CBI Arrests Two Superintendents of GST In A Bribery Case of Rs. One Lakh The Central Bureau of Investigation has arrested two Superintendents posted at the GST office, Pune (Maharashtra) for demanding and accepting a bribe of Rs. One lakh from the complainant. A case has been registered against the two Superintendents of GST, Pune […]
Where there were no incriminating materials found with respect to the disallowance of expenditure made by AO, addition could not be made under section 153A by reopening the assessment on the matter, which was examined earlier during original assessment.
Merely because PAN is active, it cannot be presumed that the assessee is alive and notice for reassessment be issued in the name of dead person, more particularly, when the department was made aware about the death of the assessee prior to issuance of the notice.
Article Contains updates on Notifications/ Circulars issued by MCA, SEBI, RBI, BSE, NSE in February 2019 and on Recent Important NCLT Order. Updates includes updates on The Companies (Significant Beneficial Owners) Amendment Rules, 2019 – 8 February 2019, The Companies (Prospectus and Allotment of Securities) Second Amendment Rules, 2019, The Companies (Adjudication of Penalties) Amendment […]
Forfeiture of advance/deposit suffered by the assessee-company towards proposed purchase of plot, unilaterally deducted by HSIDC was a capital loss not a revenue loss as loss incurred was in the transaction relating to and for acquisition of a land/plot which was a capital asset.
From 1/4/2019, turnover Limit for eligibility under Composition Scheme for Goods has been increased. The limit of annual turnover in the preceding financial year for composition option is increased from Rs. 1 crore to 1.5 crore.
Ms. Edelweiss Capital Ltd. Vs DCIT (ITAT Mumbai) From the record, we found that assessee was carrying out business of commodity trading on un-recognised exchange and also business of trading in shares. Assessee has claimed set off of loss arising out of trading in shares against the income arising out of trading in commodities. The […]
whether the AO is correct in disallowance made u/s 14A irrespective of the fact that assessee do not have any Exempt Income during the Year?
Roshan Lal Verma Vs DCIT (ITAT Delhi) In the present case the notice under Section 143(2) was issued to the assessee which is not the mandatory requirement under the provisions of Section 153A of the Act. As per Section 153A, simple notice has to be given to the assessee. Thus, the contention of the Ld. […]
4 Forthcoming changes in e-Waybill system on 25.03.2019 are 1. Auto calculation of route distance based on PIN code for generation of EWB 2. Blocking of generation of multiple E-Way Bills on one Invoice/document 3. Extension of E-Way Bill in case Consignment is in Transit and 4. Blocking of Interstate Transactions for Composition dealers. 1. […]
