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Last date to file GSTR 4 for FY 2019-20 extended to 31.10.2020

August 31, 2020 17865 Views 1 comment Print

CBIC has announced on its Twitter Handle on 31st August 2020 that Last date to file GSTR 4 for FY 2019-20 extended to 31st October 2020. Ministry Of Finance (Department of Revenue) (Central Board of Indirect Taxes and Customs) New Delhi Notification No. 64/2020–Central Tax Dated: 31st August, 2020 G.S.R. 539(E).—In exercise of the powers […]

Disallowing of Interest without Considering T&C of Agreement is unjustified

August 31, 2020 558 Views 0 comment Print

The issue under consideration is whether Tribunal is correct in the disallowing the claim of interest from the deposits without considering the terms and conditions of the agreement between the parties?

Section 10AA Deduction on Enhanced Income Earned through APA

August 31, 2020 8541 Views 0 comment Print

whether the 1st proviso of section 92C(4) is triggered when the income computation for deduction u/s 10AA is enhanced only in the computation of income and no such entries are made in the books of account?

HC allows Kyrgyzstan National accused of Gold Smuggling to Back to Kyrgyzstan for 45 days

August 31, 2020 510 Views 0 comment Print

The present petition is filed by one Kyrgyzstan National who is seeking permission to go back to Kyrgyzstan which is earlier denied by the Customs Authority bacause 3150 gms of gold was recovered from the possession of the petitioner.

Custom Notification Increasing Duty on Peas applicable on Retrospective Basis

August 31, 2020 717 Views 0 comment Print

The issue under consideration is whether the custom notification for increasing the duty on peas will be levied on retrospective basis or prospective basis?

Section 269SU: Banks to Refund charges received on or after 01.01.2020

August 30, 2020 4335 Views 0 comment Print

Banks are, , advised to immediately refund the charges collected, if any, on or after 1st  January 2020 on transactions carried out using the electronic modes prescribed under section 269SU and not to impose charges on any future transactions carried through the said prescribed modes.

Cabinet Clears Introduction of Punjab GST (Amendment) Bill, 2020

August 30, 2020 564 Views 0 comment Print

CABINET CLEARS PROPOSAL FOR INTRODUCTION OF PUNJAB GOODS AND SERVICES TAX (AMENDMENT) BILL, 2020 FULFILLS DEMAND OF TAX PAYERS TO SIMPLIFY PROVISIONS AND PROCESSES FOR SMOOTH LEVY AND COLLECTION OF TAXES UNDER GST Chandigarh, August 25: The Punjab Cabinet on Tuesday approved the proposal for introduction of the Punjab Goods and Services Tax (Amendment) Bill, […]

Depreciation not Disallowable merely for Purchase of car in Personal Name

August 30, 2020 10236 Views 0 comment Print

Whether the depreciation on car purchased by assessee can be disallowed only because the payment towards purchase of the same is made through his personal account?

Section 153A Assessment Invalid if no Incriminating Material Found during Search

August 30, 2020 3471 Views 0 comment Print

The issue under consideration is whether the assessment u/s 153A can be considered as valid even if no incriminating material found during the course of search?

Form 35 Submission with Scanned Signature for filing CIT appeal is Sustainable in Law

August 30, 2020 3174 Views 0 comment Print

The issue under consideration is whether the submission of Form 35 alongwith scanned copy of signature at the time of filing CIT appeal is sustainable in law?

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