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Archive: 08 August 2022

Posts in 08 August 2022

Section 234E is prospective and apply to tax period after 1.6.2015

August 8, 2022 1731 Views 1 comment Print

Shivansh Infraestate Pvt. Ltd Vs (ITAT Lucknow) ITAT find that it is undisputed fact that the assessee has been charged late fee u/s. 234E for various returns filed in the Form-26Q for late filing of the statements. These cases relate to Assessment Year 2014-15. The various Hon’ble High Courts including the Hon’ble Karnataka High Court […]

LLP Strike Off: Rules and Procedure

August 8, 2022 29133 Views 2 comments Print

Learn the rules and procedure for LLP strike off as per the Limited Liability Partnership Rules, 2009. Understand the mandatory and voluntary strike off process.

Time barred Section 115JB effect cannot be given by way of appeal effect

August 8, 2022 1332 Views 0 comment Print

G. E. Conductors Pvt. Ltd Vs ACIT (ITAT Amritsar) Admittedly, while framing the assessment vide order u/s 143(3) dated 21/3/2014, the assessing officer did not make any reference to section 11 5JB or give any working of section 11 5JB either in the assessment order or the accompanying documents (APB, Pg. 3 to 10). In […]

Tripura VAT: Audit cell cannot be delegated the power of assessment

August 8, 2022 723 Views 0 comment Print

Superintendent of Taxes attached to the Audit cell cannot be delegated the power of assessment by the Commissioner of Taxes.

Arbitral tribunal cannot review but can vacate/ modify the order

August 8, 2022 3708 Views 1 comment Print

Held that TDI was not seeking a review, but rather, a discharge/ modification of the conditions prescribed in the said interim order. Accordingly, Arbitral Tribunal was entitled to exercise the said option, having regard to the principles enshrined under Order XXXIX Rule 4 of CPC.

Service Tax: Suppression of Facts: Extended Period of Limitation Can Be Invoked For Assessment/Penalty Proceedings

August 8, 2022 14973 Views 0 comment Print

On 1.4.2007, the assessee took centralised registration and thereafter, the payment was not made until the show cause notice was issued. So the contention of the respondent bank that there was no suppression nor any mis-statement cannot be accepted. Section 73 of the Act gives extended period of limitation if there is suppression or misstatement or fraud or collusion.

GST on Renting of Immovable Property

August 8, 2022 93072 Views 4 comments Print

Renting of immovable properties has been divided in two part one is renting of commercial property and other is renting of residential property. Service by way of renting of commercial property is leviable to GST under forward charge mechanism form the inception of GST Law.

Analysis of the Limits under section 44AD – Tax Audit

August 8, 2022 56292 Views 7 comments Print

Gain clarity on the limits under section 44AD for tax audit. Understand the bare act and avoid confusion during the filing season.

How to write effective Internal Audit Report

August 8, 2022 7908 Views 0 comment Print

Learn how to write an effective internal audit report and avoid making your entire audit exercise futile. Discover the importance of proper reporting in the audit process.

CGST Bhiwandi busts fraudulent availment of ITC of Rs. 78 crore

August 8, 2022 1218 Views 0 comment Print

CGST Bhiwandi Commissionerate busts a case of non -payment of GST and fraudulent availment of ITC, amounting to Rs. 78 crore CGST Bhiwandi Commissionerate in Mumbai Zone based upon a specific intelligence has busted a case of non-payment of GST and fraudulent availment of Input Tax Credit, amounting to Rs. 78 Crore against M/S A […]

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