"05 September 2021" Archive

No bar on CA giving Business Consultancy for Export: CESTAT

Bharat Mines & Minerals Vs Commissioner, Central Goods & Service Tax, Customs & Central (CESTAT Delhi)

Bharat Mines & Minerals Vs Commissioner, Central Goods & Service Tax, Customs & Central (CESTAT Delhi) I find that the invoices in question were issued by the Chartered Accountant- Anuj Maheshwari and Company, copy of which is available in the appeal record. The invoices reads as ‘professional consultancy for export against ...

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Twist in the Tale – Old Section 148 vs. New section 148A Controversy

The deferment of application of old provisions of section 148 was done by the CBDT, Ministry of Finance by way of conditional legislation in the peculiar circumstances which arose during the pandemic and lock down. Hence, there being no full delegation of powers in the scenario, the Central Government cannot be said to have encroached upo...

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Posted Under: Service Tax |

NO ITR for 75+ years old Taxpayers w.e.f. A.Y. 2022-23

In order to provide big relief, to the senior citizens aged 75 or above from IT filing, Ministry has introduced Section 194P in the Income-Tax Act, 1961 via the Finance Act 2021. New Section 194P is applicable from 1st day of April 2021. They can give a simple declaration to his/her bank to get exemption […]...

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Posted Under: Service Tax |

HC upheld addition for cash payment for shares from unexplained Sources

Jaidayal Prannath Kapur Vs CIT (Madras High Court)

Jaidayal Prannath Kapur Vs CIT (Madras High Court) The assessment for the Assessment Year under consideration, AY 2002-03, was reopened and notice under Section 148 of the Act was issued. From the findings recorded by the Assessing Officer in the Assessment Order, dated 19.12.2007, we find that, initially, the assessee did not extend full...

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Place of Supply Provisions’ for classifying a transaction as ‘Export of Service’

Analysing the ‘Place of Supply Provisions’ for classifying a transaction as ‘Export of Service’ under GST regime Facts of the Case: ABC Pvt. Ltd. registered in state of Maharashtra imported goods from a UK based company (not having Permanent Establishment in India). Also, some services are to be provided by the UK based company al...

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Posted Under: Service Tax |

FM laid foundation stone today for office building of I-T Department

Smt. Nirmala Sitharaman, Hon’ble Union Minister of Finance and Corporate Affairs laid foundation stone today for office building of Income Tax Department Smt. Nirmala Sitharaman, Hon’ble Union Minister of Finance and Corporate Affairs laid foundation stone on 5th September, 2021 for office building of Income Tax Department at plot No....

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Posted Under: Service Tax |

Normal depreciation is legitimate deduction in computing real income on general principles

The Music Academy Madras Vs DDIT (Exemptions) (Madras High Court)

The Music Academy Madras Vs DDIT (Exemptions) (Madras High Court) It is not in dispute that the substantial questions of law framed for consideration have been answered in favour of the assessee by the Hon’ble Supreme Court in the case of CIT vs. Rajasthan and Gujarati Charitable Foundation Poona reported in (2018) 402 ITR 0441 [&he...

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Legality of Rummy Games in India

The use of online rummy games, especially amongst youngsters, has erroneously increased over the time. Many queries have been received by us, by both the sects of people i.e., by the people who are playing such games and from the people who are running such mobile applications or web pages as well. Accordingly, in this […]...

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Posted Under: Service Tax |

The Ailing Income Tax Portal

Government of India is implementing digitization at a rapid pace in the field of Direct Taxes. In the process a new Income Tax Portal was launched on 6th of June, 2021 with an intention to improve the functioning of income tax portal and to facilitate and ease the filing of Income Tax Returns and various […]...

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Posted Under: Service Tax |

Income Tax Provisions Applicable on Non Residents for Filing Returns In India

In this article, we shall discuss the important points to consider while filing the Income Tax Return for Non resident Indians (‘NRI’). Following points shall be discussed in the article: I. CRITERIA FOR FILING INCOME TAX RETURN II. INCOME CHARGEABLE TO TAX IN INDIA FOR NRI III. TREATMENT OF EXEMPT INCOME FOR SLAB CALCULATION IV. [&he...

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Posted Under: Service Tax |

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