Circular No.10/2020 GST F. No. 37014219/20 18-TPL Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes TPL Division New Delhi, dated 24th April, 2020 Order under section 119 of the Income-tax Act, 1961 Section 44AB of the Income-tax Act, 1961 (‘the Act’) read with rule 6G of the Income-tax Rules,… Read More »
File FORM GST PMT 09, to transfer/shift the money available in Electronic Cash ledger, between various major and minor heads of GST 27/04/2020 Taxpayers deposit money using challan and the paid amount gets credited in the particular head in the Electronic Cash ledger and the same can be utilized in settling liabilities of that head… Read More »
Stay on Income Tax recovery due to COVID-19 so that salaries could be paid : ITAT Stay on Income Tax IN THE ITAT MUMBAI BENCH Pandhes Infracon (P.) Ltd. v. Assistant Commissioner of Income Tax P.P. BHATT, PRESIDENT AND PRAMOD KUMAR, VICE PRESIDENT SA NO. 184/MUM/2020 [ASSESSMENT YEAR 2010-11] APRIL 24, 2020 Vipul Joshi and Dinkle Hariya for the… Read More »
No Recovery to be made from Bank Account due to Covid 19 if taxpayer set aside Rs 5 lakh : HC There subsists an order dated March 20, 2020 passed by the Hon’ble Supreme Court directing the revenue authorities not to initiate any recovery proceedings during the subsistence of the COVID-19 pandemic. In my view,… Read More »
No Sec 68 Addition for purchases from Unregistered person if identity proved in penalty proceedings : SC the factual basis on which the Officer formed his opinion in the assessment order dated 30.11.2000 (for assessment year 1998-1999), in regard to addition of Rs.2,26,000/- (Rupees two lakhs twenty six thousand only), stands dispelled by the affidavits… Read More »
No Attachment of Bank Account in GST without quantifying Interest liability : HC It is to be noted at this juncture that in both the writ petitions, the respective writ petitioners are not disputing their liability to pay the interest on the delayed payment of tax. On the other hand, they are disputing the quantum… Read More »
GST Exemptions Important Decisions I CA Satbir Singh
Assessing Officer: Reassessment based on search in third party is valid as there are Reasons to believe : HC A perusal of the appraisal report, on which reliance has been placed by the Assessing Officer, reveals that there was sufficient material for the Assessing Officer to form the belief that income chargeable to tax has… Read More »
Sec 194J TDS applicable on Toll Free Telephone charges : ITAT Payments made are towards toll-free telephone charges paid for toll free telephone number provided by telecom operators, whereby charges for calls made by consumers to the toll-free number is borne by assessee. These are dedicated private circuit lines available to assessee. In other words,… Read More »
GST ITC Important Decisions : CA Satbir Singh