Income from sale of agricultural land is business income is sold by Real Estate Developer : HC Income from : The business of the partnership firm shall be that of buying and developing the properties into plots including construction works and/or any other business as the parties hereto may mutually agree upon from time to… Read More »
Sec 194C TDS Not applicable on reimbursement of petrol exp paid for hiring cabs : ITAT In order to rationalize the provisions of disallowance on account of non-deduction of tax from the payments made to a resident payee, it is proposed to amend section 40(a)(ia) to provide that where an assessee makes payment of the… Read More »
Sec 142A can’t be applied for FMV of land without tangible material to reject value declared by Taxpayer : ITAT FMV As a corollary, the alleged overvaluation, in the value of investment could not be verified under the ambit of Section 142A of the Act where the subject matter of examination under section 69, 69A… Read More »
No recovery of Interest for delay in Filing GSTR 3B return unless Notice issue u/s 73 or Sec 74 : HC Due date as reflected in GSTN Portal as “31st March, 2019” for furnishing of GSTR-3B monthly return for the months of February and March, 2018. Interest has been determined without initiating any adjudication process… Read More »
Taxpayer paid fine in lieu of Confiscation , Release Detained Goods and Vehicle : HC Petitioner has already paid the amount of Rs. 1,17,832/, which is more than the amount of fine in lieu of confiscation, in terms of the order of confiscation passed under section 130 of the Central Goods and Service Tax Act,… Read More »