TaxCorp News 
Industrial output shrivels to 12.3% in June month
Exports grows at 11.5 % in July month
Mandaviya reviews progress of Nano Urea production; eyes 6 Cr bottles
80% of India's honey exports is to United States: Govt
NeGD organises Capacity Building program in Cloud Computing for govt officials
India globally ranks 3rd in Start-Up ecosystem: MoS
Elephants are critical to wildlife and biodiversity: Minister
To promote honey export, Government to organize series of events, in collaboration with state govts and farmers
Government commences Basmati crop survey to estimate acreage, assess crop health, expected yield of Basmati rice during 2022-2023 crop year
Auction for Sale (issue/re-issue) of (i) ‘6.69% GS 2024’, (ii) ‘7.10% GS 2029’, (iii) ‘New GS 2032’ (iv) ‘6.95% GS 2061’
Tariff Notification No. 68/2022-Customs (N.T.) in respect of Fixation of Tariff Value for Edible Oils, Brass Scrap, Areca Nut, Gold and Silver
Income Tax Department conducts searches in Uttar Pradesh
PLI - Portal launched to capture data of domestic value addition
Information related to Pax Name Record to help Customs preventive activities
IREDA plans Alternate Investment Fund to tap large institutional investors
Govt stitches Action Plan for introduction of Cheetah
ECI organizes knowledge transfer conference of Chief Electoral Officers
Justice Uday Umesh Lalit appointed as 49th CJI
MoF releases two instalments of tax devolution to States amounting to Rs 1.2 lakhCr
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ITAT: The orders passed under Section 201(1) and 201(1A) is time barred since the notice itself was issued beyond the period of four years from the end of relevant FY.

HC: Merely because some pecuniary limit has been fixed for purpose of distribution of work between officers, it would not mean that there shall be inherent lack of jurisdiction.

ITAT: Assessee is eligible for depreciation under Section 32 as non-compete fee is an intangible asset.

HC: If an adverse order is passed by PCIT then no effect shall be given for one week from the date of service of the order.

ITAT: Assessee could not substantiate or produce any evidence to correlate the expenses and thus disallowance is confirmed.

HC: The cognizance, which has been taken for evasion of tax is ex-facie erroneous and deserves to be quashed and set aside.

HC: Though the special audit report is not binding on the Revenue, the reasons for discarding it have to be recorded by the AO after proper discussion and cannot be discarded summarily.

HC: CBDT Notification No.113/2021 dt. Sept 17, 2021, extending the deadline for completion of assessment under Benami Act cannot be extended to Adjudicating Authority who ceased to hold the office

HC: Order under Section 241A cannot be passed in a mechanical and routine manner and refunds cannot be withheld just because Section 143(2) notice has been issued and the Revenue wants verify the claim…

ITAT: Rs.121.15 Cr received by a Singapore-based company from its Indian AE for rendering certain business support services is not taxable under India-Singapore DTAA as the services did not make available…

HC: After voluntary payment is done and accepted in Form DRC-03 and order issued in Form MOV-09, non-generation of summary of an order under Form DRC-07 cannot result in the right of person to file an…

HC: The order of cancellation of the registration on the ground that no reply was given is equally lacking in terms of a quasi-judicial fervor as the same does not contain any reasoning whatsoever.

HC: When the sole cause of action for initiating the proceedings against the Assessee and passing of the impugned adjudication orders doesn’t survive, such matters should be remitted to the adjudicating…

HC: Where the trial will take its own time to conclude, the Commissioner is empowered to recover the due amount and propose for abating the proceedings.

HC: Tax invoice based on which goods were dispatched from Telangana to Rail Coach Factory, Raebareli, UP was dated February 26, 2018 and was issued in compliance with Rule 46.

HC: Revenue is directed to invest the money in an interest-bearing fixed deposit maintained with a nationalized bank and issue SCN to assesses, and after considering the replies, pass a speaking order…

HC: Even a plain reading of the provision does not suggest that the orders need not be signed. At the least, the revenue should have appended digital signatures as it has grave implications for the as…

NAA: Computation of profiteered amount is an easy mathematical exercise which can be done by any person who has elementary knowledge of accounts.

NAA: The benefit of reduction in the tax rate has not been passed on to the recipients by way of commensurate reduction in the prices in terms of section 171 (1) of the CGST Act, 2017.

NAA: Anti-profiteering clause is not applicable against Respondent’s project Epic as all the events like launch of project, bookings and allotment of the units happened in the post-GST era.

Clause 202 - Immunity from initiation of proceedings in respect of offence and imposition of penalty in certain cases
Clause 201 - Time and manner of payment
Clause 200 - Particulars to be furnished
Clause 199 - Declaration of tax payable
Clause 198 - Definitions
Clause 197 - Short title and commencement
Clause 193 - Scheme not to apply to certain persons
Clause 192 - Applicability of certain provisions of Income-tax Act and of Chapter V of Wealth-tax Act
Clause 191 - Exemption from wealth-tax in respect of assets specified in declaration
Clause 190 - Declaration by misrepresentation of facts to be void
Clause 189 - Declaration not admissible in evidence against declarant
Clause 188 - Tax in respect of voluntarily disclosed income not refundable
Clause 187 - Undisclosed income declared not to be treated as benami transaction in certain cases
Clause 186 - Undisclosed income declared not to affect finality of completed assessments
Clause 185 - Undisclosed income declared not to be included in total income
Clause 184 - Time for payment of tax
Clause 182 - Penalty
Clause 181 - Charge of tax and surcharge
Clause 180 - Declaration of undisclosed income
Clause 179 - Definitions
Clause 178 - Short title and commencement
Clause 163 - Collection and recovery of equalisation levy
Clause 162 - Charge of equalisation levy
Clause 161 - Definitions
Clause 160 - Extent, commencement and application
Clause 159 - Infrastructure Cess
Clause 158 - Krishi Kalyan Cess
Clause 157 - Amendment of notification issued under section 93A of Finance Act, 1994
Clause 156 - Insertion of new sections 101, 102 and 103- Special provision for exemption in certain cases relating to construction of canal, dam, etc- Special provision for exemption in certain cases relating to construction of Government buildings- Speci
Clause 155 - Amendment of section 93A
Clause 154 - Amendment of section 91
Clause 153 - Amendment of section 90
Clause 152 - Amendment of section 89
Clause 151 - Amendment of section 78A
Clause 150 - Amendment of section 75
Clause 149 - Amendment of section 73
Clause 148 - Amendment of section 67A
Clause 147 - Amendment of section 66E
Clause 146 - Amendment of section 66D
Clause 145 - Amendment of section 65B
Clause 144 - Amendment of Second Schedule
Clause 143 - Amendment of First Schedule
Clause 142 - Amendment of Third Schedule
Clause 141 - Amendment of section 37B
Clause 140 - Amendment of section 11A
Clause 139 - Amendment of section 5A
Clause 138 - Amendment of First Schedule
Clause 137 - Omission of section 8C
Clause 136 - Amendment of notifications issued under section 25 of Act 52 of 1962
Clause 135 - Amendment of section 156
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