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CBDT proposes changes to Rule 11UA in respect of ANGEL TAX- Also proposes to notify Excluded Entities
Publish Date : Friday, May 19, 2023 Attachments : 1. https://incometaxindia.gov.in/Lists/Press Releases/Attachments/1138/Press-Release-Changes-Proposed-To-RULE-11UA-And-Consequent-notifications.pdf source
Notification No. 29/2023 [F. No. 370142/9/2023-TPL (Part-I)] / SO 2274(E)
Publish Date : Wednesday, May 24, 2023 source
Transfer Pricing Litigation | Insights from the Post SC Decision in SAP Labs
Table of Contents Principal CIT v. Softbrands India Pvt. Ltd. ([2018] 94 Taxmann.com 426/406 ITR 513 (Kar. HC)) SC Decision in SAP Labs India Pvt. Ltd. v. ITO [2023] 149 Taxmann.com 327 (SC) Two Subsequent SC Decisions Areas of Litigation and Possible Approach 1. Principal CIT v. Softbrands India Pvt. Ltd. ([2018] 94 Taxmann.com 426/406 […]
Notification No. 31/2023 [F. No. 200/3/2023-ITA-I] / SO 2276(E)
Publish Date : Wednesday, May 24, 2023 source
Detained Goods to be Released on Furnishing Bank Guarantee or 200% Cash Payment: HC
Case Details: Haresh Kumar v. Assistant Commissioner (ST) - [2023] 150 taxmann.com 380 (Madras) Judiciary and Counsel Details C. Saravanan, J. G. Natarajan for the Petitioner. C. Harsharaj for the Respondent. Facts of the Case The assessee had transported consignment of goods accompanied by invoice and an e-way bill, which was intercepted and detained by the department. […]
SCN can’t be issued by Deputy Commissioner when Form GST DRC-01A was already issued by Asst. Commissioner: HC
Case Details: SSB Petro Products v. Assistant Commissioner, State Tax - [2023] 150 taxmann.com 381 (Calcutta) Judiciary and Counsel Details T. S. Sivagnanam, ACJ. & Hiranmay Bhattacharyya, J. Himangshu Kr. Ray & Nitish Bhandary for the Appellant. A. Ray, Ld. G.P. T.M. Siddiqui, D. Ghosh & D. Sahu for the Respondent. Facts of the Case The appellant was served with an […]
Guidelines for removal of difficulties under sub-section (3) of section 194BA of the Income-tax Act, 1961
Publish Date : Monday, May 22, 2023 source
Trial Court can’t Debar Officer of Directorate of Enforcement from Prosecuting on Behalf of ED: HC
Case Details: Nil Kamal Ghosh v. Dipak Commercial Shrijit International - [2023] 150 taxmann.com 126 (HC-Calcutta) Judiciary and Counsel Details Rai Chattopadhyay, J. Ms Debjani Ray for the Appellant. Facts of the Case In the instant case, the appellant was an officer of the Directorate of Enforcement. The Trial Court by the impugned order upheld that […]
No TCS on Overseas Spending with International Debit/Credit Cards Upto Rs 7 Lakhs per FY
Press Release, dated 19-05-2023 In response to concerns regarding the applicability of TCS to small transactions under the Liberalized Remittance Scheme (LRS) starting from July 1, 2023, the Ministry of Finance (MoF) has decided to exclude payments made by individuals using their international debit or credit cards up to Rs 7 lakh per financial year […]
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