News Update

Tax Audit Report - CBDT to validate UDIN generated from ICAI PortalCOVID-19: France eyeing 80% vaccination by end of 2021GST - By increasing base prices, millions of ordinary customers who are not identifiable were not extended the benefit of tax reduction - P&G directed to deposit profiteered amount of Rs.241.51 crores: NAAUNDP, Invest India launch SDG Investor Map for IndiaCentral Trade Unions go on nationwide strike todayAA becomes functus officio - PAO under PMLA loses sheenIndependent Directors - responsibility, remuneration and liability (See 'http://tiolcorplaws.com/')COVID-19: Funding of Global Vaccination Mission - Time to take gilt off tax havens' gingerbread!GST on liaison office of an Overseas entity set up in India - CBIC needs to intervene (See 'THE INSIGHT' in Taxongo.com)I-T - High Court failed to exercise powers under Art 226, by relegating assessee to appellate remedy while also giving liberty to raise issue contesting validity of a provision of I-T Act, at 'appropriate moment': SC LBCX - It is trite law that if invoice issued by manufacturer contains details of assessee as consignee, the assessee is entitled for CENVAT credit even if the buyer of the goods is unregistered: CESTATGST - No let-up in fake invoice racket - DGGI Mumbai Unit arrests 3 personsCus - Confiscation of imported yarn u/s 111(m) & penalty u/s 112(a) Customs Act 1962 , are sustained where importer admits to mis-declaration of the description of the goods & tariff item - quantum of both levies reduced: CESTATCalling from fixed line to Mobile - Zero comes back from Jan 15, 2021ST - Commr.(A) rejected appeal on limitation, not being empowered to condone delay beyond three months - That O-i-A pertains to deceased proprietor of assessee-company is irrelevant, as no demand was confirmed: CESTATMHA again authorises States to opt for local lockdownSearch assessment u/s 153C cannot be resorted to where no documentary evidence incriminating the assessee are found in course of Search proceedings: ITATAdditions framed u/s 69A on account of unexplained jewellery are unsustainable, if based solely on minor mis-match in jewellery found in course of Search operations: ITATDisallowance of any claim made by the assessee would not mechanically attract imposition of penalty u/s 271(1)(c): ITATFootball legend Diego Maradona passes awayGovt extends terms of ITAT V-P Sushma Chowla & Member A K Garodia till Dec 31, 2020UK Chancellor says Govt to spend 0.5% of GDP on overseas aid in 2021GST Compensation - West Bengal & Kerala finally opt for Option-1Post supply discount and ITC reversal - why this kerfuffle
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