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Archive: 24 November 2022

Posts in 24 November 2022

Procedure for inspection of goods in movement under GST Law

November 24, 2022 21981 Views 0 comment Print

Understand the procedure for inspecting goods in transit under GST Law. Learn about the relevant sections and rules that govern the inspection process.

Laws against Benami Property in India

November 24, 2022 1992 Views 0 comment Print

Learn about the Benami Transactions (Prohibition) Amendment Act, 2016 and the measures taken to confiscate Benami property in India.

For Mega Exemption notification word ‘building’ includes shop and flats 

November 24, 2022 1566 Views 0 comment Print

Prajapita Brahma Kumaris Ishwariya Vishwa Vidyalaya Vs Commissioner Of CGST & CE (CESTAT Mumbai) The only objection which has been raised is to the word ‘building’ used in the Notification No 25/2012-ST whereas appellant are claiming exemption in respect of shop and flats purchased by them from the M/s Yog Reality. In the impugned order […]

If assessee not earned exempted income, there cannot be section 14A disallowance

November 24, 2022 882 Views 0 comment Print

Vertex Securities Ltd Vs ITO (ITAT Cochin) The assessee has made an investment in equity shares of Rs.5,84,10,100/-. The dividend from such investment is exempted from the tax. Accordingly, AO computed the disallowance u/s 14A of the Act at Rs.11,84,111/-. The same was confirmed by the Ld. CIT(A). Before us, Ld. A.R. submitted that assessee […]

Software Products Sale not Taxable as Royalty under India-Singapore DTAA

November 24, 2022 837 Views 0 comment Print

Issue which requires examination is whether the amount received by assessee towards sale of software products and provision of maintenance services would be taxable as royalty under Article 12 of India-Singapore DTAA.

During Assessment AO should take cognisance of revised return: ITAT

November 24, 2022 1635 Views 0 comment Print

Kothari Brothers Vs ITO (ITAT Ahmedabad) The assessee submitted that the appeal before the CIT(A) was filed in respect of rejection of rectification application and thereby disallowance of claim for carry forward losses in revised return needs to be looked into. The original return of income for A.Y. 2007-08 was filed on 24.11.2007 declaring total […]

PCIT cannot substitute his view with view of AO & direct AO to make assessment in a particular manner

November 24, 2022 1005 Views 0 comment Print

Komara Gounder Chinnusamy Vs ITO (ITAT Chennai) The PCIT has revised assessment order passed by the AO u/s.143(3) r.w.s.147 of the Act, on the issue of trade discount received by the assessee from M/s. SKM Animal Feeds and Foods (India) Pvt. Ltd., amounting to Rs.23,16,261/-. According to the PCIT, although, the assessee has received trade […]

CESTAT directs Commissioner (Appeals) to decide considering SC judgement in case of Coal Handlers

November 24, 2022 591 Views 0 comment Print

M R Patel & Sons Vs C.S.T. Service Tax (CESTAT Ahmedabad) CESTAT find that the present case involved mix question of law and facts. The learned Commissioner (Appeals) decided the matter relying on the Tribunal’s decision in the case of Coal Handlers (supra) wherein it was held that the identical services are classifiable under clearing […]

Cost of acquisition/improvement not allowable in absence of corroborative evidences

November 24, 2022 10929 Views 0 comment Print

Janardhan Gupta Vs DCIT (ITAT Delhi) ITAT find that as emanating from the facts narrated above, the revenue authorities have disallowed the assessee’s claim of cost of purchase and cost of improvement de hors any corroborative evidences. In our considered opinion, there is no infirmity in the orders of the authorities below as onus is […]

Demand to pay NCCD after limitation period under Section 11AC not sustainable

November 24, 2022 282 Views 0 comment Print

Maheshwari Texturisers Limited Vs Commissioner of Central Excise & ST (CESTAT Ahmedabad) CESTAT find that the issue involved is of levy of NCCD in respect of Partially Oriented Yarn falling under Chapter 5402 consumed actively for the manufacture of Polyester Texturized Yarn. On the said issue, there are number of judgments as cited by the […]

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