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Archive: 14 January 2023

Posts in 14 January 2023

 Should you lease your gold? 

January 14, 2023 6318 Views 1 comment Print

Gullak introduces Gold leasing with their new feature Gold+. Lease your Gold to get 5% extra returns, giving 16% overall returns on your gold investments

Services provided by GTA not classified as ‘Clearing & Forwarding Agency’ service

January 14, 2023 1482 Views 0 comment Print

HC Held that, providing services of ‘Goods Transport Agency’ (GTA) does not fall within the category of ‘Clearing and Forwarding Agent’, provided to several recipients who were liable to discharge tax dues on freight under ‘RCM after availing permissible abatement.

GST Registration cancellation order set aside due to lack of reasoning

January 14, 2023 537 Views 0 comment Print

HC set aside the order of cancellation of GST Registration of the assessee and held that the cancellation of the GST Registration through a non-speaking order without mentioning the grounds for such cancellation is cryptic in nature and violates the principles of natural justice.

‘Old Indian Settlers’ cannot be excluded From Definition of Sikkimese In Section 10(26AAA) of Income Tax Act: SC

January 14, 2023 1977 Views 0 comment Print

SC ruling on Whether settled Indian citizens in Sikkim before it became an Indian State w.e.f 26-04-1975 are eligible for exemption u/s 10(26AAA) of Income-tax Act,1961

Special road tax is Regulatory tax and not penalty: SC

January 14, 2023 5994 Views 0 comment Print

Whether special road tax charged by State of Himachal Pradesh for motor vehicles violating rules is in the nature of penalty and thus against competence of State under Constitution of India?

Surcharge under OST Act is leviable before deducting entry tax paid by dealer

January 14, 2023 1062 Views 0 comment Print

Surcharge under Section 5A of OST Act is to be levied before deducting entry tax paid by dealer pursuant to Orissa Entry Tax Act, 1999.

VCR/E-challan or Prosecution Report shall not be a bar for cancellation of vehicle registration

January 14, 2023 2655 Views 0 comment Print

Pendency of arrear tax and penalty under Odisha Motor Vehicles Taxation Act, 1975 or Tax Recovery Proceeding or audit dues (IR) or VCR/E-challan or Prosecution Report shall not be a bar for cancellation of certificate or registration under Section 55 of MV Act.

Transfer not complete if possession not delivered to purchaser

January 14, 2023 5328 Views 0 comment Print

ACIT Vs Shree Ami Office Owner’s Association (ITAT Ahmedabad) The issue for consideration is the year of taxability of the property. We observe that in the instant case, both the registered sale deed as well as the possession of the property was transferred in the subsequent financial year i.e. financial year 2007-08. The complete payment […]

TDS credit cannot be denied in the year in which corresponding income been declared

January 14, 2023 3339 Views 0 comment Print

Revenue is under obligation to give suitable credit for such deduction either in the year in which the corresponding income has been declared or in the year in which TDS credit has been received in the Treasury

HC directs tribunal to examine Validity of audit assessment on account of delay in submission of AVR under Orissa Entry Tax Act

January 14, 2023 957 Views 0 comment Print

Tribunal will examine whether the audit assessment is invalid on account of the delay in submission of the AVR in terms of Section 9-C (5) of the OET Act and in light of the decision of this Court in M/s. Chandrakanta Jayantilal, Cuttack

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