CBDT Order under section 119(2)(b) of the Income Tax Act, 1961 for filing applications for settlement before the Interim Board for Settlement – reg

By | September 29, 2021
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F.No. 299/22/2021-Dir (Inv. III)/174 Government of India Ministry of Finance Department of Revenue (Central Board of Direct Taxes) ***** ORDER Civic Centre, New Delhi Dated the 28.09.2021 Subject: Order under section 119(2)(b) of the Income Tax Act, 1961 for filing applications for settlement before the Interim Board for Settlement – reg The Finance Act, 2021… Read More »

Section 54F relief allowed even if payment is made one year before acquisition of property : High Court

By | September 27, 2021
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Section 54F relief allowed even if payment is made one year before acquisition of property : High Court HIGH COURT OF KARNATAKA M. George Joseph v. Deputy Commissioner of Income-tax, Circle-12(2), Bangalore ALOK ARADHE AND HEMANT CHANDANGOUDAR, JJ. IT APPEAL NO. 238 OF 2015 JULY  12, 2021 Shankar A., Sr. Counsel and Bhairav Kuttaiah, Adv. for the Appellant. E.I. Sanmathi,… Read More »

Sale of Jaggery is not agriculture income in Income Tax : High Court

By | September 27, 2021
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Sale of Jaggery is not agriculture income in Income Tax : High Court HIGH COURT OF MADRAS E. Palaniappan v. Income-tax Officer Ward – II(1), Salem M. DURAISWAMY AND MRS. R. HEMALATHA, JJ. TAX CASE APPEAL NOS.1467 & 1468 OF 2008 JUNE  22, 2021 Niranjan Rajagopal for the Appellant. M. Swaminathan, Sr. Standing Counsel and Mrs. V. Pushpa, Standing Counsel for… Read More »

Facelsss Assessment not valid if Draft Assessment order not issued to assessee : HC

By | September 27, 2021
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Facelsss Assessment not valid if Draft Assessment order not issued to assessee : HC HIGH COURT OF BOMBAY Chander Arjandas Manwani v. National Faceless Assessment Centre K.R. SHRIRAM AND M.S. KARNIK, JJ. WRIT PETITION NO. 3195 OF 2021 SEPTEMBER  21, 2021 Dharan V. Gandhi for the petitioner. Sham V. Walve and Pritish Chatterjee for the Respondent. Petitioner had fled returns for AY… Read More »

Income Tax Department conducts searches in Maharashtra : unaccounted income likely to exceed Rs. 300 crore

By | September 27, 2021
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Income Tax Department conducts searches in Maharashtra Posted On: 27 SEP 2021 The Income Tax Department carried out a search and seizure operation on 23.09.2021 on a group of four major Steel Rolling Mills based in Jalna, Maharashtra. These companies are engaged in the business of manufacturing steel TMT bars and billets mostly using steel… Read More »

Depreciation and Expenses allowed on Car purchased in Director name : ITAT

By | September 27, 2021
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Depreciation and Expenses allowed on Car purchased in Director name IN THE ITAT AHMEDABAD BENCH ‘C’ Income-tax Officer, Ward-1(1)(2), Ahmedabad v. Bajaj Herbals (P.) Ltd. MS. MADHUMITA ROY, JUDICIAL MEMBER AND WASEEM AHMED, ACCOUNTANT MEMBER IT APPEAL NOS. 2349 (AHD) OF 2015 [ASSESSMENT YEAR 2009-10] JULY  15, 2021 L.P. Jain, SR DR for the Appellant. Tushar Hemani, Sr.… Read More »

GST Circular No 162/18/2021 GST : Clarification in respect of refund of GST Wrongly paid I Section 77 of CGST I Section 19 of IGST

By | September 25, 2021
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GST Circular No 162/18/2021 GST Circular No. 162/18/2021-GST F. No. CBIC-20001/8/2021-GST Government of India Ministry of Finance Department of Revenue Central Board of Indirect Taxes and Customs GST Policy Wing **** New Delhi, dated the 25th September, 2021 To, The Principal Chief Commissioners/Chief Commissioners/Principal Commissioners/ Commissioners of Central Tax (All) The Principal Directors General/ Directors… Read More »

GST Notification No 36/2021 Central Tax : Seeks to amend Notification No. 03/2021 dated 23.02.2021

By | September 25, 2021
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GST Notification No. 36/2021 Central Tax Seeks to amend Notification No. 03/2021 dated 23.02.2021 NOTIFICATION New Delhi, the 24th September, 2021 No. 36/2021–Central Tax G.S.R. 660(E).—In exercise of the powers conferred by sub-section (6D) of section 25 of the Central Goods and Services Tax Act, 2017 (12 of 2017), the Central Government, on the recommendations… Read More »

GST Notification No 35/2021 Central Tax : CGST (Eighth Amendment) Rules, 2021.

By | September 25, 2021
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GST Notification No 35/2021 Central Tax GST Notification No 35/2021 Central Tax MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS) NOTIFICATION New Delhi, the 24th September, 2021 No. 35/2021–Central Tax G.S.R. 659(E).—In exercise of the powers conferred by section 164 of the Central Goods and Services Tax Act, 2017 (12… Read More »