"07 May 2019" Archive

Transfer cannot be considered merely on the basis of registered agreement

Appasaheb Baburao Lonkar Vs ITO (ITAT Pune)

Appasaheb Baburao Lonkar Vs ITO (ITAT Pune) Wherein the initial contract was between the parties on the ground that the assessee would get permission of other co-owners numbering about 13 so as to transfer immovable asset to the purchasers. This was the basic condition of the said agreement between the parties. Admittedly, the said permis...

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Addition for Capitation Fee should be made against collages instead of Parents

Shri R. Bhoopathy Vs CIT (Madras High Court)

Shri R. Bhoopathy Vs CIT (Madras High Court) he scourge of Capitation Fee by Medical and Engineering Colleges is an infamous and thoroughly extortionist act that is going on in the education sector in our country and it is almost a known fact that these so called Educational Institutions act more like Business Houses rather […]...

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Deemed Registration on Non-disposal of registration application u/s.12AA within 6 Months

M/s.Kanchipuram Vaniga Vaisya-Dharma Paripalana Sangam Vs CIT (E) (ITAT Chennai)

M/s. Kanchipuram Vaniga Vaisya-Dharma Paripalana Sangam Vs CIT (E) (ITAT Chennai) Admittedly, this application seeking registration u/s.12AA of the Act, was filed on 10.07.2014. The Sub-section 2 of Sec. 12AA stipulates that an order granting or refusing the registration under Clause-B of Sub-Sec.2 shall be passed before the expiry of the...

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Denial of exemption U/s. 11 to registered Trust for mere non- producing evidence of registration U/s. 12A/12AA is invalid

Rotary Club of Poona Downtown Charitable Trust Vs ITO (E) (ITAT Pune)

In the present case, the assessee trust has made ample efforts for procuring information from the Department regarding duplicate copy of registration certificate. The Department was not able to provide any copy of the registration certificate. ...

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HC to formulate substantial question of law & only thereafter hear appeal on merits: SC

PR. CIT Vs A. A. Estate Pvt. Ltd (Supreme Court of India)

PR. CIT Vs A. A. Estate Pvt. Ltd (Supreme Court) There lies a distinction between the questions proposed by the appellant for admission of the appeal and the questions framed by the Court. The questions, which are proposed by the appellant, fall under Section 260­A (2) (c) of the Act whereas the questions framed by […]...

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GST on Real Estate Sector- 41 FAQs

F. No. 354/32/2019-TRU (07/05/2019)

A number of issues have been raised regarding the new GST rate structure notified for real estate sector effective from 01-04-2019. A compilation of Frequently Asked Questions (FAQs) is presented below. Also Read- GST on Real Estate: CBIC release FAQs (Part II) F. No. 354/32/2019-TRU Government of India Ministry of Finance Department of R...

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Admissibility of Input Tax Credit of GST Paid on Maintenance Services – A Case Study

The admissibility of input tax credit is not free from controversies under GST like pre-GST regime. There are many cases where Orders passed by the Advance Ruling Authority as well as Appellate Authority for Advance Ruling in the favour of the department and only few orders are in the favour of the assessees. ...

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Posted Under: Income Tax |

Declare PAN /Aadhaar while paying membership fees/applying Fellowship: ICSI

Members would henceforth be required to declare their PAN (mandatory) and Aadhaar / UID Number (optional) at the time of making online payment of annual membership fees and while applying for Fellow membership of the Institute in Form-B....

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Posted Under: Income Tax |

Extension of time for CEP Credit Hours for renewal of COP for CMAs

It has been decided by the Council of the Institute to grant extension upto 31st July, 2019 to complete the requirement of CEP credit hours for renewal of COP of the members for the year 2019-20....

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Posted Under: Income Tax |

Advisory for Simplified Auto Registration at ICEGATE

In a bid to simplify auto registration for the IEC holders, the Central Board of Indirect Taxes and Customs ( CBIC ) has informed that the IEC holders can register with the Goods and Services Tax Identification Number (GSTIN). It was said that no Digital Signature is required for the same. The facility is now […]...

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Posted Under: Income Tax |