"23 August 2018" Archive - Page 2

Guide to new Tax Audit Report Clauses WEF 20.08.2018

 Implementation Guide w.r.t. Notification No. 33/2018 dated 20.07.2018 effective from 20.08.2018 – (23-08-2018) The Central Board of Direct Taxes, vide Notification No. 33/2018/F No. 370142/9/2018-TPL dated 20th July 2018, notified amendments to Form No. 3CD enhancing substantially the reporting requirements and the role of tax aud...

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Posted Under: Income Tax |

Clarify on refund of GST to duty free shops on goods / Services supplied by Indian supplier: HC

Shri R. Gogoi and Shri Alok Barthwal Vs Shri Prasanna Prasad ( Madhya Pradesh High Court)

A two-judge bench of the Madhya Pradesh High Court has asked the Central Board of Indirect Taxes and Customs (CBIC) to issue a clarification regarding the leviability of the Goods and Services Tax (GST) on the goods supplied through the duty-free shops in the International Airports in India....

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Intelligence based Enforcement action- Tax payers allotted to Central Tax Authorities

CCT’s Ref. No. CCW/GST/74/2015 23/08/2018

It is noticed that the officers of the Department have been conducting audit of tax payers allotted to state authorities and whenever any modus operandi is noticed in evading tax in a particular trade, the audits are confined to State allotted taxpayers only leaving the tax payers allotted to central tax authorities unattended. This resul...

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No Service Tax on Recovery of Cost incurred for VPN from Sub-Brokers

M/s Alankit Assignments Limited Vs CST (CESTAT New Delhi)

The present appal is filed against the of Order-in-Original No. DEL-SVTAX-ADJ-COM-48-53-13-14 dated 31.03.2014 passed by the Commissioner of Service Tax (Adj.), New Delhi. The period of dispute is from 01.04.2007 to 31.03.2012. 2. Vide the impugned order, the Commissioner has adjudicated the demand raised in six show cause notices issu...

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Correct GST Registration applied with PAN of Partner instead of Firm: HC to GSTN

Bengali Lal & Sons Vs State of U.P. (Allahabad High Court)

Bengali Lal & Sons Vs State of U.P. (Allahabad High Court) Heard learned counsel for the petitioner; Shri R.C. Shukla, learned counsel for the respondents no. 5 and 6 as well as learned Standing Counsel appearing for the State-respondents no. 1 to 4. The petitioner is a partnership firm and had applied for registration under […...

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Penalty u/s. 271E cannot be levied in case of bonafide belief

Ms. Orison Transport Vs DCIT (ITAT Cuttak)

Penalty u/s.271E was not leviable as the belief of assessee that return of advance from customers was not prohibited by section 269T was a bonafide belief....

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If decisions of non-jurisdictional High Courts are in conflict with each other than decision favourable to assesse must be followed

Income-tax Officer Vs Upkar Retail (P.) Ltd. (ITAT Ahmedabad)

ITO Vs Upkar Retail (P.) Ltd. (ITAT Ahmedabad) We find guidance from the judgment of Hon’ble Supreme Court in the matter of CIT v. Vegetable Products Ltd. [1973] CTR (SC) 177 : [1972] 88 ITR 192 (SC) Hon’ble Supreme Court has laid down a principle that “if two reasonable constructions of a taxing provision are […]...

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ITAT deletes Addition for Scrap on Last day of Financial Year not included in Stock

M/s Hero Moto Corp Ltd. Vs DCIT (ITAT Delhi)

M/s Hero Moto Corp Ltd. Vs DCIT (ITAT Delhi) As regards to Ground, relating to disallowance of cost of scrap material amounting to Rs.6.34 lacs, it can be seen that in the course of the business of manufacturing, the process generates some scrap on account of rejection of components, obsolescence of components, etc. In the […]...

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CJI Launches Applications to Facilitate Litigants and Lawyers

Press Information Bureau Government of India Ministry of Electronics & IT Date: 23-August-2018 CJI Launches Applications to Facilitate Litigants and Lawyers  The Chief Justice of India Hon’ble Justice Dipak Misra launched various applications for the benefit of the litigants and lawyers during the third week of August, 2018 at an...

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Posted Under: Income Tax |

Transfer Pricing: Functionally different companies cannot be taken as comparable

M/s. Enchanting Travels Pvt. Ltd. Vs The Income Tax Officer (ITAT Bangalore)

M/s. Enchanting Travels Pvt. Ltd. Vs The Income Tax Officer (ITAT Bangalore) We find that TPO has already taken the total 10 comparables and with respect to 8 comparables, assessee has no objections. With respect to Kerala Travels Interserve Ltd., we have carefully perused its financial statements and we find the main revenue is from dif...

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