Excess share of land received by assessee in executing of partition deed with co-owner can’t be taxed u/s 28: ITAT

Case details: ITO v. Undavalli Constructions – [2021] 131 taxmann.com 204 (Visakhapatnam – Trib.) Judiciary … Continue reading “Excess share of land received by assessee in executing of partition deed with co-owner can’t be taxed u/s 28: ITAT”

Sec. 10(23FE) exemption is available only if source of investment in India is not from any borrowings: CBDT

Circular No. 19/2021, dated 26-10-2021 Section 10(23FE) provides an exemption to sovereign wealth funds and … Continue reading “Sec. 10(23FE) exemption is available only if source of investment in India is not from any borrowings: CBDT”

CIRP plea filed within 3 years from date of ‘offer of settlement’ was within limitation period: NCLAT

Case details: Vivekanand Jha v. Punjab National Bank – [2021] 131 taxmann.com 221 (NCLAT- New … Continue reading “CIRP plea filed within 3 years from date of ‘offer of settlement’ was within limitation period: NCLAT”

SEBI amends eligibility criteria for registration of FPIs; permits AIFs set up in IFSCs as eligible FPIs

NOTIFICATION NO. SEBI/LAD-NRO/GN/2021/54, Dated 27.10.2021 The Market Regulator, SEBI has amended the norms for eligibility … Continue reading “SEBI amends eligibility criteria for registration of FPIs; permits AIFs set up in IFSCs as eligible FPIs”

SEBI authorizes practicing Cost Accountants to issue share reconciliation capital audit report

NOTIFICATION NO. SEBI/LAD-NRO/GN/2021/53, Dated 27.10.2021 The Market Regulator, SEBI has amended the Securities and Exchange … Continue reading “SEBI authorizes practicing Cost Accountants to issue share reconciliation capital audit report”

Product ‘Laban’ having main ingredients curd, water and spices is classifiable as Lassi under HSN 0403 90 and exempt from GST

Case details: Authority for Advance Rulings, Gujarat Sampoorna Dairy and Agrotech LLP, In re – … Continue reading “Product ‘Laban’ having main ingredients curd, water and spices is classifiable as Lassi under HSN 0403 90 and exempt from GST”

No anti-dumping duty on import of “Phenol” from European Union, Singapore and Korea

Notification No.61/2021-Customs (ADD) Dated October 20th, 2021 The Central Government revokes the anti-dumping duty imposed … Continue reading “No anti-dumping duty on import of “Phenol” from European Union, Singapore and Korea”