"21 March 2021" Archive

Penal Aspects Related with GST (Latest and simplest)

I hereby want to discuss some of the penal aspects with respect to GST with special focus to latest amendments in the GST Acts and Rules. GST is one of the important Indirect tax of India. But, the non-compliance of the GST will attract penal provisions under CGST ACT, IGST ACT and respective SGST ACT/UTGST […]...

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Company Compliance Forms List For F.Y. 2020-21

As a Financial Year end is approaching on 31st March, 2021. A company management is required to make sure to comply various compliances on time from 1st April, 2021. The Companies Act 2013 read with relevant rules governs various provisions which a company is required to comply. And omitting to file any of mandatory compliance […]...

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Reopening proceeding based on wrong & incorrect facts was null & void

Space Chem Engineers Private Limited Vs ITO (ITAT Delhi)

Space Chem Engineers Vs ITO (ITAT Delhi) A perusal of the reasons recorded shows that the name of the companies from whom the assessee company is alleged to have accepted share capital / share application money are different from the companies mentioned in the assessment order from whom the assessee company has actually taken the [&hellip...

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Mere Word Satisfied Invalidates Section 148 Approval given without Reasoning

Tek Chand Vs ITO (ITAT Chandigarh)

Tek Chand Vs ITO (ITAT Chandigarh) The A.O. obtained the approval of the PR. CIT before issuing the notice under section 148 of the Act. The proposal dt. 11/03/2016 seeking the approval for issuance of notice under section 148 of the Act, by the A.O. is placed at page no. 2 & 3 of the […]...

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Judicious Software for Increasing GST Compliances

With the increasing compliances, there grows the need for a safe and sound system and ERP software which can automatically take care of the future notices, audit and other queries. With Increasing GST Compliances and new technological changes, now there arises the need to minimize the financial stress and mental stress by increasing the u...

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ITAT explains principals for addition of new source of income by CIT(A)

ITO Vs Angel Cement Pvt. Ltd (ITAT Delhi)

ITO Vs Angel Cement Pvt. Ltd (ITAT Delhi) Now coming to the issue of fresh addition made by the ld. CIT (A) by making enhancement on account of alleged commission income in three cases. Though as discussed above, the ld. CIT (A) has deleted the addition made u/s.68 on the ground that no unaccounted funds […]...

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AO must consider objection to Section 148 Notice: HC refers case back to AO

Purshottambhai Bachubhai Pitroda Vs DCIT (Gujarat high court)

Purshottambhai Bachubhai Pitroda Vs DCIT (Gujarat high court) Thus, on receipt of the reasons, the noticee is entitled to file his objections and the Assessing Officer, in turn, is obliged to dispose of the objections by passing a speaking order. Though the Assessing Officer had an opportunity at the stage of dealing with the objections [...

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Taxpayers are free to utilise ITC available in their credit ledger

Unconfirmed reports have appeared in certain sections of the media that some GST officers are using unauthorised communication means such as phone calls, WhatsApp and messages asking taxpayers to discharge  'maximum tax liability' in 'cash' in order to ensure that targets for revenue collection from GST  for the financial year are met....

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Mere issuance of scrutiny notice cannot stall the remittance of refund

Ingenico International India Pvt. Ltd. Vs DCIT (Delhi High Court)

Ingenico International India Pvt. Ltd. Vs DCIT (Delhi High Court) A plain reading of Section 241A shows that the mere issuance of the scrutiny notice under Section 143 (2) of the Act cannot stall the remittance of refund to the assessee. The refund can only be stalled if the conditions stipulated in Section 241A of […]...

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May 2021