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Archive: 22 June 2022

Posts in 22 June 2022

Live Course on Appeal, Pleading & Drafting under GST by CA Sachin Jain

May 15, 2024 6999 Views 0 comment Print

oin us for an immersive live course led by renowned expert CA Sachin Jain, as we delve into the intricacies of appeal, pleading, and drafting under GST.

Unfolding the ‘Defence’ in Section 149 of Income Tax Act

June 22, 2022 18801 Views 1 comment Print

Reading a decision is one thing and interpreting the same is another, isn’t it? Many times, verdict of the decisions written itself per se do not give the correct meaning until the same is read in a proper context or perspective with the facts of each case.

Section 194R – TDS on benefits or perquisite provided

June 22, 2022 248322 Views 17 comments Print

Understanding Section 194R of the Income Tax Act – TDS on benefits or perquisite provided. Stay compliant with the new TDS regulations.

Filing Refund under GST Law

June 22, 2022 3318 Views 0 comment Print

Under what circumstances can you file an application for refund? Single application form/multiple forms? What if we missed the timeline for reply to notice? Which documents are to be uploaded with application form? Where to check the status of refund application.

Roadmap/Blueprint of External Commercial Borrowings (ECBs)

June 22, 2022 1539 Views 0 comment Print

Learn about the roadmap and blueprint of External Commercial Borrowings (ECBs). Understand how Indian companies can mobilize funds from the foreign market for optimal capital structure.

Adjustment on debatable issue not permitted in section 143(1)(a) intimation

June 22, 2022 1371 Views 0 comment Print

City Manager Association Ahmedabad Municipal Corporation Vs DCIT (ITAT Ahmedabad) Let us consider the scope of section 154 for making prima facie adjustment while processing return under section 143(1)(a) of the Act i.e. process of dealing with the return is an ex parte process. It is pertinent to observe that whenever any debatable issue is […]

HC Quashes assessment order for non-consideration of submission of Assessee

June 22, 2022 1221 Views 0 comment Print

Baxter India Private Limited Vs Addl. CIT (Delhi High Court) 1. Present writ petition has been filed challenging the impugned assessment order dated 31st March, 2022 passed for the Assessment Year 2016-17 under Section 147 read with Sections 144 & 144B of the Income Tax Act, 1961 (for short ‘Act’) as well as demand notice […]

IGST Refund Allowable On Zero Rated Supplies despite duty drawback claim at higher rate

June 22, 2022 1116 Views 0 comment Print

Phoenix Contact India Private Limited Vs Commissioner of Customs (Exports) (Delhi High Court) Despite the correction having been permitted, the refund of IGST was not granted to the petitioner. The petitioner has remained engaged with the respondent/revenue in this regard since October, 2018. Because there was no movement in the matter, the petitioner was propelled […]

Legality of show cause notice & Order based on mismatch in ITC under GST

June 22, 2022 1590 Views 0 comment Print

Mahendra Feeds and Foods (Trading Division) Vs Deputy Commissioner of GST and Central Excise (Madras High Court) The petitioner is a dealer under the GST regime. He has availed Input Tax Credit (ITC) for the Financial Year 2017-18 and 2018-19 from December 2017 to March 2019. But, according to the Revenue, the ITC claimed by […]

Credit for TDS is available in the year in which income is reported

June 22, 2022 1965 Views 0 comment Print

Interglobe Entreprises Pvt. Ltd Vs ACIT (ITAT Delhi) A combined reading of Section 199(3) r.w. Rule 37BA(3) makes the position of law clear that credit for TDS is available in the year in which the income is reported and as a corollary, should not be deferred to some other assessment year. In the instant case, […]

ITAT upheld disallowance of losses by client code modification

June 22, 2022 507 Views 0 comment Print

Chandresh Luniya Vs ITO (ITAT Ahmedabad) The facts in brief are that the assessee in the present case is an individual and engaged in the activity of derivative business of shares and securities. In the present case it was found by the AO that the assessee has obtained the benefit of accommodation entries by way […]

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