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claims were not rejected during original assessment

When assessee’s claims were not rejected during original assessment even after scrutiny, any attempt to reopen same would amount to mere ‘change of opinion’: HC

Income from house property

If inseparable, income from providing amenities also taxable as Income from house property

benefit of an individual or class of individuals

A club open to a section of community cannot be construed to be set up for benefit of an individual or class of individuals: ITAT

Cost Inflation Index for FY 2018-19

CBDT notifies Cost Inflation Index for FY 2018-19 at 280

Form No 36 & 36A

Amendment proposed in existing Form No.36 and Form No 36 & 36A- Suggestions invited

seizure

Government specified goods to be disposed off immediately after seizure by appropriate officer

Old savings by the housewife

Relevant Judgemnt for all- Old savings by the housewife for meeting the household expenses can not be treated as unaccounted cash: ITAT, Delhi

E-way Bill: Mechanism

E-way Bill: Mechanism to split one consignment to be transported in many Vehicles

Concept of Market

Concept of Mark to Market loss and issues connected with it.

Input Tax Credit (ITC)

Input Tax Credit (ITC) on Goods send for Job Work

jewellery

Reasonable jewellery according to the status of taxpayers cannot be seized.

UTs have implemented e-way bill

27 States or UTs have implemented e-way bill system for intra-State

Income deemed to accrue

Income deemed to accrue or arise in India—Royalty

Medical Council of India cannot prohibit pharma companies

Regulations of Medical Council of India cannot prohibit pharma companies from advertising products through doctors: ITAT

no GST chargeable

Pulse grains & cereals are agricultural produce if no further processing is done; no GST chargeable: AAR

GST refund

GST refund to foreign tourists at airports on the cards

Multi Vehicle Option for e-Way bil

New Multi Vehicle Option for e-Way bill under GST Regime

FMV

Conversion of capital assets in to stock in trade- FMV need not be stamp duty valuation: Pune ITAT

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This is an online news portal for tax news, updates, articles, judgments, Circulars, Notification and orders with regards to Indian Taxation Laws. ‘Simplifying the TAX & creating awareness about tax laws is the main motto of the Team theTAXTALK.

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