"14 February 2019" Archive

Guidelines for representation of cases before CIT(A)

F.No.279/Misc/M-124/2018-ITJ (14/02/2019)

Undersigned is directed to state that since the monetary limit of tax effect for filing of appeals to ITAT against the order of CIT(A) has been raised to Rs. 20 lakhs vide CBDT Circular No 3 of 2018 dated 11.7.2018, it is expedient that the cases are properly defended before the CIT(A), as the department will have no recourse to any appea...

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I-T officer gets 7-year imprisonment; mother, 90, jailed in DA case

SEVEN YEARS RIGOROUS IMPRISONMENT WITH FINE OF RS.3.5 CRORE TO THEN ADDITIONAL COMMISSIONER OF INCOME TAX IN DISPROPORTIONATE ASSETS CASE; THREE OTHER ACCUSED ALSO SENTENCED The Special Judge, CBI Cases, Dehradun (Uttarakhand) has sentenced Shri Swetabh Suman(an IRS Officer of 1988 Batch), the then Additional Commissioner of Income Tax, J...

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Posted Under: Income Tax |

No Protective addition against Company if Dept already assessed Company MD

Ms Inderpuri Express Couriers Pvt Ltd Vs DCIT (ITAT Mumbai)

Ms Inderpuri Express Couriers Pvt Ltd Vs DCIT (ITAT Mumbai) The AO has made protective addition in the hands of the assessee towards estimated commission income derived from hawala transactions on the ground that certain incriminating materials were found in the premises of the assessee and further, one of the employees has stated that th...

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Date of acquisition of capital asset is date of allotment letter

Pr.Commissioner  of Income Tax­-3 Vs Vembu Vaidyanathan (Bombay High Court)

PCIT Vs Vembu Vaidyanathan (Bombay High Court) The controversy between the assessee and the revenue revolves around the question as to when the assessee can be stated to have acquired the capital asset. The assessee argued that the residential unit in question was acquired on the date on which the allotment letter was issued by the [&hel...

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In-depth analysis of overriding effect of Section 43B of I.T. Act, 1961 

CA Gaurav Pahuja Background While the issue regarding the deduction of employer’s contribution made after due date, in funds set up for welfare of employees is well settled now, the practice of disallowing the claim of the assessee employer on account of delayed deposit of employee’s contribution is continued by the Income Tax Departm...

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Posted Under: Income Tax |

3 New Functionality / Improvement on GST Portal

GST Registration– For Taxpayer Suo-moto cancelled taxpayers were not able to file revocation of cancelled registration application, as they were asked to file return after the month (also), in which cancelation order was issued (till filing of this application) and same (the later months) was also not shown in drop down list for fil...

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Posted Under: Income Tax |

No Anti profiteering on sale of Jockey Socks as tax rate was same pre & post-GST

Kerala State Screening Committee on Anti-profiteering Vs M/s Sudarsans (NAA)

Kerala State Screening Committee on Anti-profiteering Vs M/s Sudarsans (NAA) DGAP has submitted in his report that the rate of tax on the product (Jockey Socks 7052 FS ASSTD) remained same in the pre-GST and the post- GST era. Moreover, the pre-GST and post-GST base prices (excluding tax) had remained the same. Therefore, the provisions [...

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No Anti profiteering if Tax Rate on product remains same pre & post-GST

Kerala State Screening Committee on Anti-profiteering Vs M/s Emke Silks & Garments Pvt. Ltd. (National Anti-Profiteering Authority)

Kerala State Screening Committee on Anti-profiteering Vs M/s Emke Silks & Garments Pvt. Ltd. (National Anti-Profiteering Authority) It is clear from the perusal of the facts of the case that the product i.e. Shirts (Design 689) was exempted from the Central Excise Duty, vide Notification No. 30/2004-CE dated 09.07.2004 and only attra...

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No Anti profiteering on sale of Denim Jeans as tax rate was same pre & post-GST

Kerala State Screening Committee on Anti-profiteering Vs M/s Emke Silks & Garments Pvt. Ltd. (National Anti-Profiteering Authority)

DGAP has submitted in its report that the rate of tax on the product Trousers (Denim Jeans Design 899) had remained the same in the pre-GST and the post- GST era. Moreover, the pre-GST and post-GST base prices (excluding tax) had also remained the same. Therefore, the provisions of Section 171 of the CGST Act, 2017 have not been contraven...

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ITAT Guideline for expeditious hearing of cases referred to Special Benches & Third Members

Doshi Accounting Services Pvt Ltd Vs DCIT (ITAT Ahmedabad Special Bench)

Wherever special benches are constituted, the special benches shall, as far as possible, commence hearing within 120 days of the benches being constituted. In the cases in which the respective bench is not in a position to commence hearing of the matter within 120 days for any specific reason, e.g. directions of the Hon’ble Court above ...

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