No Penalty u/s. 271(1)(c) for filing inaccurate particulars of income when assessee filed Revised Return offering to tax rental income
The revised part of Form DPT-3 mainly deals with Deposit accepted from Public. One significant change in respect of exempted deposits has also been made in the Form.
Though at first glance insolvency and arbitration appear opposed, there are some circumstances when the two intersect sufficiently to warrant either legislative action or, failing that, judicial reflection.
Circular No. 723 dated 19.09.1995 – Section 172 applies to payments made to agents of foreign shipping companies so, section 194C not applies
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Non-response to notice is because of disputes between Partners & Inadequate time to reply, so levy of penalty u/s. 271(1)(b) deleted.
Telangana HC held that Refund is allowed in Inverted Duty Structure when Goods are supplied to Government at Concessional Rates (same HSN but Input at full rate)
Operational guidelines in respect of ‘License Fee’, ‘Platform Services’ and ‘Sharing of Infrastructure’ for DTH services in India. In furtherance of the amended DTH Guidelines issued on 30th December, 2020; this Ministry has issued the operational guidelines for Direct To Home (DTH) services in India. These Guidelines provide the operational framework in respect to the payment […]
Dive into a case study on Reverse Charge Mechanism (RCM) on Renting of Residential Dwelling Units under GST. Explore the implications, intricacies, and challenges faced by a registered person dealing with consultancy services. Uncover the nature of the transaction, tax liabilities, and potential issues related to compulsory registration. Gain insights into the complexities and possible clarifications needed for effective compliance.
No notice whatsoever was issued to the legal representative/s of the assessee before undertaking the reassessment proceedings. Thus, the impugned re-assessment and the assessment order having been passed against the dead assessee, is invalid and the same cannot be sustained in the eyes of law.
