Author: administrator
Penalty u/s 271(1)(c) deleted as addition for bogus purchases was based on estimation and assesee’s conduct was not found contumacious ABCAUS Case Law Citation:ABCAUS 3011 (2019) (06) ITAT Important Case Laws Cited/relied upon by the parties:Hindustan Steel Vs. State of Orissa (83 ITR 26) Penalty u/s 271(1)(c) deleted …
Provision of section 68 applicable even if business not commenced but the sum is credited in the books of account of the assessee ABCAUS Case Law Citation: ABCAUS 3010 (2019) (06) ITAT Important Case Laws Cited/relied upon by the parties: CIT V Bharat Engineering and Cost Co 83 …
Disaster management, including relief, rehabilitation and reconstruction activities covered under CSR activities u/s 135 of Companies Act 2013 MINISTRY OF CORPORATE AFFAIRS NOTIFICATION New Delhi, the 30th May, 2019 G.S.R.390(E).- In exercise of the powers conferred by sub-section (1) of section 467 of the Companies Act , 2013 …
Tenancy rights not intangible assets, no question of allowing depreciation on it – ITAT. These rights not covered as “any other business or commercial right” ABCAUS Case Law Citation: ABCAUS 3009 (2019) (06) ITAT Important Case Laws Cited/relied upon by the parties: M.M. Nissim & Co. vs. ACIT …
Income Tax Department strikes again in J&K Region covering 8 premises in Srinagar and 1 each at Bangalore and Delhi. Undisclosed income of 55 crores found Income Tax Department strikes again in J&K Region The Income Tax Department conducted search and seizure operations today on a prominent business group …
No addition warranted for bogus purchases where GP rate was better than the average GP rate declared by assessee for earlier years ABCAUS Case Law Citation: ABCAUS 3008 (2019) (06) ITAT In the instant case, the revenue had challenged the deletion of the addition by the CIT(A) in …
CBDT reverts four Joint Commissioners of Income Tax back to their substantive post i.e. DCIT in view of pending disciplinary/vigilance cases against them, F. No. A-32012/5/2019-Ad.VIGovernment of India Ministry of Finance Department of Revenue(Central Board of Direct Taxes)* * * * * North Block New DelhiNew Delhi, the …
ITC of GST paid on purchase of motor vehicles for supplying rent-a-cab service not admissible in terms of section 17(5)(b)(i) of the GST Act ABCAUS Case Law Citation: ABCAUS 3007 (2019) (06) AAR The Applicant was supplying cabs on a rental basis. He sought a ruling from the …
Notification on TDS under GST provisions not applicable on exempt supplies–AAR. Applicant making exempt supply to Municipal Corporation was not covered ABCAUS Case Law Citation: ABCAUS 3006 (2019) (06) AAR The Applicant was providing conservancy/solid waste management service to the Conservancy Department of the Municipal Corporation (MC) which …
Transition plan to the new GST Return. From January, 2020 onwards, all taxpayers shall be filing FORM GST RET-01 and FORM GSTR-3B shall be completely phased out The GST Council in its 31st meeting decided that a new GST return system will be introduced to facilitate taxpayers. As per a press release …
