"29 August 2018" Archive

Setting up of Office of Commissioner (Investigation-Customs) created under CBIC

Circular No. 30/2018-Customs 29/08/2018

Policy matters relating to search, seizure, arrest, prosecution and compounding offences under the Customs Act, 1962 [All legislative matters relating to chapter XIII, XIV and XVI of the Customs Act];...

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GST order Cancelling registration is appealable: HC

M/s Viraat Traders Vs State of Punjab and others (Punjab and Haryana HC)

M/s Viraat Traders Vs State of Punjab and others (Punjab and Haryana HC) Challenge in the present writ petition is to the order dated 23.05.2018 passed by Excise and Taxation Officer Ludhiana-3 cancelling the registration of the petitioner under the Punjab Goods and Services Tax Act, 2017 (in short ‘the Punjab GST Act’) It is...

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Mere investigation wing report not sufficient to treat a transaction as Bogus

ITO Vs Kapil Mittal (ITAT Jaipur)

Finding of AO is based merely on suspicion and surmises without any tangible material to show that the assessee has introduced his own unaccounted income in the share of long term capital gain even otherwise the reliance of the statements recorded by the Investigation Wing, Kolkata wherein without giving an opportunity of cross examinatio...

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Tax Implications on House Property Income

Income Chargeable under the head house property Rental Income from a property whose owner is the tax payer is charged under the head Income from House Property. Rental Income from Subletting In the hand of the owner rental income received by him is charged under the head “Income from House Property” but if a tenant is […]...

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Posted Under: Custom Duty |

HC directs to not to take coercive step for non-filing of GST Returns as migration was pending

M/s. Balaji Construction Company Vs state Of Rajasthan (Rajasthan High Court)

M/s. Balaji Construction Company Vs state Of Rajasthan (Rajasthan High Court) It is stated that the petitioner had applied well in time for registration under the GST Act to enable him to migrate within a specific time period. In spite of various reminders, the concerned authorities have not completed the process of migration and now [&he...

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SC imposes 10 Lakh Penalty on Income Tax Department for giving misleading statement

CIT, Ghaziabad Vs. Hapur Pilkhuwa Development Authority (Supreme Court)

CIT, Ghaziabad Vs. Hapur Pilkhuwa Development Authority (Supreme Court) The Supreme Court on Monday imposed a fine of Rs. 10 Lakh on the Income Tax Department for its casual approach and for giving a totally misleading statement in the case.  This petition for special to leave has been filed by the Commissioner of Income Tax, Ghaziabad...

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No TDS on Soft Purchased and capitalised in books required to be made

Vogue Vestures Pvt. Ltd. Vs Dy. CIT (ITAT Bangalore)

Vogue Vestures Pvt. Ltd. Vs Dy. CIT (ITAT Bangalore)  This issue was now covered by the decision of the Punjab and Haryana High Court in the case of CIT v. Mark Auto Industries Ltd (2013) 358 ITR 43 (P&H). wherein the High court held that in absence of any requirements in law for making deduction of […]...

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GST Practitioner- Registration, Procedure, Exam, Documentation

With the introduction of Goods and Service Tax in India, crores of taxable persons have registered under GST and are now required to comply with various GST compliances. In order to make the compliance easy for businesses registered under GST, the Government has taken various initiatives such as GST Facilitation Centres and GST Practition...

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Sec. 206C Orders passed after reasonable period are void despite no limitation period

ITO Vs M/s Eid Mohammad Nizamuddin (ITAT Jaipur)

ITO Vs Eid Mohammad Nizamuddin (ITAT Jaipur) A consistent view has been taken by the various Hon’ble High Courts on this issue that when no limitation is provided in the statute then a period of four years is considered as reasonable for passing the order U/s 201(1)/201(1A) of the Act. The provisions of Section 206C […]...

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Tax laws recognise siblings relationship

Article discusses Expenses incurred by An Assessee for his Sibling for which he can claim Tax Benefit under Income Tax Act, 1961 and includes Tax Benefit in respect of Leave Travel Assistance (LTA), Interest on education loan, Medical expenses incurred for medical treatment of siblings with disability and Exemption of gifts received. Sibl...

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Posted Under: Custom Duty |

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