"20 August 2018" Archive

Filing of references for restoration of struck-off/de-registered companies under Companies Act, 2013

F. No. 225/423/2017-ITA-II(Part) 20/08/2018

Vide letter dated 29.12.2017 in file of even no. (copy enclosed), the Board had issued necessary directions regarding filing of references before NCLT for restoration of struck-off/de-registered companies under the Companies Act, 2013....

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Electronic Liability Register under GST law

Hello friends, greetings for the day in the current article we will discuss about electronic liability register. On the common portal each registered taxpayer will have one electronic register called the electronic liability register and two electronic ledgers namely electronic cash ledger and electronic credit ledger. These register and ...

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Posted Under: Income Tax |

CBDT Revises list of cases to be contested on Merit irrespective of tax effect

F No 279/Misc. 142/2007-ITJ (Pt) 20/08/2018

CBDT amends its Circular No. 3 of 2018 dated 11.07.2018 to Provide the revised list of cases in which CBDT can file appeal with ITAT, High Court, Supreme Court on Merits irrespective of tax effect. ...

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Manual Income Tax Scrutiny Criteria for financial-year 2018-2019

Instruction No. 04/2018 20/08/2018

CBDT has released parameters for manual selection of Income Tax Returns for Complete Income Tax Scrutiny during financial year 2018-19 vide Instruction No. 04/2018 Dated: 20th August 2018....

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Extend time limit to file GST return 3B due to Non Working of GST Website

Gujarat Sales Tax Bar Association has Request to extend time limit to file GST return 3B due to Non Working of GST Website by its representation dated 20th August, 2018 to GST Council. Text of the Representation is as follows:- To, Hon. Chairman, GST Council, New Delhi. The Hon. Chief Commissioner of State Tax -SGST, […]...

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Sec. 68 addition of undisclosed credit liability justified in case of non-satisfactory explanation

Pawan Kumar Garg Vs CIT (Punjab and Haryana HC)

Pawan Kumar Garg Vs CIT (Punjab and Haryana HC) Conclusion: If the explanation offered by assessee regarding nature and source of sum credited in his books of account was not found satisfactory by AO, the said sum could be charged to income tax under section 68. Held: During assessment proceedings, AO noted that credit liability […...

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FAQ / Draft of gift deed, List of Relatives for Tax free Gift

Article contains FAQ on Gift, ,list of relatives from whom an individual can receive the gifts without any income tax liability and also giving below Draft of gift deed....

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Posted Under: Income Tax | ,

Scrutiny Assessment only through ‘E-Proceeding’ facility subject to 7 exceptions

Instruction No. 03/2018 20/08/2018

CBDT has vide Instruction No. 03 dated 20th August 2018 directs that In all cases (subject to exceptions provided), where assessment is required to be framed under section 143(3) of the Act during the year 2018-19, assessment proceedings shall be conducted electronically through the 'E-Proceeding' facility. ...

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No disallowance U/s. 14A in absence of actual receipt of income which is not includible in total income

Pr. CIT, Nagpur. Vs Ballarpur Industries Limited (Bombay High Court- Nagpur Bench)

The expression does not form part of the total income in Section 14A envisages that there should be an actual receipt of the income, which is not includible in the total income, during the relevant previous year for the purpose of disallowing any expenditure incurred in relation to the income in question...

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Helicopters Hire services Amount to ‘Supply of Tangible Goods Service’

M/s Escorts Limited Vs CST (CESTAT Delhi)

M/s Escorts Limited Vs CST (CESTAT Delhi) It is not in dispute that the appellant is in possession of permit to operate ‘Non-scheduled Air Transport Services and have been permitted to use Bell-407 helicopter with the sitting capacity of six persons. The permit further stipulate that it is for passenger services and has been renewed [&h...

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