The Income Tax Appellate Tribunal (ITAT), Bangalore bench has held that the expenses towards reclamation and rehabilitation of mine area shall be allowable as a deduction under 37 of the Income Tax Act, 1961. Facts of the case:- The assessee is a partnership firm and is …
1. As a major push in technology and digitalization, Delhi Customs Zone took three important initiatives today. An online facility for scheduling examination of Import cargo with the aim of minimizing the physical interface of trade with Customs and other stakeholders was launched. It is a …
In a major relief to Honda Motorcycle and Scooter India Pvt. Ltd, the Delhi Bench of Income Tax Appellate Tribunal (ITAT) directed the AO to delete Addition on account of capitalization of royalty expenses by holding it to be revenue in nature. Facts of the case:- …
1. The GST revenues for October have been the second-highest ever since the introduction of GST, second only to that in April this year. 2. The gross GST revenue collected in the month of October is one lakh 30 thousand 127 crore rupees. Out of this …
1. The Institute of Chartered Accountants of India (ICAI) has notified that Advanced Integrated Course on Information Technology and Soft Skills (Advanced ICITSS) will be conducted on 25th November 2021 through Computer Based Mode (CBT). It is noteworthy, eligibility Criteria i.e., Advanced ICITSS – Advanced IT …
1. The Institute of Chartered Accountants of India (ICAI) has issued the clarification regarding Difficulties faced by Members in exercising the option to get polling booths re-allotted. 2. The entire online process of submission of options for re-allotment of polling booths as well its architecture was …
In a major relief to M/s Hamdard (Wakf) Laboratories, the Allahabad Bench of Customs, Excise and Service Tax Appellate Tribunal (CESTAT) ruled that exemption of Excise Duty can’t be denied for mere taking credit of duty paid on inputs used in the manufacture of goods. Facts …
The Institute of Chartered Accountants of India (ICAI) directed the Candidates contesting in Council and Regional Councils Elections, 2021 not to send frequent unsolicited messages to Voters to avoid cluttering of the communication system. “Members are complaining that they are receiving a number of unsolicited SMS, …