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Merely for the reason of no VAT registration of the vendor, the genuineness of payment cannot be doubted – ITAT In a recent judgment, ITAT Hyderabad has allowed expenditure towards cost of improvements to house property observing that merely for the reason of no VAT registration for the …
Re-assessment order upheld despite where no addition was made for reasons on the basis of which the reassessment was initiated. In a recent judgment, Hon’ble Guwahati High Court has upheld the re-assessment order where no addition was made in regard to the reasons on the basis of which …
Even if no response is filed to notices u/s 61 and 73 of GST Act, it is incumbent on the GST Authorities to pass an order in compliance of provisions of Section 75(6) – High Court In a recent judgment, Hon’ble Allahabad High Court has held that even …
CBDT notifies 10 Year Zero Coupon Bond of Power Finance Corporation Ltd. Clause (48) of section 2 of the Income-tax Act,1961 authorises the Central Government to notify a Zero Coupon Bond. Further Rule 8B of Income Tax Rules lays down Guidelines for notification of zero coupon bond. The …
When challan was not duly filled along with goods sent for job worker, detention and seizure of goods u/s 129 of the GST Act was not arbitrary. In a recent judgment, Hon’ble Allahabad High Court has held that when various descriptions as required under Rule 55 were not …
Section 40A(3) not applicable in respect of expenditure on fuel petrol paid to dealers of Petroleum companies. Directors remuneration also allowed as genuineness was not in question. In a recent judgment, ITAT Cochin has held that section 40A(3) of the Act has no application in respect of cash …
When CoC accepts a resolution plan and all mandatory requirements complied with, judicial review cannot be extended to analyse and look into the dissatisfaction evinced by any particular creditor or stakeholder – NCLAT In a recent judgment, NCLAT Delhi has held that it is the commercial wisdom of …
Where audit u/s 65 has already been conducted by GST authorities, there can not also a further scrutiny u/s 61 – High Court In a recent judgment, Hon’ble High Court of Orrisa has held where audit u/s 65 has already been conducted by State GST authorities, there can …
AO directed to allow exemption u/s 54 if assessee was entitled to it where assessee claimed deduction u/s 54F and was not entitled to it. In a recent judgment, ITAT Jaipur directed Assessing Officer to allow alternative claim of exemption u/s 54 of the Act instead of section …
Notice u/s 148 sent to some incorrect e-mail ID held as non-est and bad in law. ITAT quashed re-assessment order. In a recent judgment, ITAT Delhi held that notice u/s 148 sent to some incorrect e-mail ID was non-est and bad in law. ITAT quashed re-assessment order. ABCAUS …
