Letter of Allotment can not be considered as agreement to sale by any stretch of imagination. ITAT upheld addition u/s 56(2)(vii)(b) of the Income Tax Act.  ABCAUS Case Law Citation: ABCAUS 3042 (2019) (07) ITAT Important Case Laws Cited/relied upon by the parties: Babulal Shambhubhai Rakholia v. ACIT …

RBI opens third office of the Ombudsman at New Delhi As announced in the Monetary Policy Statement of December 5, 2018, the Reserve Bank of India (RBI) had launched the Ombudsman Scheme for Digital Transactions (OSDT) on January 31, 2019. The Reserve Bank has set up a third …

Tax free retail outlets beyond immigration counters making tax free supply to outgoing international tourist can claim refund of GST paid on inward supply  MINISTRY OF FINANCE(Department of Revenue) Notification No. 11 /2019–Central Tax (Rate) New Delhi, the 29th June, 2019 G.S.R. 460(E).—In exercise of the powers conferred …

Addition made for not explaining frequent cash withdrawal and deposits in bank deleted as addition solely based upon suspicion not sustainable ABCAUS Case Law Citation: ABCAUS 3041 (2019) (06) ITAT The instant appeal was filed by the assessee against the order of CIT(A) in sustaining addition of cash …

Failure to comply u/s 194C(7) does not resurrect liability u/s 194C(6),  Section 194C(7) and section 194C(6) are independent to each other  ABCAUS Case Law Citation: ABCAUS 3040 (2019) (06) ITAT Important Case Laws Cited/relied upon by the parties: ACIT vs Mohammed Suhail The instant appeal was filed by …

TDS notifications not apply to conseravncy and waste management service to a municipality-AAR ABCAUS Case Law Citation: ABCAUS 3039 (2019) (06) AAR The Applicant was providing conservancy/solid waste management service to the Municipal Corporation (MC), which had been merged with another Municipal Corporation in terms of State Government …