Month: August 2019
CBDT rebuts incorrect reports about Income Tax notices to Durga Puja Committees in Kolkata Press Release There have been reports in the media about Income Tax notices being issued to Durga Puja Committees in Kolkata recently. The reports also mention that Income Tax notices were sent to the …
All pending INC-12 SRNs for new section 8 Company incorporation at RoCs to be Rejected on 15th August 2019 due to Simplification of process of Incorporation of Section 8 Companies – MCA Advisory (1) With a view to simplify the process for incorporating Section 8 Companies, requirement of …
Make CSR expenditure tax deductible recommends High Level Committee on CSR in its report submitted to Government. Shri Injeti Srinivas, Secretary (Corporate Affairs), today presented the Report of the High Level Committee on CSR to the Union Minister of Finance and Corporate Affairs, Smt. Nirmala Sitharaman. …
Section 292BB does not save complete absence of notice. Section seeks to cure only infirmities in service of notice – Supreme Court ABCAUS Case Law Citation:ABCAUS 3120 (2019) (08) SC Important case law relied upon by the parties:ACIT v. Hotel Blue Moon’ (2010) 321 ITR 362 The instant …
Transfer pricing adjustment without reference to TPO. Supreme Court upholds that AO breached mandatory Instruction but restored appeal to AO ABCAUS Case Law Citation:ABCAUS 3119 (2019) (08) SC Important case law relied upon by the parties: The instant Appeal by Special Leave was made by the Revenue to …
Penalty notice u/s 271AAB without specifying ground and default in the show cause notice u/s 274 held not valid – ITAT quashed the order passed ABCAUS Case Law Citation:ABCAUS 3118 (2019) (08) ITAT Important case law relied upon by the parties:CIT vs. Manjunatha Cotton & Ginning Factory 359 …
Penalty notice u/s 271(1)(c) without specifying specific charge quashed. The decisions relied by Revenue rejected by the Tribunal ABCAUS Case Law Citation:ABCAUS 3117 (2019) (08) ITAT Important case law relied upon by the parties:Jagdamba Prasad Gupta, Delhi vs. ACITSundaram Finance Ltd., vs. CIT 403 ITR 407 (Mad.) …
Applicability of GST on partially completed flats having identified customers before/after GST regime or where no customers are identified – AAR Ruling ABCAUS Case Law Citation:ABCAUS 3116 (2019) (08) AAR The Applicant was a company incorporated under the Companies Act 1956 and is registered under the Goods and …
GST applicability on work executed under JDA on land owner’s portion on the value at the time of transfer of possession of land owner’s’ portion of flats-AAR Ruling ABCAUS Case Law Citation:ABCAUS 3115 (2019) (08) AAR Important case law relied upon by the parties:Vaswani Estates Developers Pvt. Ltd …
Application of correct limb of penalty u/s 271(1)(c) is a question of fact and not a question of law. ITAT dismissed issue raised before it for the first time ABCAUS Case Law Citation:ABCAUS 3114 (2019) (08) ITAT Important case law relied upon by the parties:Sundaram Finance 403 ITR …