A person is exempted from the requirement of registration if he is engaged in supplying only those goods and services which are exempt from registration and does not supply any other goods or services. If such a person deals in any other goods or services, he will not be eligible for such exemption.
Sunrise Containers Limited Vs C.C.E. & S.T. (CESTAT Ahmedabad) There is no dispute that the legal case was filed by the Distiller’s Association of Maharashtra which consists of many member manufacturers. Therefore, the beneficiary of the outcome is not only the appellant but all the members which means that the service was availed by all […]
GSTR1 & GSTR 3B return to be filed for the month of September is very significant as the taxpayers can rectify the errors, to the extent permissible, made / undisclosed in the returns filed during the previous financial year. The statutory timeline for the above irregularities can be rectified in the return filed for the […]
FINANCIAL YEAR [Section 2(41) of the Companies Act, 2013] Applicability: Every Company or Body Corporate Meaning: The period in respect of which Financial Statements of the company or body corporate are prepared, beginning and ending up as follows – SECTION 2(41) DATE OF INCORPORATION (DOI) FINANCIAL YEAR PERIOD ‘First’ Financial Year 1st Jan to 31st […]
The Income Tax Department carried out search & seizure operations on 28.09.2021 on a real estate developer group and the brokers connected with this group. Total of 22 residential and business premises were covered in the operation.
ACIT Vs Conwood Medipharma Pvt. Ltd. (ITAT Delhi) CIT(A) noted that the assessee had not claimed the said professional expenses in its profit & loss account and had capitalized the same under work in progress i.e. ‘Building under Construction’ in fixed assets schedule. The CIT(A) thus deleted the addition. We find merit in the order […]
Monarch Research & Brokerage P Ltd Vs C.S.T.-Service Tax – Ahmedabad (CESTAT Ahmedabad) The issue involved in this case is whether NSE/BSE transaction charges and SEBI turnover fees paid by the stock brokers to the concerned agencies and recovered from their client is liable to service tax under the category of stock broker service. On […]
Smt. Manorama Singhal Vs ITO (ITAT Indore) The Income Tax Appellate Tribunal (ITAT), Indore bench has held that the denial of opportunity to the assessee to conduct cross-examination of the parties who have stated to have received ‘on money from the sale of land would amount to a violation of natural justice principles. The Tribunal […]
No. 1 World Wide Express Pvt Ltd. Vs Union of India (Delhi High Court) In the present case there was a reference to a unilateral declaration of liability by the petitioner and not a quantification of demand by the Revenue in the letter/notice dated 20.11.2018 and therefore, the same does not make the petitioner eligible […]
DCIT Vs Surbhit Impex Pvt. Ltd (ITAT Mumbai) It is undisputed position that as on the relevant point of time, the proceedings against the assessee for recovery of these amounts were pending before the Hon’ble judicial forums. It was only on 29.01.2018, i.e., which much after the end of the relevant previous year, that Their […]
