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Archive: 02 July 2015

Posts in 02 July 2015

Live Course on Appeal, Pleading & Drafting under GST by CA Sachin Jain

May 15, 2024 7182 Views 0 comment Print

oin us for an immersive live course led by renowned expert CA Sachin Jain, as we delve into the intricacies of appeal, pleading, and drafting under GST.

Disallowance U/s. 14A cannot be made if Assesseee suo motto disallowed the expenses in excess of working U/s. 14A r.w. Rule 8D

July 2, 2015 1294 Views 0 comment Print

After hearing the rival contentions, ITAT held that that the disallowance made by the assessee, is in excess to the disallowance with the working under 14 A r.w.s.8 D which amounts to Rs 1,32,913. ITAT upheld the contentions of the assessee and deleted the addition.

Adjournment of hearing with pre-information does not allow CIT (A) to dismiss appeal decide the issue exparte

July 2, 2015 6047 Views 0 comment Print

The learned counsel for the assessee contended that the assesseee was given sufficient opportunity to put forward his arguments with necessaryevidences by appearing in person or by an authorized representative.

Appeal filed ignoring monetary limits prescribed U/s. 268A could not be entertained

July 2, 2015 1908 Views 0 comment Print

Assessing Officer passed an order disallowing the deduction u/s 80IC and also rejected the assessee’s business loss set off against business income by concluding that the income credited to job work was an unexplained cash credit against which claim of set off not available.

Gift cannot be said ingenuine if identity and relationship with donor established

July 2, 2015 432 Views 0 comment Print

While Section 68 certainly enables the AO to bring to tax amounts which are suspect, in a transaction of the present kind, where the identity and the relationship of the donor are known, the AO in our opinion ought not to have concluded that the transaction – by which the assessee received the amount of Rs. 1,84,860/- was ingenuine.

Delay in issuing notice u/s 158BD by 10 months cannot be considered contemporaneous

July 2, 2015 483 Views 0 comment Print

Revenue has to be vigilant in issuing notice to the third party under Section 158 BD, immediately after the completion of assessment of the searched person, this Court is of the opinion that a delay ranging between 10 months of 1 ½ years cannot be considered contemporaneous to assessment proceedings.

Valid “Satisfaction Note” as required u/s 158BD requires proper recording of evidences for being satisfied

July 2, 2015 1421 Views 0 comment Print

The assessee contended that the note was antedated and is accordingly not valid. He tried to substantiate his argument by demonstrating the following: If the satisfaction note was recorded on 29th Aug., 2002

Place of Removal should be determined at the time when the property in goods passed to the buyer

July 2, 2015 1973 Views 0 comment Print

The appellant deals in the manufacture and sale of cement. According to the appellant, in the present case, sale of cement was made at the destination of the buyer and hence the appellant would be entitled to CENVAT credit on input service on transportation of the cement sold by the appellant.

Public Notice No. 24/2015-20, Dated: 02.07.2015

July 2, 2015 694 Views 0 comment Print

All the PSIA listed in Appendix 2G are allowed time upto 31.07.2015 to submit Bank Guarantee as prescribed in Public Notice 21 dated 23.06.2015 read with Public Notice No. 19 dated 05.06.2015.

Period for Settlement of PF, Pension & Insurance Claims Reduced to 20 Days

July 2, 2015 525 Views 0 comment Print

Central Government hereby makes the following Scheme further to amend the Employees’ Provident Funds Scheme, 1952, namely :- 1. (1) This Scheme may be called the Employees’ Provident Funds (Amendment) Scheme, 2015.

Service Tax / Excise Audit- Frequently Asked Question

July 2, 2015 17846 Views 11 comments Print

The Central Excise officers posted in Commissionerate of Audit conducts Audit which include Assistant / Deputy Commissioner, Joint /Additional Commissioner or Joint Director (Cost).

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