ITAT Mumbai held that merely because assessee has dealt with suspected scrips, addition u/s 69C is not justified as purchase and sale of scrips were through recognized stock exchange and payments were through banking channel only.
Only for clerical mistake of GSTIN in invoice Government cannot usurp money of a taxpayer & make him run to pillar to post for refund of same.
Short, crisp and problem-solving addition of our GST Book titled ‘GST Ready Reckoner – 2023’ Authored by CA Raman Singla at 25% Discount
Nagarathinam Rajendran Vs ITO (ITAT Chennai) Since the assessee could not file his return of income under section 139(1) of the Act, the Assessing Officer issued notice under section 274 r.w.s. 271 F of the Act. There was no response from the assessee against the penalty notice. Since, the assessee failed to file his return […]
Dinesh Sitaram Patil Vs ITO (ITAT Pune) We note that, while culminating the reassessment proceeding in the case of the assessee, the Ld. AO vide concluding para placed at page 4 of his order communicated the assessee his action of initiating the penalty proceedings u/s 271(1)(c) of Act for ‘under reporting / mis-reporting’ of income […]
Jatinderpal Singh Vs ITO (ITAT Amritsar) Relying on the decision of ITAT Amritsar in the case of Kulwant Singh v. ITO in ITA No. 519/Asr/2014 dated 19.02.2015 appellant submitted that the credit of the income returned by the assessee should have been allowed from the peak credit balance sustained by the CIT(Appeal). It was submitted […]
State Government Undertaking may be considered as a State instrumentality within the definition of article 12 of Constitution of India, the same cannot be treated as Central or State Government
CESTAT held that since there is no suppression of fact, demand of extended period is not sustainable. Penalty imposed was unwarranted
Import of Apples under ITC (HS) 08081000 is ‘Prohibited’ wherever the CIF Import Price is less than equal to Rs. 50/- per kilogram. Minimum Import Price (MIP) conditions shall not be applicable for imports from Bhutan.
Article contains a crisp summary on amendments introduced by Budget 2023 pertaining to MSME payments and implications of amendments on commercial transactions.
