Ministry of Finance Racket busted of Large number of non-operational Partnership firms falsely claiming refunds against accumulated ITC in Delhi NCR Posted On: 17 MAR 2020 12:48PM by PIB Delhi A large numberof proprietorship / partnership firms registered with Gautam Buddha Nagar and other Commissionerates of Delhi NCR which were apparently connected and had claimed… Read More »
Merely because the respondent assessee has disclosed additional income of Rs. 12 Crore during the course of settlement, it cannot be said that Commission has not followed the procedure prescribed under the Act of 1961. HIGH COURT OF GUJARAT Principal Commissioner of Income-tax, Surat-1 v. Shankarlal Nebhumal Uttamchandani J.B. PARDIWALA AND BHARGAV D. KARIA, JJ. R/SPECIAL CIVIL… Read More »
. The ITAT came to the erroneous conclusion that merely because the Assessee had generated profits out of the activity of publishing and selling of school text books it ceased carrying on the activity of ‘education.’ The ITAT failed to address the issue in the background of the setting up of the Assessee, its control… Read More »
In the case of Nirma Industries Ltd. v. Dy. CIT [2006] 283 ITR 402 (Guj) in which the court upheld the assessee’s claim for deduction under section 80-I of the Act on the interest received on late payment of sale consideration as amount derived from eligible business. These questions are, therefore, not required to be considered. The question… Read More »
The Ld. A.O. has not found any fault with the payment nor has disbelieve the payment made for the coal suppliers who are duly registered with the VAT department. The payment has not been doubted by the A.O. or by the Ld. CIT(A), hence looking to the facts that the payments were made after the… Read More »
we are of therefore of considered view that the assessment order was not the result of non-enquiry or non-application of mind or assumption of wrong facts. We are also of the considered opinion that while passing the assessment order the AO had followed the permissible view in law which cannot be said to be ‘unsustainable… Read More »
The complaints have been filed so as to settle personal scores between the parties. It thus noticed that the appellant company was no way involved in the legal proceedings taken against the Directors/Shareholders in their individual capacities. HIGH COURT OF BOMBAY National Refinery (P.) Ltd. v. Assistant Commissioner of Income-tax M.S. SANKLECHA AND NITIN JAMDAR, JJ. IT… Read More »
The 39th GST Council meeting was held on March 14, 2020. The GST Council has taken several decisions which include measures related to facilitation of trade, deferment of e-invoice and e-wallet scheme, amendments to GST rules, GST rate changes in case of certain goods and services and several other initiatives proposed. Infosys also submitted suggestions… Read More »
[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (i)] GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) Notification No. 3/2020-Central Excise New Delhi, the 13th March, 2020 G.S.R. (E). – In exercise of the powers conferred by section 147 of Finance Act, 2002 (20 of 2002), read with… Read More »
PUNJAB & HARYANA HIGH COURT BAR ASSOCIATION (REGD.) PUNJAB & HARYANA HIGH COURT, SECTOR-1, CHANDIGARH-160001 (INDIA) RESOLUTION Dated 16.03.2020 The Executive Committee in its meeting dated 16.03.2020 and in view of decision taken by the Administrative Committee of Hon’ble High Court alongwith the Members of the Bar, it is informed that: