Sponsored
    Follow Us:

Archive: 27 February 2019

Posts in 27 February 2019

NAA found builder Guilty of profiteering for not passing ITC benefit

February 27, 2019 1572 Views 1 comment Print

Shri Ashok Khatri Vs M/s S3 Infra Reality Pvt Ltd (NAA) From the documents placed on record and the DGAP’s report it is evident that the Respondent has sold 780 units out of 816 residential units, out of which for 29 units there was no consideration paid after introduction of GST, hence the profiteered amount […]

Addition for non-existent income from carbon credits is not acceptable

February 27, 2019 534 Views 0 comment Print

Assessee submitted that they have not received any carbon credit during the year under consideration i.e. AY 2012-13. Assessee submitted that addition made by AO on account of non-existence income ought to be deleted.

Bogus ITC Case: HC denies Bail as bail of co-accused already been dismissed

February 27, 2019 1083 Views 0 comment Print

Sandeep Goyal Vs Union of India (Rajasthan High Court) Petitioners have filed this petition under Section 439 Code of Criminal Procedure, 1973 seeking regular bail in Criminal Complaint No.35/2018 for offence under Sections 132(1)(b)(c)(d)(f)(i) & (i) of the Central Goods and Service Tax Act, 2017 read with Section 132(1), (i) & (iv) of Central Goods […]

Transaction not Bogus for mere non-existence of parties at given address

February 27, 2019 3636 Views 0 comment Print

The assessee has duly discharged its initial onus by submitting sufficient proof substantiating purchase and the payment is also routed through banking channel, simply because of non-existence of parties at the given address, the transaction cannot be treated as bogus and no addition can be made accordingly.

Unconscionability As A Ground To Avoid Agreement

February 27, 2019 14805 Views 0 comment Print

There are various grounds for avoiding an Agreement like Ambiguity, conflicting terms, vague timeline etc. Unconscionability is one such ground on which an agreement can be avoided. Unconscionable contracts are those contracts which are heavily inclined towards one party and impose unfair, harsh conditions on the other party.

Rejection of refund for Re-organization of Department after GST unjustified

February 27, 2019 1548 Views 0 comment Print

The adjudicating authority has rejected the appellant’s claim of it having made the refund claim on 27.06.2017. The first appellate authority has also concluded the date of filing of the refund claim was 12.07.2017 only as against which the appellant contends that there was an attempt to file the refund claim on 27.06.2017

CBDT Revises Corporate Tax collection Targets for FY 2018-19

February 27, 2019 936 Views 0 comment Print

Revision of the target for collection of Corporation Tax from Rs.6,21,000 Crore to Rs. 6,71,000 Crore under Revised Estimates (RE), the region-wise revised targets for Corporation Tax fixed on the basis of current trends of growth and revenue potential of the regions, are as under: –

AO bound to compute total income in conformity with ALP determined by TPO

February 27, 2019 3921 Views 0 comment Print

In view of section 92CA(4) as substituted by Finance Act, 2007 w.e.f. 1-6-2007, AO was bound by the order passed by TPO as he is required to compute total income in conformity with the ALP determined by TPO.

Govt notifies persons who may file an application for initiating CIRP

February 27, 2019 1071 Views 0 comment Print

Central Government hereby notifies following persons who may file an application for initiating corporate insolvency resolution process against a corporate debtor before the Adjudicating Authority, on behalf of the financial creditor: –

Grant of Development Rights is taxable under GST

February 27, 2019 1452 Views 0 comment Print

In re Experion Developers Pvt. Ltd. (GST AAR Haryana) Whether grant of Development rights in the current situation would attract the Levy of GST? If liable, what shall be valuation modus Operandi to tax in GST? Notification 4/2018-CGST(Rate), dated 25.01.2018 notified that the liability to pay tax in case of transfer of development rights in […]

Sponsored
Sponsored
Search Post by Date
February 2025
M T W T F S S
 12
3456789
10111213141516
17181920212223
2425262728