No revision u/s 263 allowed if appeal against order of AO was pending before CIT(A): Madras HC

Whether services rendered by the intermediary to the students of foreign universities are export of services?

REVERSE CHARGE MECHANISM (RCM) ON SECURITY SERVICES

In order to invoke provisions of section 13(2)(c), it is essential to prove that amount paid to person referred to in sub-section (3) of section 13 is in excess of what may be reasonably paid for services rendered

Cabinet approves creation of National Bench of GST Appellate Tribunal

10 important judgements related to GST:

Some useful judgements on scope of rectification u/s 154.

CA Exams May Be Postponed To June

Goods procured from one country and supplied to another doesn’t attract IGST: AAR

Start-up tax exemption procedure simplified; merchant banker valuation report withdrawn

If default in payment of interest then penal interest will attract GST and increase the cost of loan

GIFT TAX IN INDIA

Failure to issue Form No. 16: We would expect the Department of Revenue, particularly, Department of Income Tax to penalise such defaulters and take other strict measures contemplated by law against them: High Court

CBDT clarifies – Section 56(2)(x) even applies to fresh issue of Shares by the Company. Controversy continues

Second proviso to s. 40(a)(ia) is beneficial to the assessee and is declaratory and curative in nature

Even fresh issue of shares attract the provision of section 56(2)(x) if issued below its FMV

Exception to the rule – ‘Failure to deal with an argument does not constitute a ‘mistake apparent from the record’ does not apply to a case where a fundamental submission is omitted to be considered by the ITAT’.

CPT, Foundation, Final(Old) & Final(New) Examination Results declared.