Clipped from: https://taxguru.in/service-tax/mere-non-payment-tax-non-discharge-liability-suffice-ingredients-invoking-extended-period.html Principal Commissioner, Service Tax Vs National Institute of Bank Management (CESTAT Mumbai) Mere non-payment of tax or non-discharge of liability does not suffice
Day: December 29, 2022
Capital Gains on Transfer of Residential House Property – Section 54 Exemption
Clipped from: https://taxguru.in/income-tax/capital-gains-transfer-residential-house-property-section-54-exemption.html Introduction A person who has sold his old house and from the sale proceeds he has purchased another house. In this case the
Addition of unexplained cash credit unsustainable in absence of rejection of books of accounts
lipped from: https://taxguru.in/income-tax/addition-unexplained-cash-credit-unsustainable-absence-rejection-books-accounts.html Rahul Cold Storage Vs ITO (ITAT Raipur) ITAT Raipur held that addition u/s 68 as unexplained cash credit unsustainable as AO has not
TDS deductible u/s 194C in case of Common Area Maintenance charges
Clipped from: https://taxguru.in/income-tax/tds-deductible-194c-case-common-area-maintenance-charges.html Johnson Watch Company Pvt. Ltd. Vs ACIT (ITAT Delhi) ITAT Delhi held that as common area maintenance (CAM) charges are for maintenance of
Analysis of input tax credit (ITC)
Clipped from: https://taxguru.in/goods-and-service-tax/analysis-input-tax-credit-itc.html INTRODUCTION These days we are hearing a lot in news that India’s position in world’s bank ranking on ease of doing business has
Loss by writing off inventory disallowed in absence of necessary evidence
Clipped from: https://taxguru.in/income-tax/loss-writing-inventory-disallowed-absence-evidence.html Gem Spinners India Limited Vs ACIT (ITAT Chennai) ITAT Chennai held that disallowed the claim of loss on account of written off inventory
Turning tide: On India’s goods exports – The Hindu
Clipped from: https://www.thehindu.com/opinion/editorial/turning-tide-the-hindu-editorial-on-indias-goods-export/article66314140.ece Sliding global demand is hurting manufacturing exports already and 2023 could be rougher India’s goods exports rebounded from a nearly 17% dip in
Recovery of GST during IBC Proceedings: CBIC Clarifies
Clipped from: https://www.taxscan.in/recovery-of-gst-during-ibc-proceedings-cbic-clarifies/239306/?utm_source=izooto&utm_medium=push_notifications&utm_campaign=Recovery%20of%20GST%20during%20IBC%20Proceedings:%20CBIC%20Clarifies By Rasheela Basheer – On December 27, 2022 9:31 pm The Central Board of Indirect Taxes and Customs ( CBIC ) has issued a clarification regarding the treatment
Retail loans can become a source of systemic risk, warns RBI – The Hindu BusinessLine***
Clipped from: https://www.thehindubusinessline.com/money-and-banking/retail-loans-can-become-a-source-of-systemic-risk-warns-rbi/article66312663.ece The central bank, however, was quick to add that it is well-equipped with its policy toolkit to handle any systemic risk that may
What is Zelensky’s 10-point peace plan? – The Hindu BusinessLine
lipped from: https://www.thehindubusinessline.com/news/world/what-is-zelenskys-10-point-peace-plan/article66312669.ece Here is an explainer on the plan and world reaction Ukraine’s President Volodymyr Zelensky has been vigorously promoting his 10-point peace plan, discussing
NPAs recovered by banks via various channels improved in FY22: RBI report – The Hindu BusinessLine***
Clipped from: https://www.thehindubusinessline.com/money-and-banking/npas-recovered-by-banks-via-various-channels-improved-in-fy22-rbi-report/article66312880.ece Sales of stressed assets to asset reconstruction companies have gradually decreased over the years PTI Photo Non-performing assets (NPAs) recovered by scheduled commercial
Now, claim refunds on cancelled flat booking, insurance policy – The Hindu BusinessLine*****
lipped from: https://www.thehindubusinessline.com/economy/now-claim-refunds-on-cancelled-flat-booking-insurance-policy/article66313313.ece The process requires the buyer to get temporary registration on the GST portal to claim the refund Experts say the government should consider
Circular economy – Is India ready to come full circle in sustainability? – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/opinion/circular-economy-is-india-ready-to-come-full-circle-in-sustainability/article66314636.ece For sustainable growth and achieving net-zero emissions, ‘recycle-and-reuse’ is the way ahead Working towards sustainable growth and development | Photo Credit: Tetiana Saranchuk
Make the most of India-Aus FTA – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/opinion/make-the-most-of-india-aus-fta/article66314665.ece Here is a seven-step guide for importers and exporters to tap the opportunities thrown up by the trade pact Apparel exports are set
Share buybacks: How Peter is paying taxes on behalf of Paul – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/data-stories/data-focus/share-buybacks-how-peter-is-paying-taxes-on-behalf-of-paul/article66313316.ece In the press conference after the recent SEBI Board Meeting, Chairperson, Madhabi Puri Buch remarked that Peter is paying taxes on behalf of
Slowdown year | Business Standard Editorials*****
Clipped from: https://www.business-standard.com/article/opinion/slowdown-year-122122801274_1.html Global and domestic factors will affect output The year 2022 marked the end of easy money, at least for now. The coming year,
Indian rupee goes digital | Business Standard Column
lipped from: https://www.business-standard.com/article/opinion/indian-rupee-goes-digital-122122801260_1.html Digital currency and fail-safe wireless connectivity should have preceded demonetisation On December 1, the Reserve Bank of India (RBI) introduced a digital rupee (DR), which
Speed and capacity | Business Standard Editorials*****
Clipped from: https://www.business-standard.com/article/opinion/speed-and-capacity-122122801277_1.html Restoring trust in IBC must be a priority The Insolvency and Bankruptcy Code (IBC) is one of the biggest achievements of this government in the
Data of 30 million railway users compromised, personal details on dark web | Business Standard News
lipped from: https://www.business-standard.com/article/current-affairs/data-of-30-million-railway-users-compromised-personal-details-on-dark-web-122122801012_1.html Breach not from IRCTC, says Railways; private partners on Centre’s radar In what could be the biggest data breach of a government entity’s digital assets
Experts see 2023 as a year of smooth sailing for real estate sector | Business Standard News
Clipped from: https://www.business-standard.com/article/companies/experts-see-2023-as-a-year-of-smooth-sailing-for-real-estate-sector-122122800778_1.html Demand likely to remain buoyant despite prospects of another rate hike; industry looking for tax breaks, lower transaction costs After a two year
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