Representation on issues faced by Assessee/taxpayer after introduction of Faceless Appeal Scheme, which require serious deliberation
Allocation of Region to 176 candidates selected to the post of Inspector of Income Tax in Central Board of Direct Taxes (CBDT)
Held that the Service tax is paid on the basis of the revenue realized towards the provision of the taxable services and not on the basis of the revenue recognition.
PCIT Vs Khyati Realtors Pvt. Ltd. (Supreme Court) Conclusion: Assessee was not entitled to claim deduction of bad debt as the case did not satisfy the ingredients of both Section 36(1)(vii) and Section 36(2) and also advance written off was not allowable as business expenditure u/s 37(1). Held: Assessee carried on real estate development business, […]
Held that CIRP cannot be allowed to continue for indefinite period. Refusal to approve the resolution plan due to non-serious, casual and non-diligent conduct of the resolution applicant is within the four corners of law.
Held that in absence of written arbitration agreement, the conduct between the parties cannot be construed to mean that, the parties had agreed to arbitration.
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CESTAT Kolkata held that bona fide belief that goods manufactured and cleared were not subject to excise duty needs to be established. Duty demand is sustainable in case the bona fide belief is not established.
Rochana Agarwal Vs ACIT (Allahabad High Court) The reason for issuing the notice under Section 148 of the Act is that during investigation, the Assessing Officer has gone through the income tax return and other related documents of the assessee and has found that the M/s KCGP Share Broking Service Pvt. Ltd. has been used […]
