"12 July 2021" Archive

Is Common Income Tax Portal Becoming Uncommon | 13 Errors

01st June 2021 was the day of the launch of the income tax portal 2.0 with a clear 10 days intimation in advance that the income tax services will not be available from 01st June till 07th June 2021 and any dates, timelines falling between 01st June to 10th June 2021 would be extended/ deemed extended. Nearly 1.5 months after [&helli...

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Posted Under: Income Tax |

CGST officials bust network of 23 firms for claiming ITC of Rs 91 crore

Based upon specific intelligence, the officers of the Anti Evasion branch of Central Goods and Service Tax (CGST) Commissionerate, Delhi (West) have unearthed a case of availment/utilization and passing on of inadmissible input tax credit (ITC) through goods less invoices of Rs 91 crore (approx)....

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Posted Under: Income Tax |

Delay in payment of Tax cannot be treated as an attempt to Evade Tax

Ganga Devi Somani Vs State of Gujarat (Gujarat High Court)

Ganga Devi Somani Vs State of Gujarat (Gujarat High Court) Here, from the facts of the case it appears that Company had voluntarily declared its intention to pay tax and 80% of the tax was paid prior to the complaint. The Income Tax Department was instructed regarding the dues from the GST Department and there […]...

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AP VAT: ACAR can review on application by dealer & other affected parties- HC

Gail (India) Ltd. Vs The Assistant Commissioner (CT) (Andhra Pradesh High Court)

Gail (India) Ltd. Vs Assistant Commissioner (CT) (Andhra Pradesh High Court) Section 67(5) of Andhra Pradesh Value Added Tax, 2005 pellucidly tells that authority for clarifications shall have the power to review, amend or revoke its rulings at any time for good and sufficient cause by giving an opportunity to the affected parties. It say...

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SC impose costs on Govt petitioner for wastage of judicial time

Commissioner of Customs Vs Sikkim Manipal University (Supreme Court of India)

Commissioner of Customs Vs Sikkim Manipal University (Supreme Court of India) We have perused the application for condonation of delay. No doubt some time period was spent in the High Court, but the High Court ultimately held that the appeal would not be maintainable but will lie to this Court vide order dated 06-12-2019. As […]...

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SCN based on proposed incorrect classification of revenue not Sustainable

Laesen & Toubro Limited Vs C.C.-Mundra (CESTAT Ahmedabad)

Laesen & Toubro Limited Vs C.C.-Mundra (CESTAT Ahmedabad) In view of the settled law, irrespective whether the classification claimed by the appellant is correct or not since the classification proposed by the Revenue is absolutely incorrect, the entire case of the Revenue will not sustain. Therefore, we are not addressing the issue t...

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Reactivate DIN/DSC of directors of defaulting Companies: Delhi HC

Anant Narain & Anr. Vs Union Of India & Anr. (Delhi High Court)

Anant Narain Vs Union Of India & Anr. (Delhi High Court) In furtherance of the purpose of CFSS-2020, directors of struck off companies who seek to be appointed as directors of other/new companies, ought to be provided an opportunity to avail of this scheme, provided that they have undergone a substantial period of their disqualificati...

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Assessee not become beneficial Owner because in account opening form name of the Assesse written as beneficial Owner

Addl. CIT Vs Jatinder Mehra (ITAT Delhi)

Addl. CIT Vs Jatinder Mehra (ITAT Delhi) It is apparent that assessee does not own any share capital in case of Watergate advisors Limited as well as it also does not controls the above company as he does not have any shareholding or management rights in that With respect to the mention of the name […]...

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SVLDRS 2019: HC directs Designated Committee to follow section 127 procedure

Akshaya Aqua Farms Vs Designated Committee (Madras High Court)

Akshaya Aqua Farms Vs Designated Committee (Madras High Court) The petitioner challenges order passed by the first respondent, the Designated Committee rejecting its application under the Sabka Viswas (Legacy Dispute Resolution) Scheme. The order is a one liner, which simply says ‘Dear Taxpayer, your SVLDRS Form for the ARN No LD111...

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Section 68 addition for share capital & Premium without any verification not sustainable

Seth Carbon and Alloys Private Limited Vs DCIT (ITAT Mumbai)

Seth Carbon and Alloys Private Limited Vs DCIT (ITAT Mumbai) We find that assessee by furnishing all the aforesaid documents had duly explained the nature and source of credit in the form of share capital and share premium received from the aforesaid two shareholders. From the balance sheet of the shareholders, it could be seen […]...

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