The assessee is a company which is engaged in the business of real estate. The main object of the business of the company is development of real estate. It made a payment of Rs. 3.50 crores as advance to HDIL for purchase of land to construct commercial complex for the development of real estate. Since… Read More »
SUPREME COURT OF INDIA Rajasthan State Electricity Board v. Deputy Commissioner of Income Tax ASHOK BHUSHAN AND MOHAN M. SHANTANAGOUDAR, JJ. CIVIL APPEAL NO. 8590 OF 2010 MARCH 19, 2020 JUDGMENT Ashok Bhushan, J. – This appeal has been filed by the assessee challenging the Division Bench judgment dated 13-11-2007 of the High Court of Judicature for… Read More »
AUTHORITY FOR ADVANCE RULINGS, GOA Goa Industrial Development Corporation, In re J.K. MEENA AND SMT. SARITA S. GADGIL, MEMBER ADVANCE RULING NO. GOA/GAAR/01 OF 2019-20/1875 OCTOBER 17, 2019 PROCEEDING 1. Under Section 98 of the Goa Goods and Services Tax Act, 2017) The present application has been filed under section 97 of the Goa Goods and Services Tax Act,… Read More »
it is clear that as the assessee was holding more than 10% of the shares in both the companies, the provisions of section 2(22)(e) of the Act would come into play. However, the section further provides that the dividend does not include any advances or loan made to a share holder by the Company in… Read More »
HIGH COURT OF BOMBAY Commissioner of Income Tax (Exemptions) v. Mumbai Metropolitan Region Development Authority UJJAL BHUYAN AND MILIND N. JADHAV, JJ. IT APPEAL (IT) NO. 2010 OF 2017 JANUARY 24, 2020 Ashok Kotangle and Prabhakar Ranshur, Advs. for the Appellant. S.E. Dastur, Sr. Adv. Madhur Agarwal and A.K. Jasani for the Respondent. JUDGMENT 1. Heard Mr. Ashok Kotangle, learned standing counsel, Revenue for the appellant;… Read More »
Assessee to file refund application for IGST levied on ‘ocean freight’ component before Competent Authority: HC HIGH COURT OF GUJARAT Gokul Agro Resources Ltd. v. Union of India J.B. PARDIWALA AND BHARGAV D. KARIA, JJ. R/SPECIAL CIVIL APPLICATION NO. 1758 OF 2020 FEBRUARY 26, 2020 Uchit N. Sheth for the Petitioner. Nirzar S. Desai for the Respondent. ORDER J.B. Pardiwala,… Read More »
Seeks to amend notification No. 1/2017-Central Tax (Rate) to prescribe change in CGST rate of goods. The rate of 5% on handmade safety matches and 18% on other than handmade has been made removed and uniform rate of 12% has been notified for all types of safety matches. Also, telephones for cellular networks or other… Read More »
Seeks to amend Notification No. 11/2017-Central Tax (Rate) dt. 28.06.2017 reducing CGST rate on Maintenance, Repair and Overhaul (MRO) services in respect of aircraft from 18% to 5% with full ITC [TO BE PUBLISHED IN THE GAZZETE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (i)] Government of India Ministry of Finance (Department of Revenue)… Read More »
Govt gives relief for repayment of Loan and EMI I Interest I Working Capital I CA Satbir Singh
New GST Rule to link Aadhaar with GSTIN I GST Registration I Cancellation of GST I CA Satbir Singh