Section 54 Income Tax Act (Section 54 Income-tax Act 1961 – Finance Act, 2019) [ Also Refer video on How to Save Tax on Sale of House I CA Satbir Singh ] Profit on sale of property used for residence. 1 54. 2[(1)] 3[4[Subject to the provisions of sub-section (2), where, in the case of an… Read More »
GST Officer to release detained goods & Vehicle on deposit of specified amount & confiscation to be considered afresh HIGH COURT OF GUJARAT Shahil Traders v. State of Gujarat J.B. PARDIWALA AND BHARGAV D. KARIA, JJ. R/SPECIAL CIVIL APPLICATION NO. 11018 OF 2019 JANUARY 29, 2020 Uchit N. Sheth, for the Petitioner. Chintan Dave, AGP for the Respondent. JUDGMENT J.B.… Read More »
Recovery proceedings valid as loan Taken from non existent Companies : HC However physical spot enquiries conducted at the registered address have revealed that the premise is actually a staff colony and is only for residential purposes of staff. No sign board/name plate/letter box was found in the name of M/s Glebe Trading Private Limited… Read More »
GST Assessment order Passed after death is Invalid GST Assessment Assessee was already dead as on the date of assessment order and therefore, the assessment orders is a nullity and no other issues are decided by this Court and such other issues are left open. It is made clear that the 1st respondent will be… Read More »
Assessee can file additional grounds if appeal filed by it was defective before CIT (A) : HC HIGH COURT OF KERLA Chirayinkeezhu Service Co-operative Bank Ltd. v. Income-tax Officer Ward-2(5) ALEXANDER THOMAS, J. WP (C) NO. 2856 OF 2020 FEBRUARY 3, 2020 T.R. Harikumar and Arjun Raghavan, Advs. for the Petitioner. Christopher Abraham, for the Respondent. JUDGMENT 1. The case projected… Read More »
Ministry of Finance Central Government issues Notifications allowing Health and Motor (Third Party) insurance policyholders to make premium payments till May 15th which are due for renewal during COVID-19 lockdown To ensure a continued cover and hassle-free claims payment during the grace period Posted On: 16 APR 2020 With a view to mitigate hardship to… Read More »
GST Officer to consider Refund of IGST paid on Export but not filled in shipping bills: HC Refund of IGST HIGH COURT OF GUJARAT Heavy Metal & Tubes (India) (P.) Ltd. v. Principal Commissioner of Customs J.B. PARDIWALA AND BHARGAV D. KARIA, JJ. R/SPECIAL CIVIL APPLICATION NO. 3934 OF 2020 FEBRUARY 12, 2020 Avinash Poddar, for the Petitioner.… Read More »
ITO Can’t ask Banks to pay Tax Due of Taxpayer if Stay application pending with him : HC The ITO, to hear the petitioner – assessee and dispose of the application dated 22-1-2020 seeking, in effect, a stay on the recoveries as expeditiously as possible and in any case within a period of six weeks… Read More »
No TDS u/s Sec 194C if Right to Sell Complex in favour of Contractor : HC HIGH COURT OF BOMBAY Assistant Commissioner of Income-tax, Circle-2(1), Panaji, Goa v. Alfran Construction P. Ltd. M.S. SONAK AND C.V. BHADANG, JJ. TAX APPEAL NO. 13 OF 2012 DECEMBER 2, 2019 No TDS u/s Sec 194C Ms. Amira Razaq, Standing Counsel, for… Read More »
Ministry of Finance COVID-19 Over 10.2 lakh Refunds worth Rs 4,250 crore issued in a week by CBDT to help taxpayers in COVID-19 pandemic situation Posted On: 15 APR 2020 In pursuance to the Government’s decision vide Press Note on 8th April 2020 to issue pending income tax refunds up to Rs 5 lakh in order… Read More »