"17 July 2023" Archive

ITAT Deletes Penalty under Section 272A(1)(d) for Technological Illiteracy and Third-Party Negligence

Maqsood Ali Vs ITO (ITAT Delhi)

Understand the landmark case of Maqsood Ali Vs ITO, where the Income Tax Appellate Tribunal (ITAT) in Delhi ruled against imposing a penalty under section 272A(1)(d) for non-compliance of statutory notices given reasonable cause....

ITAT Dismisses Appeal as Defective due to Continuous Absence of assessee

Geetu Kamra Vs ITO (ITAT Delhi)

Get an in-depth analysis of the ITAT Delhi case, where the appeal filed by Geetu Kamra was dismissed due to her continuous absence and non-compliance with court directives....

No Penalty When Service Tax Paid with Interest Pre-Issuance of SCN

National Power Engineering Company Vs Commissioner of CGST & Central Excise (CESTAT Kolkata)

Understand the pivotal judgment of CESTAT in the case between National Power Engineering Company and the Commissioner of CGST & Central Excise, where no penalty was imposed after entire service tax and interest were paid before the issuance of the Show Cause Notice....

Supreme Court to Decide Google vs. CCI Appeal on October 10, 2023

The Supreme Court of India has scheduled the final disposal of the appeal filed by Google on October 10, 2023. This appeal challenges the penalty imposed by the Competition Commission of India (CCI) on Google for abusing its dominant position in the Android OS app store market. The National Company Law Appellate Tribunal (NCLAT) had uphel...

Posted Under: Income Tax |

Debt Mutual Funds: Taxation, Returns and Benefits

Learn about debt mutual funds, their taxation, and how investors earn returns through dividends and capital gains. Explore the factors that determine tax on debt mutual funds and discover why they can still be a great investment option compared to fixed deposits....

Posted Under: Income Tax |

Late fee under Section 234E of Income Tax Act not retrospective

Balram Corporate Services Pvt Ltd Vs ITO (ITAT Bangalore)

Delve into the recent ITAT Bangalore case of Balram Corporate Services Pvt Ltd Vs ITO, discussing the non-retrospective nature of late fee charges under Section 234E of the Income Tax Act....

Clarification on Taxability of Services between Distinct Offices under GST

Circular No. 199/11/2023-GST 17/07/2023

Read Circular No. 199/11/2023-GST from CBIC providing clarification on the taxability of services provided by an office of an organization in one state to the office of the same organization in another state, both being distinct persons. Understand the tax implications and requirements for such transactions....

Clarification on Applicability of E-Invoice for Supplies to Government Departments

Circular No. 198/10/2023-GST 17/07/2023

Circular No. 198/10/2023-GST issued by the Central Board of Indirect Taxes & Customs (CBIC) addresses the issue regarding the applicability of e-invoice under rule 48(4) of the Central Goods and Services Tax (CGST) Rules, 2017 for supplies made to Government Departments, establishments, agencies, local authorities, and PSUs registered...

Clarification on GST Refund Issues: CBIC Circular 197/09/2023-GST

Circular No. 197/09/2023-GST 17/07/2023

Read Circular No. 197/09/2023-GST from CBIC providing clarification on various issues related to GST refunds. Understand the clarifications on refund of accumulated input tax credit, requirements of undertaking in FORM RFD 01, calculation of adjusted total turnover, and admissibility of refunds for exporters complying with sub-rule (1) of...

Taxability of Shares in Subsidiary Company: CBIC Circular 196/08/2023-GST

Circular No. 196/08/2023-GST 17/07/2023

Taxability of Shares in Subsidiary Company: CBIC Circular 196/08/2023-GST" SEO Meta Description: "Read Circular No. 196/08/2023-GST from CBIC clarifying the taxability of shares held by a holding company in a subsidiary company under GST. Understand whether holding shares constitutes a supply of service and attracts GST or if it is exemp...

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