The issue under consideration is whether amount of service tax being statutory levy, received by assessee from its customers was to be included in calculating the aggregate amount referred to in sub-section (2) of Section 44BB of the Act?
The Supreme Court dismissed the petition filed by the assessee challenging decision of Central Government to excluding Chief Minister’s Relief Fund from the purview of Corporate Social Responsibility (CSR).
The issue under consideration is whether the UPS is considered as essentially part of computer system and depreciation at rate of 60% charged on it?
Addl. CIT Vs Nortel Networks India Pvt. Ltd (ITAT Delhi) The issue under consideration is whether the Unabsorbed depreciation can be carried forward even if Income Tax Return has not been filed within period of Due date? ITAT states that, the assessee filed return beyond the due date prescribed u/s 139(1) of the Act. In […]
Yogini Mohit Sahita Vs ITO (ITAT Mumbai) The issue under consideration is whether amount received on surrender of such tenancy/sub-tenancy rights would be taxable as capital gains? In the instant case, Smt. Saraswati Vithaldas Sahita occupied the said flat at 2nd floor of the building known as Gangasagar on license basis. This is crystal clear […]
The issue under consideration is whether the re-opening of assessment u/s 147 on the basis of wrong appreciation of facts can be sustained in law?
The issue under consideration is whether the Penalty u/s 271F will be levied for non filing of Income Tax Return even in case of reasonable cause?
If the return could not have been filed within the above due dates even then the same can be filed validly as a belated return within the time limit prescribed U/s. 139(4) of the Act. Under section 139(4) a belated return can be filed before the expiry of one year from the end of relevant assessment year or before the completion of assessment whichever is earlier.
Recent Enhancement made and Defects Fixed on GST Portal 1. For Tax Payer Registration: Submission of non-core amendment application, without a zip code, in case the authorized signatory who is not an Indian, will not be allowed on GST Portal. The message – “Please file all the pending returns till before submission of application for […]
CBDT Circulars CBDT Circulars to Reduce Litigation S.No. Section of Income Tax Act Circular No. & Date Summary of Circular 1 2(22)(e) Circular No.19/2017 [F.No.279/ Misc./140/2015/ITJ], Dated 12-6-2017 Trade advances, which are in the nature of commercial transactions, would not fall within the ambit of the word ‘advance’ in Section 2(22)(e) of the Act 2 […]
