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Join our free webinar on July 7 at 5 PM for insights into 10 recent High Court income tax judgments favoring assessees. Expert analysis by CA Dipak Dama.
In terms of Section 44(1) of the CGST Act, 2017, every registered person, other than an Input Service Distributor, a person paying tax under Section 51 (TDS Collector) or Section 52 (TCS Collector), a casual taxable person and a non-resident taxable person, shall furnish an Annual Return for every financial year on or before the 31st day of December following the end of such financial year.
PCIT Vs M/s. Sakthi Sugers Ltd. (Madras High Court) Issue- Whether the Appellate Tribunal is right in allowing the rental income of the assessee as ‘business income’ instead of ‘income from house property‘ when the principal object of the assessee company is not letting out of properties ? When this matter came up for hearing on 08.12.2017, we posed a […]
Prabhat Agarwal Vs DCIT (Delhi High Court) In this case revenue played a subterfuge, in trying to cover up its omission, and in ante dating the record, in the attempt to establish that such reasons existed, and this court’s interference was not called for. In these circumstances, this court hereby directs the Chief Commissioner concerned […]
Where assessee had independently acquired multiple flats, which, however, were joined together and used by the assessee as a single residential unit, the claim for exemption under section 54 in respect of total investment made towards acquisition of the said flats could not be denied.
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DCIT Vs M/s. B S. Infosolution Pvt. Ltd (ITAT Delhi) ITAT Held that No prudent person with some commercial prudence would pay a hefty premium of Rs. 190/- on a book value of Rs. 82/-, hold it for one year, and then sell the same shares at book value. Further Though the premium is justified […]
MCA vide its notification dated 7th May 2018 notified the Sections 61 of the Companies (Amendment) Act, 2017, through which Section 185 has been amended and reproduced as follows: 1. Loan to Director or firm in which he is interested-Absolutely Prohibited Pursuant to section 185(1), no company shall advance any loan to or give any […]
Introduction Act provides for facilitating the promotion and development as well as enhancing the competitiveness of Micro, Small and Medium enterprises. Categorization of Micro, Small and Medium Enterprises As per Act, The categorization of Micro, Small and Medium is based on investment in Plant and Machinery as below Category of Enterprise Manufacturing Enterprise Service Enterprise […]
Due to high rates charged by Banks many people these days prefer taking Loans from NBFC’s. TDS u/s 194A is attracted to such interest expense against NBFC loan @ 10% if interest payable is > INR. 5,000/-. The confusion which always mints is Whether TDS deducted on Processing Fees too..?? Definition of Interest u/s 2(28A) – […]
Comprehensive Online GST Certification Course by TaxGuru and GST Professionals & MSME – January 2019 Batch (Registration Open – Limited Seats) TaxGuru and GST Professionals announces its January’ 2019 batch and most comprehensive Online GST Certification Course after successfully completing its previous 9 batches with thousand of successful participants. The new batch would cover all the […]
