Earlier, the Central Board of Excise and Customs (CBEC) had taken an initiative to observe a Refund Sanction Fortnight from 15th March to 29th March, 2018 on an all India scale. Administrative and logistical arrangements were made in order to ensure that maximum number of pending refund claims are settled during the said fortnight. As per the reports from field offices of CBEC, most of the refund claims which were pending due to errors committed while filing the GST returns and where exporters came forward with requisite documentation,have been settled. However, the Government of India is keen to ensure that all the exporters get their refunds sanctioned at the earliest and, therefore, requests the exporters to avail this opportunity to settle their refund claims if not done as yet.
Assessee is eligible for claiming deduction under Chapter VIA under Section 80IE of the Income Tax Act 1961 on the…
Assessee could not be faulted for showing only cash in hand and bank balance as capital following presumptive taxation when…
Sale of flats in a real estate project held capital gains as intention of the assesee was to hold that…
Merely because interest liability was recognised by journal entries at the close of the year, it does not make expenditure…
Addition for cash deposits in bank account which were immediately transferred to other accounts deleted in absence any enquiry by…
ITAT disallows 6% for alleged bogus purchases as purchases from unregistered dealers could not be ruled out. In a recent…