"09 September 2018" Archive

E-Way Bill System : Forthcoming changes/ improvements

E-Way Bill System- Forthcoming changes/improvements in E-Way Bill System After studying the suggestions and feedbacks of the stakeholders of the e-way bill system, it has been decided to add the following changes/improvements in the e-way bill system to help the tax payers in complying with the GST processes and rules. Most of them are va...

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S. 271D / 271E Penalty not leviable on genuine Cash transaction of convenience

Shri Tej Narayan Agarwal Vs Addl. CIT (ITAT Hyderabad)

Shri Tej Narayan Agarwal Vs Addl. CIT (ITAT Hyderabad) Amount received and repaid by the assessee subsequently is not a loan. This is a transaction done on behalf of his children to accommodate tham in obtaining DD’s without charges and cannot be considered as taking of loan or repayment of loan in cash. Facts of […]...

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Penalty U/s. 271A justified for Failure to maintain books of account in Violation of section 44AA

Vinita Ranka Vs ITO (ITAT Jaipur)

Vinita Ranka Vs ITO (ITAT Jaipur) There is no dispute that during the course of assessment proceedings the AO noted that the bank transactions including the deposit in the bank and outward transaction are more than Rs. 4 Crores. The assessee then filed revised computation of income and admitted the turnover of more than Rs. […]...

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UP VAT: No interest can be levied on turnover not admitted by dealer

Union Of India Vs The Commissioner, Trade Tax, U.P. Lucknow (Allahabad High Court)

Union Of India Vs The Commissioner, Trade Tax, U.P. Lucknow (Allahabad High Court) In the present case it is an admitted fact that the revisionist disputed the liability of payment of tax and that the revisionist never admitted liability to pay any tax on the transaction in question and this fact that the revisionist is […]...

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Mere Hoarding Renting not amounts to ‘Advertising Agency Service’

Vasantham Outdoor Advertising Pvt. Ltd. Vs Commissioner of Central Excise (CESTAT Chennai)

Vasantham Outdoor Advertising Pvt. Ltd. Vs Commissioner of Central Excise (CESTAT Chennai) It is evident that the appellant was only renting out the hoardings which were either owned by them or leased to them, to various advertising agencies. There is no allegation that appellant had themselves made prepared displayed or exhibited any adv...

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Acid oil produced by conscious process of soap stock liable to excise duty

Raha Oils (P) Ltd. Vs Commissioner of Central Excise & Service Tax (CESTAT Chennai)

Raha Oils (P) Ltd. Vs Commissioner of Central Excise & Service Tax (CESTAT Chennai) it is pertinent to note that the dispute in this appeal is not on the excisability or otherwise of the ‚Soap Stock‛. The nub of controversy is whether ‘Acid Oil’ and ‘Soap Sludge’ which are obtained by further conversion of such […]...

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CIT (Appeals) cannot set aside an Assessment Order: ITAT Delhi

Shri Sanjay Thakur Vs The D.C. I.T. (ITAT Delhi)

Shri Sanjay Thakur Vs The DC IT (ITAT Delhi) Powers of the CIT(A) have been set out in section 251 of the Act. The CIT(A) has more power to send the matter back to the file of the AO for making fresh decision on the issue. Once the assessment order was quashed the CIT(A) has transgressed […]...

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How to File GSTR-11 for Inward Supplies with FAQs

Frequently Asked Question on GSTR-11 Q.1 What is Form GSTR-11? Ans: Form GSTR-11 is to be filed by persons who have been assigned a Unique Identity Number (UIN). It is a statement of inward supply of goods or services or both received by an UIN holder. Q.2 Who needs to file Form GSTR-11? Ans: Persons […]...

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Provisions Relating To Nil Return Under GST

When it comes to return filing one question always hinders into the minds of the taxpayer that in case of no transactions, is it mandatory to file the NIL GST return?...

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No Service Tax on Construction of Residential Complex for Employees

Commissioner of Central Excise Vs The Principal Commissioner of Service Tax (Karnataka High Court)

Commissioner of Central Excise Vs. Principal Commissioner of Service Tax (Karnataka High Court) The ‘Residential Complex’ in question was undertaken to be constructed by the Respondent Assessee M/s. Nithesh Estates Limited for ITC Limited under the Contract dated 01/04/2006. It is equally undisputed before us that the construction act...

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