"08 July 2023" Archive

Geocoding Functionality for Principal Place of Business Now Available on Common Portal

Access the geocoding functionality on the Common Portal to ensure accuracy and streamline the address verification process for your principal place of business in GSTN records. Discover how this feature converts addresses into geographic coordinates and enhances compliance requirements....

Addition based on rough notes with corroborative evidence sustained

Rakesh Natwarlal Thakkar Vs DCIT (ITAT Mumbai)

ITAT Mumbai held that addition towards unaccounted cash receipts on the basis of seized documents i.e. rough notes duly supported with corroborative evidence sustained....

Principal amount taken for trading purpose when waived off results in income

Share Microfin Ltd Vs DCIT (ITAT Hyderabad)

ITAT Hyderabad held that waiver of the principal amount, which was taken for trading purpose, which is credited to the profit & loss account results in income in the hands of assessee and accordingly taxable....

Denial of pre-operative expenses intricate to nature of business activity is unsustainable

Honda Access India Pvt Ltd Vs DCIT (ITAT Delhi)

ITAT Delhi held that denial of pre-operative expenses like brokerage and commission expenses, business promotion expenses, vehicle running expenses, etc. intricate to the nature of business activity is unsustainable....

Omission of claiming long term capital loss in original return not bona fide so claim via revised return allowable

DCIT Vs Bilcare Limited (ITAT Pune)

ITAT Pune held that omission of claiming long term capital loss at the time of filing of original return was not bona fide. Accordingly, rejection of claim of the same in revised return unsustainable in the eyes of law....

Remuneration as per Office Memorandum dated 30.11.2018 payable to Company Secretary attached with office of Official Liquidator

O.L. Of Various Companies Vs NA (Gujarat High Court)

Gujarat High Court held that the Company Secretary attached with the office of the Official Liquidator shall be henceforth entitled to be paid remuneration in terms of the Office Memorandum dated 30.11.2018....

Suspension of Customs Broker Licence without affording adequate opportunity of being heard is unjustified

Richmark Shipping & Logistics Pvt. Ltd Vs Commissioner of Customs (High Court Andhra Pradesh)

Andhra Pradesh High Court held that order for continuing the suspension of Customs Broker Licence without affording adequate opportunity of being heard is against the principles of natural justice. Writ disposed off with direction to submit written explanation within specified time....

Guide to e-Form DPT-3, Due Date and Consequences

Understand the requirements of filing e-Form DPT-3, the due date for annual return filing, and the penal consequences of non-compliance. Get insights into the purpose of the form, its applicability, and the latest amendments....

Relevance of Statement Recorded Under Section 70 of CGST Act in Adjudication Proceedings

Understand the relevance of statements recorded under Section 70 of the CGST Act in adjudication proceedings. Explore the provisions of the Act and the distinction between prosecution proceedings and adjudication proceedings....

Demand of service tax unsustainable as Konkan & Indian Railways are not separate entities

Konkan Railway Corporation Ltd. Vs Commissioner of Service Tax (CESTAT Mumbai)

CESTAT Mumbai held that appellant i.e. Konkan Railway Corporation Ltd. and Indian Railways are not separate entities and hence demand of service tax is unsustainable....

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February 2024