The Assessing Officer held that services of catering rendered by M/s Monginis is technical service and therefore, deduction of tax at source by the respondent has to be under Section 194J of the Act. However, in appeal both the Commissioner of Income Tax (Appeals) (CIT(A)) as well as the Tribunal on facts have come to… Read More »
On receipt of information, the least that is expected of the Assessing Officer is to examine the same in the context of the facts of this case and satisfy himself whether the information received does prima facie lead to a reasonable belief that income chargeable to tax has escaped assessment. In this case, the reasons indicate that… Read More »
Circular No 101/20/2019 GST Circular No 101/20/2019 GST F. No. 354/27/2019-TRU Government of IndiaMinistry of FinanceDepartment of RevenueTax Research Unit No GST to be levied on the upfront amount payable in instalments for long term lease of plots North Block, New Delhi,Dated the 30th April, 2019 To,The Principal Chief Commissioners/ Chief Commissioners/ Principal Commissioners/… Read More »
Circular No 100/19/2019 GST Applicability on Seed Certification Tags Circular No 100/19/2019 GSTF. No. 354/27/2019-TRUGovernment of IndiaMinistry of FinanceDepartment of RevenueTax Research Unit North Block, New Delhi,Dated the 30th April, 2019 To,The Principal Chief Commissioners/ Chief Commissioners/ Principal Commissioners/Commissioner of Central Tax (All) /The Principal Director Generals/ Director Generals (All) Madam/Sir,Subject: GST applicability on Seed… Read More »
The grant of stay is conditional upon the satisfaction of three primary aspects, i.e., the existence of a prima facie case, financial stringency demonstrated and established by the Assessee and the balance of convenience in the matter. Thus, the Office Instruction directing the Assessing Authority to call upon the assessee to remit 20% of the… Read More »
Important Announcement 23 rd April 2019 Changes introduced in CA examinations to be held in May 2019 and onwards Students are hereby informed of the following changes that are being introduced with effect from the CA examinations to be held in May 2019 and onwards. 1. Following papers of both Intermediate and Final level exams… Read More »
Only when final determination of income is in excess of that returned by the assessee, under Section 158BC, could there be a levy of penalty under Section 158BFA of the Act HIGH COURT OF KERALA Commissioner of Income-tax, Cochin v. C. Najeeb K. VINOD CHANDRAN AND ASHOK MENON, JJ. IT APPEAL NOS. 1312 & 1549 OF 2009… Read More »
Appellant provides the maintenanceservices through two separate Agreements (referred to as Agreement-i e. ‘Comprehensive Maintenance Agreement’ and Agreement-2 i.e. ‘Equipment Parts Supply and Services Agreement’) AAR held that Activities performed under Agreement-i shall be classified as “Composite Supply”, where principal supply would be the supply of maintenance In respect of Agreement- 2, the AAR has held that the services provided under the said Agreement… Read More »
we conclude that the DFIA, also popularly known as duty paying scrips in the trade parlance, is equivalent to the duty credit scrips, as far as the tax treatment thereon, are concerned and accordingly, there will be nil rate of GST on the sale or purchase of DFIA as provided in Sr. 122A of the… Read More »
The Institute of Company Secretaries of India Dear Professional Colleague, Subject: Filing of e-Form INC 22A (ACTIVE) – ADVISORY As per Rule 25A of the Companies (Incorporation) Rules, 2014 inserted through the Companies (Incorporation) Amendment Rules, 2019 and further amended through the Companies (Incorporation) Fourth Amendment Rules, 2019, “Every company incorporated on or before 31st December, 2017 shall file particulars… Read More »