Join our webinar on Faceless Tax Assessments under the Income Tax Act, 1961. Learn concepts, challenges, and solutions from expert CA Hari Agarwal, FCA.
In simple term, revocation means reversal. Under Goods and Services Tax (GST) revocation application in Form GST REG-21 means applying for reversal of cancellation of GST registration. Only the taxable person, whose GST registration is cancelled by the proper officer, can apply for revocation of cancellation of GST registration in Form GST REG-21. The present […]
Arun Kumar B M Vs ITO (ITAT Bangalore) The Assessing Officer held that the assessee is required to invest Rs.50 lakh in REC Bonds in any financial year. The Assessing Officer also relied on the amendments made to section 54EC of the I.T.Act vide Finance Act, 2014 w.e.f. 01.04.2015. Assessee has filed this appeal before […]
Explore the complexities of Section 131(1A) notices after the conclusion of an Income Tax Search & Seizure. Unravel the controversy surrounding post-search inquiries, the scope of powers, and legal paradoxes. Delve into conflicting court decisions, emphasizing the need for clarity in this nuanced area of Income Tax law.
Family held and run businesses are the oldest and most prevalent form of business ownership anywhere in the world. Family businesses form the backbone of any country’s prosperity and economy. In India, keeping business ownership within a family is a deeply-rooted practice since ages. India enjoys a rich and glorious history of family-owned businesses. Initially, […]
As a principle exemptions are extended in tax statues to grant relief or ease the burden of consumers keeping in view the interest of general public at large. Thus inclusion of an exempted supply under the tax net by combining the same with a taxable supply under the notion of them being composite supply tends […]
This article has been drafted with a view to explain and amplify the scope and applicability of Section 58 and Section 59 of Companies Act, 2013 dealing with refusal or neglect to transfer or transmission by company and appeal thereof and rectification of register of members. For the proper appreciation of Section 58 and 59, […]
The provision of National Appellate Authority has been created by virtue of Section 104 of the Finance (NO.2) Act, 2019 and in section 95 (a) of the CGST Act,2017 after the words ‘Appellate Authority’, the words ‘or the National Appellate Authority’ has been inserted. The “National Appellate Authority” means the National Appellate Authority for Advance […]
R.P. Foam Pvt. Ltd. Vs Union of India (Allahabad High Court) In view of the submissions made at the bar and on perusal of the order dated 22.1.2020, it is clear that the rejection of the application is based upon the understanding that the GST TRAN-1 could not be filed on account of technical glitch […]
The issue under consideration is whether service tax can be imposed on bariatric surgery even if it is a life-saving procedure? Bariatric Surgery cannot be considered as a Cosmetic or Plastic Surgery, and hence the same is not a taxable service within the meaning of clause (105) (zzzzk) of Section 65 of the Finance Act, 1994.
In all the cases of belated applications in filing of Form No. l OBB for years prior to AY. 2018-19, the Commissioners of Income-tax are authorized to admit such applications for condonation of delay u/s 119(2)(b) of the Act. The Commissioner will while entertaining such applications regarding filing Form No. lOBB shall satisfy themselves that the applicant was prevented by reasonable cause from filing such application within the stipulated time. Further, all such applications shall be disposed of by 31.03.2021.
