"07 January 2021" Archive - Page 4

HC directs dept to issue refund of unutilized Input Tax Credit

M/s Vinod Oil and General Mills Vs Union of India and others (Punjab & Haryana High Court)

Vinod Oil and General Mills Vs Union of India and others (Punjab & Haryana High Court) According to the Petitioner, despite applying for refund of unutilized Input Tax Credit amounting to Rs. 14,21,479/- accumulated on account of inverted tax structure, in form RFD-01, under Section 54 (3) (b) of the Central Goods and Service Tax [&he...

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CIT(A) cannot enhance Income on a new source of income which was not considered by AO 

Sugota Industries Pvt. Ltd Vs ITO (ITAT Mumbai)

Sugota Industries Pvt. Ltd Vs ITO (ITAT Mumbai) The AO in this case has only disallowed expenses u/s 14A of the Act r.w. Rule 8D of the Income Tax Rules. No other aspect or issue has been touched by the AO in the assessment order. The ld. CIT(A) enhanced the assessment by disallowing the claims […]...

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Provisional attachment to protect revenue in certain cases under GST Law- Section 83 of CGST Act, 2017

In order to protect the ‘interests of the revenue’ during the ‘pendency of any proceedings’, the Government has the power to provisionally attach the properties of any taxpayer. It is stated that any litigation under GST law might take a considerable amount of time and potentially delay the earning of revenue by the Government. Mo...

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Income Tax: 11 Suggestions for Union Budget 2021-22

CCI Professionals Forum has given a Pre Budget Memorandum to Shri Anurag Singh Thakur, Hon’ble Minister of State for Finance. In Memorandum  Suggestions for Budget 2021-22 are made. Budget 2020  is likely to be presented in Parliament on 1st February, 2021. CCI Professionals Forum (A unit of Calcutta Citizens’ Initiative) 3, Ho ...

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Accounting Process Outsourcing – An Insight on Major Economies

We are happy to inform you that while continuously working towards new initiatives for promotion of professional services across the globe, the Committee has achieved a new milestone by launching a new publication – 'Accounting Process Outsourcing' – An Insight on Major Economies at the Virtual International Conference held from 17th ...

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