"08 May 2019" Archive

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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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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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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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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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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Registered Office shifting of Company from One State to another State

A. Send Board Meeting notice of Minimum 7 days before the date of Board Meeting (B.M.) B. Then Pass the Board Resolution on Board Meeting date for following items: 1. Shifting of Registered office from one state to another state. 2. Fix Day, Date, Time for extraordinary general meeting (EGM) 3. Approval of Notice for […]...

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Filing of Annual Return of (Limited Liability Partnership) LLP’s -Form -11

Every Designated Partner or Partners in an LLP (Limited Liability Partnership) has to file its return annually. For financial year ending March, 2019 –Due date to File Form 11 is 30th May, 2019 i.e. Annual Return: Form 11 is to be submitted within 60 days of closure of the financial year i.e 30th May 2018. […]...

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Maximum entries in single online ANF 3D application increased

Public Notice No. 07/2015-2020 -DGFT (07/05/2019)

The number of entries of shipping bills/ Airway bills which can be filed in a single online ANF 3D application has been increased from 50 to 250 for claiming MEIS benefit....

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