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by shinewingindia

Consideration to foreign attorneys for rendering services in field of IPRs are FTS u/s Section 9(1)(vii) of Income Tax Act: ITAT, Kolkata

Facts of the case: Assessee is a pa...

by shinewingindia

No Refund to be Withheld unless Reasons Recorded: Supreme Court

No Refund to be Withheld unless Reasons ...

by shinewingindia

Reforms in Monetary Policy amidst COVID-19, by Reserve Bank of India (RBI)

Reforms in Monetary Policy amidst COVID-...

by shinewingindia

COVID-19 Relief on Tax Compliances

ECONOMY STANDS FOR ITSELF, WE SUPPORT: G...

by shinewingindia

Mismatch in Form 26AS – No addition to be made if explanation is offered for difference: ITAT Mumbai

Facts of the Case: Assessee is enga...

by shinewingindia

Internal Controls & SOX 2.0 in the time of COVID – 19 || REVIEW-RESET-RESTART

Sarbanes-Oxley (SOX) Act in 2002 refer S...

by shinewingindia

Order cannot be Passed without Considering Application for Producing Additional Evidence

Facts of the case: The assessee had...

by shinewingindia

Is Cost of the Construction to be Deemed as a Contract? : No 194C Held Bombay High Court

Facts of the case Assessee being a ...

by shinewingindia

See-through approach u/s 9(1)(i) not available under Article 13(5) of India Belgium Treaty: Mumbai ITAT

Facts of the Case The assessee comp...

by shinewingindia

Prior Government Approval in case of Foreign Direct Investment by Chinese Companies in India

Department for promotion o...

by shinewingindia

CBDT Clarifies Employer Disconcertment on New Individual Tax Regime

Issues prevailing in industry requiring ...

by shinewingindia

No TDS on Payment Made to Indian Agent of Non-Resident Shipping Company, Section 172 to Prevail

Facts of the case Assessee filed it...

by shinewingindia

Rajasthan Authority for Advance Ruling – Salary Paid to Directors is liable to GST under Reverse Charge?

Matters on which ruling is sought W...

by shinewingindia

Section 68 Additions Cannot be made if Assessee has proved the Credit Worthiness of Creditors

Facts of the Case: During the yea...

by shinewingindia

AO to Grant Refund if there is No Reason Forthcoming from him for Delayed Processing of ITR

Facts of the case: Petitioner filed...

by shinewingindia

Sales of Shares Supported by Evidence Cannot be held as Sham Transaction

Fact of the case Assessee purchased...

by shinewingindia

Where Assessee had Paid Taxes in a Foreign Country and since the Tax Credit is not available, Taxes Paid in Foreign Country are allowed as Business Expenditure

Facts of the case: During the Asses...

by shinewingindia

No Tax on Closely Held Companies, if Excess Share Premium Paid by Relatives-Shareholders

Facts of the Case The assessee-comp...

by shinewingindia

Subsidy Received for Repayment of Term Loans Undertaken for Setting Up New Unit was Non-Taxable as Capital Receipt

Facts of the case: Assessee is a te...

by shinewingindia

Where Assessee had made payment to Foreign Celebrity, for an appearance made by him in Dubai at a product launch event for promoting business of Assessee in India, Assessee would be liable to withhold taxes from payment so made.

Facts of the case: Assessee was car...

by shinewingindia

Where Assessee claimed deduction of interest on borrowed capital against rental income of house property, renting house to his own son and daughter, partially allowed u/s 24(b)

Facts of the case: Assessee, being ...

by shinewingindia

Penalty to be Levied only when it is proved that Income was Concealed or Inaccurate Particular was Furnished

Facts of the Case: The assessee decla...

by shinewingindia

Income Tax Refund cannot be withheld by Mere Issuance of Notice u/s 143(2)

Facts of the case: The assessee fil...

by shinewingindia

Tax Benefit for Individuals and Corporates: COVID-19 PM Cares Fund

In order to encourage contributions for ...

by shinewingindia

COVID-19 Relief to Senior Citizens related to Form 15G and 15H

To provide relief to senior citizens, wh...

by shinewingindia

Companies Fresh Start Scheme, 2020 (CFSS-2020): COVID-19 Relief Measure

In order to facilitate the companies reg...

by shinewingindia

DUE DATES TO FILE GST RETURNS, LATE FEE AND INTEREST, AND OTHER RELEVANT UPDATES

Due dates of Filing Form GSTR-3B ...

by shinewingindia

Scheme for Promotion of Manufacturing of Electronic Components and Semiconductors (SPECS) – Ministry of Electronics and Information Technology

The Government on 01.04.2020 has come up...

by shinewingindia

Production Linked Incentive – Ministry of Electronics and Information Technology

Ministry of Electronics and Information ...

by shinewingindia

Advance Forfeited in Ordinary Course of Business: Allowability under Income Tax

Facts of the Case Assessee, being a...

by shinewingindia

Relaxation for realization & repatriation of export proceeds: COVID-19 Relief Measure

In view of disruptions caused due to COV...

by shinewingindia

No Deemed Dividend where Money Lending is Substantial Part of Business

Facts of the Case: Assessee was hol...

by shinewingindia

Application for Lower Tax Withholding Certificate: COVID-19 Waiver

Due to outbreak of the pandemic Covid-19...

by shinewingindia

Assesses may file Refund Application of IGST paid on ‘Ocean Freight’ – Gujarat High Court

Facts of the case: Applicant filed wr...

by shinewingindia

Brought forward Business Losses can be adjusted even after 8 years for computation of Adjusted Book Profit u/s 115JB

Facts of the case: The assessee had...

by shinewingindia

Not updating the vehicle no. in E-way bill is a procedural lapse, liable to penalty of Rs. 10,000 only: Appellate Authority – GST

Facts of the case: Appellant (trans...

by shinewingindia

Waiver of Loan for Acquiring Capital Assets is not taxable as Business Income under Income Tax Act – Supreme Court

Facts of the Case: Mahindra And Mah...

by shinewingindia

HC Directs Assessee to File ITR in Paper Form as he was unable to Claim Set Off of Losses while E-Filing

Facts of the Case: The assessee is an...

by shinewingindia

Relief in COVID-19 Pandemic to Corporate Sector

With an objective to boost the enthusias...

by shinewingindia

Relief announced by Finance Ministry during the Press Conference held earlier today.

We are with you in Pandemic COVID-19 Out...

by shinewingindia

Clarification on Spending of CSR Funds for COVID-19

Keeping in view of the spread of novel C...

by shinewingindia

Sum Advanced to Subsidiary Company would be Capital Asset within Meaning of Section 2(14)

Facts of the Case: The assessee advan...

by shinewingindia

Training Services Provided by Sub-Contractor to State Government are Taxable @18%: AAR-Karnataka

Facts of the case: Applicant is expec...

by shinewingindia

CAR (Company Affirmation of Readiness towards COVID-19) Form – 2020

The Novel Corona-Virus (COVID-19) has hi...

by shinewingindia

No Addition Towards Notional Rent if Property Remained Vacant due to Obstruction Caused by Ongoing Metro Project

Facts The assessee was engaged in t...

by shinewingindia

Relaxation from Compliances with SEBI Regulations due to COVID-19 Virus Pandemic

The Securities and Exchange Board of Ind...

by shinewingindia

ITC Not Permissible on Goods and Services used in Construction of Warehouse for Letting Out on Rent – AAR Maharashtra

Facts of the Case: Applicant, being...

by shinewingindia

Notifications Levying IGST on Importer on Component of Ocean Freight Paid by Foreign Seller Unconstitutional

Facts of the case: Applicant import...

by shinewingindia

Recommendations made in 39th GST Council Meeting held on 14th March, 2020

Extension and Deferment Revocatio...

by shinewingindia

Applicability of Legal Entity Identifier (LEI) by RBI on Non-Derivative Forex Transactions

Reserve Bank of India (RBI) vide its cir...

by shinewingindia

Where Competent Authority had detained goods under transport as well as vehicle and thereafter passed an order for confiscation of goods and vehicle, since goods were duly accompanied by valid documents, there was no reason for Competent Authority to confiscate the same.

Facts of the case: Petitioner is en...

by shinewingindia

CG Introduces “LLP Settlement Scheme, 2020” for Defaulting LLPs

The Central Government (CG) has introduc...

by shinewingindia

Detention of goods and vehicle on account of different route opted by driver not justified

Facts of the case: Competent Author...

by shinewingindia

February 24, 2020

Writ petition for payment of interest on belated GST liability which is paid in Cash, admitted – Honorable High Court of Madras

Petition has been filed before Honorable...

by shinewingindia

February 24, 2020

Import of Diamonds for Re – Export would be in Nature of Services for Claiming Section 10AA Deduction

FACTS Assessee is a partnership fir...

by shinewingindia

February 20, 2020

BRANCH OFFICE ENTITLED TO AVAIL FULL ITC OF TAX PAID BY HEAD OFFICE WHERE PAYABLE ARE ADJUSTED AGAINST RECEIVABLE: AAAR

FACTS OF THE CASE: Appellant, the branc...

by shinewingindia

February 17, 2020

Refund of IGST paid on exports cannot be denied where assessee inadvertently claimed drawback under wrong provision

Facts of the case: Under pre - GST ...

by shinewingindia

February 15, 2020

Recovery of Parental Insurance Premium from employees is NOT a ‘Supply of Service’ by company

Recovery of Parental Insurance Premium f...

by shinewingindia

February 5, 2020

CLARIFICATION ON THE NEWLY ADDED SECTION 194K FOR TDS

Insertion of section in budget: Gover...

by shinewingindia

February 1, 2020

Amendment in Rule 12 of Companies (Accounts) Rules, 2014 regarding filing of AOC- 4 by NBFCs

Ministry of Corporate Affairs (MCA) vide...

by shinewingindia

January 30, 2020

Mandatory digital payments for businesses having more than Rs 50 crore topline by 31st January 2020

Has your turnover exceeded Rs.50 crore p...

by shinewingindia

January 28, 2020

INVESTMENT IN UNLISTED EQUITY SHARES OF INDIAN COMPANY BY FOREIGN PORTFOLIO INVESTOR (FPI)

FACTS OF THE CASE:  IPFII Singapore 4 ...

by shinewingindia

January 28, 2020

GST TAXPAYERS CAN NOW FILE THEIR GSTR-3B IN A STAGGERED MANNER

Considering the difficulties faced by tr...

by shinewingindia

January 28, 2020

AMENDMENT OF RULE 10DA AND RULE 10DB REGARDING FURNISHING OF INFORMATION AND MAINTENANCE OF DOCUMENTS BY CONSTITUENT ENTITY OF AN INTERNATIONAL GROUP

AMENDMENT OF RULE 10DA AND RULE 10DB REG...

by shinewingindia

January 23, 2020

Major Relief for Insurance Sector – Circular No– IRDA/F&A/CIR/ACTS/023/01/2020

Circular No– IRDA/F&A/CIR/ACTS/023/0...

by shinewingindia

January 23, 2020

Electricity supplied through grid supply is goods and exempt – AAR

SUPPLY OF ELECTRICITY, UTILITIES BY LESS...

by shinewingindia

January 14, 2020

ITAT allowed deduction of interest paid on borrowed money though no interest was earned on its further lending

ITAT ALLOWED DEDUCTION OF INTEREST PAID ...

by shinewingindia

January 13, 2020

CBDT NOTIFIES PRESCRIBED ELECTRONIC MODES OF PAYMENT FOR SECTION 269SU

The Finance (No. 2) Act, 2019 introduced...

by shinewingindia

January 9, 2020

Amendment in the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014

Ministry of Corporate Affairs vide a not...

by shinewingindia

January 8, 2020

BENEFIT OF TDS IS TO BE GIVEN FOR ASSESSMENT YEAR FOR WHICH CORRESPONDING INCOME IS ASSESSABLE

Facts of the case: ➢ Assessee was engag...

by shinewingindia

January 6, 2020

Extension of date for filing cost audit report for FY 18-19

Ministry of Corporate Affairs (MCA) vide...

by shinewingindia

December 28, 2019

Where assesse has declared its income at maximum rate and return of income was accepted without addition, penalty u/s 271(1)(c) cannot be levied: #ITATChandigarh

Facts of the case: The assessee, in...

by shinewingindia

December 27, 2019

Extension of due date for payment of TDS u/s 194M

The Central Board of Direct Taxes (CBDT)...

by shinewingindia

December 27, 2019

EXEMPT INCOME NOT TO BE CONSIDERED FOR THE PURPOSE OF COMPUTATION OF BOOK PROFIT U/S 115JB: ITAT MUMBAI

Facts of the case: The assessee had...

by shinewingindia

December 26, 2019

Extension of Time Limit for Filing of Response on E-Portal: CBDT

CHRISTMAS GIFT TO TAXPAYERS UNDER ASSESS...

by shinewingindia

December 23, 2019

Auditor’s report to be relied for allowance depreciation on unidentifiable assets received during amalgamation: Allahabad High Court

Facts of the case: The assessee com...

by shinewingindia

December 21, 2019

Extension of date of payment under Income Declaration Scheme

CBDT extends deadline for payment under ...

by shinewingindia

December 18, 2019

Key highlights of decisions taken in 38th GST Council meeting

Law and Procedure related changes ...

by shinewingindia

December 18, 2019

Income Tax Update

Once prior period income is held to be t...

by shinewingindia

December 17, 2019

CBDT extends advance tax payment deadline for north-eastern states to December 31st, 2019

The Central Board of Direct Taxes (CBDT)...

by shinewingindia

December 16, 2019

Non-debt instruments rules, 2019 of FEMA

Central government notification dated 17...

by shinewingindia

December 16, 2019

Extension of last date of filing of form MGT-7 and AOC-4 for J&K and Ladakh

Relaxation of additional fees and Extens...

by shinewingindia

December 16, 2019

Is MAT applicable for AY 2020-21?

In order to provide relief to the corpor...

by shinewingindia

December 14, 2019

ISSUE OF INVOICES UNDER GOODS AND SERVICES TAX LAW

Through notification, Govt. has made fol...

by shinewingindia

December 11, 2019

EXTENSION OF LAST DATE OF FILING FORM PAS-6

The Ministry of Corporate Affairs (MCA) ...

by shinewingindia

December 11, 2019

Last few days to avail the benefit of Scheme “Sabka Vishwas” 2019

Recently government has issued a notific...

by shinewingindia

December 11, 2019

Withdrawal of Circular on Information Technology Enabled Services, ab initio

Circular No. 107/26/2019-GST dt.18.07.20...

by shinewingindia

December 9, 2019

NBFC’S UNDER THE PREVIEW OF THE INSOLVENCY AND BANKRUPTCY CODE, 2016

Due to increasing pressure on the Indian...

by shinewingindia

December 7, 2019

Whether Provision for Loss and Provision for Gratuity to be Considered in MAT Calculation?

Fact of the Case: Assessee was oper...

by shinewingindia

November 28, 2019

CONTRACT OR ARRANGEMENT BY A COMPANY WITH ITS RELATED PARTY

AMENDMENT IN RULES UNDER COMPANIES ACT, ...

by shinewingindia

November 27, 2019

Key highlights of “The Taxation Laws (Amendment) Bill, 2019″

The President of India has implemented t...

by shinewingindia

November 26, 2019

The Amalgamated Co. can utilize the MAT credit of its Amalgamating Co.

Fact of the Case: The assessee was ...

by shinewingindia

November 25, 2019

SEBI Update: Disclosure to Stock Exchange

IN CASE OF DEFAULT IN PAYMENT OF INTERES...

by shinewingindia

November 21, 2019

Forex Loss Arising on Loan Taken for Acquiring Assets

Facts of the case: 1. Assessee had clai...

by shinewingindia

November 21, 2019

Blocking / unblocking of E-way Bill System facility with effect from 21 November 2019

Rule 138 of CGST Rules provides that for...

by shinewingindia

November 19, 2019

COMPENSATION RECEIVED BY LESSOR ON ACCOUNT OF TERMINATION OF LEASE DUE TO SALE OF PROPERTY IS CAPITAL RECEIPT

Facts of the case: The assessee own...

by shinewingindia

November 19, 2019

Simplification of Form GSTR-9 and GSTR-9C

SIMPLIFICATION OF FORM GSTR-9 and GSTR-9...

by shinewingindia

November 18, 2019

Beholding principal of Natural Justice before declaring ITR as invalid: ITAT (Pune)

Facts of the case: The assessee fil...

by shinewingindia

November 18, 2019

Notification: Insertion of Rule 11UAC in the Income Tax Rules, 1962

New Rule 11UAC has been inserted vide No...

by shinewingindia

November 18, 2019

Examination for appointment of independent directors

AMENDMENT IN RULES UNDER COMPANIES ACT, ...