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Archive: 25 June 2022

Posts in 25 June 2022

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

May 15, 2024 6705 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.

Division of single Tender to answer particular situations & ignore other situations is not correct: AAR

June 25, 2022 1290 Views 0 comment Print

AAR held that division of the single Tender to answer particular situations and ignore other situations will not be the right way to go forward and therefore this Authority will not be able to answer the questions raised by the applicant.

Letting out being primary intention, income taxable under house property

June 25, 2022 1131 Views 0 comment Print

Held that we are of the considered view that the predominant intention of entering into these agreements is letting out of the property and not provision of any independent services.

Sham Transaction cannot be alleged if other party is a statutory body

June 25, 2022 1386 Views 0 comment Print

ITAT held that it is not a sham and bogus transaction. One of the grounds considered for recording that finding is that when the other party is a statutory body the question of evasion of tax does not arise

Appeal against intimation under section 143(1)(a)/154 is maintainable

June 25, 2022 19698 Views 0 comment Print

Assessee contended That National Faceless Appeal Centre, Delhi erred in rejecting appeal filed by the assessee summarily by stating that appellant has not filed appeal against intimation order u/s 143(1) and tried to take back door entry by filing appeal against order u/s 154 for which the original cause of action has arisen at the stage of 143(1) itself without appreciating the fact that on first stage appellant has taken the remedy of filing application u/s 154 which is legal and as per the provision of Income Tax Act.

Subsidy as octroi duty refund to promote industrialization is a capital receipt

June 25, 2022 801 Views 0 comment Print

The assessee has received incentive in the form of Octroi refund under Govt. of Maharashtra Package Scheme of Incentives, 2007. We find that the Coordinate Bench of the Tribunal in the case of ACIT Vs. M/s. Universal Construction Machinery and Equipments Ltd. in an identical set of facts has held subsidy received by the assessee under Package Scheme of Incentives, 2007 as capital in nature.

Know all about Authorised Representative under IBC, 2016

June 25, 2022 7848 Views 0 comment Print

The amendment introduced in the Insolvency and Bankruptcy Code (Amendment) Ordinance, 2018 promulgated on 6 June 2018. Vide this amendment new concept has been introduced i.e. appointment of Authorised Representative for ‘class of creditors’.

A Bare Knuckle Truth About The Aviation Industry!

June 25, 2022 1965 Views 0 comment Print

A bare knuckle truth about the aviation industry is that globally, the airports and airlines struggle between balancing the impact of aviation on environment and customer satisfaction.

Admissibility of Social Media Messages as Evidence before Court of Law

June 25, 2022 12711 Views 0 comment Print

In this era where cyber space and digital environment has became one inextricable factor, the nature of evidence related to any case is also evolving to be digital.

Rate of Stamp duty on Shares and Debentures

June 25, 2022 3159 Views 0 comment Print

Understand the new provisions of the Indian Stamp Act and Finance Act regarding the rate of stamp duty on shares and debentures.

Section 194S – TDS on transfer of Virtual Digital Assets

June 25, 2022 39021 Views 1 comment Print

Learn about the new TDS section 194S and its implications on the transfer of virtual digital assets. Stay updated with the changes in the Income Tax Act.

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