Advance ruling is not binding on the supplier, and the supplier may not follow the ruling and In such a scenario, the advance ruling loses its relevance and applicability.
Stay updated on the latest GST updates till 1st June 2022. Learn about the growth rate, economy recovery, and tax deposit guidelines.
Important due dates for filing ROC forms in June 2022. Learn about the forms, their purpose, actual due dates, and additional fees.
CBIC notifies Rate of Exchange of Foreign Currencies against Indian Rupees with effect from 3rd June, 2022 vide Exchange rate Notification No. 49/2022-Cus (NT) dated 02.06.2022 Government Of India Ministry Of Finance Department Of Revenue Central Board Of Indirect Taxes And Customs New Delhi ***** Notification No. 49/2022 – Customs (N.T.) | Dated 2nd June, […]
Indo Unique Flame Limited Vs Commissioner of Central Excise & Service Tax (CESTAT Mumbai) The Adjudicating Authority has proceeded to determine tax liability under section 73 of Finance Act, 1994, along with appropriate interest under section 75 of Finance Act, 1994, and impose penalties under section 77 and 78 of Finance Act, 1994 without the […]
ACIT Vs Durga Granites (ITAT Hyderabad) ITAT held that if the partners of the assessee-firm had introduced the cash in their respective books and thereafter transferred the same to the books of the assessee firm then probably the onus may be on the partners of the assessee firm to establish the source of the cash […]
Learn about the relaxation in payment of additional fees and extension of dates for LLP forms. Stay updated with the latest circular issued by the Ministry of Corporate Affairs.
Netra Software Technologies P Ltd. Vs ACIT (CPC) (ITAT Bangalore) In the present case, the assessee has not enclosed any evidence along with the return suggesting completion of construction of commercial building and its readiness to let out, as such the ACIT(CPC) denied the interest claimed by the assessee by way of intimation sent to the […]
CIT LTU Vs Nuclear Power Corporation of India Ltd. (Supreme Court ) We have some reservations on the observation made in the impugned judgment that the Commissioner, while exercising the power of revision under Section 263 of the Income Tax Act, 1961, cannot examine an issue on merits. However, we are not inclined to issue […]
When there was no clear documentary evidence to prove the identity of the assessee the burden of proof lies on him claiming the benefit of being the assessee.
