"10 July 2018" Archive

Let your Investments Evolve With Your Life

As we progress in life, our goals and milestones are modified. Not only have we changed the way we live but we also change our perception of the future. Our life’s goals include factors such as travelling, medical benefits, financial independence and zero liabilities. ...

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Posted Under: Finance |

Extend Income Tax Return due date & Relax application of Section 234F

Representation On Relaxing The Application Of Section 234F Of Income Tax Act And Extension Of Due Date For Filing Income Tax Returns Of Individuals And Small Businesses...

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Posted Under: Finance | ,

Join 4 days certification course on GST by MSME

JOIN 4 day GST CERTIFIED PRACTITIONER course of Ministry of M.S.M.E. at Pune, Trichy, Chennai, Coimbatore, Kolhapur, Mumbai, New Delhi, Jaipur, Hyderabad and Cochin in July 2018 and August 2018 starting from 14th July 2018. WHAT THE GST CERTIFICATION COURSE AIMS AT? The Course aims to facilitate the Graduating Students, Graduates, Post Gr...

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AAR Karnataka allows UltraTech Cement to withdraw advance ruling

M/s UltraTech Cement Limited (GST AAR Karnataka)

Applicant has sought for Advance Ruling on the question that Whether the amount paid to dealer towards 'rate difference' post supply can be considered for the purpose of arriving at the 'transaction value' in terms of Section 15 of the Central Goods and Service Act'2017 ?. But the Applicant requested to permit them to withdraw the applica...

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AAR Karnataka allows withdrawal of advance ruling on applicability of GST for slump sale

In Re M/s Zenith Controls & Systems Private Limited (GST AAR Karnataka)

Applicant has sought for Advance Ruling on the applicability of GST for slump sale and also GST applicability on the stock which is part of slump sale. But the Applicant requested to permit them to withdraw the application filed for advance ruling vide their letter dated 17.04.2018, even prior to personal hearing....

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AAR Karnataka allows withdrawal of advance ruling on Auxiliary services- Export of Services

In Re M/s H&M Hennes & Mauritz India Pvt. Ltd. (GST AAR Karnataka)

In Re M/s H&M Hennes & Mauritz India Pvt. Ltd. (GST AAR Karnataka) Whether the auxiliary services provided by H&M Hennes & Mauritz India Private Limited to Plus Trading Far East Limited, Hong Kong in terms of Auxiliary Services Agreement dated 19th January 2015 (effective from 01 February 2015) qualify as Export of Service...

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Penalty levied by IRDA for non-compliance of Regulation is allowable

Microsec Insurance Brokers Ltd. Vs ITO Ward (ITAT Kolkata)

This appeal filed by the assessee is directed against the order of Ld. CIT (Appeals) – 18, Kolkata dated 15.04.2016 and the solitary issue involved therein relates to the disallowance of Rs. 5,00,000/- made by the A.O. and confirmed by the Ld. CIT(A) on account of penalty charges paid to Insurance Regularly and Development Authority (IR...

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Brand Owner liable to pay GST on Profit earned by allowing brand use

In Re. United Breweries Limited (GST AAR Karnataka)

In Re United Breweries Limited (GST AAR Karnataka) (a) Whether beer bearing brand/s owned by M/s United Breweries Limited (Brand Owner/UBL) manufactured by Contract Brewing Units (CBUs) out of the raw materials, packaging materials and other input materials procured by it and accounted by it and thereafter selling such beer to various par...

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Bogus LTCG addition based on statement of others not sustainable if Assessee not been provided copy of such statement with Opportunity to cross-examination

ITO Vs Shri K. Ramakrishna Reddy (ITAT Hyderabad)

Ld. CIT(A) erred in treating the income offered by the assessee under the head income from capital gains as against under the head income from other sources as assessed by the Assessing Officer treating the same as income from undisclosed sources....

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Posted Under: Finance | |

No penalty on disallowance of Deduction U/s. 54B claimed under a bona fide belief

Nitinkumar Desai Vs ACIT (ITAT Ahmedabad)

Where assessee after, investing capital gain in purchase of new agricultural land within prescribed time, harbored a bona fide belief that there was not any tax liability of capital gain and substantiated his explanation with relevant evidence, imposition of penalty under section 271(1)(c) was unjustified....

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