(1) This scheme may be called the Punjab One Time Settlement of Outstanding Dues, 2021. (2) It extends to the whole of the State of Punjab. (3) It shall come into force on and with effect from the 15th January, 2021. (4) For assessments completed till 31st December, 2020, under the relevant Act, no application for settlement of dues under the said Scheme shall be entertained after 30th April, 2021.
Cash credit account cannot be attached provisionally by virtue of power under Section 83 of the Act. We are of the view that the provisional attachment of the cash credit account bearing No.510044021166 maintained with the Kotak Bank is not sustainable in law.
Lalita Agarwal Vs ACIT (ITAT Delhi) We have carefully considered the facts stated above in these appeals wherein the notice under section 148 is issued in the name of a deceased assessee stating his PAN number. Further the assessment orders are also framed in the name of the deceased assessee stating his PAN number. The […]
Supreme Concrete & Infrastructure Pvt Ltd. Vs ACIT (ITAT Cuttack) It is admitted position that the loan from Sinclair Builders Pvt Ltd., has been obtained by account payee cheque. Confirmation, copy of account as well as the bank statement of the creditor has also been furnished. The assessee has also deducted TDS on the interest […]
In re S.K.M.L. Industries (GST AAR Andhra Pradesh) What is rate of tax applicable for iron tubular trevis and Classification of the product and HSN code of this item? The taxability of the goods and services supplied or to be supplied, as governed under the provisions of respective GST Acts are examined to decide the […]
Dimension Data India Private Ltd. Vs Commissioner of Customs And Anr. (Bombay High Court) The expression “mistake” appearing in section 154 of the Customs Act may be defined as something done unintendedly or through inadvertence. The section itself says that the error in any decision or order should be due to any accidental slip or […]
Whether, the Tribunal was justified in law in holding that the expenditure incurred in connection with the issue of IPO inter alia stamp duty is an allowable expenditure under section 35D of the I.T. Act
ACIT Vs Rishab Steel House (ITAT Mumbai) Since, Ld.CIT(A) followed the order of the Tribunal in assessee’s own case for the earlier as well as subsequent assessment years on identical issue and decided partly in favour of the assessee by directing the Assessing Officer to estimate the profit element in alleged non-genuine purchases at 5%, […]
So far, concealment of income amounting to more than Rs. 450 crore has been detected. The assessee has made an admission of undisclosed income amounting to Rs. 105 crore. The search action has resulted in seizure of unaccounted cash of Rs.1.58 crore.
Tejas Pravin Dugad Vs Union of India (Bombay High Court) The Petitioners are directors of M/s. Ganraj Ispat Private Limited company and the company is registered under the provisions of the Central Goods and Services Tax Act, 2017 (GST Laws) (the Act). It has registered office at Supa, District Nagar, Maharashtra. One Tushar Munot, sole […]
