2021-TIOL-NEWS-245 Part 2Dated: Monday, October 18, 2021

2021-TIOL-NEWS-245| October 18, 2021

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INCOME TAX


	2021-TIOL-1682-ITAT-DEL Kuber Products Pvt Ltd Vs ACIT Whether statement of third party cannot be sole base to make addition in hands of assessee in case of search in absence of any corroborative material – YES : ITAT - Assessee's appeals allowed: DELHI ITAT 2021-TIOL-1681-ITAT-MUM Trimurti Films Pvt Ltd Vs ACIT Whether letting out of land independently which is part of business asset of assessee can be treated as income from business – YES : ITAT - Assessee's appeal dismissed: MUMBAI ITAT 2021-TIOL-1680-ITAT-AHM Avani Shaileshbhai Mehta Vs Pr.CIT Whether power for expanding scope of proceedings u/s 147 does not lie with PCIT and he cannot expand scope of proceedings u/s. 147 by raising issue of deduction u/s. 54B – YES : ITAT - Assessee's appeal allowed: AHMEDABAD ITAT

TODAY'S CASE (INDIRECT TAX)


	Cus - When the customs application has already been disposed, question of passing the order dismissing said application does not arise, interim application of applicant is dismissed: HC

INDIRECT TAX

2021-TIOL-2043-HC-MUM-CUS

CC Preventive Vs Nucleus Securities Ltd

Cus - By an earlier order, court framed substantial questions of law and directed the respondent to send the statement of case to the Bombay High Court with regard to substantial question of law as expeditiously as possible - But even after passing of over 15 years, respondent has not sent the statement of case to this court - The grievance of appellant is that respondent is not taking any action to comply with directions of this court passed in said order but applicant has to incur substantial costs to keep the bank guarantee alive - This court in its order has actually disposed of Customs Application, which applicant is praying to be dismissed for want of prosecution - Since the customs application has already been disposed, question of passing the order dismissing said application does not arise - Hence the present interim application of applicant is dismissed: HC

- Application dismissed: BOMBAY HIGH COURT

NEWS FLASH

India, Israel to resume FTA dialogue next month

Russia shuts down NATO's Missions in Moscow

Former US Secretary of State Colin Powell dies of COVID-19

Govt appoints IRS officer Aman Mittal as Addl PS to Piyush Goyal

Rail Roko agitation by farmers disrupts train services in Haryana & Punjab

Weather Office issues Red Alert for Uttarakhand; Char Dham Yatra suspended

No stopping to spike in diesel prices nearing Rs 100 per litre in many States

ICE CUBE

Fiscal Anarchy by Centre & States choke Fossil Fuels

By TIOL Edit Team

IT is time to revisit tax maths with both Reserve Bank of India (RBI) and former Finance Minister P Chidambaram, voicing deep concern over indirect taxes' role in runaway rise in prices of petrol and diesel. Our quick calculations of all central and state taxes on non-GST petro-products presents ...

GUEST COLUMN

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Guidelines regarding reorganization including change of name, change of shareholding pattern, business transfer arrangements, court approved mergers and demergers, change of constitution, change of Directors, etc. of SEZ Developers / Co-developers as well as SEZ Units

TRDADE NOTICE

Trade Notice 21

Extension of Date for Mandatory electronic filing of Non-Preferential Certificate of Origin (CoO) through the Common Digital Platform to 31st October 2021

PUBLICE NOTICE

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Enlistment under Appendix 2E to issue Certificate of Origin (Non - Preferential) for All India Jurisdiction.

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Enlistment of Agency(ies) under Appendix 2E of FTP, 2015-2020 - authorized to issue Certificate of Origin (Non-Preferential)

ORDER


	CBIC posts 17 IRS officers on loan basis and with addl charge