Tax
Jharkhand High Court Quashes Proceedings U/S 276B Against The Petitioner Who Failed To Deposit The TDS Amount
The Jharkhand High Court has quashed the criminal proceedings against a petitioner who had been facing charges under Sections 276B and 278B of the Income Tax Act, 1961. The petitioner's firm had allegedly failed to deposit the Tax Deducted at Source (TDS) amount with the Income Tax Department in accordance with the provisions of the Income Tax Act.The petitioner had filed a plea seeking...
DPIIT Notifies Quality Control Order For Cast Iron Products, Solar DC Cables, And Fire Survival Cables
The Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry, has introduced a comprehensive Quality Control OrderQuality Control Order(QCO) for 'Cast Iron Products,' slated to take effect six months from today, following the date of the notification.The newly instituted Cast Iron Products (Quality Control) Order, 2023 encompasses a spectrum of...
Himachal Pradesh High Court Quashes Revision Petition Against Nokia On Differential Tax Amount On Sale Of Mobile Charger
The Himachal Pradesh High Court has quashed the revision petition filed by the Department against Nokia on the differential tax amount on the sale of mobile chargers.The bench of Justice Tarlok Singh Chauhan and Justice Satyen Vaidya has observed that the clear mandate of law is that the Court can exercise revisional jurisdiction under Section 48 of the Act only against the orders passed by...
Licence Fee Received By Cricket Australia For Live And Non-Live Transmissions Rights Can’t Be Taxed As Royalty: ITAT
The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) has held that Cricket Australia is not liable to pay ‘royalty’ on licence fees received for live and non-live transmission rights.The bench of Kul Bharat (Judicial Member) and M. Balaganesh (Accountant Member) has relied on the decision of the Co-ordinate Bench of the Tribunal in the case of Fox Network Group Singapore Pte. Ltd....
CBIC Extends Due Dates For Filing Returns For Taxpayers In Manipur
The Central Board of Indirect Taxes and Customs (CBIC) has extended the due dates for filing various returns for taxpayers in Manipur.The Board has extended the due dates for filing GSTR-1, GSTR-3B, and GSTR-7 for the period of April, May, June and July 2023 for taxpayers whose principal place of business is in the State of Manipur, till August 25, 2023.Form GSTR-1 is a...
Income Tax Act | Annulled Penalty Order Implies Absence Of Concealment, S.276C Proceedings Automatically Quashed: Jharkhand High Court
The Jharkhand High Court has recently held that when a penalty order is set aside, it implies the absence of concealment of income, leading to the automatic quashing of criminal proceedings under Section 276C(1) of the Income Tax Act.Justice Sanjay Kumar Dwivedi added that quashing the penalty order undermines the foundational basis for the criminal case, as criminal intent was deemed absent...
AO Bound To Grant Advance Tax Credit That Was Left By The Taxpayer: ITAT
The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) has held that the AO is bound to grant the credit of advance tax that was left by the taxpayer.The bench of Sandeep Singh Karhail (Judicial Member) and B.R. Baskaran (Accountant Member) has observed that the inadvertence on the part of the assessee to claim the credit for the advance tax while filing its return of income or filing...
Revamped Income Tax Department Website Launched To Enhance Taxpayer Experience
The Income Tax Department has unveiled its newly revamped national website, www.incometaxindia.gov.in, with an aim to elevate the taxpayer experience and embrace technological advancements. The inauguration of the upgraded website took place at the 'Chintan Shivir,' organized by the Directorate of Income Tax (Systems) in Udaipur.The inauguration ceremony was graced by the presence of Shri....
Ministry Of Commerce & Industry Implements Stricter Measures To Prevent Misclassification Of Rice Exports
In an effort to curb the misclassification of rice exports and ensure transparency in the international trade of rice, the Ministry of Commerce & Industry has introduced additional safeguards for the export of Basmati rice. The move comes as part of the government's ongoing efforts to check domestic prices and secure food supplies within the country. The announcement comes after...
Ministry of Commerce and Industry Issues Quality Control Order for Domestic Gas Stoves
The Ministry of Commerce and Industry, through its Department for Promotion of Industry and Internal Trade (DPIIT), has taken a decisive step towards ensuring consumer safety and product quality by announcing the "Domestic Gas Stoves for use with Piped Natural Gas (Quality Control) Order, 2023."This move comes under the authority granted by the Bureau of Indian Standards Act, 2016, and aims...
Ministry Of Commerce And Industry Notifies Quality Control Order For Cookware And Utensils
The Ministry of Commerce and Industry has taken a substantial step towards enhancing consumer safety by unveiling the Cookware and Utensils (Quality Control) Order 2023. This order, designed to regulate the quality of cookware and utensils, enforces adherence to specific Indian Standards, introduces certification and enforcement mechanisms, and establishes penalties for non-compliance.Under...
No Nutritional Info On Label Except Energy Content: FSSAI Announces Crucial Amendment To Alcoholic Beverages Regulations
The Food Safety and Standards Authority of India (FSSAI) has unveiled a pivotal amendment to the Alcoholic Beverages Regulations, a move that is set to reshape the landscape of the industry. The amendment, which was initially proposed on May 17, 2022, in accordance with section 92 of the Food Safety and Standards Act, 2006, has now reached its final form after careful consideration of...