Clipped from: https://www.taxscan.in/income-offered-towards-excess-stock-not-unexplained-investment-u-s-69b-no-income-tax-levy-u-s-115bbe-itat/273896/ By Aparna. M – On May 2, 2023 7:30 am – 3 mins read The Chennai bench of Income Tax Appellate Tribunal (ITAT) has recently held that income offered towards excess
Category: News of interest
वाचकांना माझ्या दृष्टीने महत्वाच्या वाटणाऱ्या बातम्या देण्याचा प्रयत्न केला आहे –ज्या source मधून ह्या बातम्याचे विवरण केले आहे त्या त्या source चे नाव व लिंक दिली आहे. ही लिंक क्लिक केल्यानंतर वाचकांना मूळ source मधील बातमी सविस्तर पणे वाचता येईल. तसेच नंतरही कधीही या बातम्या वाचता येतील त्यासाठी search option किंवा calender चा पर्याय निवडून बातमी वाचता येईल –उद्देश सर्वच बातम्या –रोजच –सविस्तर वाचणे कधी कधी शक्य नसते अशा वेळेस नंतर देखील अशा महत्वाच्या बातम्या वाचता याव्यात–असा उद्देश आहे. — डिसेंबर २०१६ च्या आधीच्या अशा तऱ्हेच्या Latest Post या category खाली दिल्या आहेत. —ही website कोणत्याही आर्थिक मोबदला मिळावा म्हणून सुरु केलेली नाही. तसेच सर्व प्रयत्न परिपूर्ण आहेत असाही दावा नाही. पण काही तरी उपयोगी करून दाखवण्याचा मात्र उद्देश जरूर आहे. सुधारणा सुचवून वाचकांनी माझ्या प्रयत्नात सामील व्हावे अशी विनंती आहे–
Service Tax Liability of Sub-Contractor not cease on tax payment by main contractor
Clipped from: https://taxguru.in/service-tax/service-tax-liability-sub-contractor-not-cease-tax-payment-main-contractor.html Molax Powder Coating Vs Commissioner of Central Excise and Service Tax (CESTAT Chennai) Service Tax liability of sub-contractor not cease, even when main
Ignoring debit side entries, entire amount of credit entries cannot be added to taxable income
Clipped from: https://taxguru.in/income-tax/ignoring-debit-side-entries-entire-amount-credit-entries-added-taxable-income.html Ajay Kumar Aggarwal Vs ACIT (ITAT Delhi) On careful consideration of rival submission first of all we note that the Assessing Officer is
👍Purchase of Furniture, AC to Make New House Habitable Eligible for Capital Gain Deduction: ITAT
Clipped from: https://www.taxscan.in/purchase-of-furniture-ac-to-make-new-house-habitable-eligible-for-capital-gain-deduction-itat/274719/?utm_source=izooto&utm_medium=push_notifications&utm_campaign=Purchase%20of%20Furniture,%20AC%20to%20Make%20New%20House%20Habitable%20Eligible%20for%20Capital%20Gain%20Deduction:%20ITAT The Chennai Bench of the Income Tax Appellate Tribunal (ITAT), recently observed that the purchase of Furniture, Air Conditioner to make new house habitable is eligible for
👍Go First Insolvency Resolution: Go First files for voluntary insolvency resolution proceedings before NCLT – The Economic Times
Clipped from: https://economictimes.indiatimes.com/industry/transportation/airlines-/-aviation/go-first-files-for-voluntary-insolvency-resolution-proceedings/articleshow/99934815.cms Synopsis “Go First deeply regrets the current situation, which has forced it to apply to the NCLT. With Pratt & Whitney failing to
Attachment of Bank Account before Expiry of Appeal Period: Calcutta HC Stays GST Recovery Proceedings
Clipped from: https://www.taxscan.in/attachment-of-bank-account-before-expiry-of-appeal-period-calcutta-hc-stays-gst-recovery-proceedings/274117/ In a recent ruling, a Single Bench of the Calcutta High Court stayed the impugned order attaching the bank account of the petitioner for the
How co-lending is just old wine in new bottle – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/blexplainer/bl-explainer-how-co-lending-is-just-old-wine-in-new-bottle/article66780361.ece The NBFC funding crunch post the IL&FS saga led to the rise of the co-lending model What is co-lending? Which are the entities
Editorial. IRDAI should tighten investment process for insurers – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/opinion/editorial/irdai-should-tighten-investment-process-for-insurers/article66800406.ece The country’s largest life insurer, LIC, should put in place early warning systems to prevent front-running trades SEBI’s interim order relating to an employee
India’s intriguing trade ties with China – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/opinion/indias-intriguing-trade-ties-with-china/article66800675.ece India’s import substitution efforts and FTAs with Asian countries have not reduced dependence on China Over the years, China has emerged as the
IGCRS Rules: No approval needed to re-export goods imported
Clipped from: https://www.business-standard.com/india-news/chatroom-no-approval-needed-to-re-export-goods-imported-under-igcrs-rules-123050100547_1.html There is no requirement under FEMA that you must have an IEC before receiving advance payment for exports Representative Image Listen to This
Labour laws’ fairness challenge
lipped from: https://www.business-standard.com/opinion/columns/labour-laws-fairness-challenge-123050101057_1.html Just having a 12-hour workday does not necessarily constitute exploitation. If implemented properly and without causing harm to workers, it could create a
Unemployment rate rises in April
Clipped from: https://www.business-standard.com/opinion/columns/unemployment-rate-rises-in-april-123050100899_1.html The notable rise in LPR and employment rate in India in the month of April reflects an increase in willingness among people to
Oil imports from Russia make a new record: Tracking the economic indicators
lipped from: https://www.business-standard.com/economy/news/tracking-the-economic-indicators-oil-imports-from-russia-make-a-new-record-123050100930_1.html US supplies were one the biggest casualties of Russian inroads into India’s crude oil market Photo: Bloomberg Listen to This Article Indian imports
Will expand product offerings; add users, merchants in FY24: MobiKwik COO
lipped from: https://www.business-standard.com/companies/interviews/mobikwik-will-expand-product-offering-add-new-users-merchants-in-fy24-123050100757_1.html ‘FY24 will be a big year for us. We want to be profitable in all quarters – and for the full financial year’
🙏NCLT to deal with IBC cases: Center plans to draft guidelines
Clipped from: https://www.business-standard.com/economy/news/center-plans-to-draft-guidelines-for-nclt-to-deal-with-ibc-cases-123050100888_1.html MCA also planning artificial intelligence system for case management IBC lawyers often rue that the NCLT is a weak link in the IBC
MCA to implement new competition law provisions in a staggered manner – The Hindu BusinessLine
MCA to implement new competition law provisions in a staggered manner – The Hindu BusinessLine https://www.thehindubusinessline.com/economy/mca-to-implement-recent-competition-law-changes-in-a-staggered-fashion/article66800672.eceThe Corporate Affairs Ministry (MCA) is now gearing up to
US regulators racing to find a rescuer to buy First Republic Bank
Clipped from: https://www.business-standard.com/world-news/us-regulators-racing-to-find-a-rescuer-to-buy-first-republic-bank-123043000722_1.html US regulators are racing to find a rescuer to buy First Republic Bank in a deal that could be announced as soon as
👍The pressure bank chairmen faced from politicians – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/books/the-pressure-bank-chairmen-faced-from-politicians/article66796303.ece Among the foremost bankers of yesteryears, Narayanan Vaghul, in his memoirs writes how bureaucrats and politicians browbeat bankers Excerpted from the book Reflections by Narayanan
New GST rule from Monday: 7 days’ limit to report old invoices on the e-invoice IRP portals – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/economy/new-gst-rule-from-monday-7-days-limit-to-report-old-invoices-on-the-e-invoice-irp-portals/article66795947.ece?cx_testId=22&cx_testVariant=cx_1&cx_artPos=0&cx_experienceId=EX8OXMB4HBZD#cxrecs_s Experts say the new GST rule will help in moving almost real-time tracking of economic activities From Monday, come May 01, big GST
Federal Reserve seen boosting rates even as economic risks build in US
Clipped from: https://www.business-standard.com/world-news/federal-reserve-seen-boosting-rates-even-as-economic-risks-build-in-us-123043000182_1.html The Federal Open Market Committee is expected to boost the benchmark lending rate target by another quarter percentage point on Wednesday Photo: Bloomberg
aniltikotekar4sme.com 