"23 July 2017" Archive

Rains of GST, enjoyment to registered and punishment to unregistered

GST is applicable to all traders. But some taxpayers wholly wet in the rain of GST and some are totally dry. So in the rain of GST which taxpayers and how preparations to be made that we will discuss....

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Gifts and Perquisites by employer to Employee when not liable to GST

Gifts upto a value of Rs 50,000/- per year by an employer to his employee are outside the ambit of GST. The Press Release issued on 10th of July by the Finance Ministry clarifying so, also states that service of membership of a club, health and fitness centre provided free of charge to all the […]...

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Applicability of GST in Transport Services

This question after GST has sudden emerged in so many users/consumers mind, although same was well described under Service Tax Act but many new questions raised due to merging of all Acts in one Act. I have tried to deal possible situations which may help you understand concept, kindly comment if any contrdict views are there because we a...

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In absence of communication of interest on IT Refund no penalty for not offering the same for tax

M/s Subhash Chander Sewa Vs Income Tax Officer (ITAT Amritsar)

Admittedly there is a mistake committed by the assessee in not adding interest on the refund to his sources of income. There is no disputing the fact that the tax payer duly and diligently must necessarily in its return of income disclose all avenues of his income. The assessee in its defence has consistently maintained […]...

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Finding Fact of Settlement Commission is not Open to Judicial Review

ABC Dubash Mining & Anr. Vs. The Income Tax Settlement Commission & Ors. (Calcutta High Court)

A finding of fact made by the Settlement Commission is not open to judicial review unless it is established that, such finding of fact suffers from perversity or is vitiated due to bias or malice. None of the grounds known to law to upset a finding of fact returned by a Settlement Commission has been substantiated in the facts of the pres...

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Order Continuing Anti-Dumping duty made After Expiry of Duty Period is Invalid: SC

Union of India and Another Vs M/s. Kumho Petrochemicals Company Limited and Another (Supreme Court of India)

Before the High court, the petitioners, M/S. Kumho Petrochemicals Company Limited And Another, made two submissions. Firstly, the order of continuation of anti-dumping duty, made after expiry of the duty period, is bad in law. Secondly, the initiation of the anti-dumping duty investigation was also bad in law on the ground that public not...

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Income of Minor Beneficiaries can be Clubbed to Income of Parents

Dr. (Mrs.) Anwar Basith, Vs The Assistant Commissioner of Income Tax, (ITAT Bangalore)

The two beneficiaries were minors and therefore the assessing officer has arrived at an income of Rs. 3,65,040/- as income includable under section 64(1A) of the Act. As the income of the Trust depends on the claim of expenditure made by the co-owners, the working of assessing officer in the assessment order is fair and reasonable....

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Addition u/s. 68 justified for Capital introduced by partner in assessee firm from sale of agricultural land with No documentary evidence to substantiate sale

R.A. Himmatsinghka & Co. Vs. Asst. CIT (Patna High Court)

AO cannot look into source of source, i.e., of third party only, however assessee’s case was different as the party was closely connected with the assessee. Firm as a partner thereof assessee clearly failed to produce the sale deeds of the sale of agricultural land by partner therefore was justified in making addition under section 68....

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Income tax dept cannot determine annual rent value on notional basis unless there is established fraud, collusion etc.

Income Tax Officer WD 1(2)(2) Vs Sudheer Omprakash Bahl (ITAT Mumbai)

Law does not permit the revenue to reject the amount determined as rent or license fees by the assesse on mere doubt or suspicion. There has to be cogent and satisfactory material to indicate that the rent or fees determined by the parties are not indicative of the fair or market rent....

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GTA Services under GST Regime (Part 2)

Can a Registered GTA apply for Composition Scheme? Well, the simple answer to this question is NO. Sec. 10(2) of the CGST Act says:- The registered person shall be eligible to opt for composition scheme, if:- (a) he/she is not engaged in the supply of services other than supplies referred to in clause (b) of paragraph 6 of Schedule II (i....

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