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Tax is needed to be charged on the rent received from the Government social welfare college boys hostel, Telangana Authority for Advance Ruling (TAAR) ruled. It was noted that the petitioner is furnishing the renting of buildings to Greater Hyderabad Municipal Corporation (GHMC) and in municipalities and no direct relation is there between the services […]
The matter of ACIT Vs Shanker Nebhumal Uttamchandani, as decided by ITAT Surat, emphasizes the importance of substantial proof in tax assessments, especially concerning additions incurred based on digital device data. The Assessing Officer (AO) had incurred the additions to the taxpayer’s income based on particulars discovered in the digital device at the time of […]
A reconsideration is been ordered by the Delhi bench of the Income Tax Appellate Tribunal (ITAT) asking for a new adjudication. The same decision arrives as the submissions for the Tax Deducted at Source ( TDS ) deductions u/s 194J or 194C for payments related to X-ray and CVC machine maintenance were not regarded. The […]
Dr RV Asokan, the firebrand national president of the Indian Medical Association (IMA), was in Nagpur to install the IMA Nagpur chapter’s new team led by Dr Manjusha Giri. Dr Asokan articulated the pressing problems plaguing India’s medical sector, suggesting immediate action needs to be taken by the government. On illness, GST on healthcare is […]
Income Tax Appellate Tribunal (ITAT) Delhi’s recent decision in the matter of Oriental Bank of Commerce vs. ACIT (ITAT Delhi) has influential implications for the treatment of bad debts claimed by the bank u/s 36(1)(vii) of the Income Tax Act, 1961. The petition related to the AY 2017-18 and was filed against the order of […]
GST council is speeding up to reexamine the exempting reinsurance business from GST. The same review is slated to emerge after the general elections spanning from April 19 to June 1, 2024, aimed at electing the 543 members of the lower house of Parliament, as per the report. The Council may furnish a clarification stressing […]
The Delhi Bench of Income Tax Appellate Tribunal ruled that the manual cash book that comprises entries pertinent to the cash withdrawals and expenses of the company, which were duly recorded and reconciled with its books of account, including with the cash introduced, withdrawn, and expenses on behalf of the taxpayer. The bench of Anubhav […]
The problem of unsigned orders in tax matters arrived under scrutiny in a case before the Telangana High Court. The order of the Assistant Commissioner has been contested by the applicant under the CGST/TGST Act, 2017 quoting its voidness as of lack of signature. Let’s get into the insights of the detailed analysis of the […]
While finding a taxpayer guilty of the offence of filing delayed income tax returns, “mens rea“ is a crucial ingredient, the Rajasthan High Court ruled. In the absence of mens rea, an accused could not be held guilty, and his conviction u/s 276 CC of the Income Tax Act cannot be supported, the bench of […]
