"February, 2021" Archive

Due date for filing GSTR-9 & GSTR-9C for FY 2019-20 extended

Notification No. 04/2021– Central Tax 28/02/2021

Due date for furnishing of GSTR-9 and GSTR-9C for the financial year 2019-20 extended further to 31.03.2021. Due date was earlier extended from 31.12.2020 to 28.02.2021...

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Profit on Sale of penny stock/Shares- ITAT Deletes Addition

DCIT Vs Jainam Investments (ITAT Mumbai)

DCIT Vs Jainam Investments (ITAT MUMBAI) Under this issue the revenue has challenged the deletion of disallowance of Rs.4,71,19,785/- on of sale shares of M/s. Mahavir Advanced Remedies. The Ld. Representative of the revenue has argued that the CIT(A) has wrongly deleted the disallowance of Rs.4,71,19,785/-, therefore, the finding of the ...

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Addition for on-money received on sale of flats restricted to 12%

M/s. Bhalchandra Trading P. Ltd. Vs DCIT (ITAT Mumbai)

Bhalchandra Trading P. Ltd. Vs DCIT (ITAT Mumbai) It is not in dispute that assessee had indeed received on-money for sale of flats to the tune of Rs. 2,20,00,000/- during the year under consideration. It is not in dispute that the assessee had incurred certain business expenses out of such on-money which are kept outside […]...

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COVID19 Vaccination Registration to open on 1st March 2021

Registration for next phase of COVID19 Vaccination on Co-WIN2.0 portal will open at 9:00 am on 1st March 2021 at www.cowin.gov.in. More than 10,000 private hospitals empanelled under Ayushman Bharat PMJAY, more than 600 hospitals under CGHS and other private hospitals empanelled under State Schemes can function as COVID Vaccination Centre...

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CGST Delhi officials arrest man for ITC fraud of Rs 50.03 crore

The officers of Central Goods and Services Tax (CGST) Commissionerate, Delhi East have unearthed a network of fictitious firms used by their operator to generate and pass on fake Input Tax Credit (ITC) of Goods and Services Tax (GST)....

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I-T Dept searches leading Tiles business group of South India

Income Tax Department conducted searches on a prominent business group located in Chennai on 26.02.2021. Search was conducted at 11 premises and surveys in 9 premises of the group in Tamil Nadu, Gujarat and Kolkata. This business group is engaged in the business of manufacture and sale of Tiles and Sanitary-ware and are leaders in Tiles b...

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Foundation Stone of Central GST Bhavan of Palghar Commissionerate laid at Boisar

The Foundation Stone of Central GST Bhavan of Palghar Commissionerate at Boisar, Palghar has been laid by Shri Rakesh Kumar Sharma, Principal Chief Commissioner, CGST & Central Excise, Mumbai on 27th February, 2021....

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Cabinet extends tenure of CBDT Chief P C Mody till 31.05.2021

No 18/60/2016,0(SM II) 28/02/2021

The Appointments Committee of the Cabinet has approved extension in the re-appointment of Shri Pramod Chandra Mody as Chairman, Central Board of Direct Taxes (CBDT), for a further period of three months with effect from 01.03.2021 to 31.05.2021 or until further orders, whichever is earlier....

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Provision for actual delays & defaults is ‘ascertained liability’ & allowable

Huawei Telecommunications (India) Pvt. Ltd.Vs. DCIT (ITAT Delhi)

Huawei Telecommunications (India) Pvt. Ltd.Vs. DCIT (ITAT Delhi)  The taxpayer challenged disallowance/confirmation of Rs.1,010,856,249/- & Rs.128,611,894/- for Assessment Years 2012-13 & 2013-14 respectively on account of provision for customer claim on the ground that the amount provided by the taxpayer pertaining to actual del...

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Amount paid by Mistake or ignorance of Repealment of Act must be Refunded: HC

WS Retail Services Private Limited Vs State of Jharkhand (Jharkhand High Court)

WS Retail Services Private Limited Vs State of Jharkhand (Jharkhand High Court) It is the case of the petitioner, undisputed by the respondent that petitioner is not a registered dealer under JVAT Act, 2005 nor has been assessed to tax under the Act. No demand notices were raised against the petitioner as such to the […]...

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