In the present case there was no illegality committed by the Department in not issuing to the Assessee a notice under Section 226 (3) (iii) of the Act simultaneously with or prior to the notice issued to its bank under Section 226 (3) (i) of the Act for recovery of the tax demand from its account.
An addition cannot be made on the basis of a handwritten loose paper which does not indicate if it pertains to the assessee and if AO has not brought on record any forensic evidence to prove the handwriting of the assessee. An addition cannot be made on the basis of suspicion and guesswork and without bringing corroborative material on record
The quantity of raw sugar i.e. 8424 MTs (Eight thousand four hundred and twenty four metric tons) to be exported to USA under TRQ up to 30.09.2018 has been notified.
In exercise of the powers conferred under Paragraph 1.03 of the Foreign Trade Policy, 2015-2020, the Director General of Foreign Trade hereby notifies the amendment in item No. 1 of the SION E 8, in the Handbook of Procedure Vol.11 as under:
In any indirect tax classification of goods is very important and has very wide implications particularly in case of multi rate tax structure like GST As we are aware that classification of goods under CGST Act, IGST Act and respective SGST Acts have to be done in accordance with Harmonized System of Nomenclature (HSN).
Relevant part of MAT-Ind AS Committee Report dated 17th June, 2017 containing recommendations regarding amendment to the provisions of the section 115JB of the Income-tax Act, 1961 in respect of Ind AS Compliant Companies.
The Court is not prepared to accept the plea of the Revenue that merely because a panchnama was drawn up on 15thMay, 2007 showing that the search was ‘finally concluded’ on that date, it postponed the period of limitation in terms of Section 153B (2) (a) of the Act.
In view of the undisputed fact that a sum of Rs. 18,63,61,346/- was offered to tax though it was originally debited to the profit and loss account during the AY 2011-12,and because of the cost reimbursement agreement between the assessee and the parent entity on 18.05.2012 pursuant to which a sum of Rs. 13,21,53,000/- and Rs. 5,44,13,490/- was credited to the profit and loss account
Consequent upon the reorganization of the field formations on introduction of GST w.e.f 1.07.2017, the GST Commissionerates are to be allocated new DDO codes by the Chief Controller of Accounts (CBEC).
When registration under GST is required to be taken by Jewelers? A. i) Once the aggregate turnover crosses Rs.20 lakh a person becomes liable for registration. Time limit – Within 30 days from the day limit for aggregate turnover is crossed.
