"14 February 2020" Archive

Cash credits can be taxed only in the year of credit

Shri Ivan Singh Vs ACIT (Bombay at Goa High Court)

Section 68 - Bogus Cash Credit - The expression 'any previous year' to mean as not referring to all the previous years, but, the previous year in relation to the assessment year concerned....

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Recent Updates in GST till 13th February 2019

Tax evasion and related arrests on tax offences have increased in last few weeks and the amounts involved are huge running into few thousand crores. Is it tax terrorism ! not for evaders. However, compliances continue to be troublesome. ‘We evolve and mature as we grow’ seems to be the Government’s stance. CBIC appears to […]...

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Posted Under: Income Tax |

Mistake of two digits of vehicle no. in invoice & E-way bill is typographic error

M/s Mahalakshmi Packagers Manufacture Vs ACST&E-cum-Proper Officer (GST Appellate Authority, Himachal Pradesh)

As per the facts in hand it appears that the mistake of two digits while entering vehicle no in invoice and E-way bill is a typographic error and may be treated as a minor one....

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E-way bill- Shifting of Goods by other vehicle due to breakdown- Penalty despite vehicle no. updation unsustainable

Integrated Constructive Solutions Vs Vs ACST&E-cum-Proper Officer (GST Appellate Authority, Himachal Pradesh)

Integrated Constructive Solutions Vs Vs ACST&E-cum-Proper Officer (GST Appellate Authority, Himachal Pradesh) It appears that there is no dispute regarding quantity of goods and further all concerns documents were placed before the proper officer. It is a fact that the E-way Bill for the material in question was generated at 05:52 pm ...

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Game where success depends upon substantial degree of skill are not gambling

Chandresh Sankhla Vs State of Rajasthan (Rajasthan High Court)

As per Section 12 of the Rajasthan Public Gambling Ordinance, 1949, the game involving 'mere skill' is exempted from the applicability of the Act/Ordinance and since 'Dream 11' game has been held to be a game of skill, no fault can be found by the answering respondents in the activity which is carried out by the private respondents....

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Penalty imposed ignoring updated e-way bill is unsustainable

On Dutt S/o Shri Bal Krishan Vs ACST&E-cum-Proper Officer (GST Appellate Authority, Himachal Pradesh)

On Dutt S/o Shri Bal Krishan Vs ACST&E-cum-Proper Officer (GST Appellate Authority, Himachal Pradesh) It appears that there is no dispute regarding quantity of goods and further all concerns documents were placed before the proper officer. It is a fact that The E Way bill for the goods in question was generated at 09:43 pm […]...

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Income tax returns are public documents & can be summoned by Court

Pragati Green Meadows and Resorts Ltd. Vs M. Praneetha (Telangana High Court)

Income tax returns are public documents and they can be summoned by the Court. If same are produced before the Court , the same does not result in violation of Article 21 of Constitution of India, as they are Government documents and are accessible to others....

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Information/ Documents Required For Incorporation of LLP

A. Information Required For RUN (Name Approval Form) 1. Proposed Names (Maximum 2 Names) 2. Significant of Proposed Name 3. Object (Proposed Business) of LLP 4. Trademark/ NOC if any to use name. B. Information Required For Preparation of Incorporation Documents I. General Information: 5. Total No. of Designated Partner. 6. Total No. of P...

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Posted Under: Income Tax |

Draft Submission against Interest Recovery on Gross GST Dues

Draft Format of Reply / Submission against notice seeking  recovery of interest on the gross tax dues on account of delayed filing of GSTR 3B. To, Commissioner, Central/State GST, Commissionerate ____ Respected Sir/Madam, Re.:- Notice dated ___________ seeking recovery of interest on the gross tax dues on account of delayed filing of GST...

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Posted Under: Income Tax |

Rajasthan HC allows bail application of a CA upon furnishing of personal bond

Hon’ble HC, Rajasthan in Paridhi Jain v. State [S.B. Criminal Miscellaneous Bail Application No. 742/2020, 48/2020 dated January 20, 2020] after considering the fact that fact that the Petitioner being a practising Chartered Accountant and a lady of 27 years is facing incarceration for last more than one month, allowed bail application ...

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Posted Under: Income Tax |

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