SEBI issues a Master Circular for the Commodity Derivatives Market to make all the information available in one place

SEBI with an objective to ensure availability of comprehensive information mentioned in various circulars w.r.t commodity derivatives market at one place has issued a Master Circular comprising of information mentioned…

Continue ReadingSEBI issues a Master Circular for the Commodity Derivatives Market to make all the information available in one place

CBDT Instruction on Old 148 Notices: A Second Bonafide Mistake or a Deliberate Take?

In response to the ‘Income Tax Gazetted Officers’ Association’s Query Letter, seeking clarification on the implementation aspects of the Hon’ble Supreme Court Judgement on validity of old reassessment notices u/s…

Continue ReadingCBDT Instruction on Old 148 Notices: A Second Bonafide Mistake or a Deliberate Take?

ITAT remanded matter back to adjudicate approval u/s 10(23C) as supporting evidence wasn’t provided by society

INCOME TAX : Where assessee society filed an application requesting for grant of approval under section 10(23C)(vi), however, all required documents with supporting evidence to prove genuineness that society existed…

Continue ReadingITAT remanded matter back to adjudicate approval u/s 10(23C) as supporting evidence wasn’t provided by society

Export of wheat consignments handed over to Customs for examination on or before May 13th, 2022 allo

The government has announced some relaxation to its order dated 13th May issued by Directorate General of Foreign Trade (DGFT), Department of Commerce on restricting wheat exports. It has been…

Continue ReadingExport of wheat consignments handed over to Customs for examination on or before May 13th, 2022 allo

No ST on membership donations collected towards activity of advancement of yoga: CESTAT

EXCISE/ST/VAT : Appellant registered under section 12AA of Income-tax Act, 1961 and education and training in yoga provided by appellant towards activity of advancement of yoga - membership donations collected…

Continue ReadingNo ST on membership donations collected towards activity of advancement of yoga: CESTAT

Rejecting refund claim on ground of being time barred is against mandate of Article 265 of Constitution: CESTAT

EXCISE/ST/VAT : Where Show Cause Notice was issued to appellant proposing to reject refund claim on ground that it was time barred, refusing to return amount is against mandate of…

Continue ReadingRejecting refund claim on ground of being time barred is against mandate of Article 265 of Constitution: CESTAT

SC issued notice against ruling that Co. providing cargo handling service at airport is entitled to sec. 80-IA relief

INCOME TAX : Notice issued in SLP filed against order of High Court holding that Bengaluru International Airport Ltd. (BIAL) is a statutory body and activity of assessee-company providing cargo…

Continue ReadingSC issued notice against ruling that Co. providing cargo handling service at airport is entitled to sec. 80-IA relief