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Archive: 09 February 2018

Posts in 09 February 2018

Penalty for delay in filing TDS return due to technical glitches is invalid   

February 9, 2018 1827 Views 0 comment Print

Pravin Chatarbhuj Bajaj Vs Addl. CIT (TDS) (ITAT Pune) The case of the assessee before us is that the delay in submission of e-TDS return was because of strict requirement of e-filing of the statement and filing of such e-TDS return in this year PAN of person on whose behalf tax is collected were required […]

Rule 8D not applicable if AO not recorded dis-satisfaction with correctness of claim of assessee

February 9, 2018 1524 Views 0 comment Print

Pr. CIT Vs. Reliance Capital Asset Management Ltd. (Bombay High Court) The assessing officer did not specifically record that he is not satisfied with the correctness of the claim of the assessee in respect of the expenditure in relation to the income which does not form part of the total income under the Act. However, […]

Section 115JB benefit cannot be denied to a corporation for mistake of official in Return

February 9, 2018 753 Views 0 comment Print

The statutory benefit accruing to the Corporation by virtue of Section 115JB cannot be denied and in doing so, the learned Tribunal has not committed any error and we find no substantial question of law, warranting reconsideration.

Mere Issue of 2nd notice U/s. 148 does not constitute Change of Opinion; AO can examine genuineness of share premium U/s 68

February 9, 2018 1245 Views 0 comment Print

The assessee, a company stated to be engaged in Real Estate business, filed its return of income for Assessment Year 2008-09 on 30.09.2008 declaring loss of (-) Rs.6,84,051. The assessee filed a revised return on 14.10.2008 declaring loss of (-) Rs.5,23,751. The revised return was processed under Section 143(1) of the Income Tax Act

Modification to Circular No. 37T of 2017 dated 24th August 2017

February 9, 2018 7065 Views 0 comment Print

VAT registration of the dealers not selling the goods mentioned above are deemed to be cancelled from 30 June 2017, it has become necessary to allow the dealers to remain registered under the MVAT/ CST Act if they sell the above mentioned goods

Modification of description of export item “Ladies Blouse” Textile Product SION J-290

February 9, 2018 1527 Views 0 comment Print

In exercise of the powers conferred under Paragraph 1.03 read with Paragraph 2.04 of the Foreign Trade Policy, 2015-2020, the Director General of Foreign Trade hereby notifies the amendment in description of export item Ladies Blouse of the SION J-290, in the Handbook of Procedures Vol.II as under

Levy of Penal Interest – Delayed Reporting

February 9, 2018 897 Views 0 comment Print

Presently, penal interest is levied for all cases where the bank has enjoyed ineligible credit in its current account with the RBI on account of wrong / delayed / non-reporting of transactions i.e. the currency chest had reported a net deposit.

Telangana govt notifies Waybill for intra-State movement of goods

February 9, 2018 5505 Views 1 comment Print

Government of Telangana State hereby notifies the document known as Waybill that is to be issued by the registered person for intra-State movement of goods.

Gstr 3B Auto-calculate offset liability ,Tax payable & Json File

February 9, 2018 31800 Views 7 comments Print

This file have been added in the 3b excel offline utility which also will help in calculating how to off liability and calculate Payment in specific heads and help keep maintaining records only you have to fill the details in gstr 3b and it’ll calculate the offset liability & payment details thus reducing the time for understanding how much to pay and how to offset liability easily.

Online Information and Database Access or Retrieval Services (OIDAR) – An Analysis

February 9, 2018 27774 Views 5 comments Print

Internet Services are best way of modern life to manage home work, office work and business task. Now days internet services are easy way of entertainment in our daily life. An internet service makes our life comfortable and occupies an important place to solve our problem with free access to various website. OIDAR Service is […]

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