Under GST suppliers of goods and services must pass on any reduction in tho rate of tax or tho benefit of Input Tax Credit to consumers by way of commensurate reduction in prices. If this is not done. the consumers Interest is protected by the National Anti-profiteering Authority, which may order :
CIT Vs M/s. Baby Marine Exports (Kerala High Court) If the regular assessment was upheld finally and there was a reassessment and re-computation of total income, the assessee would have been liable to pay advance tax to that extent also, on which, an interest would be levied under Section 234B(3). It is been held that […]
Prabhjit Singh Sidhu Vs. Asst. DIT (International Taxation) (ITAT Chandigarh) The facts before us also demonstrate that the disclosure in the return of income filed under section 148 of the Act was voluntary and before detection of the same by the Revenue. The payment of taxes on the said income two months prior to issue […]
M/s Rastogi Furnishers & Decorators P. Ltd. Vs. CCE (CESTAT Delhi) Aaffixing the family name or brand name in the letter head does not amount to the use of brand name of third parties. In the instant case, there is no third party who owns the brand name of ‘Rastogi‘. The Department has neither issued […]
MAHARASHTRA GOODS AND SERVICES TAX ACT, 2017- Supersession of earlier Order New Order-power Delegation – to Assistant Commissioner related to E-way Bill implementation.
Order /2018-State Tax- Supersession of earlier Order New Order-power Delegation – to Deputy Commissioner related to E-way Bill implementation.
CBDT has omitted provision related to exemption of transport allowance of Rs. 1,600 per month granted to an employee other than an employee, who is blind or deaf and dumb or orthopaedically handicapped with disability of lower extremities, to meet his expenditure for the purpose of commuting between the place of his residence and the […]
Both the appeals are being disposed of by a common order as they arise out of the same set of facts and circumstances, vide which the demand of duty stands confirmed against M/s.Dadu Steel & Power Ltd. to the extent of Rs. 13,77,691/- along with imposition of penalty of identical amount. Further, penalty of Rs.5 lakhs stands imposed upon Shri Santosh Agarwal, Director of the manufacturing unit.
It was the contention of the AO in Income Tax proceedings that assessee had indeed handed over the possession of the property as on 01-04-2006, which led to assessing the capital gains arising on the transfer of that property in AY. 2007-08. Therefore, as on 31-03-2007, the property was no longer in the possession or ownership of assessee.
The applicant is interested in trading of Dried Tobacco Leaves which would be purchased from registered dealer who in return purchases such Tobacco Leaves from Agriculturist / Farmers. Such registered dealer after purchasing it from Agriculturist / Farmers will sell the same to Applicant as it is without any further change in its form.
