"October, 2018" Archive

Service of Notice under GST & Validity of notice by affixation

Kashi Bartan Bhandar Vs State of UP (Allahabad High Court)01/01/1970

Kashi Bartan Bhandar Vs State of UP  (Allahabad High Court) The notice under the CGST Act is required to be served in accordance with the provisions of Section 169 of the Act which provides that it can be served by giving or tendering it directly or by messenger to the person concerned or to a […]...

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Securitization of lease receivables is a taxable receipt in the year of securitisation

L & T Finance Limited Vs DCIT (Bombay High Court)01/01/1970

Whether on the facts and in the circumstances of the case and in law, the Tribunal was right in holding that the amount of Rs.1.69 Crores credited to the profit and loss account on account of securitization of lease rentals receivable in subsequent years is chargeable to tax in the assessment year 2002-03 ?....

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CIT cannot pass a revision order unless assessee is given opportunity of being heard

Ambuja Cements Limited Vs CIT (ITAT Mumbai)01/01/1970

Ambuja Cements Limited Vs CIT (ITAT Mumbai) Section 263(1) of the Act obligates the Commissioner to give the assessee an opportunity of being heard before passing of his order. No doubt the Commissioner is not disentitled to consider a point which is not stated in the notice so issued. However, the obligation to given an […]...

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No deduction U/s. 80-IB(10) if Assessee utilises only small part of eligilble FSI

ITO Vs J R construction (Gujarat High Court)01/01/1970

Where assessee utilized only a small part of eligilble FSI remaining part was sold, then assessee was not entitled deduction under section 80IB. In respect profits assessee for sale of unutilized part....

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Set off of unabsorbed business losses against capital income on slump sale

Gouranga Cement Pvt.Ltd. Vs DCIT (ITAT Kolkata)01/01/1970

Gouranga Cement Pvt. Ltd. Vs DCIT (ITAT Kolkata) It is undisputed fact that the assessee has the earned the long term capital income by way of transfer of the business assets such as factory building, Plant & Machinery, electric installation under the head slum sale. Thus the nature of LTCG is in the nature of […]...

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No VAT on dyes & chemicals washed away during Job work & get embedded into final product.

M/s A P Processors, Vs State of Haryana (Punjab and Haryana High Court)01/01/1970

Whether on the facts and in the circumstances of the case, the learned Tribunal was justified in upholding the levy of tax on chemicals used as consumables in the process of job work of dyeing of fabric by assuming that property in the goods has passed on to the principals?...

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Adjudicating Authorities & Appellate Tribunal under Benami Property Law- Reg.

Order No. S.O. 5602(E) 31/10/2018

section 26 of the Benami Act provides that the Adjudicating Authority shall not pass order after the expiry of one year from the end of the month in which the reference has been received by it from the Initiating Officer and whereas, on the date on which the Adjudicating Authority under the Benami Act shall discharge the functions under ...

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Reopening of assessment not invalid for filing of return with wrong jurisdiction

Smt. Vidhya Poonia Vs ITO (ITAT Jaipur)01/01/1970

Smt. Vidhya Poonia Vs ITO (ITAT Jaipur) AO at the time of initiation of proceedings under section 148 has to form the belief on the basis of the material available which is sufficient for coming to the conclusion that prima facie income assessable to tax has escaped assessment, therefore, filing of return with wrong jurisdiction could [&...

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MVAT: e-CST module in MAHAGST portal modified to address issues

Trade Circular No. 31T of 2018 31/10/2018

The department has received representations from trade, stating difficulties in obtaining e-CST declarations/certiticates for period 2016-17 due to incorrect entries filed by dealer while filing annual returns u/s 20(4)(b) of MVAT Act, 2002.The present e-CST module in MAHAGST portal is modified to address above mentioned issue...

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Tax Audit Due date extension: Status of Writ filed in various High Courts (Updated on 31.10.2018)


Here we have compiled Status of Writ Filed in Various High Court for Extension of Tax Audit Due Date. As per our knowledge 12 writ petition been filed with various High Courts out of which Six Writ petition been already disposed off, Five are pending and status of one is not known to us. 1. […]...

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