"04 September 2019" Archive

Latest version of GSTR-9C Offline Utility to file your Form GSTR-9C

Latest version (Ver.1.3) of GSTR-9C Offline Utility Now Available on GST Portal Use Latest version of GSTR-9C Offline Utility to file your Form GSTR-9C. Latest version (Ver 1.8) of GSTR 9C offline utility can be Downloaded from : https://www.gst.gov.in/download/gstr9c GSTR-9C Offline Utility Version V1.3 The tool works best with: 1. Opera...

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13 Issues and Suggestions to Implement and Comply with GST Law

Tax Bar Association, Guwahat has made a representation on Compliance with GST Law and issues in maintaining details of HSN/SAC Summary of Supplies, Procedural difficulty in complying with the provisions of Rule 42 of the CGST Rules 2017, Procedural difficulty in complying with the provisions of Rule 43 of the CGST Rules 2017, Procedural d...

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15 Issues and Suggestions for Compliance of Income Tax Laws

Tax Bar Association, Guwahat has made a representation on Compliance of Income Tax Laws Regarding CPC,  Regarding TDS/TCS, Regarding CIT (Appeals), Settlement of Past Disputes (TDS), Regarding ITR and Other Forms, Exempted income specially in context of N E Region & Agricultural Income, E-assessments, Compliance, Special tax incentiv...

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External Benchmark Based Lending

RBI/2019-20/53 DBR.DIR.BC.No.14/13.03.00/2019-20 04/09/2019

It has now been decided to link all new floating rate personal or retail loans (housing, auto, etc.) and floating rate loans to Micro and Small Enterprises extended by banks with effect from October 01, 2019 to external benchmarks....

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Non-recording of satisfaction by AO of searched person while issuing notice to other party makes notice illegal

ACIT Vs Gulshan Kumar Sethi (ITAT Delhi)

AO of the searched person had not rebutted the presumption that the seized documents  belonged to M/s. C Ltd but belonged to other person, i.e, assessee, therefore, issue of notice under section 153C on assessee was illegal. ...

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AO not justified in assuming jurisdiction u/s 153C based on documents which does not indicate existence of any unaccounted income

Smt. Sunita Bhagchandka Vs. ACIT (ITAT Delhi)

Impugned bank certificate is not an incriminating document based on which the concluded assessment in the case of the assessee can be disturbed. In view of this according to us , we hold that no addition can be made in the hands of the assessee in absence of any incriminating evidence leading to any unaccounted income unearthed during the...

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Section 195(1) & 40(a)(ia) talks about tax deduction where sum is chargeable to tax

JLC Electromet Pvt. Ltd. Vs ACIT (ITAT Jaipur)

Coming to the provisions of section 40(a)(ia) of the Act, the said section also provides that any interest, royalty, fees for technical services or other sum chargeable under this Act on which tax is deductible at source under chapter XVII-B and such tax has not been deducted or after deduction has not been paid on or before the due date ...

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Remedies available under CPA and RERA are concurrent: Delhi HC

M/S M3M India Pvt Ltd & Anr Vs Dr Dinesh Sharma & Anr (Delhi High Court)

M/S M3M India Pvt Ltd & Anr Vs Dr Dinesh Sharma & Anr (Delhi High Court) Judgment in Pioneer Urban Land and Infrastructure Ltd. & Anr. vs. Union of India & Ors. constitutes the law declared by the Supreme Court under Article 141 of the Constitution, even in respect of the question raised in these […]...

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Demanding Bank A/c., Income Tax Return to continue dealership is infringement of Right to Privacy

Raju Sebastian Vs Union of India (Kerala High Court)

Demanding details pertaining to the bank account of a person and of  remittances made to the Income Tax Department towards discharge of tax liability shall amount to infringement of Right to Privacy, therefore, assessee was not bound to furnish their income tax returns and the bank account statements, as a condition for continuing the pe...

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DGFT notifies SION for “Cocoa Butter” in Food Product Group

Public Notice No. 30/2015-2020-DGFT 04/09/2019

DGFT hereby notifies a new SION with Serial Number E-135 in Food Product Group for export product Cocoa Butter vide Public Notice No. 30/2015-2020 dated 4th September, 2019....

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