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Conversion of limited scrutiny to complete scrutiny is question of fact. High Court dismisses the writ as petitioner had a right to appeal against the assessment order The Petitioner assessee was aggrieved by the assessment order passed u/s 144 by converting limited scrutiny to complete scrutiny. The impugned …
Statistics of E-Way Bill generated between 1st to 22nd April 2018 A statistical report of E-Way Bill generated between 1st April 2018 to 22nd April 2018. A total of 1,84,03,041 E-Way Bills have been generated for taxpayers for the movement of goods across India. Maximum number of E-Way …
Requirement of e-Way Bill for “Bill To Ship To” model of supplies-Finance Ministry has clarified the issue regarding “Bill To Ship To” for e-Way Bill under CGST Rules, 2017 Issues regarding “Bill To Ship To” for e-Way Bill under CGST Rules, 2017 A number of representations have been …
Damages paid for violation of agreement to sell allowed as incurred in connection with the transfer of property for computing long term capital gains-High Court The question framed by the Hon’ble High Court was as to whether the ITAT, was correct in holding that the amount paid by …
Market value of shares quoted in stock exchange can not be taken as a basis for computing capital gains under Section 48 of the Income Tax Act ABCAUS Case Law Citation: ABCAUS 2297 (2018) (04) HC Important Case Laws Cited/relied upon by the parties K.P. Verghese versus Income …
The Fugitive Economic Offenders Ordinance 2018 has been promulgated by the President. The Ordinance shall come into force at once The Fugitive Economic Offenders Ordinance, 2018 (No. 1 of 2018) provides for measures to deter fugitive economic offenders from evading the process of law in India by staying …
No disallowance u/s 40A(3) even if aggregate payment exceeds Rs 20000 if payment is made in cash against different bills none exceeding Rs. 20,000/ ABCAUS Case Law Citation: ABCAUS 2296 (2018) (04) ITAT Prelude: Finance Act, 2008 made amendment to the provisions of sub-section (3) of section 40A …
Self-made vouchers would not make expenses not genuine unless they do not carry necessary details like address of the recipient or signature-ITAT deleted the adhoc disallowance. ABCAUS Case Law Citation: ABCAUS 2295 (2018) (04) ITAT The appellant assessee had challeneged the order passed by the Commissioner of Income …
AO obliged to give eligible deductions when making additions for income not disclosed in return of income-ITAT allowed 54F deduction for sale of property not disclosed in ITR ABCAUS Case Law Citation: ABCAUS 2294 (2018) (04) ITAT The appellant assessee had challeneged the order passed by the Commissioner of …
Question of source of purchase relevant only for year of purchase not sale. Bank deposits made out of property sold as POA was not unexplained-ITAT ABCAUS Case Law Citation: ABCAUS 2293 (2018) (04) ITAT The appellant assessee had challeneged the order passed by the Commissioner of Income Tax …
