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We are disposing of the above Appeals preferred by the Revenue by this common order and judgment. The above Appeals have challenged the impugned orders passed by the Customs, Excise and Service Tax Appellate Tribunal, Mumbai (for short Appellate Tribunal) dated 3rd February 2016 in Central Excise Appeal No. 3 of 2017 and 11st January 2016 in Central Excise Appeal No. 27 of 2017 respectively.
In the instant case, the deductee has filed the return of income on 14.12.2012 and the long term capital gains resulted into capital loss which resulted into nil demand. According to the assessee, there was no tax payable by the deductee on the transaction of sale of immovable property. When there is no tax payable by the deductee on sale of land, there is no question of charging interest u/s 201(1A) of the Act, as per instruction No.2 of 2014 dated 26.2.2014 and the circulars are binding on the Departmental officers. Therefore, we hold that there is no case for charging interest u/s 201(1A) of the Act as per instruction No.2 of 2014 and accordingly, the orders of the lower authorities are set aside and the appeal of the assessee is allowed.
I am a small-time professional chartered accountant in field of Taxation practicing since 21 years. Have seen massive transformation of manual to fully automated system of filing the returns be it be Income Tax(CPC), Be it be TDS(TRACES), Be it be VAT (MAHAVAT), be it be Service Tax(ACES), be it ROC Filing (MCA) etc.
AO was justified in making addition under section 68 on account of unexplained cash deposits found in bank account in case having regard to the human probabilities and normal course of human conduct, explanation offered by assessee was not wholesome, credible and verifiable.
Power of Central Govt u/s 66(2) regarding notice for reduction of share capital delegated to Regional Directors at Mumbai, Kolkata, Chennai, New Delhi, Ahmedabad, Hyderabad and Shillong vide notification dated 6.9.2017
Contact@DGFT system has been activated at the DGFT website (www.dgft.gov.in) as a single point contact for resolving all foreign trade related issues. Exporters/Importers are requested to use this facility for resolution of foreign trade related issues either directly concerning DGFT (headquarters or regional offices) or concerning other agencies of the Central or State Governments.
Allotment of Securities S. NO. PARTICULARS DETAILS 1. Allotment within 60 days Allotment shall be done within 60 days of receipt of application money. 2. If not allotted within 60 days, refund in next 15 days If allotment is not done within 60 days then refund the whole application money within next 15 days. 3. […]
The GST liability of August 2017 is to be discharged by 20th Sept 2017 only.The Government will never lose it’s revenue. What about exporters and other taxpayers who want to claim refund????? Applications for same are not yet started as they have postponed GSTR 1 ,2, 3 returns due date.
Download TDS RATE FOR A.Y 2018-19 / F.Y. 2017-18 in PDF Format TDS Rate chart applicable for Financial Year 2017-18 S.no Section Nature of Income Amout over which TDS to be deducted Rate of TDS If PAN is available If PAN is not available 1 192 Salary to be seen as per slab Average Rate […]
DIN APPLICATION Any person intending to apply for DIN shall have to make an application in eForm DIR-3. DIR-3 Form: Any person intending to apply for DIN shall have to make an application in eForm DIR-3 and should follow the following procedure: Online Filing of DIN Application. In Form DIR-3 fill the details like Name, […]
