"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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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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MAT not payable on share income of member of AOP

ACIT Vs M/s Om Metal Infraproject Ltd. (ITAT Jaipur)

ACIT Vs M/s Om Metal Infraproject Ltd. (ITAT Jaipur) Clause (iic) inserted in Explanation 1 to section 115JB by the Finance Act, 2015 is remedial and curative in nature as it was brought in the statute to provide similar benefit to the member of the AOP which was earlier applicable to the partner of the […]...

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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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State GST Officers can Inspect, Search & Seize Goods under IGST Act

Advantage India Logistics Private Limited Vs The Union of India and others (Madhya Pradesh HC)

Advantage India Logistics Private Limited Vs Union of India (Madhya Pradesh HC) On due of the provisions of Section 4 of the IGST Act, we are of the view that officers appointed under the MPGST Act are authorized to be proper officers for the purpose of IGST and, therefore, the contention of the petitioner that […]...

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