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Audits of businesses under the indirect tax regime from this financial year are jointly conducted by Central and state goods and services tax (GST) officials, a relief for taxpayers since it will remove duplicate notices and dual investigations. According to industry assessments, there are approximately 11,000 such cases of dual investigation by both the central […]
Finding that the taxpayer operates seasonal trade in hosiery items duly backed by documentary proof, which AO investigated accepting the said transactions and resultant profit has been carried to tax, the Chandigarh ITAT said that the PCIT cannot be allowed to invoke his jurisdiction under section 263 only because he assumes that there is the […]
The Directorate General of Goods and Services Tax Intelligence (DGGI) has commenced an investigation into tax evasion of ₹850 crores in 2020-21 and 2021-22 through certain large commercial coaching centres and can issue show cause notices to them, expressed officials. The scrutiny is concerned with the misdeclaration of the number of registrations and not paying […]
The ruling by the Bombay High Court clarifies that it’s impermissible to levy taxes on an amount that the assessee hasn’t accrued or received, based solely on the assumption that the Small Causes Court might eventually favour the appellant or assessee by ordering such a sum. Justice G.S. Kulkarni and Justice Jitendra Jain noted that […]
The CESTAT in the case of M/s. Piyush Sharma v. Commissioner of CGST & CX, Patna-I [Service Tax Appeal No.75856 of 2021 dated October 17, 2023] has ruled that the service tax claim, which relies on Form 26AS from the Income Tax Department without any scrutiny, is incorrect. Key Facts of the Case M/s. Piyush […]
The Madras High Court has instructed the state tax officer to probe the misuse of login IDs linked to potential tax evasion by unidentified individuals. Justice C. Saravanan’s bench noted the petitioner’s claim of a third party exploiting their login ID to file returns and funnel a substantial input tax credit to this unauthorized entity. […]
Following investigations into mobile phone manufacturers, laptop companies have come under scrutiny by tax authorities. According to credible sources, both income tax and indirect tax enforcement units are accusing laptop companies of evading taxes. Insiders familiar with the matter have revealed that intelligence agencies, including the Directorate of Revenue Intelligence (DRI), Directorate General of GST […]
The receipts from the provision of background screening and investigation services to clients in India are not royalties or fees for technical services (FTS), ruled by the Delhi Bench of the Income Tax Appellate Tribunal (ITAT). There have been no technical skills or knowledge or consultancy or make available any technical knowledge, experience, skill, know-how, […]
The Hon’ble Gujarat High Court in Vipulchandra Pursottamdas Mahant Prop of Vaibhavi Construction v. Assistant Commissioner of State Tax [R/Special Civil Application No. 9488 of 2023 dated June 22, 2023] said the taxpayer to co-operate with the search made via DGGI and further required Assistant Commissioner of State Tax and State Tax Officer 2 to […]
