2022-TIOL-NEWS-058 Part 2 Dated: Friday, March 11, 2022

2022-TIOL-NEWS-058 Part 2| March 11, 2022

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	2022-TIOL-265-ITAT-JAIPUR Kanodia Enterprises Vs ITO Whether entire sale consideration cannot be treated as income but addition can be made only to extent of estimated profits embedded in sales - YES : ITAT - Matter remanded: JAIPUR ITAT 2022-TIOL-264-ITAT-AHM Greenfield Realty Pvt Ltd Vs DCIT Whether Revenue Authority is right in estimating profit element embedded in cash receipts at 20%, without any justification – NO: ITAT - Assessee's appeal partly allowed/Revenu's appeal dismissed: AHMEDABAD ITAT 2022-TIOL-263-ITAT-KOL Rotary Presidency Foundation Vs ITO Whether any omission of fact is sufficient reason to disallow benefit u/s 11, 12 or 13 to an assessee - NO: ITAT - Assessee's appeal allowed: KOLKATA ITAT

NEWS FLASH


	Industrial Production registers 1.3% growth in Jan month ACC appoints Debasish Panda as Chairman of IRDAI President appoints Justice Vipin Sanghi as Acting Chief Justice of Delhi HC UK to impose sanctions on all Russian Parliamentarians for supporting invasion of Ukraine CBSE to conduct Class 10 & 12 exams on April 26 Chinese Premier Li Keqiang to quit in coming March China reports fastest and widest Omicron's spread in Shanghai & other cities

TOP NEWS


	PLI Scheme - Govt invites applications from Drone Industry NHPC pays interim dividend of Rs 934 Cr

ORDER / NOTIFICATION


	F.No.187/4/2021-ITA-I Order under Para 3 of the Faceless Penalty Scheme, 2021 for defining the scope of penalty to be assigned to the Faceless Penalty Scheme, 2021 cnt16_2022 CBIC revises exchange rate of Turkish Lira

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