"08 May 2019" Archive

Date of filing ER-1/ER-2 return for April 2019 extended to 10.06.2019

Order No. 01/2019 Central Excise (08/05/2019)

Extension of time limit for filing of Monthly Return for production and removal of goods and other relevant particulars and CENVAT credit specified in Form ER-1 and specified in ER-2....

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Application for Revocation of Cancellation of GST Registration

CBIC Clarification on Application for Revocation of Cancellation of GST Registration CBIC has issued Circular No. 99/18/2019-GST dt 23 April 2019 for Clarifications on issues relating to filing of application for revocation of cancellation of GST registration in terms of Removal of Difficulty Order No. 05/2019 Central Tax dt. 23 April 20...

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Posted Under: Excise Duty |

3 Steps to follow Before you File GSTR9

This article is all about things you should follow before you think of filling GSTR 9 . Don’t just jump to file GSTR 9. First follow these 3 steps and then go to filling GSTR 9. 1. Matching   “TAX AS PER 3B   =   TAX AS PER GSTR 1 “ First check TAX paid as per […]...

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Posted Under: Excise Duty |

Exemption u/s 10(23)(iiiad) cannot be denied for mere surplus 

New Amazing Shiksha Society Vs. ITO (Exemption (Ward) (ITAT Delhi)

New Amazing Shiksha Society Vs. ITO (Exemption (Ward) (ITAT Delhi) Exemption u/s 10(23)(iiiad) of the Income Tax Act, 1961 should not be denied to the assessee as selling of books and uniform to the students of assessee is part of educational activity only. Moreover, the impugned addition was made merely on the basis that surplus [&hellip...

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Date of possession of flat is date of actual purchase for claiming exemption u/s 54F

Ayushi Patni Vs DCIT (ITAT Pune)

Ayushi Patni Vs DCIT (ITAT Pune) Whether the assessee is eligible for claiming exemption u/s 54F in respect of residential flat / house for which the assessee has entered into an agreement for purchase more than one year before the date of transfer of capital asset? The dates qua, transfer of capital asset, execution of […]...

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Loss on revaluation of foreign exchange cannot be denied for mere failure to debit liabilities in books

DCIT Vs Creative Portico (I) (P) Ltd. (ITAT Mumbai)

Assessee could not be debarred from claiming a foreign exchange loss as per Accounting Standard-11 as deduction only for the reason that it had failed to debit liabilities in its books of account....

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Input tax credit is admissible even if consideration is paid through book adjustment

In re Senco Gold Ltd (GST AAR West Bangal)

In re Senco Gold Ltd (GST AAR West Bangal) The Applicant intends to settle the mutual debts through book adjustments. He seeks an advance ruling on  whether the input tax credit is admissible when he settles through book adjustment the debt created on inward supplies from the Franchisee. AAR held that The Applicant can pay […]...

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Commissioner (Appeals) cannot condone delay in appeal filling beyond statutory limit of 3 months

Muktabai Govind Pawar Vs Commissioner of Custom (CESTAT Mumbai)

Muktabai Govind Pawar Vs Commissioner of Custom (CESTAT Mumbai) The Customs, Excise, and Service Tax Appellate Tribunal ( CESTAT ) Mumbai bench has held that the Commissioner (Appeals), has no power to condone delay beyond three months under the Finance Act, 1994. The assessee was aggrieved with the order of the Commissioner (Appeals) who...

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SEBI (Employees’ Service) (Amendment) Regulations, 2019

No. SEBI/LAD-NRO/GN/2019/15 (08/05/2019)

Securities and Exchange Board of India (Employees' Service) (Amendment) Regulations, 2019 shall come into force on the date of their publication in the Official Gazette....

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S. 147 AO cannot proceed mechanically & on erroneous information supplied to him by investigation wing

Akshar Builders and Developers Vs ACIT (Bombay High Court)

Akshar Builders and Developers Vs ACIT (Bombay High Court)  Even in a case where the return filed by the assessee is accepted without scrutiny, as per the settled law, the Assessing Officer can issue a notice of reopening of assessment provided he has reason to believe that income chargeable to tax has escaped assessment. The […]...

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