Powerd By SAG INFOTECH
Notifications can be turned of anytime from browser settings
The New Delhi bench of the Income Tax Appellate Tribunal (ITAT) carried that unless there is proof to show that the obligation has ceased to exist, no addition under section 41(1) of the Income Tax Act is there and therefore, deleted the addition made by Assessing Officer (AO). A petition has been filed by Shashi […]
The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) ruled that the addition could not be deleted for the only cause that the section under which the addition is made is cited incorrectly and that it is essential to look into the merits of the case. The bench of Anikesh Banerjee (Judicial Member) and Padmavathy […]
The Chennai ITAT said that receipt of sale consideration of a massive amount of Rs. 1.60 Crores in cash, which is, in breach of the provisions of section 269SS (this section restricts cash receipts over & above twenty thousand) of the Income-tax Act, rightly merits the imposition of penalty under section 271D. The Bench of […]
The matter of Durge Metals versus the Appellate Authority and Joint Commissioner, State Tax, before the Madhya Pradesh High Court, is around the challenge to specific notices issued under the GST Act. The applicant challenged the sufficiency of the show cause notice furnished and the following actions carried via the counsel. The blog has the […]
The Central Board of Indirect Taxes, Ministry of Finance to acknowledge extending the advantage of time extension to file a petition under section 107(1) of the Central Goods and Services Act, 2017 to orders passed under Section 129 and Section 130 of the Act, Allahabad High Court rendered. On 2nd November 2023, the Central Board […]
Section 16(4) of the Goods and Services Tax (GST) is the attractive provision permitting assessees to avail the ITC lessening the cascading effect that is in the VAT regime which came with the influential catches and setbacks levied in the form of the conditions to be fulfilled transferring the vested ITC nature to a conditional […]
Patna HC’s Order for M/s Prince Sanitation Gandhi Path
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) clarified that failing to deposit long-term capital gains (LTCG) into a capital gain account scheme does not warrant disallowance of deduction under Section 54 of the Income Tax Act. Saktijit Dey (Vice President) and M. Balaganesh (Accountant Member) took a meticulous approach in addressing the matter. […]
On December 13th, 2023, the Central Board of Indirect Taxes and Customs (CBIC) issued a directive instructing officials that the application of section 74(1) of the CGST Act for issuing show cause notices should only occur when investigations reveal concrete evidence of fraud, deliberate misrepresentation, or withholding of facts to avoid tax. Furthermore, this evidence […]
