"15 February 2021" Archive

SC directed UOI to file affidavit regarding technical glitches faced in filing GST TRAN-01

Union of India & Ors. Vs National Engineering Co. (Supreme Court of India)

Union of India & Ors. Vs National Engineering Co. (Supreme Court of India) The Hon’ble Supreme Court of India in Union of India & Ors. v. M/s National Engineering Co. [Special Leave Petition (Civil) Diary No(s). 2701/2021, dated February 15, 2021] directed Union of India (the Petitioner) to file an affidavit within 4 weeks, answ...

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Physical assault & mental torture to Vapi based traders by GST officials

Confederation of All India Traders has written a letter to Smt. Nirmala Sithraman, Hon’ble Minister for Finance against alleged physical assault and mental torture of traders of Vapi in Gujarat by concerned high officials of GST Department and demanded that there should be stringent and exemplary punishment for erring officials sinc...

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Section 54 benefit cannot be denied on installments paid prior to one Year window

Prakash Pandharinath Bakre Vs PCIT (ITAT Jaipur)

Prakash Pandharinath Bakre Vs PCIT (ITAT Jaipur) Benefit under section 54 is available to an individual who has transferred a long term capital asset being a ‘residential House Property’ and the assessee has either purchased one residential house in India within a period of one year before or two years after the date of transfer [&hel...

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GST Circular – SOP on GST registration Cancellation for anomalies in GSTR-3B

As notified vide Notification No 94/2020 – the amendment in Rule 21A of GST Rules, 2017 came to effect to enable the GST officers can now suspend a GST Registration with immediate effect if they found significant anomalies in GSTR3B Returns. A detailed SOP (Standard Operating Procedure) in this regard was issued by CBIC on […]...

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CAG extends last date for online empanelment application

Extension of the Last Date for submission of application for Empanelment of Chartered Accountants firms/LLPs with O/o C&AG for the year 2021-22...

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No addition for Duly explained cash deposit for mere non appearance of creditor

Vishnu Prasad Vs DCIT (ITAT Jaipur)

Vishnu Prasad Vs DCIT (ITAT Jaipur) In the case of the assessee, (i) the identity of Shri Hanuman remains undisputed, as the summons issued by the AO was duly served upon him, (ii) genuineness of the transaction is also proved (from books of accounts) beyond doubt, as amount paid as advance to him, duly appeared […]...

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Your take home salary may hit with the NEW WAGE CODE

Yes! You read it right. This article makes an attempt to analyze the Code on Wages (Code) and the impact of the same on take home salary- The Code on Wages has been introduced aiming to streamline and simplify the existing labour laws. It was passed by parliament in 2019. The Code will subsume the […]...

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I-T department Mumbai searches Gutkha, Pan masala group

The Income Tax Department carried out search and survey operations on a group based in Mumbai on 08.02.2021. This group is mainly engaged in the business of manufacturing of Gutkha, Pan masala and allied substances, besides having operations in hospitality sector. The searches were carried out across many locations in India and concluded ...

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CESTAT referred matter back to Commissioner for fresh adjudication on request of Appellant

Bhardwaj Infrastructure Private Limited Vs Commissioner, Central Goods & Service Tax (CESTAT Delhi)

Learned Counsel pointed out that there are 28 contracts in respect of which demand has been made. Learned Counsel stated that they have paid the service tax in respect of Serial Number 14 and 20 of the said list and these are not disputed. Learned Counsel pointed out that they are entitled to get the benefit of the mega Exemption Notifica...

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India’s Foreign Trade for January 2021

Indias overall exports (Merchandise and Services combined) in April-January2020-21* are estimated to be USD 396.60Billion, exhibiting a negative growth of (-) 10.63per cent over the same period last year. Overall imports in April-January 2020-21* are estimated to be USD 398.47Billion, exhibiting a negative growth of (-) 22.80per cent over...

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