2021-TIOL-NEWS-111 Part 2, Dated: Wednesday, May 12, 2021

2021-TIOL-NEWS-111 Part 2 | May 12, 2021

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INCOME TAX


	2021-TIOL-785-ITAT-MAD Dolphin Infradevelopers Pvt Ltd Vs ITO Whether when despite being given opportunities, there is no compliance by assessee, AO can proceed to conclude best judgment assessment u/s 144 - YES: ITAT - Case remanded: CHENNAI ITAT 2021-TIOL-784-ITAT-BANG Srinagara Credit Cooperative Society Ltd Vs ITO Whether it is a fit case for remand where computing deduction u/s 80P(2)(c) is to be preceded by determination of profits and gains attributable to the activities of earning commission income on sale of e-stamps - YES: ITAT - Case remanded: BANGALORE ITAT 2021-TIOL-783-ITAT-AHM Unison Insurance Broking Services Pvt Ltd Vs DCIT Whether disallowance u/s 36(1)(va) in respect of employees contribution to PF and towards ESIC is sustainable, where such payments are made beyond the period prescribed in the specified Act - YES: ITAT Whether disallowance u/s 40(a)(ia) is sustainable where assessee omits to deduct TDS in respect of interest payments made to certain parties - YES: ITAT - Assessee's appeal dismissed: AHMEDABAD ITAT

NEWS FLASH

Industrial production rises sharply - 22% in March month

Two retired IAS officer - Binoy Kumar & Subhash Chandra - appointed as non-judicial Members in National Consumer Disputes Redressal Commission for 4 years

ACC appoints IFS officer Reenat Sandhu as Secretary (West) in MEA

CBDT issues refunds worth Rs 17K Crore between April 1 and May 10, 2021

Global Panel of Independent Experts find fault with WHO; says it would have rung alarm bell sooner

GUEST COLUMN

By S Murugappan

Have a heart - Coughing up taxes when loved ones are gasping for air!

ON 20th April 2021, Government of India issued a Customs exemption notification 27/2021-Cus providing for exemption from payment of customs duties for Remdesivir Active Pharmaceutical Ingredients as well as Remdesivir Injection, among others. Again On 24th April 2021, government issued yet another exemption notification 28/2021-Cus providing for exemption...

TOP NEWS

Cabinet approves ICAI-Qatar Financial Centre Authority pact

Cabinet approves Rs 18,100 cr PLI scheme for ACC battery storage

Centre to ensure 24x7 power supply to 73 oxygen plants

Govt ups availability of Amphotericin B to fight post-Covid mucormycosis

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