No Reassessment if Assessee did not receive Loan but its sister concern received loan Thus, it is evident that in the facts of the said case: (i) the petitioner company had obtained a loan from a company in which it had shareholding not less than 10 per cent of the voting power. While the loan… Read More »
Advance Ruling declared as Void as Assessee hided that proceeding pending before Directorate General of GST Intelligence : AAAR APPELLATE AUTHORITY FOR ADVANCE RULING, MAHARASHTRA Assistant Commissioner of SGST v. Arihant Enterprises SMT. SUNGITA SHARMA AND RAJIV JALOTA, MEMBER ORDER NO. MAH/AAAR/SS-RJ/05/2019-20 SEPTEMBER 9, 2019 (Under Section 101 of the Central Goods and Services Tax Act, 2017… Read More »
New TDS and TCS Rates from 14.05.2020 for FY 2020-21 In order to provide more funds at the disposal of the taxpayers for dealing with the economic situation arising out of COVID-19 pandemic, the rates of Tax Deduction at Source (TDS) for the following non-salaried specified payments made to residents has been reduced by 25%… Read More »
Ministry of Finance Finance Minister announce measures for relief and credit support related to businesses, especially MSMEs to support Indian Economy’s fight against COVID-19 Posted On: 13 MAY 2020 6:39PM by PIB Delhi Rs 3 lakh crore Emergency Working Capital Facility for Businesses, including MSMEs Rs 20,000 crore Subordinate Debt for Stressed MSMEs Rs… Read More »
Tax & Other Relief for Taxpayers on 13.5.2020 by Finance Minster Presentation made by Union Finance & Corporate Affairs Minister Smt. Nirmala Sitharaman under Aatmanirbhar Bharat Abhiyaan to support Indian economy in fight against COVID-19 Posted On: 13 MAY 2020 6:02PM Click here for the detail PPT
New Tax Audit Limits I Income Tax I GST I CA Satbir Singh
What is TDS on Contractor I Income Tax and GST I CA Satbir Singh
No additions u/s 68 on basis of search on third party, if AO has not conducted any independent enquiry : ITAT IN THE ITAT KOLKATA BENCH ‘B’ Modern Malleables Ltd. v. Deputy Commissioner of Income Tax P.M. JAGTAP, VICE PRESIDENT AND A.T. VARKEY, JUDICIAL MEMBER IT APPEAL NO. 2548 (KOL.) OF 2019 [ASSESSMENT YEAR 2013-14] MARCH… Read More »
AO can not make disallowances if it was not part of Remand proceedings : HC The Tribunal takes the view that section 44AD of the Act is not applicable. It directed the assessee to attend the assessment proceedings and justify its case on lower rate of profit in accordance with its books of account. The… Read More »
No disallowance u/s sec. 14A if No Exp incurred to earn exempt income : HC HIGH COURT OF KARNATAKA Commissioner of Income-tax v. Syndicate Bank ALOK ARADHE AND RAVI V. HOSMANI, JJ. IT APPEAL NOS. 97 & 99 OF 2010 JANUARY 17, 2020 K.V Aravind, Adv. for the Appellant. T. Suryanarayana, Adv. for the Respondent. JUDGMENT Alok Aradhe, J. –… Read More »