Since CIT rejected assessee’s application for stay of recovery of demand merely relying of CBDT instruction which was cryptic and non-speaking as CBDT circular/instruction could not serve as a series of guidelines in the matter of grant of stay, therefore, the matter was remanded back to CIT for disposal afresh in accordance with law.
Sodexo SVC India Pvt Ltd. Vs DCIT (ITAT Mumbai) Conclusion: Order passed by AO under section 201(1)/201(1A) for failure to deduct TDS under section 194C on the reimbursement of the meal vouchers to the affiliates was barred by limitation as the amended limitation period of seven years under section 201(3) was effective from 1-10-2014 and […]
Mr. Trilok Chand Chaudhary Vs ACIT (ITAT Delhi) Conclusion: AO made assessment under section 153A in case of assessee by using the material found in the course of search at the premise of third party which was not permitted in view of the express provision of the law as proceedings should be initiated u/s 153C […]
Section 194N inserted in the Act, is to come into effect from 1st September, 2019. Hence, any cash withdrawal prior to 1st September, 2019 will not be subjected to the TDS under section 194N of the Act. However, since the threshold of Rs. 1 crore is with respect to the previous year, calculation of amount of cash withdrawal for triggering deduction under section 194N of the Act shall be counted from 1st April, 2019.
In order to redress grievances and address various tax related issues in the cases of Start-ups, a Start-up Cell has been constituted by CBDT on 30.08.2019 with the following ex-officio members:
Exporters are requested to advise their respective Shipping Lines to file the EGM correctly before the departure of the vehicle. In the event of EGM errors, the Shipping Bill generated in the IGST Temporary Scroll will not be migrated to final Scroll. Unless, the Shipping Bill figures in the final Scroll of IGST, the exporters will not be able to get IGST Refund credited to their Bank Account.
When the books of accounts was rejected, the income of assessee was to be estimated on some reasonable basis for which comparable case and history of assessee could be taken as a guide. Thus, the N.P rate @ 8% applied by the authorities below was without any basis and material on records, the same was rejected and was considered fair to apply an average rate of earlier two years which was 3.50%.
High Court in the absence of any discussion or/and the reasoning/ground as to why the order of ITAT did not suffer from any illegality and why the grounds of Revenue were not acceptable and why the appeal did not involve any substantial question(s) of law or though framed could not be answered in Revenue’s favour, the impugned order dismissing the Revenue’s appeal suffered from jurisdictional errors and, therefore, legally unsustainable for want of compliance of the requirements of sub-sections (4) and (5) of Section 260A.
Smt. Asha Gandhi Vs The ITO (ITAT Chandigarh) Conclusion: Tribunal urged State to remove violations of tax laws by new assessees such as part time enterprising housewives, illiterate, semi-skilled men/women or teenagers by highlighting the concepts of agents of economic change; creation of Tax Advisory Cell; and coming out with Policy/Tax Compliance Scheme for the […]
One month time left out to reconcile books of account of F.Y. 2018-19 to ensure that maximum Input Tax Credit (ITC) is claimed. As per the provision u/s 16(4) of CGST Act, 2017, a taxpayer can take input tax credit in respect of any invoice or debit note for supply of goods or services or […]
