Assessee’s contention for levy of interest for the second month could arise only if the period of time between the date on which tax was deducted and the date on which tax was paid to the Government exceeds one month, was justified. Thus, AO was directed to re-compute the levy of interest under section 201(1A) accordingly.
ACIT Vs. Rajiv Nayar (ITAT Delhi) The brief facts of the case are that appellant is a senior Advocate of Hon’ble Delhi High Court. He filed his return of income on 30.07.2009 at Rs. 10,77,55,060/-. During the course of assessment proceedings it was found by the ld AO that the TDS certificates shows higher gross […]
Notification No. 44/2018-Customs (N.T.) In exercise of the powers conferred by clause (34) of section 2 of the Customs Act, 1962 (52 of 1962), the Central Board of Indirect Taxes and Customs, hereby makes the following further amendment in the notification of the Government of India in the Ministry of Finance (Department of Revenue) No. 40/2012-Customs (N.T.), dated the 2nd May, 2012
SEBI permits Segregated Nominee Account Structure in IFSC wherein orders of foreign investors may be routed through eligible Segregated Nominee Account Providers, for trading on stock exchanges in IFSC while adhering to regulatory requirements, inter alia, relating to identification of end-client, Unique Client Code, order placement at client level, client level margining and position limits.
The rate of rewards under MEIS for the ITC HS Code 2017: 07122000 is enhanced to 5% from earlier 3% with immediate effect vide Public Notice No. 11/2015-2020 -DGFT
Whirlpool of India Ltd. Vs. DCIT (ITAT Delhi) In the present case, there is admission on part of the assessee that the quantum of depreciation claim was incorrectly computed at enhanced cost. It is well settled principle that ignorance of law is not excused and cannot be a ground to avoid tax liability. The Assessee […]
Representation on issue of notice for intimating discrepancies in return – GST ASMT-10 Rule 99(1)- Mismatch of Input Tax Credit claimed in GSTR 3B and Input Tax Credit available in form GSTR 2A.
Section 29 read with Rule 20 to 22 deals with cancellation of registration. As per section 29(1) of CGST Act, registration can be cancelled either by the officer suo moto or on filing an application for cancellation. In this article, we are only discussing about the procedures when an application for cancellation is made by the registered person.
(1) Whether on the facts and in the circumstances of the case the Income Tax Appellate Tribunal was justified in deleting the addition of Rs. 23,04,369 by considering the same to be service tax? (2) Whether on the facts and in the circumstances of the case the Income Tax Appellate Tribunal was justified in deleting the addition of Rs. 53,600 made under section 40(a)(ia) of the Income Tax Act, 1961?
It is clarified that the term Duty used in respect of the items listed in Appendix 3A is to be read as Basic Customs duties only and not all Customs duties (including BCD=SAD/IGST)
