The Income Tax Appellate Tribunal in its recent order deleted late Fee levied on ground of TDS default since it is committed prior to 1st June 2015.
Learned Counsel submitted that assessee is not required to deduct tax at source on estimation of expenses i.e. for the provision made for expenses, tax deduction is not required. For this proposition, learned Counsel placed reliance upon case law from Aditya Birla NUVO Ltd. v. Dy. CIT [IT Appeal No. 8427 (Mum.) of 2010, date 17-9-2014].
An institution registered as a Primary Agricultural Credit Society (PACS) was not entitled to obtain Banking License and, therefore, could not be considered as bank not entitled for deduction under section 80P(2).
Capital gain arising under a Joint Development Agreement which never materialized for want of necessary permissions was nothing but a hypothetical income and the same could not, therefore, be taxed under section 45 read with section 48.
The CESTAT, Delhi bench has held that the Chhatisgarh Housing Board cannot be made liable for service tax for the construction activities carried through contractors.
To file for refund of ITC accumulated on account of Inverted Tax Structure, perform the following steps on the GST Portal: 1. Access the GST Portal. The GST Home page is displayed.
Taxpayers can file for refund of IGST / CGST / SGST / UTGST / Cess if any amount is due to them from the tax administration. Filing for refunds is a post-login functionality, which means that the Taxpayer must login to the GST Portal with their valid login credentials before filing a refund application.
All Asst. Commissioners/GSTOs, who have been assigned powers under section 54 of the Delhi Goods and Services Tax (DGST) Act, 2004 (Delhi Act 3 of 2017) are hereby directed to process the refund cases of DGST Act in the following manner:-
Where in the assessment order, penalty proceedings have been initiated mentioning a specific charge and in the accompanying notice, the assessee is called upon to furnish his explanation in respect of both the charges, the notice obviously suffers from either non-application of mind or diffidence on the part of the AO.
Deduction under section 54F was in respect of capital gain arising in the hands of wife of assessee, should have been claimed in the return of income filed by the wife of assessee, therefore, claim of assessee under section 54F was liable to be rejected.
