2021-TIOL-NEWS-277 Part 2 Dated:Wednesday, November 24, 2021

2021-TIOL-NEWS-277 Part 2 | November 24, 2021

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INCOME TAX


	2021-TIOL-1888-ITAT-CHD ITO Vs Vaneet Mittal Whether additions framed on account of unexplained investments merit being sustained where based solely on assumptions and presumptions - NO: ITAT - Revenue's appeal dismissed: CHANDIGARH ITAT 2021-TIOL-1887-ITAT-DEL Shri Baba Balakpuri Dharmarath Aushadhalaya Trust Vs CIT Whether since assessee is carrying on charitable activities as envisaged u/s 2(15), assessee is entitled for grant of registration u/s 12AA – YES :ITAT - Assessee's appeal allowed: DELHI ITAT 2021-TIOL-1886-ITAT-DEL Jagdish Vs ITO Whether since assessee is willing to substantiate cash payment deposited in his bank account therefore, issue relating to addition of unexplained cash is restored to file of AO – YES: ITAT - Matter remanded: DELHI ITAT

GST CASE

2021-TIOL-2194-HC-KERALA-GST

Powernet India Pvt Ltd Vs UoI

GST - The appellant prayed for a direction for expeditious consideration of representation made by them before the expiry of time stipulated in notification - They have stated few circumstances both for invoking writ jurisdiction and also that, as on date, appellant is not completely shut out from availing the window opened through notification - The Single Judge was pursuaded, rightly not to exercise his discretionary jurisdiction on the ground that they had the remedy of appeal against order impugned in petition and the writ remedy is misconceived - Prima facie, both from the circumstances of case and also the cogent reasons given by Single Judge, appeal does not merit interference with jurisdiction exercised by Single Judge - This observation ought not to be understood as shutting out the other options available to appellant in this behalf - The appellant intends to get cancellation of registration revoked and also apply for settlement in terms of notification - Appellant is given liberty to avail the options open under notification - Appellant is given the liberty to file appeal along with application to condone the delay against order of cancellation of registration before Appellate Authority - The Appellate Authority does the needful in accordance with law: HC

- Writ appeal disposed of: KERALA HIGH COURT

NEWS FLASH

Union Cabinet nod for repeal of three farm legislations; Free food scheme extended by 4 months

Govt re-constitutes panel for disposal of enemy properties

Income tax raids developers in NCR; seizes Rs 10 Crore cash

House Panel recommends creation of Social Media Regulator

Swedish Parliament elects Magdalena Andersson as first woman PM

Beijing disdains Taiwan being invited to Democracy Summit by Biden

GUEST COLUMN

By G Natarajan

Omnibus amendments

AS per Section 9(5) of the CGST Act, 2017, the Government can notify the services in respect of which the tax payable on intra-state supply of such services shall be payable, by the Electronic Commerce Operator if such services are provided through Electronic Commerce Operators. In other words, the person providing such service need not pay GST...

By Nithyananda Shetty & Preetika Shetty

Rule 86A - Automatic Unblocking is the need of the hour

IN his treatise Arthashastra, Chanakya (Kautilya) says "Governments should collect taxes like a honeybee, which sucks just the right amount of honey from the flower so that both can survive". This reminds us of the 'Input Tax Credit' mechanism, which is akin, as the Government by allowing input tax credit ensures that only right amount of taxes are collected, thereby allowing the economy to survive, sustain and grow. But a sad situation is that certain section of taxpayers misuse...

INSTRUCTION

F.No.401/74/2021-Cus-III

Import of wireless equipment by Telecom Service Providers (TSPs) on the basis of self-declaration

F.No. 401/86/2021-Cus-III

Direction under Section 16 (5) of Food Safety and Standards Act, 2006 regarding extension of validity of the NOC for the Alcoholic Beverages Bottled in Origin & in Bulk

F.No. 401/88/2021-Cus-III

Import of teas from the neighbouring country (Nepal) as "Darjeeling Tea"

NOTIFICATION

cnt93_2021

CBIC revises Turkish Lira exchange rate for Customs purposes

TOP NEWS

NITI Aayog seeks feedback on paper 'Digital Bank - Regulatory Regime'

Cabinet nod for continuation of Climate Research-Modelling Systems

Cabinet approves extension of PM Garib Kalyan Ann Yojana

Cabinet approves privatization of electricity retail supply in Dadra & Daman

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