Home Highlights February 2019 Year 2019 This

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1. Maintenance of records for 5 years - The five year period to be reckoned from the last day of the financial year concerned or not - Revision proceedings based of records...

2. Re-assessment - Time limitation for notices issued - period of limitation enhanced from 5 years to 6 years - Prospective or retrospective amendment - 5 year period...

3. Addition on account of 5% of labour expenses - Before Tribunal, the assessee has neither given any evidence nor furnished the details of number of labourers, casual...

4. TDS u/s 194C - addition u/s 40(a)(ia) - Payments made to Calcutta Dock Labour Board - The High Court observed that the employment of dock workers and their conditions of...

5. How long should a Bank keep records - Violation of the provisions of the FERA - Undisputedly, no such order has been placed on record which required the...

6. The ITAT Chennai held that the denial of registration u/s 80G(5) to an old trust was unjustified as the trust existed before the new registration regime. The trust...

7. Initiation of CIRP - NCLT rejected the Section 7 Application - There being no material brought on the record to indicate that the amount of Rs.2.6 Crore was advanced by...

8. Extenuation of period of Limitation - Period for reopening of an assessment was already expired - extending the period of limitation from 5 years to 6 years to be not...

9. Repayment schedule of deferred tax scheme after conversion of sales tax scheme to value added tax (VAT) scheme -The repayment schedule is 5 years from the expiry of...

10. Extended benefit of exemption u/s 10A - assessee enjoyed the benefit of 5 years from 1993-94 to 1997-98 - amended provision came into force on 1-4-1999 - benefit of...

11. New Wage Code Bill - The salient features of the Code on Wages, 2019

12. Amends notification No 14/2006-Customs in order to change the classification of other dyed fabrics of nylon from “5407 42 00” to “5407 42”

13. Block assessment u/s 158BC/158BE - Period of limitation - If the submission on behalf of the respective assessees that the date of the last authorization is to be...

14. Condonation of delay by applying Section 5 of the Limitation Act - Section 378(5) of CrPC - In the present case, there is no such exclusionary provision under Section...

15. Indo-UK DTAA - neither under Article 5(2)(k) nor under Article 5(4) read with 5(5), the assessee has a PE in India and, therefore, the distribution fee received by the...