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Archive: 28 November 2020

Posts in 28 November 2020

Deduction u/s 54F Not Eligible for Investment Made in two Differently Placed Properties

November 28, 2020 6762 Views 0 comment Print

The issue under consideration is whether the investment made in two different properties out of the capital gains is eligible for deduction u/s 54F?

List of cases selected for GST Audit in Maharashtra for period 2017-2018

November 28, 2020 6705 Views 0 comment Print

Maharashtra GST Department has released List of cases selected for Audit under GST Act, 2017 for the period 2017-2018 on its website. Maharashtra GST Department has selected 3764 cases for GST Audit. List contains Sr. No., GSTIN Registration, Trade Name, Desk ID, Location, Division and Zone. Download List of cases selected for GST Audit in […]

No Bail to person accused of floating bogus firms in alleged GST Evasion case

November 28, 2020 1563 Views 0 comment Print

Director General of GST Intelligence Vs Vikas Jain (Rohtak District Court)  The allegations against the present applicant/accused are that he and co-accused Satender are the persons responsible for floating bogus firms in the name of various persons and he was involved in the issuing of invoice without the actual movement of the goods. These kind […]

CIVIL Contracts under Dakshin Haryana Bijli Vitran Nigam (DHBVN)

November 28, 2020 3435 Views 0 comment Print

Civil Contractors needs prior registration under various government departments to grab contract under such department. One of such department is DHBVN (Dakshin Haryana Bijli Vitran Nigam. DHBVN is a state-owned power distribution utility company owned by the Government of Haryana having its headquarters in Hisar, Haryana. DHBVN has two operation zones – Hisar & Delhi. […]

ITAT Remand Case to AO for Determining ALP of Purchase Transaction of FA by Appellant to its Overseas AEs

November 28, 2020 1395 Views 0 comment Print

The issue under consideration is whether rejecting the benchmarking approach and methodology followed by the Appellant for determining the ALP of the transactions pertaining to purchase of fixed assets by the Appellant to its overseas AEs is justified in law?

Claim Allowed in Original Assessment Cannot be Amenable to Provisions of Section 147/148

November 28, 2020 960 Views 0 comment Print

The issue under consideration is whether the notice issued under section 147 for re-opening of assessment is justified in law? A claim which has been allowed in the original assessment proceedings after examination of the relevant details and facts cannot be amenable to provisions of Section 147/148 of the Act.

Netting off Interest Expenditure against Interest Income in absence of direct relation Not Allowed

November 28, 2020 1629 Views 0 comment Print

The issue under consideration is whether the netting off interest expenditure against interest income is allowed u/s 56 of Income Tax Act?

Income Tax cannot be levied on Securities Premium Merely because It Used to Set Off Losses

November 28, 2020 2694 Views 0 comment Print

The issue under consideration is whether tax is applicable on securities premium merely because it used to set off losses? AO does not have the jurisdiction to go beyond the net profit shown in the Profit & Loss Account except to the extent provided in the Explanation to section 115J.

Revenue Generated from Bookings Made within India Attributable to PE, Hence Taxable in India

November 28, 2020 1521 Views 0 comment Print

The issue under consideration is whether revenue generated from the bookings made within India is the revenue attributable to the PE of the assessee is taxable in India?

Changes in Company Information under Companies Act, 2013- FAQs

November 28, 2020 1851 Views 0 comment Print

Q.1 What is the process of intimating Ministry of Corporate Affairs about any change in Managing Director, Directors, Manager, CEO, CFO or Secretary of a company? A company can intimate changes among Managing Director, Directors, Manager and Secretary of a company by filing eForm DIR-12 with Registrar of Companies (ROC) within 30 days (Event date […]

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