"19 November 2017" Archive

CIT can consider all aspects which were subject matter of AO’s order, if in his opinion, they are erroneous

Bses Rajdhani Power Ltd. Vs. Principal CIT (Delhi High Court)

Lack of opportunity at the revisional stage under Section 263 does not vitiate the entire order, or the proceedings; rather it is a curable defect. Court is of the opinion that the ruling in Commissioner of Income tax v Amitabh Bacchan 2016 SCC Online SC 484 is decisive; it upholds the power of the Commissioner to consider all aspects whi...

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Validity of Reassessment to verify genuineness of gift based on Assessment of relatives

Shri Ashok Mahindru Vs. ITO (ITAT Delhi)

While deleting an addition made in respect of undisclosed income, the Delhi bench of the ITAT held that the gift received by the assessee cannot be treated as non-genuine merely for the reason that the family members of the assessee had received bogus gifts during the same year....

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Power to rectify a mistake U/s. 254(2) cannot be used to recall entire order

Technip India Ltd. Vs. Asst. CIT (ITAT Chennai)

Section 254 does not indicate that Tribunal can recall entire order and pass a fresh decision and power to rectify a mistake under section 254(2) could not be used for recalling entire order....

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Non-resident seafarer Salary credited by foreign employer to NRE A/c with Indian Bank- Addition not justified

Tarun Kumar Sarkar Vs Dy. DIT (ITAT Kolkata)

Salary accrued to a non-resident seafarer for services rendered outside India on a foreign going ship (with Indian flag or foreign flag) shall not be included in the total income merely because the said salary has been credited in the NRE account maintained with an Indian bank by the seafarer....

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Goods cannot be detained merely because Invoice contains Wrong Address or on mere suspicion

M/s. Magnetic Auto Controls Pvt. Limited Vs The Commercial Tax Officer (Madras High Court)

Respondent was required to consider as to merely because the notified party in the commercial invoice contains an address in Chennai, can the transaction be suspected to be one for sale within the State of Tamil Nadu. In fact, when the Detention Notice was issued on suspicion, there was no tangible material available with the officer to s...

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Permission to display revised MRP due to reduction of rates of GST up to 31.12.2017

Considering the requests received to extend the permission for some more time it has been extended to display the revised MRP due to implementation of GST by way of stamping or putting sticker or online printing for a further period of three months, i.e. up to 31st December, 2017....

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Posted Under: Income Tax |

Request for Proposal of Appointment of Tax Consultant with STPI

Software Technology Parks of India (STPI) invites proposal from the Chartered/Cost Accountant Firms for appointment as Tax Consultant for providing the taxation services to STPI. The details of RFP are as under:...

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Posted Under: Income Tax |

Appointment of Concurrent Auditors for State Health Society Maharashtra

Request for Proposal (RFP): Appointment of Concurrent Auditors for State Health Society Maharashtra (SHSM) and its Grantee Institutions for Audit of all programmes under National Health Mission including NDCPs & NCDs for the F.Y.2018-19....

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Posted Under: Income Tax |

Restaurants not passing benefit of GST Reduction to Customers and Clarification from Mcdonald

Please Read Clarification at the end of Article by Mcdonald in respect of Below Story. Nowadays Social media is abuzz with a Photo showing two bills of Mcdonald’s Family Restaurant in which Price inclusive of Tax of one of the item sold by it is shown as same on 15th November 2017 i.e. the date […]...

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Posted Under: Income Tax |

18 Questions replied recently on Twitter related to GST by CBEC

Question 1: Is that compulsory to file gstr-1A even there is no corrections and where GSTR 1 already filled? Answer: GSTR-1A is auto-populated from GSTR-2A. Procedure for filing of GSTR-2 and 3 has been kept in abeyance for the time being Special session by GST policy wing’s officers to address queries of all stake holders […...

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Posted Under: Income Tax |
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