Powerd By SAG INFOTECH
Notifications can be turned of anytime from browser settings
The bench of Justice Yashwant Varma and Justice Purushaindra Kumar Kaurav noted that clause (a) of Explanation 2 of Section 263 of the Act introduces a deeming fiction to the effect that the order passed via the AO will be acknowledged wrong and prejudicial to the interests of the revenue if the order is passed […]
The Income Tax Appellate Tribunal (ITAT), the Chennai bench instructed to adjudicate on the basis of non-verification of further evidence by the Assessing Officer (AO). The assessee filed ITR (Income Tax Return) for the AY 2015-16 on 30/11/2015 showing NIL income and the loss of ₹.7,87,45,865/- in the current year. The AO observed that the […]
The taxpayer has filed the appeal towards the Income Tax Appellate Tribunal ( ITAT ), Visakhapatnam Bench, which ruled that the satisfaction is to be recorded by the Assessing Officer (AO), prior to the issue of a notice under section 153C of the Income Tax Act, 1961. The aforesaid observation was made by the tribunal […]
Jharkhand High Court on Tuesday gave its verdict saying that though the interest liability under section 5 of the Central Goods and Service Tax (CGST) 2017 is computed automatically, the same shall be levied only after the completion of the adjudication proceedings valid under CGST Act 2017. The applicant of the case is a partnership […]
The Delhi bench of the Income Tax Appellate Tribunal (ITAT) has determined that the Fee for Technical Service (FTS) and interest income received from the joint venture Indian company must be taxed by the directive issued by the Tax Deduction at Source Officer, as per Section 195 of the Income Tax Act, 1961. The taxpayer […]
Towards the taxpayer’s case the assessing officer who posses valid jurisdiction will record reasons u/s 148(2) for reassessment proceedings unless the issue of notice u/s 148 is not valid. Beneath section 148 of the act reopening notice invalid if the officer who has given the notice varied from the officer who had recorded the causes […]
The Central Board of Direct Taxes (CBDT) has said that an income tax survey will be conducted to collect information for scrutiny by Tax Deducted at Source (TDS) directorate only after approval from the Principal Chief Commissioner or the Chief Commissioner level officer. The board by releasing directed the officers that where any survey action […]
Recently, the companies whose tax payments do not match with the e-way bills generated have been asked for clarification by the GST officers. The revenue authorities have found this tax evasion while matching outward good supplies with the data, as reported from the sources.
The old issue of assesses control has been replied by The Indian Revenue Service (Customs and Central Excise) officers’ association who has demanded the council to give the authority of assessing all the taxpayers under the turnover of lesser than 1.5 crores to the centre.
