Month: February 2019
Startup Certification u/s 80-IAC & exemption u/s 56(2)(viib) of Income Tax Act- Govt. amends Startup Rules MINISTRY OF COMMERCE AND INDUSTRY(Department for Promotion of Industry and Internal Trade) NOTIFICATION New Delhi, the 19th February, 2019 G.S.R. 127(E).— This notification is being issued in supersession of the Gazette Notification …
Partners remuneration as allowable u/s 40(b)(v) in profit-sharing ratio. ITAT upheld the remuneration clause in the partnership deed ABCAUS Case Law Citation: ABCAUS 2790 (2019) (02) ITAT Important Case Laws Cited/relied upon by the parties Sood Brij & Associate Vs. CIT (2010)15 taxmnn.com 76 (Delhi) CIT vs. Vaish …
Clandestine removal of goods without payment of excise duty can not be alleged on the basis of bilties/GRs recovered from transporters without conducting any investigation. – HC ABCAUS Case Law Citation: ABCAUS 2789 (2019) (02) HC The respondent-assessee was a company registered under the Indian Companies Act and was …
200 % Custom Duty imposed on All goods originating in or imported from Pakistan after Pulwama terror attack. MINISTRY OF FINANCE(Department of Revenue) Notification No. 05/2019-Customs New Delhi, the 16th February, 2019 G.S.R. 124(E).—WHEREAS, the Central Government is satisfied that the import duty leviable on all goods originating in …
Question of ITC in Building Construction Material such as Angle, Cement, H.R. Sheets, Channel, Cylinder etc. under UPVAT – High Court admits Petition ABCAUS Case Law Citation:ABCAUS 2788 (2019) (02) HC The respondent company had claimed Input Tax Credit (I.T.C.) in regard to the Building Construction Material such …
Payment of IGST on supply of warehoused goods while deposited in a customs bonded warehouse for the period July, 2017 to March, 2018 – Clarification Circular No. 91/10/2019-GST F. No. CBEC-20/16/04/2018 – GST Government of India Ministry of Finance Department of Revenue Central Board of Indirect Taxes and …
Specifying place of supply and name of State in the tax invoice mandatory for All registered persons in the course of inter-State trade or commerce Circular No. 90/09/2019-GST F. No. CBEC-20/16/04/2018 – GST Government of India Ministry of Finance Department of Revenue Central Board of Indirect Taxes and …
Non reporting details of inter-State supplies to unregistered persons in Table 3.2 of FORM GSTR-3B and Table 7B of FORM GSTR-1 to attract penal action Circular No. 89/08/2019-GST F. No. CBEC-20/16/04/2018 – GSTGovernment of IndiaMinistry of FinanceDepartment of RevenueCentral Board of Indirect Taxes and CustomsGST Policy Wing*** New …
No penalty u/s 271A when assessee was under Bonafide belief that being covered under section 44AF he was not required to maintain books of account ABCAUS Case Law Citation: ABCAUS 2787 (2019) (02) ITAT Important Case Laws Cited/relied upon by the parties ACIT vs Anil Luthra (2001) 116 …
Rectification order u/s 154 revising NP rate on the basis of previous year’s chart was beyond the scope of rectification of mistake and amounted to change of the decision – ITAT ABCAUS Case Law Citation: ABCAUS 2786 (2019) (02) ITAT The assessee had challeneged the rectification order passed …