"25 May 2019" Archive

HC cannot hear appeal bipartite without framing any substantial question of law

Pr. CIT Vs M/s Yes Bank Ltd. (Supreme Court of India)

Pr. CIT Vs M/s Yes Bank Ltd. (Supreme Court of India) The main issue involved in this appeal, as rightly taken note of by the High Court in para 6, was with regard to the applicability of Section 35-D of the Act to the respondent­ assessee(Bank). It was, however, not decided. In our view, the […]...

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Kerala Flood Cess Rules, 2019

G.0.(P) No. 80/2019/Taxes / S.R.O.No. 359/2019 (25/05/2019)

Kerala Flood Cess shall be levied on intra-state supplies of goods or services or both made by a taxable person to an unregistered person in respect of supplies specified in the TABLE under sub-clause (2) of clause 14 of the Kerala. Finance Bill, 2019:...

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Kerala imposes Kerala Flood Cess with effect from 1st June 2019

G.0.(P) No. 79/2019/Taxes / S.R.O. No. 358/2019 (25/05/2019)

Government of Kerala hereby appoint the 1st day of June, 2019 as the date with effect from which the cess under the said clause shall be levied and collected....

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Section 148 notice without Approval of Competent Authority is invalid

ITA Vs Kuber Fertilizers Pvt. Ltd. (ITAT Delhi)

ITO Vs Kuber Fertilizers Pvt. Ltd. (ITAT Delhi) There is no dispute that the notice u/s 148 was issued to the assessee in respect of assessment years, beyond the period of four years from the end of the relevant assessment years as contemplated under the proviso to sub section (1) of Section 151 of the […]...

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List of candidate won in recent Lok Sabha Election

Notification No. O.N. 136(E). (25/05/2019)

Partywise, Statewise and Constituency list of candidate won in recent Lok Sabha Election ELECTION COMMISSION OF INDIA NOTIFICATION New Delhi, the 25th May, 2019 O.N. 136(E)—Whereas, in pursuance of the Notifications No. H.11024(1)/2019-Leg-II, issued by the President of India on 18th March 2019, 19th March 2019, 28th March 2019, 2nd...

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TCS not deductible if buyer declares use of goods for Manufacture

ACIT (OSD) Vs M/s. Bansal Ship Breakers P. Ltd. (ITAT Ahmedabad)

ACIT Vs M/s. Bansal Ship Breakers P. Ltd. (ITAT Ahmedabad) Any person responsible for collecting taxes (TCS) under section 206(1) need not to do so if he obtains a declaration from the buyer that he is purchasing the goods for re-use in manufacturing process or producing article or things. It does not say that such […]...

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180 Transfers & postings in grade of Joint Commissioner of Customs, GST & Central Excise

Office Order No. 68/2019 (25/05/2019)

OFFICE ORDER No. 68/2019 With the approval of the competent authority, the following transfers and postings in the grade of Joint Commissioner of Customs, GST and Central Excise are hereby ordered with immediate effect and until further orders:-...

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Section 54/54F :Tenancy right cannot be equated with ownership rights

Kaushik D. Mistry Vs ITO (ITAT Mumbai)

Kaushik D. Mistry Vs ITO (ITAT Mumbai) So far as the question of deduction u/s 54 is concerned, we find that the assessee has not acquired the ownership rights in the new property but merely acquired tenancy right which could not be equated with ownership rights. The conditions of Section 54 as well as Section […]...

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Software purchased across the counter as shrink proof software is not akin to royalty

Opus Software Solutions Pvt. Ltd. Vs ACIT (ITAT Pune)

It was held that where the software is purchased across the counter as shrink proof software, then it is not akin to royalty both under the Income Tax Act or the DTAA. The Tribunal held that since the definition of ‘royalty’ has not been amended under DTAA,...

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Posted Under: Income Tax |

How to submit Declaration of Non filing of TDS Statement

Important Information on Declaration of Non filing of Statement ♣ If a Deductor is not required to file statement for a particular period, then, Intimation or Show Cause notice from the Department can be avoided by giving Non Filing declaration ♣ Non Filing Declaration is implemented from Financial Year 2013-14 onwards ♣ It is requi...

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Posted Under: Income Tax |