RBI

Bank credit rises by 12.51%, deposits by 8.07%
Bank credit rose by 12.51 per cent to Rs 89.82 lakh crore in the fortnight ended September 28, while the deposits grew by 8.07 per cent to Rs 117.99 lakh crore, according the RBI data.
 13-Oct-2018  

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 MoF

Centre to urge PSBs to ease lending to exporters
Amiti Sen Responding to the crisis faced by exporters due to a sharp dip in credit flow to the sector, the Finance Ministry has urged public sector banks (PSBs) to loosen their purse strings.
 13-Oct-2018  

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 MoF

Honest, consistent taxpayers to be feted by govt; policy proposal in works
The government is working on an ambitious policy proposal to “facilitate” honest and consistent taxpayers in availing a variety of public services and tax-related works on priority, officials said Sun
 13-Oct-2018  

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 GST

Complimentary IPL tickets will attract GST, rules AAR
Complimentary tickets for Indian Premier League (IPL) matches will attract GST, said the Authority for Advance Rulings (AAR) of Punjab in a matter involving franchisee Kings XI Punjab and GST
 13-Oct-2018  

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 IMF

India urges IMF to implement quota reforms
Stressing on the need to strengthen institutions like IMF to tackle financial crisis, Economic Affairs Secretary SC Garg called for quota reforms so that share of emerging nations increases in line wi
 13-Oct-2018  

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 SEBI

Sebi likely to approve commodity trading by foreign entities soon
With an aim to deepen the commodity derivatives market, regulator Sebis board is likely to approve a proposal to allow trading in this segment by foreign entities with exposure to the Indian physical
 12-Oct-2018  

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 SEBI

Sebi eases norms for issuance of debt securities, removes security deposit
To ease the cost and compliance burden on the issuer of securities, markets regulator Sebi has done away with the requirement of 1 per cent security deposits with exchanges for public issuance of debt
 12-Oct-2018  

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 Stock Exchange

NSE enters commodity derivatives trading biz with gold and silver contracts
India’s largest stock exchange the National Stock Exchange (NSE) has entered the commodity derivatives trading business with the launch of gold (1 kg and 100 grams) and silver contracts (30 kg).
 12-Oct-2018  

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Latest Book

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Manjira Machine Builders (P.) Ltd., In re

  section 97(1) of TGST Act,2017   Service Tax

M/s. Manjira Machine Builders (P) Ltd , Flat No. 307 & 308 , Bhanu Enclave , Sundernagar, Hyderabad-500038 has filed an application in Form GST ARA-01under section 97(1) of TGST Act,2017 read…

Sanjaykumar Footermal Jain v. ITO

  Section 48   Direct Taxes

Where assessee had sold a godown, the period of 36 months of holding of the godown was to be reckoned from the date on which the purchase agreement was duly stamped and not the date on…

Asstt. CIT v. Apurva Mahesh Shah

  Section 48   Direct Taxes

Portfolio management fees and performance linked fees were paid by assessee to his portfolio manager, towards service charges for making investments of his funds and managing portfolio of…

Banco Products (India) Ltd. v. Dy. CIT

  Section 35(2AB)   Direct Taxes

Claim for deduction under section 35(2AB) could not be defeated on the ground that approval from prescribed authority was granted in the year subsequent to the financial year in which the…

Essel Mining & Industries Ltd. v. DCIT

  Section 14A read with rule 8D   Direct Taxes

Where assessee was having sufficient own funds at its disposal for the purpose of making investments, it could be held that no borrowed funds were utilized for making investments. Hence, there…

M.D. Mohta, In re

  section 97(2) (a) of the CGST/WBGST Acts, 2017   Service Tax

The Applicant, stated to be a Manufacturer of the item Rakhi, is seeking a Ruling on classification of Rakhi, on whether exemption under Notification No. 2/2017-Central Tax (Rate) dated 28-6-2017 (1126-…

CIT v. S. Goyanka Lime & Chemicals Ltd

  Section 147   Direct Taxes

Where JCDT had accorded sanction under section 151 for issue of reassessment notice under section 148 in a mechanical manner without application of his mind in relation to objectivity of the…

Gurinder Singh Dhillon v. ITO

  Section 250(6)   Direct Taxes

Where assessee, though filed appeal manually within time, but failed to file the same in electronic form within time due to hardship because of newly introduced e-filing procedure, the CIT(A)…

Jaison S. Panakkal v. Pr. Chief CIT & Anr.

  Section 179   Direct Taxes

Jurisdiction to commence proceedings against the director of a delinquent company for recovery of tax dues of delinquent company would require the notice to director/former directors, itself…

CIT v. Awadh Bihari Ram Lok Vikas Sansthan

  Section 12AA   Direct Taxes

Non-disposal of an application for registration, by granting or refusing registration, before the expiry of six months as provided under section 12AA(2) would not result in deemed grant of…

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