Protected: Reassessment in Income tax Not valid if reasons recorded in file for reopening and reasons supplied to assessee were different : High Court
There is no excerpt because this is a protected post.
Monthly Archives: June 2023
Sovereign Gold Bond Scheme, 2023-24 Notification
Sovereign Gold Bond Scheme, 2023-24 Notification SOVEREIGN GOLD BOND SCHEME, 2023-24 NOTIFICATION G.S.R. 438(E) [F. NO. 4(6)-B(W & M)/2023], DATED 14-6-2023 In exercise of the powers conferred by clause (iii) of Section 3 of the Government Securities Act, 2006 (38 of 2006), the Central Government hereby makes the following Scheme, namely: Short title and commencement 1. (i)… Read More »
No Penalty under Income Tax for Bogus purchases if returned income and Assessed Income are same : High Court
CASE LAW: – INCOME TAX ACT, 1961 Armoury International Vs.Asst. CIT 21(3) When the return of income and the assessed income are same, the machinery provision for levy of penalty u/s. 271(1)(c) fails, as the penalty u/s. 271(1)(c) is levied with reference to the tax sought to be evaded, which is the difference between the… Read More »
Update on Enablement Status for Taxpayers for e-Invoicing
Advisory: Update on Enablement Status for Taxpayers for e-Invoicing 16/06/2023 Dear Taxpayers, It is to inform that as per Notification No. 10/2023 – Central Tax dated 10th May 2023, the threshold for e-Invoicing for B2B transactions has been lowered from 10 crores to 5 crores. This change will be applicable from 1st August 2023. 2.… Read More »
New List of banks for Income Tax payments
New List of banks for Income Tax payments E-Pay Tax service is now enabled for DCB Bank with Over the Counter and Net Banking options. List of banks for tax payments
Orders passed u/s 201 due to action u/s 133A are appealable before CIT(A) under e-Appeal Scheme: CBDT
Orders passed u/s 201 due to action u/s 133A are appealable before CIT(A) under e-Appeal Scheme: CBDT The CBDT has clarified that orders passed under section 201 shall not be considered as assessment orders covered under the exceptions provided in the Board’s order dated 16.06.2023 vide F.No.370149/97/2023-TPL. Therefore, all the appeals against such orders passed… Read More »
CBDT notifies JCIT(A)/Addl. CIT(A) for e-appeal proceeding : Notification No. 40/2023
CBDT notifies JCIT(A)/Addl. CIT(A) for e-appeal proceeding [Notification No. 40/2023 F. No. 279/Misc./M-42/2023-ITJ] MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 14th June, 2023 (INCOME TAX) S.O. 2624(E).— In exercise of the powers conferred by sub-sections (1) and (2) of section 120 of the Income-tax Act, 1961 (43… Read More »
GST registration valid but AO passed order treating taxpayer unregistered , order invalid : High Court
HIGH COURT OF BOMBAY Dharmendra M. Jani v. Union of India SUNIL B. SHUKRE AND ABHAY AHUJA, JJ. WRIT PETITION NO. 2031 OF 2018 WRIT PETITION (L.) NO. 639 OF 2020 JUNE 6, 2023 A.K. Mohanty, Adv. for the Petitioner. Diganta Dash for the Respondent. ORDER This matter is taken up through hybrid mode. 2. Heard Mr. A.K. Mohanty, learned counsel… Read More »
AMNESTY scheme under GST
AMNESTY scheme under GST
Instruction No 03/2023 GST FOR REGISTRATION UNDER GST
Instruction No. 03/2023-GST F. No. CBIC-20006/15/2023-GST Government of India Ministry of Finance Department of Revenue Central Board Indirect Taxes & Customs, GST Policy Wing New Delhi, dated 14thJune, 2023 to, All the Principal Chief Commissioners / Chief Commissioners / Principal Commissioners /Commissioners of Central Tax All the Principal Directors General/ Directors General of Central Tax… Read More »