Claim of deduction towards TDS receivable written off, its disallowance by Assessing Officer and Validity of Penalty levied
CBIC exempts the registered person whose aggregate turnover in the financial year 2020-21 is up to two crore rupees, from filing annual GST return
Deduction is available towards Construction of houses for the needy persons by the assessee as it was not only as a social responsibility but also keeping in mind the goodwill and benefit it would yield in the long run in earning profit: Karnatak HC
Payment in a lump sum does not necessarily make the payment a capital one. It may still possess revenue character in the same way as a series of payments and may be eligible for deduction: Supreme Court
The membership fees received by the trade association are not related to any specific services rendered by it to its members and hence it is not taxable.
Non-interest bearing deposits received by assessee from letting out its premises could not be subject-matter of addition by recourse to s. 28(iv)
Reopening of assessment u/s 147 on mere change of opinion is not permissible. If the AO while framing original assessment has taken a view, he cannot turn around subsequently on change of opinion
REPRESENTATION SEEKING RATIONALISATION OF PROVISIONS RELATING TO REVOCATION OF CANCELLATION OF GST REGISTRATION UNDER AMNESTY SCHEME BY KSCAA
Income Tax Raids at Kanpur: Main ‘directors’ admitted that they were only ‘dummy directors’ and signed on the dotted lines as and when required in return for commission for their ‘services’.
