Powerd By SAG INFOTECH
Notifications can be turned of anytime from browser settings
The decision of the Kerala High Court in the case of Faizal Traders Pvt Ltd vs Deputy Commissioner revolves around denying a GST input tax credit (ITC) claim and pertinent penalties under the CGST/SGST Act. Faizal Traders, a registered dealer in furnishing services to Southern Railway and distributing BSNL top-up and recharge coupons, contested an […]
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 matter of Sunil Khaitan vs. DCIT (ITAT Kolkata) is concerned with the taxation of cash deposits incurred at the time of the demonetization period. Sunil Khaitan, the appellant, filed his ITR for the AY 2017-18, reporting a total income of Rs. 40,48,000/-. However, his case was appointed for scrutiny under the Computer Aided Scrutiny […]
The council is not estopped from availing a measure against the bogus claim of the ITC only because the firms with which the transactions were alleged to have proceeded were enrolled during alleged transactions, Allahabad HC ruled. Justice Subhash Vidyarthi noted that fraud vitiates the most solemn proceedings and ruled that the I.T.C. benefit had […]
The application of registration filed under Section 12A of the Income Tax Act, 1961 has been cancelled by the two-member bench of the Income Tax Appellate Tribunal ( ITAT ) after witnessing that the income made via leasing of trust building is a commercial business activity. The taxpayer, Golden Charitable Trust entered into a lease […]
For the Assessment Year 2024-25 nearly 800,000 income tax returns have been filed earlier as the Central Board of Direct Taxes enabled functionalities for commonly used income tax returns from April 1 in the current year. Since the eligible taxpayer has begun using the chance to smash the last-minute rush, over 829,000 ITR had been […]
Delhi High Court in a case asked for re-adjudication when the order passed u/s 73 of the Central Goods and Services Tax Act, 2017 without furnishing a chance to clarify the response concerning the Show Cause Notice (SCN). The applicant Decolene Fibers Pvt. Ltd. filed the writ petition against the show cause notice and order […]
New trouble has emerged for Patanjali Group companies led by Baba Ramdev. Directorate General for GST Intelligence (DGGI) is comprehended to have issued two show-cause notices to Patanjali Group companies Patanjali Ayurved and Patanjali Foods. As per the sources, DGGI (Directorate General for GST Intelligence) has sent 2 SCN before Patanjali group companies Patanjali Ayurved […]
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 […]
