Jindal Exports And Imports Private Limited Vs DCIT (Delhi High Court) Impugned assessment orders are liable to be set aside as the Petitioner was not given adequate opportunity to file response to the said show cause notice-cum-draft assessment orders. Consequently, as there has been a violation of principle of natural justice, the impugned assessment orders […]
Superintendent of Jails Vs ITO (ITAT Visakhapatnam) It is noted that the TDS quarterly returns were filed belatedly after 1/6/2015 ie., the date of insertion of section 200A by Finance Act, 2015 w.e.f 1/6/2015. Therefore, on merits, we have no hesitation to come to a conclusion that the late fees levied by the Ld.AO is […]
Prakash Mithalal Oswal Vs ITO (ITAT Pune) It is found that the reported income and the assessed income of the assessee remain same except for minor disallowance of expenses. The AO has imposed penalty only with reference to the amount of Rs.50.00 lakh and odd which was suo motu declared by the assessee in the […]
ITAT held that Assessee has vested right to claim Foreign Tax Credit (FTC) under the tax treaty, the same cannot be disallowed for mere delay in compliance of a procedural provision, that is ‘delay in filing Form No.67’.
Impugned Section 271(c) penalty has arisen in consequence to the lower authorities action disallowing the assessee’s section 54F deduction claim. And in assessee’s quantum appeal ITAT has already deleted the foregoing 54F disallowance and therefore, penalty in issue herein has no legs to stands as a necessary corollary.
High Court held that IBC law overrides Income Tax law. The assessment proceedings initiated by the Income Tax Department for the assessment year which is covered by the date of resolution plan approved by the NCLT is not permissible as per IBC and hence, notices issued during the said period are liable to quashed.
Form DPT-3 shall be used for filing return of deposit or particulars of transaction not considered as deposit (exempted deposits) or both by every company other than the companies mentioned above. Such deposits and exempted deposits that are outstanding as on 31.03.2022, needs to be reported.
Understand the recovery of interest without adjudication under GST. Learn about the provisions and procedures for tax recovery in the CGST Act.
Learn how to report the transfer of shares between a resident and non-resident as per the Foreign Exchange Management Act and Regulations.
Asiatic Drugs & Pharmaceuticals Pvt Ltd Vs Commissioner CGST (CESTAT Delhi) The issue in this appeal is whether the refund claim of the appellant-asseesse have been rejected which was collected on ocean freight. CESTAT find that the transaction value for Custom duty and Excise duty (CVD), includes the ocean freight, and accordingly I hold that […]
