ITC can be availed on full GST charged on undiscounted supply invoice of goods or services issued by supplier
If the assessee fails to satisfy any one of the conditions of s. 271AAA(2), the assessee cannot escape the penalty u/s 271AAA(1) of the Act.
Upfront fee paid to bank for obtaining loan towards acquisition of capital asset is Capital or revenue expenditure?
Order u s 119 of IT Act, 1961 – Processing of returns with refund claims under section 143(1) of the Income Tax Act, 1961 beyond the prescribed time limits in non-scrutiny cases.
AO is bound by the order passed by TPO as he is required to compute total income in conformity with the ALP determined by TPO.
When the payment os made by assessee to overseas agent for services rendered abroad, it is not income chargeable to tax in India and hence no TDS required
Interesring Issue : Services of lodging and supply of food to students is Composite supply v. mixed supply ?
Despite admission by the assessee that the purchases were mere accommodation entries, the entire expenditure cannot be disallowed.
