We make it clear that the person selected as Member of the ITAT will continue till the age of 62 years and the person holding the post of President, shall continue till the age of 65 years.
Dulraj U. Jain Vs ACIT (Bombay High Court) Section 147 / Section 148– Reasons recorded do not specify, prima-facie, the quantum of tax which has escaped assessment but merely states that it would be atleast be Rs.1,00,000/-. Prima-facie, we are of the view that the reasons recorded do not indicate reasonable belief of the Assessing Officer himself to issue the impugned […]
Deepak Sales & Properties Pvt. Ltd Vs ACIT (ITAT Mumbai) There is no dispute between the parties that bonafide nature of transactions alone would not be sufficient to escape the clutches of sec. 271D of the Act. As per the decision rendered by Hon’ble Supreme Court in the case of Kum. A.B. Shanthi (supra), it […]
Preet Financial Services Pvt. Ltd. Vs C.S.T.-Service Tax (CESTAT Delhi) Business model of the appellant was such that they used to get commission from financial institutes for introducing customers. The said financial institutes used to pay commission in a fixed percentage on the loan amount disbursed to the end customer. After this commission, the appellant […]
As the assessee had discharged his onus by substantiating the manner in which undisclosed income was derived, being the savings of his wife, and had paid the due tax thereon, no penalty proceedings could be initiated against assessee.
Central Government has considered it necessary to raise the pecuniary limit from ten lakh rupees to twenty lakh rupees for filing application for recovery of debts in the Debts Recovery Tribunals by such banks and financial institutions.
Truptiben Bakulbhai Pate Vs ITO (Gujarat High Court) As assessee had neither filed her return of income declaring loss nor had shown such loss in her books of account, this clearly indicated that assessee deliberately withhold the bank account and transactions recorded therein. Further, as she had not furnished any explanation about non-disclosure of bank […]
G.S.R…. (E). – Whereas, the designated authority vide notification number 7/13/2018-DGAD, dated the 4th April, 2018 published in the Gazette of India, Extraordinary, Part I, Section 1, dated the 4th April, 2018, had initiated the Mid-term Review in term of section 9A of the Customs Tariff Act, 1975 (51 of 1975), (hereinafter referred to as the Customs Tariff Act), read with rule 23 of the Customs Tariff (Identification, Assessment and Collection of Anti-dumping Duty on Dumped Articles and for Determination of Injury) Rules
Seeks to levy anti-dumping duty on Glass CSM originating in or imported from Thailand vide Notification No. 43/2018-Customs (ADD) Dated: 6th September, 2018 in view of circumvention of Anti dumping duty imposed by vide Notification 48/2016 Customs(Add) dated 1 September 2016. GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF REVENUE Notification No. 43/2018-Customs (ADD) New […]
Office Order No. 147 of 2018 The following transfer/postings of the officers in the grade of Joint Commissioner/Additional Commissioner of Income Tax, are hereby ordered with immediate effect and until further orders:
