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Archive: 29 January 2018

Posts in 29 January 2018

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

May 15, 2024 6372 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.

Live Course on How to Reply to GST Notices & SCN & to Fake ITC Notices? – Last day to Register

May 15, 2024 19383 Views 0 comment Print

Join our live course to learn expert strategies for replying to GST notices, SCNs, and fake ITC notices. Understand litigation nuances, evidence insights, and practical tips for effective responses. Register now!

Software supplied Separately cannot be considered part of relevant Device for Excise Duty Levy

January 29, 2018 1086 Views 0 comment Print

M/s. Siemens Ltd Vs. CCE & ST (CESTAT Chennai) Lower authorities have inter-mixed the embedded software with the customized software supplied latter for monitoring and data retrieval from the device. From the discussions above, it is clear that a devise should suffer Central Excise duty along with essential operating software which is part and parcel […]

Make provisions for comprehensive audit of all filed TDS returns: ICAI

January 29, 2018 1587 Views 0 comment Print

A major portion of the revenue by way of income-tax is recovered through deduction of tax at source. Thus, in-depth verification of all the TDS returns is necessary.

MahaRERA Conciliation & Dispute Resolution Forum

January 29, 2018 3189 Views 0 comment Print

Whereas the Chairperson, MahaRERA is vested with the powers of general superintendence and directions in the conduct of affairs of the authority under section 25 of the Real Estate (Regulation and Development) Act, 2016 (RERA).

Number of Tax Returns and payment schedule should be curtailed: ICAI

January 29, 2018 1164 Views 0 comment Print

Even in the e-filing era, the assessees are overburdened with the compliances to be made with regard to filing of returns and payment schedules. An assessee is required to file quarterly returns relating to TDS on salaries

Service tax does not form part of gross receipts for computation U/s. 44BB

January 29, 2018 1176 Views 0 comment Print

Dy. DIT (IT) Vs weatherford Oil Tools (ME) Ltd. (ITAT Delhi) On Issue relating to the service tax, learned AR placed reliance on the decision of the Hon’ble Jurisdiction High Court in the case of CIT vs Mitchell Drilling International P. Ltd. 380 ITR 130 in support of his contention that the service-tax being statutory […]

Penalty cannot be imposed U/s. 271(1)(c) in absence of recording of satisfaction by AO

January 29, 2018 16779 Views 0 comment Print

Aforesaid appeal by the assessee is against order dated 28th December 2015, passed by the learned Commissioner (Appeals)–37, Mumbai, confirming penalty under section 271(1)(c) of the Income-tax Act, 1961 (for short the Act) for the assessment year 2010–11.

Mere low profitability of recipient firm not relevant to apply section 40A(2)(b)

January 29, 2018 2382 Views 0 comment Print

Sharp Designers and Engineers India Pvt. Ltd. (Formerly Khinvasara Investments Pvt. Ltd.) Vs ACIT (ITAT Pune) AO had not brought any comparables from market to make out that the case that impugned payment was excessive or unreasonable within the meaning of section 40A(2)(b) and based his conclusion merely on low profitability of recipient firm was […]

NSDL should inform reason if PAN application is withheld: ICAI Suggests

January 29, 2018 3624 Views 0 comment Print

For filing of return, it is mandatory to have PAN. A person applying for PAN has to give his details in a prescribed form & the same will be allotted to him by the Income Tax Department.

Existence of agreement between two jurisdictional Commissioners is a condition precedent for passing case transfer order U/s. 127(2)

January 29, 2018 1209 Views 0 comment Print

On 19th September 2017, notice for final disposal at admission stage was issued. Accordingly, today, we have taken up the writ petition for final hearing. The Commissioner of Income Tax, Mumbai issued notice dated 18th April 2017 to the petitioner taking recourse to subsection 2 of Section 127 of the Income Tax Act, 1961

Section 143(1)- Increase in scope of Incorrect claim apparent from any information in return

January 29, 2018 1671 Views 0 comment Print

The Finance Act, 2016 has amended the said section by inserting sub-clause (iv) to sub-section (1) of section 143 for disallowing expenditure indicated in the audit report but not taken into account in computing the total income in the return.

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