ITAT Mumbai held that appeal of the revenue is hit by the monetary limits as per CBDT circular. Further, filing of appeal based on information from investigation wing (i.e. not external source) is not covered by except mentioned in clause (e) of paragraph 10 of CBDT circular.
CESTAT Ahmedabad held that activity of leasing workwear (uniform) to their clients on the conditions mentioned in the agreements with their clients is not taxable under supply of tangible goods.
ITAT Ahmedabad held that profit earned for carbon credits is capital in nature and hence addition treating the same as revenue in nature is unsustainable in law.
ITAT Hyderabad held that benefit of deduction under section 54F not eligible as the assessee owns more than one residential property on the date of transfer of the capital asset other than the new asset acquired.
Taxpayers can learn more about Amendment in Section 44AD & 44ADA in this post. Get info on gross turnover, minimum taxable sum, digital transactions & more
A trust is a legal entity created under Indian law to hold and manage property for the benefit of one or more individuals. The trust can be formed for any purpose, including financial security for the beneficiaries.
Section 43B of Income Tax Act provides that deduction for certain sums specified in its clauses (a) to (g) is allowable only on actual payment. However, the Proviso to this section allows deduction on accrual basis if the specified sum is paid by due date of furnishing of the return of income.
Section 50 of GST act 2017 provide for charging of interest on delayed payment of tax. Article discusses provisions of levy of interest.
Filing of Form 10CCB to claim deduction u/s 80-IC is directory in nature and not mandatory. It’s sufficient if same is filed before passing assessment order
We are sharing common issues/concerns/ technical glitches on MCA- 21 V3 Portal for your kind perusal and early resolution
