in the year in which its Receipts from the Commercial Activities exceed the Threshold Limit: ITAT [Read Order]
The Hyderabad bench of Tribunal said that a charitable trust would not get the benefit of tax exemption in the particular year in which its receipts from the commerce activities exceeds the threshold limit whether
Scope of CENVAT credit for “Manpower services” not restricted solely to manufacturing activities: CESTAT [Read Order]
Customs, Excise and Service Tax Appellate Tribunal ( CESTAT ) has held that the definition of  manpower service shouldn’t be limited only to the ‘manufacturing activity’ and not to any other activities outside the factory