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The Raipur Bench of the Income Tax Appellate Tribunal (ITAT) sets aside income tax reassessment completed without furnishing a copy of the reasons. The Tribunal found that the Commissioner of Income Tax (Appeals)[ CIT(A) ] had not regarded the adjournment request of the taxpayer as neither additional submission nor legal grounds / additional grounds assailed […]
On May 20, 2024, in the case of Excellentvision Technical Academy Pvt. Ltd. v. State of U.P. [Writ Tax No. 554 of 2023, the Allahabad High Court highlights the need for the Revenue Department to record reasons in INS-01 before initiating search proceedings under Section 67 of the Central Goods and Services Tax (CGST) Act, […]
In June the gross GST collection surged 8% to Rs 1.74 lakh crore. The government has stopped the official release of monthly GST collection data. Till now the gross Goods and Services Tax (GST) collection this fiscal (April-June) stood at ₹ 5.57 lakh crore, as per the report. The June collection is more compared to […]
The delay of 145 days in filing an appeal by the taxpayer on the ground that the taxpayers inadvertently did not get the orders sent via email, as many of these orders are going to spam folders, has been condoned by the Cuttack Bench of Income Tax Appellate Tribunal (ITAT). It has been noted by […]
GST obligation due to non-response to SCN: HC furnishes the opportunity to challenge tax demand on merits with a 10% pre-deposit The Madras HC in a ruling addressed a significant matter by engaging Yesem Marketing and the Deputy Commercial Tax Officer concerning Goods and Services Tax (GST) liability. Based on the allegation of the violation […]
The taxpayer has purchased agricultural land, which is outside the purpose of a capital asset; thus, the deeming provision u/s 56(2)(x) of the Income Tax Act cannot be invoked, Delhi Bench of Income Tax Appellate Tribunal (ITAT) mentioned. The bench of Sudhir Pareek (Judicial Member) and S.Rifaur Rahman (Accountant Member) has marked that the taxpayer […]
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) has ruled that submission of Form-67 is not obligatory to claim foreign tax credit (FTC). The bench of Sudhir Pareek (Judicial Member) and S. Rifaur Rahman (Accountant Member) has marked that filing Form-67 is a procedural or directory provision and is not a compulsory requirement. Thus, […]
The GST council has recommended one additional GST return Form, GSTR-1A. A new optional form, lets you change your GSTR-1 for a specific tax period. This means you can: Latest Updates Changes in GSTR-1A Before GSTR-3B Filing The Form GSTR-1A shall furnish, the flexibility feature in the amendment. GSTR-1A shall permit the assessees to revise […]
The petitioner in the matter of Bheemaneni Projects v. Deputy Assistant Commissioner ST III, heard by the Andhra Pradesh High Court under Article 226 of the Constitution of India, asked for relief against the rejection of their appeal contesting an adjudication order and subsequent rejection by the 2nd respondent. The applicant, a firm headed by […]
