"01 May 2022" Archive

DGFT notifies procedure for allocation & imports under India–UAE CEPA

Public Notice No. 06/2015-2020 [File No. 01/89/180/01/AM-22/PC-2[B]/E- 31419] 01/05/2022

The Tariff Rate Quotas (TRQ) as mentioned in Notification No. 22/2022-Customs dated 30th April 2022 under India–UAE CEPA and procedure for allocation and imports under given TRQs is notified....

Read More

GST Revenue collection for April 2022 highest ever at Rs 1.68 lakh crore

The gross GST revenue collected in the month of April, 2022 is Rs 1,67,540 crore of which CGST is Rs  33,159 crore, SGST is Rs  41,793 crore, IGST is Rs  81,939 crore (including Rs  36,705 crore collected on import of goods) and cess is Rs  10,649 crore (including Rs  857 crore collected on import of goods)....

Read More
Posted Under: DGFT |

Section 148 Notice after expiry of 4 years on facts already available before AO, is bad in law

Peerless Hospitex Hospital and Research Center Limited Vs PCIT (Calcutta High Court)

Reopening of assessment u/s. 147 and issuance of notices u/s. 148 admittedly after expiry of four years from the end of relevant assessment year on the self­same material facts which were already available before the assessing officer at the time of regular assessment and without recording of any omission or failure on the part of the pe...

Read More

6% interest allowed on wrongful withholding of amount by Income Tax authority

Sanjeevkumar S/o Biharilal Kabra Vs Union of India (Bombay High Court)

Assessee who is deprived of refund of their amount in view of wrongful withholding of their amount by the authority cannot be refused to compensate for such wrongful deprivation of their amount lying with the authority for no fault of the assessees. We are inclined to allow the claim for the interest by way of compensation/damages at the ...

Read More

AAR cannot give ruling on issues already decided in audit proceedings

In re Medreich Limited (GST AAR Karnataka)

In re Medreich Limited (GST AAR Karnataka) AAR observed on examination of the records that the issues/questions raised by the applicant in the instant application have already been taken up by the audit team, in the case of applicant under the provisions of the CGST Act 2017. From the audit report mentioned supra it is […]...

Read More

Determination of place of supply, is beyond the scope of advance ruling

In re IBI Group India Pvt. Ltd. (GST AAR Karnataka)

Determination of place of supply is not covered under any of the clauses (a) to (g) of Section 97(2) of the CGST Act 2017. Further, the use of term 'shall', is an imperative command restricting the scope of advance ruling only to the questions enumerated in the said sub-section. Thus, to answer the question relating to determination of pl...

Read More

GST on computer software supplied to public funded research institutions

In re Keysight Technologies India Pvt. Ltd. (GST AAR Karnataka)

In re Keysight Technologies India Pvt. Ltd. (GST AAR Karnataka) The Notification No.45/2017-Central Tax (Rate) dated 14.11.2017 and Notification No.45/2017-Central Tax (Rate) dated 14.11.2017 stipulates the rate of CGST / IGST @ 5%, if the goods of computer software is supplied to public funded research institutions subject to fulfillment...

Read More

Section 126 of Electricity Act empowers AO to carry out provisional assessment & pass appropriate order

Vridhi Iron Steels Vs Assam Power Distribution Company Limited (Guwahati High Court)

Vridhi Iron Steels Vs Assam Power Distribution Company Limited (Guwahati High Court) Facts- The brief facts of the case is that the petitioner is a consumer of electricity having authorized connected load of 1105KW = 1300KVA and contracted demand of 1001 KVA. On 9/10/2018, a technical inspection of the petitioner’s electrical installati...

Read More

Reopening u/s 148 permissible in case of receipt of huge cash deposit vis-à-vis non-filing of ROI

Vanditbhai Rajendrakumar Patel Vs ITO (ITAT Ahmedabad)

Vanditbhai Rajendrakumar Patel Vs ITO (ITAT Ahmedabad) Facts- The brief facts of the case were that as per AIR information, the Ld. Assessing Officer came know that the assessee had received cash deposits of Rs. 25,21,100/-in saving bank account maintained with Corporation Bank. To verify cash deposits, letter dated 10-02-2017 was served ...

Read More

Addition permissible on the basis of digital data recovered during search

ACIT Vs Conc Shade Construction Pvt. Ltd. (ITAT Bangalore)

With regard to the evidentiary value of data recovered from computer in the form of digital data and other documents listed in earlier part of this order is concerned, section 132(4) of the Income-tax Act, permits the authorised officer to seize books of accounts and other documents....

Read More

Search Posts by Date

May 2022
M T W T F S S
 1
2345678
9101112131415
16171819202122
23242526272829
3031