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TDS deposited before filing ITR is allowable u/s 43B despite assessee following cash method of accounting ABCAUS Case Law Citation:ABCAUS 3249 (2020) (02) ITAT Important case law relied upon by the parties:Associated Law Advisers Vs. ACITCommissioner of Income Tax XIII Vs. Naresh KumarCommissioner of Income Tax Vs. Rajinder …
Car depreciation & insurance allowable irrespective of any personal use by the assessee ABCAUS Case Law Citation:ABCAUS 3248 (2020) (02) ITAT In the instant case, appeal had been preferred by the assessee against the order of the Commissioner of Income Tax (Appeals) in inter alia confirming the addition …
Restructuring of advances for Projects under Implementation without being classified as NPA. RBI amends Prudential Norms on Asset Classification RBI in order to harmonise the guidelines for deferment of date of commencement of commercial operations for projects in non-infrastructure and commercial real estate sectors, revised the guidelines for …
Additional GST / District level details in be under Shipping Bill (Electronic Integrated Declaration and Paperless Processing) Regulations 2019 Circular No.09/2020-Customs F. No.450/108/2017(Pt)-Cus IVGovernment of IndiaMinistry of FinanceDepartment of Revenue(Central Board of Indirect Taxes & Customs)***** Room No.229A, North Block, New Delhi.New Delhi, dated the 5th of February, …
Extension of Pilot on Transhipment of Export Cargo from Bangladesh to third countries through Land Customs Stations (LCSs) to Kolkata Port / Airport, in containers or closed bodied trucks CBIC Vide Circular No. 08/2020-Customs dated 5th February, 2020 has decided to further extend the facility under the Circular …
Valuation of imported second hand machinery. Inspection/ appraisement Reports by Chartered Engineers/equivalent based on the country of sale acceptable to Custom Circular No.07/2020-Customs F. No. 467/34/2006-Cus.VGovernment of India Ministry of Finance Department of RevenueCentral Board of Indirect Taxes & Customs****** North Block, New DelhiDated the 05th February , …
Extension of time limit for submitting FORM GST TRAN-1 to 31.03.2020 due to technical difficulties on common portal F.No. CBEC-20/06/17/2018-GST (Pt. I)Government of IndiaMinistry of Finance(Department of Revenue)*** New Delhi, the 7th February, 2020 Order No. 01/2020-GST Subject: Extension of time limit for submitting the declaration in FORM GST …
IRDA notifies obligatory cession for the financial year 2020-21 INSURANCE REGULATORY AND DEVELOPMENT AUTHORITY OF INDIA NOTIFICATION Hyderabad, the 3rd February, 2020 F. No. IRDAI/RI/1/167/2020.—In exercise of the powers conferred by Sub-section (2) and (4) of the Section 101A of the Insurance Act, 1938, the Authority, after consultation …
Unutilised MODVAT credit of Excise Duty not allowable u/s 43B. Paying cost of raw materials does not mean that assessee is liable to pay Excise Duty on such raw material/inputs ABCAUS Case Law Citation:ABCAUS 3247 (2020) (02) SC Important case law relied upon by the parties:Eicher Motors Ltd. and another versus Union of India and …
Penalty u/s 271B deleted. Books of Accounts not finalised due to TDS credit mismatch despite assessee made sincere attempts for its rectification and resignation of accountant ABCAUS Case Law Citation:ABCAUS 3246 (2020) (02) ITAT The assessee had filed an appeal against the order of Commissioner of Income Tax …