Monday, 4 October 2021

Daily digest for Gupta Chandan & Associates, on October 4, 2021

posted: "EXCISE/ST/VAT : Late application of fixation of special rate for payment of excise duty to be accepted if delayed due to pendency of case with SCEXCISE/ST/VAT : Late application of fixation of special rate for payment of excise duty to be accepted if dela"
posted: "INCOME TAX : Where there was difference between assessees books of account and accounts as per TDS certificate, on said difference, only embedded portion of profits was to be taken into consideration and addition was to be made thereon; there was no justi"
posted: "INCOME TAX : Where Assessing Officer granted stay of recovery of demand by directing assessee to pay 20 per cent of total demand, since Assessing Officer had passed impugned order of grant of conditional stay by taking all facts into consideration and sai"
posted: "Based on the representations received from the market participants, the SEBI has decided to extend the validity of relaxations for Rights Issues till 31-03-2022 with respect to Refund for un-allotted partial allotted application. In addition to foregoing,"
posted: "The Reserve Bank of India (RBI) has specified the conditions for an eligible entity to open and maintain only one Subsidiary General Ledger (SGL) account. However, Bank may allow an entity to open additional SGL accounts after specified the additional con"
posted: "The Income-tax Department has carried out search and seizure operations in Ahmedabad on a real estate developer group and the brokers connected with this group. Over all, the search amp; seizure operation has resulted in the detection of unaccounted trans"
posted: "INCOME TAX : Once a refund is declared after scrutiny proceedings and such refund is withheld, a reasoned order has to follow because assessment in such a case is done after production of materials and evidence required by Assessing OfficerINCOME TAX : On"
posted: "The DGFT has issued trade notice to extend the mandatory electronic filing of Non-Preferential Certificate of Origin (CoO) till 31st October, 2021. The option of submission and issuance of CoO (Non-Preferential) by the issuing agencies through their paper"
posted: "INCOME TAX : Where assessee trust was established with objective to develop world class gems and jewellery park to provide common facilities required to promote exports of diamonds from India and it was not carrying out any trade, commerce or business and"

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