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Archive: 01 January 2023

Posts in 01 January 2023

Section 11 exemption cannot be denied merely for delay in furnishing of Form 10B

January 1, 2023 8703 Views 0 comment Print

Exemption otherwise available to the assessee trust under section 11 cannot be denied merely on account of delay in furnishing of audit report in form 10B as required under section 12A(b) of the Act.

Section 80P deduction not allowed if Income Tax Return Filed after Due Date wef AY 2018-19

January 1, 2023 16044 Views 1 comment Print

Janki Vaishali Co-operative Housing Society Limited Vs CIT (Appeals)  (ITAT Mumbai) Undisputedly, assessee filed return of income on 24/12/2018 i.e. beyond the due date for filing return of income u/s. 139(1) of the Act for the Assessment Year 2018­19. The solitary reason for denying benefit of deduction u/s 80P of the Act is that the […]

Co-Op Society can Claim section 80P(2)(d) Deduction of Interest from Deposits in Co-Op Banks

January 1, 2023 1800 Views 0 comment Print

Ashoka Palace Co-op. Hsg. Soc. Ltd. Vs ITO (ITAT Mumbai) The issue whether interest income derived from deposits with cooperative banks is eligible for deduction under section 80P(2)(d) of the Act or not has been considered by Tribunal in catena of decisions. The Co-ordinate Bench in the case of Kaliandas Udyog Bhavan Premises Co-op Society […]

HC quashed order rejecting GST refund without serving relevant notice to petitioner

January 1, 2023 750 Views 0 comment Print

Adisan Laboratories Pvt. Ltd. Vs Union of India (Bombay High Court) The Petitioners have challenged the order passed by the Assistant Commissioner, Central Tax, Pune -1 Commissionerate, Pune dated 31 May 2022 rejecting the claim of the Petitioners for refund due to account of Input Tax Credit accumulated due to inverted duty structure. The procedure […]

Madras HC order on 44 writ petitions against GST Registration Cancellation order where appeals have been filed belatedly

January 1, 2023 2604 Views 0 comment Print

Pandidorai Sethupathi Raja Vs Superintendent of Central Tax (Madras High Court) This order, passed in a batch of 44 writ petitions is a sequel to several earlier orders passed in other batches of writ petitions wherein the cause of action is similar/identical to that in the present writ petitions. All petitioners challenge either orders passed […]

HC quashes order cancelling GST registration for violation of principle of natural justice

January 1, 2023 1209 Views 0 comment Print

Randhawa Construction Co Vs Union of India (Gujarat High Court) The show cause notice should reflect the jurisdictional facts based on which the final order is proposed to be passed. The person proceeded against would then have an opportunity to show cause that the authority had erroneously assumed existence of a jurisdictional fact and, since […]

Directed to refund payment deposited during search proceedings without issuing acknowledgement being not voluntary

January 1, 2023 1254 Views 0 comment Print

HC held that the amount deposited during search proceedings without an acknowledgement of acceptance issued in Form GST DRC-04 as mandated under Rule 142 of CGST Rules is involuntary thus, directed to be refunded.

No Addition for cash deposit due to wrong particulars of PAN given by Bank

January 1, 2023 1554 Views 0 comment Print

Parvez Peerpasha Inamdar Vs PCIT (ITAT Pune) It is seen that the only reason taken note of by the ld. PCIT for revising the assessment order is that the assessee had deposited Rs.92.25 lakh in his savings bank account which was not properly examined by the AO. The assessee categorically submitted before the AO that […]

ITAT deletes penalty for Failure to get Accounts Audited due to ill health of Wife

January 1, 2023 825 Views 0 comment Print

The assessee pleaded a reasonable cause before the AO that the audit could not be carried out because of ill-health of his wife, which further worsened the family problems. Section 271B is subject to provisions of section 273B which provides that in case of a reasonable cause, penalty under the concerned section need not be imposed.

Section 269SS not applicable on Cash Loan Taken from Brother & Mother

January 1, 2023 2460 Views 0 comment Print

Hitesh Manshukhbahi Dave Vs JCIT (ITAT Rajkot) Gujarat High Court in the case of Dr. Rajaram L. Akhaniv ITO [2017] 88 693 (Gujarat) has held that where assessee had accepted a sum of Rs. 2 lakhs from his son to meet urgent requirement of depositing margin money in bank account for buying a vehicle […]

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