Amendment to Circular No. 31/05/2018-GST, dated 9th February, 2018 on ‘Proper officer under sections 73 and 74 of the Central Goods and Services Tax Act, 2017 and under the Integrated Goods and Services Tax Act, 2017’
Whether the scope of assessment U/s 153A could be broadened U/s 263 to include a re-calculation of LTCG pursuant to section 50C in cases where the original assessments remained unabated?
Penalty of Rs.61.9 lakh for Non-filing of annual returns and annual financial statements in violation of Sec. 92(4) & Sec. 137(1) of the Companies Act by ROC, Tamilnadu
Addition in the hands of Assessee in respect of account belonging to other: ITAT Agra deleted the addition after condoning delay of 174 days
Option once exercised by filing of Form 10IC, it remains valid for subsequent assessment years: No need to file it every year: ITAT Delhi
Without any evidence to doubt the genuineness, the resultant capital loss cannot be disallowed: ITAT Mumbai
Actual turnover of Kaccha Aarahtias (commission agents) is the commission charged and not the total sale proceeds on behalf of their principals: TDS credit allowed by ITAT Visakhapatnam
Audit Memo do not fall within the ambit of the term “information” as provided in Explanation 1 to Section 148 of the Act w.r.t Finance Act 2021
Newly notified Section 16(5) opens the door for revisiting denied ITC claims for specific periods – Kerala HC Ruling
Since Appellant acted in a bona fide manner and made necessary adjustments by the end of the financial year, there is no liability of interest under section 201(1A): ITAT Mumbai
Penny stock addition deleted by ITAT Mumbai as no role has been attributed and/or established qua rigging of the shares
Interest reimbursed to the sister concerns is not an income & there is no statutory obligation to deduct TDS under Section 194A: ITAT Mumbai
Liabilities disclosed in the balance sheet by the assessee, if acknowledged and supported with evidence, cannot be treated as remission or cessation of liability under Section 41(1) of the Income-tax Act, 1961: ITAT Delhi
Income offered by Husband and Wife separately in the ITR & TDS credit claimed by Husband Only: ITAT Mumbai allows the TDS Credit
