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The Goods and Service Tax (GST) Act was inaugurated at midnight on July 1, 2017. This legislation’s primary objective is to provide a framework for imposing and collecting taxes on the intra-state supply of goods or services, or both, by the central government and related matters. Under the GST Act of 2017, 13 distinct types […]
The Delhi High Court has ruled that the directors’ travel expenses were incurred for business purposes of the company. In this case, the bench of Justice Rajiv Shakdher and Justice Girish Kathpalia observed that there was no evidence presented by the Assessing Officer (AO) to establish that these expenses were of a personal nature. Consequently, […]
Numerous HR procedures can be quite tedious, draining your energy without providing significant value. As an HR professional, if you had the chance, which processes would you prefer to see automated? Think about those tasks that require minimal thought and feel like repetitive chores, ones you’ve performed countless times with minor variations, typically limited to […]
The Income Tax Appellate Tribunal (ITAT), the Mumbai Bench, in its recent ruling, has recently granted approval to Cleartrip’s claim regarding their expenses on advertising and sales promotion. Cleartrip Private Limited, the assessee, had sustained costs related to advertisement and publicity. The Assessing Officer (AO) contended that since Cleartrip and its subsidiaries were engaged in […]
When a tax officer issues form GST DRC-01 to a taxpayer due to non-payment, underpayment of taxes, improper utilization of input tax credit, or issuance of an erroneous refund, and the taxpayer fails to settle the outstanding amount, they are labelled as defaulters. In accordance with clause (a) of sub-section (1) of section 79 of […]
At the time of ensuring the additions towards the cost reimbursements as fees for technical services (FTS), the Mumbai Bench of Income Tax Appellate Tribunal observed that the taxpayer does not have any foundation for the allocation or actual cost incurred for affiliates. Aby T. Varkey (Judicial Member) and S. Rifaur Rahman (Accountant Member), presiding […]
The constitutional validity of the explanation to Section 10AA(1) of the Income Tax Act inserted by the Finance Act 2017, upheld by the Calcutta High Court. The bench of Justice Md. Nizamuddin witnessed that the principle of legal expectation does not apply to the case of the petitioner, and the explanation after Subsection (1) of […]
The payments made to gateway providers are not brokerage and TDS under Section 194H of the Income Tax Act,1961 is not liable to be deducted, the Bangalore Bench of Income Tax Appellate Tribunal (ITAT) said. The taxpayer M/s. Knowledge Hut Solutions Pvt. Ltd filed its income return for Assessment Year (A.Y) 2018-19 showing the total […]
In a significant legal case, the Kerala High Court invalidated the reassessment order, citing a violation of the mandatory provision under the Income Tax Act, of 1961. This violation pertained to the insufficient four-day period allowed for responding to the show cause notice (SCN). Representing the petitioner, Mr S Arun Raj served as counsel, while […]
