"04 June 2021" Archive

HC allows Filing of GST Form TRAN-1 or TRAN-2 online/manually

R.R. Distributors Pvt. Ltd Vs Commissioner Of Central Tax, GST (Delhi High Court)

R.R. Distributors Pvt. Ltd Vs Commissioner Of Central Tax, GST (Delhi High Court) In our view, the non- filing of part 7B of table 7(a) and table 7(d) of TRAN-1 Form cannot impair the rights of the petitioner to claim transitional ITC, if he is otherwise eligible. This Court has observed in numerous decisions that […]...

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No Service tax on food served as ‘take away’ or ‘parcels’

Anjappar Chettinad A/C Restaurant Vs Joint Commissioner (Madras High Court)

Anjappar Chettinad A/C Restaurant Vs Joint Commissioner (Madras High Court) 1. In the case of take-away or food parcels, the aforesaid attributes are conspicuous by their absence. In most restaurants, there is a separate counter for collection of the take-away food parcels. Orders are received either over telephone, by e-mail, online book...

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Notional income on advances to Sister Concerns cannot be taxed in absence of any provision

ITO Vs Max Ventures Investment Holdings Pvt. Ltd. (ITAT Delhi)

ITO Vs Max Ventures Investment Holdings Pvt. Ltd. (ITAT Delhi)  An addition can be made u/s 69B of the Act where during any financial year the assessee has made investments or is found to be the owner of any bullion, jewellery or other valuable article, which exceeds the amount recorded on this count in the […]...

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ICAI releases Exposure Draft of Ind AS Taxonomy for Comments

In view of implementation of Ind AS 116, ‘Leases ’applicable from the financial year 2019-20, and amendments in other Ind ASs, CSR Rules etc (applicable from FY 2019-20 & 2020-21), Ind AS XBRL taxonomy has been amended for financial reporting purposes....

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Post Incorporation Tax & Legal Compliances for Private Limited Companies

Running a company smoothly is a difficult task! Handling finances and meeting various statutory compliances is no exception. Post – incorporation, a company must comply with various mandatory compliances under different laws. In case of non-compliance, strict penalties, interest, fines, and fees are imposed. As a quick reference, I have...

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Section 12AA registration cannot be denied for mere non-spend of income for charitable activities

Dr. NT Ghatte Charitable Trust Vs. CIT (Exemption) (ITAT Pune)

Dr. NT Ghatte Charitable Trust Vs. CIT (ITAT Pune) Merely because the trust has not spent any amount of its income for charitable activities and the fact that the trust has not spent any amount of income for charitable purpose does not amount to carrying on the activities contrary to its objects. The submission of […]...

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Charges under GST

Charges under CGST is covered under Section 9 (1) & 9 (2) of CGST Act, 2017 while Charges under IGST Falls under Section 5 (1) & 5 (2) of IGST Act, 2017. CGST IGST   Levy and collection under section   > A taxable person shall pay CGST on any intra-state supply of goods/services or […]...

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Request to Extend Due Dates under Direct Tax

To Extend the date of Filling ITRs, Audit and Revise returns for F.Y. 19-20, it was earlier extended to 31st may 21, on after one month passing from the last date (31st March 2021) and everywhere the situation was worse, still the situation is same almost everywhere hence give a chance again to get it filled up to 31st July 2021....

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Income of Husband cannot be taxed as Income of wife for mere Joint Account & such Account cannot be treated as undisclosed foreign a/c 

ITO Vs Ayesha Abid Ali (ITAT Hyderabad)

ITO Vs Ayesha Abid Ali (ITAT Hyderabad) We find that the Assessing Officer has made the addition in the hands of the assessee of interest income from an A/c with HSBC held by the assessee jointly with her husband which was opened by his employer to deposit his salary income. Therefore, it is not an […]...

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HC allows filing of ITR in Paper form till disposal of appeal challenging Rule 12

City And Industrial Development Corporation of Maharashtra Limited Vs ACIT (Bombay High Court)

City And Industrial Development Corporation of Maharashtra Limited Vs ACIT (Bombay High Court) In this case Bombay HC permitted the Petitioner to file paper return for the assessment year 2020-21 before 31st May, 2021 subject to the further orders that may be passed by this court at the stage of admission or thereafter till this […...

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