Claim for Refund of Special Additional Duty should be filed within one year from Payment of Duty: CESTAT [Read Order]
The Chennai Bench of Customs, Excise Service Tax Appellate & Tribunal(CESTAT) held that the claim of refund of special additional duty(SAD) should be filed within one year from the payment of duty. M/s. Ingram Micro
Revisional Order without hearing Assessees’ Submission is Invalid: Delhi HC [Read Order]
The Delhi High Court division bench comprising of Justice S. Ravindra Bhat and Justice Sanjeev Sachdeva recently ruled that revisional order under Section 263 of the Income Tax Act, 1961 cannot be passed without hearing
CA Final Exam Syllabus for November may undergo Modifications
The Institute of Chartered Accountants of India (ICAI) is likely to bring modifications in the scope of syllabus of select subjects for the CA Final Exam scheduled in November 2019. According to sources, In paper
Approval u/s 10(23C) cannot be revoked when objects of Society have remained same: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), New Delhi Bench ruled that approval under Section 10(23C) of the Income Tax Act, 1961 cannot be revoked when objects of Society have remained same. The assessee, M/s. Population
ITAT Weekly Round-Up
This weekly round-up analytically summarizes the key stories related to the Authority of Income Tax Appellate Tribunal (ITAT) reported at Taxscan.in during the previous week from December 6 to December 11, 2021. Vijayshree Food Products
One year period of Limitation prescribed under Customs Act applicable for SAD Refund: CESTAT [Read Order]
The Customs, Excises, Service Taxes Appellate Tribunal (CESTAT) held that one year period of limitation prescribed under Customs Act applicable for Special Additional Duty (SAD) refund. The respondent, S.R. Traders imported and cleared the goods
CBDT notifies Income Tax Exemption to Punjab Nurses Registration Council u/s 10(46) [Read Notification]
The Central Board of Direct Taxes (CBDT) vide notification no. S.O. 4265(E) issued on 29th September 2023 has notified the income tax exemption to Punjab Nurses Registration Council under Section 10(46) of Income Tax Act,
B. Com, CA vacancy in Citigroup
The Citigroup has invited applications for the post of Officer - Tax Analyst 2. Qualifications: BCOM/CA/MBA/ Other Finance Masters and 3 to 5 years’ relevant work experience in Tax operations or related discipline.Bank/Financial Institutions knowledge:products,
Foreign Currency is not a ‘Commodity’, Income Tax Addition based on Speculative Transactions not permissible: ITAT [Read Order]
The Bangalore bench of the Income Tax Appellate Tribunal ( ITAT ) has held that foreign currency is not a “commodity” and that addition based on the speculative transaction is not permissible. Lifestyle International Pvt.
Professional Opportunities of Chartered Accountants increased Last Year: ICAI Chief
The President of the Institute of Chartered Accountants of India ( ICAI ), CA Naveen ND Gupta said that the professional opportunities of the Chartered Accountants had increased last year due to the unfolding of
CBDT notifies Income Tax Exemption to ‘National Farmers Welfare Program Implementation Society’ u/s 10(46) [Read Notification]
The Central Board of Direct Taxes (CBDT), vide notification no. S.O. 4282(E) issued on 29th September 2023 has notified the income tax exemption to  ‘National Farmers Welfare Program Implementation Society’ under Section 10(46) of Income
Delhi GST Systems to go Faceless: FM Atishi
Finance Minister Atishi outlined the State Government's initiative to enhance the administration of Goods and Services Tax ( GST ), aiming for a seamless and faceless system. "In the fiscal year 2023-24, the tax collection
16 Proposed amendments to CGST in Union Budget 2020
The Finance Minister Nirmala Sitharaman on Saturday through the union Budget has proposed the following 16 amendments to the Central Goods and Service taxes (CGST) aiming to improve the scope and productivity of the tax
SC stays Delhi HC verdict declaring Empowering Officers from CAG to conduct Audit of Service Tax Assessee is ulra vires to Finance Act [Read Order]
The Supreme Court of India recently stayed Delhi High Court verdict declaring Empowering Officers from CAG to conduct Audit of Service Tax Assessee is ulra vires to Finance Act. On 3rd June 2016, the division
RBI clamps down on JM Financial Products Limited’s financing against Shares and Debentures
The Reserve Bank of India ( RBI ) has taken regulatory action against JM Financial Products Limited ( JMFPL ) by directing the company to immediately halt all forms of financing against shares and debentures.