Whether the full and final settlement of the bills pertaining to LTC Cash Scheme is also to be ensured by 31st March, 2021, without any scope of spill over to the next financial year? As far as possible, the claims should be made and settled well before 31st March, 2021, Ministries/Departments may consider settlement of only those claims/purchases made on or before 31′ March, 2021 beyond the due date, i.e. 31st March, 2021.
Dharmesh Gandhi Vs Assistant Commissioner (Anti-Evasion) (Bombay High Court) After hearing the matter at some length, we find that out of the nine bank accounts that have been attached by respondent No.1, only the accounts at Sr. Nos.2, 3 and 4 belong to the petitioner whereas the other accounts belong to the family members, namely, […]
Malay Prasad Vs ACIT (ITAT Allahabad) As could be seen from provisions of Section 68 of the 1961 Act that if any sum is found credited in the books of accounts maintained for any previous year , and the assessee offers no explanation about the nature and source thereof or the explanation offered by the […]
Assessments Under GST Section-62 Assessment of non-filers of returns Introduction. -As per Section-62 provisions, proper officer can proceed to assess the tax liability of the said person to the best of his judgment, if taxpayer fails to file returns as per section 39 & as per section 45, -Taking into account all the relevant material which […]
15 basic mistakes that are related to Charging of GST or Reversing ineligible ITC, that Taxpayer should Avoid making Normally These are areas that an Auditor would be checking in first stage while filling GSTR 9. Of Course the scope is vast looking in GST Audit & annual return. So here I pointed out Bullet […]
Sarita Singh Vs Addl. CIT (ITAT Delhi) Section 273B of the I.T. Act provides that no penalty shall be imposable on the persons or the assessee as the case may be for any failure referred to in section 271D of the I.T. Act, if he proves that there was a reasonable cause for the said […]
Pearson Drums & Barrels Pvt. Ltd. Vs The General Manager, Consumer Education & Protection Cell of Reserve Bank of India and others (Calcutta High Court) Upon considering the submissions of the parties, it is evident that the petitioner has not only claimed refund of full processing fees from respondent no.4, a private bank, but has […]
Make in India is an initiative which was launched on September 25, 2014, to facilitate investment, foster innovation, building best in class infrastructure, and making India a hub for manufacturing, design, and innovation. The development of a robust manufacturing sector continues to be a key priority of the Indian Government.
Supreme Court has held that issue of a legally valid notice u/s. 143(2) is mandatory for usurping jurisdiction to frame scrutiny assessment u/s. 143(3) of the Act and in the absence of a valid notice u/s 143(2) the scrutiny assessment u/s 143(3) cannot be framed and omission to issue notice u/s 143(2) of the Act is not a curable defect.
ACIT Vs Simplex Infrastructures Ltd. (ITAT Kolkata) In the instant case, as will be evident from the perusal of the agreements, as enclosed in the Paper book and relevant portions of which are discussed as above, all the agreements under consideration are not for a specific work, they are for development of facility as a […]
