Defence Acquisition Procedure, 2020 & amended to promote ‘Make in India’ & ‘Atmanirbharta’ in defence.
For imputing motives and drawing inference about want of good faith in any person, particularly statutory authority, something more than mere error or fault ought to exist.
2022-TIOL-44-SC-VAT
For delay in refund of IGST on export of goods, HC was in error in awarding interest
exceeding 6 per cent per annum.
Union of India v. Willowood Chemicals Pvt. Ltd. [2022] 137 taxmann.com 334 (SC)
A hospital will not be regarded as a charitable institution if it gives treatment for few poor patients while collecting fee from others who can afford. Section 2(15) of the Income-tax Act – Charitable Purpose.
Institute of Franciscan Missionaries of Mary v. Commissioner, Coimbatore City Municipal Corporation, [2022] 137 taxmann.com 378 (Mad)
CBDT made return filing mandatory if, i) total sales, turnover or gross receipt of business exceeds Rs. 60 lakh during the previous year or total gross receipts of profession exceeds Rs. 10 lakh during the previous year or if TDS/TCS exceeds Rs. 25,000 during the previous year (Rs. 50,000 for individual aged 60 years or more), or aggregate deposit in one or more saving bank account of the person is Rs. 50 lakh or more during the previous year.
Notification G.S.R 307 (E) [No. 37/2022/F.NO: 370142/01/2020 – TPL (Part 1)], Dated
21-4-2022.
The amount in challenge before ITAT & HC is what is relevant for determining tax effect below which Department appeal to HC is barred by CBDT Circular.
Late sh. Gyan Chand Jain v. Commissioner of Income Tax [2022] 137 taxmann.com 323 (SC)
MCA extends date of audit trail feature in accounting software to 01-04-2023, filing of CSR-2 extended to 31-05-2022.
Coming Soon
MCA extends date of audit trail feature in accounting software to 01-04-2023, filing of CSR-2 extended to 31-05-2022.
Notification G.S.R. 235(E) [F. No: 1/19/2013-CL-V Part III], Dated 31 March 2022.
MCA amends the Companies (Indian Accounting Standards) Rules, 2015 making certain additions and replacements. These rules shall be applicable from financial year beginning 1 April 2022 or after.
Notification G.S.R 255(E) [F. No: 01/01/2009-CL-V-Part XI], Dated 23 March 2022.