2021-TIOL-NEWS-112 Part 2, Dated: Thursday, May 13, 2021

2021-TIOL-NEWS-112 Part 2 | May 13, 2021

Dear Member,

Sending following links.

Warm Regards,
TIOL Content Team

TIOL PRIVATE LIMITED.

For assistance please call us at + 91 7838594749 or email us at helpdesk@tiol.in.

INCOME TAX


	2021-TIOL-791-ITAT-MUM ITO Vs Hari J Thakur Whether the CIT(A) justified in deleting the addition made on account of sale of land by treating the same as agriculture land - YES : ITAT - Revenue's appeal dismissed: MUMBAI ITAT 2021-TIOL-790-ITAT-MUM State Bank Of India Vs ACIT Whether when bank was already valuing its securities as investment at costs or market price whichever is less, then ITO cannot further revalue such securities for income tax purposes - YES: ITAT - Assessee's appeal allowed / Revenue's appeal dismissed: MUMBAI ITAT 2021-TIOL-789-ITAT-MAD Hitachi Automotive Systems India Pvt Ltd Vs DCIT Whether surplus funds kept in fixed deposits having inextricable link with project, then interest earned should be reduced from work in progress, but cannot be assessed under the head income from other sources - YES : ITAT - Case remanded: CHENNAI ITAT

NEWS FLASH

Govt says over 200 Cr vaccine doses to be available by year-end

Maharashtra, Bihar extend lockdown

ED attaches property worth Rs 3 Cr of M/s Classic Coal Construction, Ranchi

South Korea sends more emergency supplies to India - 100 portable oxygen concentrators; 10 ventilators & 10K test kits

UPSC to hold Prelims Exams on Oct 10, 2021

India receives 1200 more oxygen cylinders from UK

TIOL wishes All Netizens a very happy Eid-ul-Fitr

Covaxin gets official nod for clinical trial in 2-18 age bracket

EU Court rules against European Commission imposing USD 303 mn tax bill on Amazon in anti-trust case

GUEST COLUMN

By Shailesh Sheth

Supplier sins and Recipient repents - Part II

"Ngakyaw ate it, but it was Ngakyi who had to pay."
[From "Hill Proverbs of the Inhabitants of the Chitagong Hill Tracks' by Capt. Thomas Herbert Lewin]

BEFORE we discuss the provisions of S.16(2)(c) and (aa) of the CGST Act, 2017 and their implications as well as maintainability, it would be necessary...

CIRCULAR

rbi21cir04

Sponsor Contribution to an AIF set up in Overseas Jurisdiction, including IFSCs

TOP NEWS

Gap for Covishield doses increased to 12-16 weeks

India chairs first BRICS Employment Working Group meeting

DCGI approves Covaxin clinical trials on 2-18 year olds

TIOL PRIVATE LIMITED.
TIOL HOUSE, 490, Udyog Vihar, Phase - V,
Gurgaon, Haryana - 122001, INDIA
Web: https://taxindiaonline.com
Email: updates@tiol.in
__________________________________
CONFIDENTIALITY/PROPRIETARY NOTE.
The Document accompanying this electronic transmission contains information from TIOL PRIVATE LIMITED., which is confidential, proprietary or copyrighted and is intended solely for the use of the individual or entity named on this transmission. If you are not the intended recipient, you are notified that disclosing, copying, distributing or taking any action in reliance on the contents of this information is strictly prohibited. This prohibition includes, without limitation, displaying this transmission or any portion thereof, on any public bulletin board. If you are not the intended recipient of this document, please return this document to TIOL PRIVATE LIMITED. immediately