The Income Tax Department carried out search and seizure operation on 25.08.2021 on a group based in Visakhapatnam at 17 different premises across Andhra Pradesh, Chhattisgarh, Nagpur and Kolkata. The group entities are engaged in extraction of vegetable oils, mining of manganese ore, and manufacturing of ferro alloys.
The Income Tax Department carried out a search and seizure operation on 24.08.2021 on a group based in Rajkot. The group is among Gujarat’s prominent real estate builders & developers and is actively engaged in real estate, construction and land trading businesses in and around Rajkot. More than 40 premises were covered in the operation.
HCL Comnet Ltd. Vs DCIT (ITAT Delhi) It is settled principle of law that generic dissatisfaction as to the correctness of the claim of the assessee without assigning any reason is not a valid satisfaction which is mandatory under section 14A(2) of the Act, as has been held by Hon’ble Supreme Court in case of […]
ITC─Conditions for availment S.16(2) stipulates 4 conditions for taking ITC as under; (a) Possession of tax invoice or debit note; (b) Receipt of goods or services; (c) Payment of tax in cash or through utilization of admissible ITC; (d) Filing of Return u/s 39. This clause starts with non obstante words, viz., “Notwithstanding anything contained […]
Charana Panda (HUF) Vs ITO (Orissa High Court) 1. The Petitioner contends that there is violation of Section 148-A of the Income Tax Act, 1961 (‘Act’) and also that the proceedings are time barred. The competency of the officer who issued notice under Section 148 of the Act is also questioned. 2. Issue notice. 3. […]
