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Archive: 11 March 2018

Posts in 11 March 2018

Live Course on 360 degree Analysis of Input Tax Credit from a Litigation Perspective

July 14, 2024 2472 Views 0 comment Print

Join CA Sachin Jain for a live course on Input Tax Credit from a litigation perspective. Gain practical insights and master ITC complexities. Register now!

Disallowance of expenses cannot be made by mere intimation U/s. 143(1)(a)

March 11, 2018 6132 Views 0 comment Print

Bajaj Auto Finance Ltd. Vs. CIT (Bombay High Court) While mere making of provision for bad debts will not by itself (on application of amended law) entitle the party to deduction, yet it would be a matter where the assessee should be given an opportunity to establish its claim. This by producing its evidence of […]

Deduction U/s. 54F cannot be denied for Non-completion of construction of new residential house within specified period of three years

March 11, 2018 3222 Views 0 comment Print

Once assessee had invested sale proceeds of existing asset for the purpose of construction of new house within the time period specified under section 54F he could not be denied the benefit under the section, even if the assessee finally could not construct the new house within the specified period of three years.

Registration U/s. 12AA cannot be denied for Non-submission of Form 10B at the time of registration

March 11, 2018 2001 Views 0 comment Print

At the outset, Learned A. R. submitted that assessee is running a school and had been claiming exemption u/s 10(23C)(iii) and now the assessee had applied for registration u/s 12AA which the CIT (Exemptions) has refused relying on the provisions of section 13(1)(c) of the Act.

Interest U/s. 244A on refund of excess SA tax payable from self-assessment tax payment date

March 11, 2018 4473 Views 0 comment Print

Refund under section 244A(1)(b) of the Act on self assessment tax is to be paid from the date of payment of self assessment tax till the date of grant of refund.

No disallowance U/s. 40(a)(ia) if recipient already paid taxes on sources of income

March 11, 2018 3099 Views 1 comment Print

Dis allowance under section 40(a)(ia) on the ground that the assessee had failed to deduct the tax at source on payment made was not justified as the recipient had already paid the taxes on the sources of income and due certificate was also furnished by the assessee.

No addition in case of unabated assessment which had attained finality on search date if no incriminating material found during search

March 11, 2018 1590 Views 0 comment Print

Understand the scope of Section 153A in the case of Anurag Dalmia Vs DCIT. Analysis of unabated assessments, incriminating material, and additions made post-search.

Agreement date of purchase relevant when physical possession of property given at a later date to Compute Short Term or Long Term Capital Gain

March 11, 2018 12606 Views 0 comment Print

The Mumbai bench of Income Tax Appellate Tribunal ( ITAT ) has ruled that date of possession is not material fact for deciding the period of holding to Compute Short Term or Long Term Capital Gain.

5 Trouble Shooting Tips on filing of Form GSTR 3B, GSTR-1 & on Login issues

March 11, 2018 32073 Views 18 comments Print

Taxpayer has paid all liability along with late fees and interest, but is unable to file Form GSTR 3B due to system error. Will he/she have to pay more late fees?

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