Join our webinar on Faceless Tax Assessments under the Income Tax Act, 1961. Learn concepts, challenges, and solutions from expert CA Hari Agarwal, FCA.
DGGI (Hqrs.) booked a case on 06.03.2020 against M/s Aastha Apparels Pvt Ltd & others. Aforesaid companies have fraudulently claimed IGST refunds on export of goods to the tune of more than Rs. 61 Crores.
Since the final assessment orders after amalgamation was passed in the name of non-existent company by the AO, the same was bad in law and therefore, set aside.
CIT Vs R.S. Bajaj Society (Allahabad High Court) The only ground on which the CIT rejected the application for registration was that though the society was established in August 2011 with a dominant object of imparting higher medical education by establishing Medical Colleges, Hospitals and Research Centres, such charitable activities had not still been commenced. […]
Explore Supreme Court’s decision on trust registration under Section 12AA without activities. Learn implications for newly formed trusts. #IncomeTaxAct
Salem Sree Ramavilas Chit Company Vs DCIT (Madras High Court) .The Government of India has introduced E-Governance for conduct of assessment proceedings electronically. It is a laudable steps taken by the Income Tax Department to pave way for an objective assessment without human interaction. At the same time, such proceedings can lead to erroneous assessment […]
Matrix Cellular (International) Services Limited Vs Union of India & Ors. (Delhi High Court) Department have merely followed the statutory scheme of first making inquiries, and premised on the information gathered, to issue the Show Cause Notice under Section 73 of the Act. Having heard learned counsels, we are of the view that there is […]
Celltick Technologies Ltd Vs DCIT (ITAT Mumbai) If the arms length principle is satisfied qua the relevant transaction between the assessee and its Indian subsidiary, no further profits can be attributed to the assessee in India even if it was to be held that the latter had a PE in India e find that the […]
The CARO, 2020 is applicable for an audit of financial statements of eligible companies for the financial years commencing on or after the 1st April 2019. The criteria of eligibility of companies on which the CARO, 2020 shall be applicable has not been changed and hence it shall be applicable to all those companies on which CARO, 2016 was applicable.
Seeks to impose anti-dumping duty on imports of ‘Chlorinated Polyvinyl Chloride (CPVC) Resin- whether or not further processed into compound’ originating in or exported from China PR and Korea RP GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) Notification No. 05/2020-Customs (ADD) New Delhi, the 7th March, 2020 G.S.R. 164(E).– Whereas, in the matter […]
Partition is the severance of the status of Joint Hindu Family, known as Hindu Undivided Family under tax laws.Under Hindu Law once the status of Hindu Family is put to an end, there is notional division of properties among the members and the joint ownership of property comes to an end. However, for an effective partition, it is not necessary to divide the properties in metes and bounds. But under tax laws for an effective partition division by metes and bounds is necessary.
