PMLA-Property held outside country, amended provisions effective from 19th April, 2018

PMLA-Property held outside country, amended provisions effective from 19th April, 2018 The Finance Act has made an important amendment in the definition of “proceeds of crime” as appearing in Prevention of Money Laundering Act, 2002. Previously, the definition was amended in 2015 to include “property equivalent held within the country” in case proceeds of crime […]

 

AO can not enhance assessment on an order of remand by ITAT-High Court

Author: | Categories: High Courts, Income Tax No comments | 153 views
AO can not enhance assessment on an order of remand by ITAT. The Tribunal has no power to enhance assessment in appeal-High Court ABCAUS Case Law Citation: ABCAUS 2291 (2018) (04) HC The appellant assessee had filed the instant appeal was filed u/s 260A of the Income Tax Act, 1961 (the Act) was directed against […]

 

CBDT warns salaried taxpayers for under-reporting of income or claim inflated deductions

Author: | Categories: Income Tax No comments | 177 views
CBDT warns salaried taxpayers for under-reporting of income or inflate deductions Centralized Processing Center, Bengaluru Income Tax Department Advisory Bengaluru, 16th April, 2018 Sub: Cautionary Advisory on Reports of tax evasion by under-reporting income or inflating deductions/Exemptions by salaried taxpayers. The Income Tax Department has from time to time issued advertisements requesting taxpayers to report their […]

 

Roll out of intra-State e-way bills in 6 more states from 20th April 2018

Author: | Categories: GST No comments | 228 views
Roll out of intra-State e-way bills in 6 more states from 20th April 2018 As per the decision of the GST Council, e-Way Bill system for all inter-State movement of goods has been rolled out from 01st April, 2018. As on 15th April, 2018, e-Way Bill system for intra-State movement of goods has been rolled out in the […]

 

Central Goods and Services Tax 4th Amendment Rules 2018-Notification

Author: | Categories: GST No comments | 220 views
Central Goods and Services Tax (Fourth Amendment) Rules 2018-Notification Government of India Ministry of Finance Department of Revenue Central Board of Indirect Taxes and Customs Notification No. 21/2018 – Central Tax New Delhi, the 18th April, 2018 G.S.R……(E).- In exercise of the powers conferred by section 164 of the Central Goods and Services Tax Act, […]

 

UP Govt has no power to require TDF for inter state goods movement, seizure for want of TDF declared illegal

Author: | Categories: GST, High Courts No comments | 145 views
UP Govt has no power to require TDF for inter state goods movement. Seizure of vehicle for want of TDF was illegal as E-way Bill System was not notified by Central Govt.-Allahabad High Court UP Govt had no power to require TDF for inter state goods movement. Seizure of vehicle for want of TDF was illegal […]

 

Misbehaviour and harassment by Sr. Officers of the Income Tax Department. Advisory

Author: | Categories: Income Tax No comments | 305 views
Misbehaviour and harassment by Sr. Officers of the Income Tax Department-Advisory  Principal Director General of Income Tax (Administration & TPS) has issued an advisory to all Pr. Chief Commissioners of Income Tax on the issue of complaints received regarding misbehaviour by Senior Officers of the Department. Misbehaviour and high handedness by Sr. Officers of the […]