Understand the essence of key changes to Input Tax Credit rules with GST Council. Know what Rule 37A in GST implies for taxpayers? Find out here!
GST on slump sale? Understand how the Central Board of Indirect Taxes & Customs view slump sale & why GST should not apply.
No ad hoc addition for bogus purchases should be made. Addition should be made to the extent of difference between gross profit rate on genuine purchases and GP rate on hawala purchases
Sureshkumar K Kataria Vs DCIT (ITAT Rajkot) ITAT notes that there was mismatch in the gross income reported by the assessee viz a viz the income reflecting in form 26AS for an amount of Rs. 4,13,081.00 only. As such, the assessee has shown less income by the impugned amount, therefore concurrent view was taken by […]
Kiran Roadlines Vs ACIT (ITAT Rajkot) The assessee is a registered firm in the business of transportation. It appears that for A.Y. 2004-05 & 2005-06 identical penalty debited to P&L account has been allowed by he Ld. CIT(A). In appeal preferred before the ITAT by the Revenue dated 06.03.2009, the Hon’ble Bench has been pleased […]
Shivdham Industries P. Ltd Vs DCIT (ITAT Guwahati) It has been stated before us by the ld. Counsel for the assessee that in the return of income filed in Form no. ITR-6 in Schedule CFL, the assessee has furnished ‘details of loss to be carried forward to future years’ totaling to Rs. 82,89,050/- which included […]
Red Chilli International Sales Vs ITO (Supreme Court of India) We with the petitioner that the impugned judgment rejecting the writ petition on the ground of alternative remedy does not take into consideration several judgments of this Court, on the jurisdiction of High Court, as writ petitions have been entertained to be examined whether the […]
ITAT held that transfer of PAN is consequential to Order of transfer of jurisdiction & that it is a PAN, which follows jurisdiction & not vice versa
Uncover the implications of supply of goods or services between related or distinct persons for Valuation of Stock Transfers under GST. Learn more with this blog post!
Vikas Bajoria Vs Union of India (Rajasthan High Court) In present case, the petitioner is in custody since 08.11.2022, investigation as against him is complete, the amount of alleged tax evasion has already been deposited with the revenue by the recipient(s). This Court is in respectful agreement with the law laid down in the cases […]
