"07 October 2019" Archive

Revenue Secretary inaugurates National e-Assessment Centre of IT Dept.

Revenue Secretary inaugurates National e-Assessment Centre of IT Department Faceless e-Assessment for income tax payers launched New Initiative shall impart greater efficiency, transparency and accountability in the assessment process Posted On: 07 OCT 2019 Revenue Secretary Shri Ajay Bhushan Pandey inaugurated National e-Assessment Schem...

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Posted Under: Income Tax |

Statutory Registers to be Maintained by a Company

All about Statutory Registers to be Maintained by the Company Under Companies Act, 2013 In India What are the Statutory Registers? ♦ According to the Companies Act, Statutory Registers are the registers which contains the specific record of the company’s shareholders, directors, deposits, loan & guaranty etc. and are placed at the...

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Posted Under: Income Tax |

HC directs GST Commissioner to reflect ITC claim of Petitioner in electronic credit ledger

Sikka Motors Pvt. Ltd. Vs Commissioner, Central Goods And Service Tax & Ors. (Delhi High Court)

Sikka Motors Pvt. Ltd. Vs Commissioner, Central Goods And Service Tax & Ors. (Delhi High Court) Learned counsel for the Petitioner points out that in the present case, the eligibility of the Petitioner to claim ITC has not been doubted by the Respondents. However, for no fault of the Petitioner, despite filing the form GST […]...

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Levy & Apportionment of Integrated Goods and Services Tax

The Constitution of India provides that the Parliament may, by law, provide the manner in which goods and services tax, collected on following supplies of goods or services or both, shall be apportioned in between the Union and the States, namely:- (i) supply of goods or services or both in the course of inter-State trade […]...

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Posted Under: Income Tax |

GST may not be applicable on Housing Scocieties

GST may not be applicable on Housing Societies 1. Recently Hon. Supreme Court has given a landmark judgement with regard to levy of sales tax on goods supplied by clubs to its members and service tax on services provided by clubs to its members. Surely this is going to cast shadow on the levy of […]...

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Posted Under: Income Tax |

Unaccounted sales cannot be regarded as turnover for section 44AB

Shri Satya Prakash Mundra Vs ITO (ITAT Jaipur)

Addition made by AO during the assessment proceedings on the basis of unaccounted sales cannot be regarded as the turnover for the purpose of section 44AB of the Act because the documents relied upon by AO are neither the part of books of account nor would substitute the books of account or constitute the books of account of the assessee ...

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RfP for Concurrent Audit of Operations of Branch Office, SIDBI

Small Industries Development Bank of India Request for Proposal (RfP) For Concurrent Audit of Operations of Branch Office, SIDBI. CA will have to submit the following reports to the Management...

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Posted Under: Income Tax |

Requirement of issuance of notice within prescribed time U/s. 143(2)

ITO Vs Globsyn Technologies Ltd. (ITAT Kolkata)

ITO Vs Globsyn Technologies Ltd. (ITAT Kolkata)  is the contention of the ld. AR is that no notice u/s 143(2) of the Act was served within the stipulated time prescribed in the Act and the reassessment order was without jurisdiction and prayed to dismiss the appeal filed by the revenue. Further he submitted that the […]...

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Aadhaar data cannot be shared : CIC

Anupam Saraph Vs Asst. Director General & CPIO (Central Information Commission)

Anupam Saraph Vs Asst. Director General & CPIO (Central Information Commission) Aadhaar data contains Personal Identifiable Information (PII) including Biometric details of Indian residents which is highly sensitive in nature. Aadhaar data being a national asset, therefore sharing the requested information can affect the security inte...

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PMC Crisis- An Indepth Analysis

Few days ago, PMC account holders got a message on their phones that shocked them. PMC Bank was directed by the RBI to let the account holders withdraw no more than ₹1000 for the next six months; not extend or provide any new loans. All of this, overnight. No intimation was given to the customers....

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Posted Under: Income Tax |