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Archive: 09 June 2018

Posts in 09 June 2018

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

May 15, 2024 6447 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.

Reassessment Proceeding initiated after 6 years is not valid; Department must prove dispatch of notice

June 9, 2018 4788 Views 0 comment Print

After issuing notice and after due dispatch, it must be placed in hands of the serving officer like the post office by speed post or by registered post etc., by which the officer issuing notice may not have control over the said notice after issuance of the said notice. It must be properly stamped and issued on the correct address to whom it has been Mere signing of notice cannot be equated with the issuance of notice as contemplated under Section 149 of the IT Act.

Leasing of immovable property & support services is mixed supply

June 9, 2018 3381 Views 0 comment Print

In re  Awla Infra (AAR Haryana) ‘Whether GST is exempt or is applicable on the Private Entrepreneurs Godowns built under the PEG-2008 scheme of the FCI and leased out to the Nodal Agency (UPSWC) on ‘Lease and services basis’ for the storage of FCI’s food grain stocks (Wheat)’? Ruling In view of the above discussions and […]

ITAT deletes addition for jewellery in excess of limit prescribed under CBDT Instruction No. 1916

June 9, 2018 3447 Views 0 comment Print

ITAT held that the excess jewellery found in the case of assessee, his parents, his wife, their children and the HUF was very nominal, and was very much reasonable, keeping in mind the riches and high status and more customary practices.

Facebook to explain over reports of data sharing without consent

June 9, 2018 609 Views 0 comment Print

Recently there are media reports claiming that Facebook has agreements which are allowing phone and other device manufacturers’ access to its users’ personal information, including that of their friends without taking their explicit consent. The Government of India is deeply concerned about reports of such lapses / violations.

CBDT dedicates fortnight for pending appeal effect – rectification matters

June 9, 2018 1020 Views 2 comments Print

Redressal of public grievances and taxpayer service is an area of top priority for the CBDT and the Income Tax Department. In this connection, a fortnight from 1st June to 15th June, 2018 has been dedicated for expeditious disposal of pending appeal effect and rectification matters.

Expense cannot be disallowed for mere Non-debiting in books of account

June 9, 2018 6675 Views 0 comment Print

Non-debiting of the expenditure in the books of account is not relevant for allowability of the same as long as the expenditure is really incurred and is deductible as per law

Restoration of DIN after Condonation of Delay Scheme, 2018

June 9, 2018 12633 Views 2 comments Print

In this article, we will discuss about the Condonation of Delay Scheme 2018, the Procedure to be followed and how DIN can be restored even after Condonation of Delay Scheme (CODS Scheme, 2018). Background MCA had disqualified over 3 lakh directors vide its circular dated 6th September, 2017 and 12th September, 2017 respectively. The Disqualification […]

Mandatory to Record UIN on invoice issued to Foreign Diplomatic Missions/Embassies/Consulates and UN Organizations

June 9, 2018 1353 Views 0 comment Print

Complaints have been receved regarding unwillingness of many big brands of groceries, clothing, retail stores, airline operators, travel agents and e-commerce websites, etc. to record UINs on invoices issued to Embassies, Missions, Consulates and UN Organizations.

Pear Tree & Equity Investments – If you give up when it’s winter…

June 9, 2018 1140 Views 0 comment Print

I am investing in equity mutual funds since last 1 year and my returns are negative, may be my mutual fund schemes are not doing good, may be I should go for other top performing scheme or dump the existing schemes or may be equity market as a whole is so risky let me stop investment… Many investors have these thoughts. If you are one of those who have similar kind of questions or doubts, go ahead and read this blog.

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