HC held that there cannot be an automatic enhancement of taxable turnover on the basis of eye estimation by the Assessing Officer
Ashok Madhav Rao Vs ADIT (ITAT Mumbai) In this case only reason why the foreign tax credit was denied to the assessee is that the assessee submitted the certificate of his employer and without submitting any detail of the payment of taxes in Netherlands. Now, we find that claim of the assessee is now supported […]
CESTAT held that giving options for availing a particular option is procedural requirement and on failure of same, assessee cannot be deprived of choosing any of option available in Rule 6(3)
Assessing Officer can add other items of income along with the income for the escapement of which the assessment was reopened. However, without assessing that escaped income the Assessing Officer cannot make assessment of other items of income.
Assessee not eligible of amount of TDS deducted on amount of advance received by assessee as corresponding income was not offered to tax.
If refund arises because of self-assessment tax, which falls in realm of expression `any other case’, the same gets covered within purview section 244A(1)(b), thereby entitling assessee to interest thereon.
Insurance policy was not taken by company under key man insurance & Merely, amount was paid by it so premium not allowed as business deduction
Numerous appeals IBC get rejected by NCLAT on the grounds of them being time-barred. NCLAT articulates that it lacks the power to allow appeals filed after 45 days from the ‘date of the order’ of the Adjudicating Authority.
Kindly introduce one time amnesty scheme for either waiver or reduction of late fee and penalty for procedural lapses like delay in filing returns like GSTR 1, 3B, 4, 9, 9C, 10, ITC-04, etc for the period from 2017-18 onwards.
