CIT Vs Harbour View (Kerala High Court) We find that the Tribunal went wrong in holding that the possession was not handed over in pursuance of the agreement for sale as contemplated under section 53A of the TP Act. Once the sale agreement comes under the provisions of section 53A of the TP Act, handing […]
V. R. Global Energy Pvt. Ltd Vs ITO (Madras High Court) Counsel argued, and rightly, that when there was no cash involved in the transaction of allotment of shares, provisions of Section 68 of the said Act treating it as unexplained cash credit are not attracted. Learned counsel for the appellant assessee emphatically argued that inasmuch as the source […]
Masala Bond are reckoned as most evolving and effectual debt instrument for the Indian Corporates with more option to blend their debt portfolio to optimize the borrowings and minimize the cost. The objective of Masala Bonds is to fund big projects and pacing the internal growth of the Corporates. The term Masala was used by the International Finance Corporation (IFC) to evoke the culture and cuisine of India.
As assessment for impugned assessment year was not pending on the date of search, therefore, no addition could to be made in assessment framed under section 153A in the absence of any incriminating material found during search.
THE WESTERN MAHARASHTRA TAX PRACTITIONERS’ ASSOCIATION Yadav Vyapar Bhavan, Shivaji Road. 602. Shukrawar Peth, Pune – 411 002 Phone 020-2447 0237. Website : www.wmtpa.org Email : office@wmtpa.org SS / WMTPA / IT representation /18-19 /0918 20th. September 2018 To, Shri Arunji Jaitley, Minister of Finance, Union of India, Now Delhi – 110 001 Sub: Extension […]
In re Kolte Patil Developers Ltd (GST AAR Maharashtra) Applicant asked ‘What is the legal procedure for cancellation of flat which is booked in pre-GST Regime and cancelled in post-GST Regime. Also, GST liability in cases where some small amount is retained, for cancellation (after discussion with customer).’ AAR held that questions posed before us […]
In re Frizo India Private Limited (GST AAR Rajasthan) Applicable GST Rate on supply of Solar Power Generating System- In instant case the nature of work is of Erection, Procurement and Commissioning of Solar Generating System which falls under the ambit ‘Works Contract Services’ (SAC 9954) of Notification no. 11/2017 Central Tax (Rate) dated 28 […]
In re Varun Beverages Limited (GST AAR Uttar Pradesh) How to transfer the portion of input tax credit as belonging to Sandila unit (covered by the infrastructure & industrial investment policy 2012 of the State of Uttar Pradesh for claiming refund of UP GST component paid in cash in the prescribed percentage of policy), lying […]
Dharmakumar C. Kapadia Vs ACIT (Bombay High Court) (i) In terms of Section 48 of the Act, the income taxable under the head ‘capital gains’ is to be computed after deducting from the full value of consideration received on sale of capital asset, the cost of acquisition and improvement of the asset. Section 49 of […]
Northern India CA Federation Vs Central Board of Direct Taxes (Delhi High Court) Northern India CA Federation has filed a writ petition in Delhi High Court against non-extension of Tax Audit Report and the relevant Income Tax Return filing due date for Financial Year 2017-18 (i.e. A.Y. 2018-19). FULL TEXT OF THE HIGH COURT ORDER […]
