"18 July 2022" Archive

Section 147 Proceeding without reporting reasons for reopening is unsustainable

Sh. Ghasi Lal Gurjar Vs ITO (ITAT Jaipur)

Held that the department has failed to issue notice, failed to report the reasons for reopening the case and also failed to take the approval of the appropriate authority before as initiation of proceedings u/s 147 of the I.T. Act. Appeal allowed on technical ground....

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Addition by brushing aside the records submitted by assessee are unsustainable

PCIT Vs Sreeleathers (Calcutta High Court)

Held that assessee submitted the records. Hence, the assessee has discharged his initial burden and the burden shifts on the assessing officer to enquire further into the matter which he failed to do....

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Addition towards cloud based services, not a royalty, not sustainable

MOL Corporation Vs ACIT (ITAT Delhi)

Held that the authorities fallen in error in considering the subscription received towards cloud serviced to be royalty income...

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Service tax cannot be levied under RCM for letting out of residential property by Director to Company

Mec Shot Blasting Equipment Ltd. Vs Commissioner (CESTAT Delhi)

CESTAT held that service tax cannot be levied on the company for payment of rent to the director unless such premises are used for commercial purpose....

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Addition u/s 40A(3) of Income Tax Act in absence of evidence of tax evasion is unsustainable

Heera Mani Devi Vs ITO (ITAT Patna)

ITAT Patna held that in absence of any evidence of tax evasion by showing fictitious or false transactions, addition by invoking provisions of section 40A(3) of the Income Tax Act unsustainable....

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‘Himalya Real Estate’ not passed ITC benefit to 189 homebuyers: NAA

Rahul Gautam Vs Himalya Real Estate Pvt. Ltd. (NAA)

Rahul Gautam Vs Himalya Real Estate Pvt. Ltd. (NAA) The Authority finds that, the DGAP has given a categorical report based on its verification that, the benefit of ITC has been passed on by the Respondent to all 189 homebuyers/customers who have booked their units on or after 1.07.2017 by way of giving deduction in […]...

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AAR refrained from answering the question raised as matter is sub-judice

In re Rameshwar Havelia (GST AAR Uttarakhand)

Rameshwar Havelia (GST AAR Uttarakhand) - We refrain ourselves from answering the question raised by applicant as the matter is sub-judice....

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Serving of liquor is not charitable activity under section 2(15)

Federation of Delhi Textile Merchants Vs ITO (ITAT Delhi)

ITAT held that ‘serving of liquor is not charitable activity under section 2(15) of the Income Tax Act, 1961,...

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Late Filing of Appeal – Scarcity of Advisors not valid reason for SBI

State Bank of India Vs ACIT (ITAT Pune)

State Bank of India Vs ACIT (ITAT Pune) We find that the assessee had deducted TDS as per rates prescribed by the Act and the same was deposited in Central Government account, but with a delay in filing the TDS statement as required under law. For such failure the respondent-revenue levied late fee u/s. 234E […]...

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Levy of Goods & Services Tax (GST) on the fees payable to SEBI

Circular No. SEBI/HO/GSD/TAD/CIR/P/2022/0097 18/07/2022

GST Council in its meeting held on June 28 and June 29, 2022, recommended inter alia to withdraw the exemption granted to services by SEBI and the same has been notified vide Notification No.4/2022 dated 13th July, 2022....

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