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Archive: 12 December 2022

Posts in 12 December 2022

Live Course on Appeal, Pleading & Drafting under GST by CA Sachin Jain

May 15, 2024 6471 Views 0 comment Print

oin us for an immersive live course led by renowned expert CA Sachin Jain, as we delve into the intricacies of appeal, pleading, and drafting under GST.

Presumptive Taxation Scheme under Income Tax Act, 1961

December 12, 2022 14526 Views 0 comment Print

Explore the Presumptive Taxation Scheme under the Income Tax Act, 1961. Understand the provisions of Sec 44AB, recent amendments, and key considerations for tax audit.

Appointment of Additional Director – Prerequisites and Procedure

December 12, 2022 16017 Views 0 comment Print

Learn the prerequisites and step-by-step procedure for the appointment of an Additional Director in a company. Explore the legal requirements, documentation, and filing processes for a seamless appointment under the Companies Act.

Procedure to Incorporate One Person Company

December 12, 2022 6495 Views 0 comment Print

Unlock the step-by-step procedure to incorporate a One Person Company (OPC) under the Companies Act of 2013. Learn about the advantages, disadvantages, and the seamless registration process for forming a solo-owned business entity.

Sugar Policy and Sugar Mill wise export quantity of sugar for export in sugar season 2022-23

December 12, 2022 5016 Views 0 comment Print

Government has decided to allocate sugar mill wise export quota of 60 LMT of sugar for export for sugar season 2022-23 w.e.f. 01.11.2022 (list of the sugar mill is enclosed at annexure).

Date of allotment is to be considered for computing period of holding

December 12, 2022 3084 Views 0 comment Print

ITAT Chennai held that for the purpose of computing period of holding, date of allotment should be considered, but not the final sale deed executed for conveying the title and interest in the property.

Forceful Recovery during Search, Inspection and Investigation under the Guise of “Voluntary Payment” under the GST Act- An analysis

December 12, 2022 2859 Views 0 comment Print

Instances of coercion, threats of arrest and forceful recovery of tax by officials during the time of search, inspection and investigation are often the subject of numerous writ petitions praying for a refund of the said amount.

ITAT refers matter back to AO as Assessee challenged legal grounds 1st time before ITAT

December 12, 2022 1434 Views 0 comment Print

Smt. Tajinder Pal Kaur Vs ITO (ITAT Amritsar) The assessee has challenged both the legal and factual grounds before the Bench. But during the appeal proceedings before the ld. CIT(A), the assessee had not challenged the legal grounds so there are first time challenging the issue before the ITAT. So, the entire legal ground was […]

SBN deposited during demonetization – ITAT remanded matter back to AO

December 12, 2022 1446 Views 0 comment Print

Sh. Jagjit Singh S/o Inder Singh Vs ITO (ITAT Amritsar) Considering the order of the revenue authorities the assessee was not able to submit the confirmation from the sundry debtor, M/s AD Traders. The confirmation is annexed with the paper book of the assessee APB page no. 3. The assessee received SBN during demonetization period […]

Headache of HSN Code for GST taxpayers in GSTR-9 for FY 21-22

December 12, 2022 101628 Views 5 comments Print

From FY 2021-22 onwards, it shall be mandatory to report HSN Summary for Outward Supplies in Table 17 at 6 digits for taxpayers having annual turnover in preceding FY above Rs. 5 Cr. and at 4 digits for all B2B supplies for taxpayers having annual turnover in the preceding FY up to Rs. 5 Cr. The registered person shall have an option to not fill HSN Summary for Inward Supplies in Table 18.

Cash deposited during demonetization period due to cash sales cannot be added as unexplained

December 12, 2022 15594 Views 0 comment Print

ITAT Bangalore held that cash deposited on account of cash sales during demonetization period cannot be added as unexplained under section 68 of the Income Tax Act as AO didn’t rejected the books of accounts nor brough anything contrary on records to show that cash sales is not the source for cash deposit.

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