ACIT Vs Reliance Jio Infocomm Ltd. (ITAT Mumbai) Let us appreciate the nature of development, from the treaty perspective, in case one is to hold that the retrospective amendments defining the expression ‘process’ would be equally applicable for definition of ‘royalties’ under the tax treaty. Thus viewed, situation could be like this. There are judicial […]
Rajshree Sugars and Chemicals Limited Vs ACIT (ITAT Chennai) As we have already held that the receipt on the sale of carbon credits is liable to be treated as capital receipts, admittedly, the expenditure incurred by the assessee in respect of the sale of the carbon credits cannot be treated as Revenue expenditure at all. […]
T. R. Ravichandran, RP Vs The Asst. Commissioner (ST) (NCLT) As to provisions of GST Act, since Section 238 of the Insolvency and Bankruptcy Code having categorically mentioned that IBC will have over riding effect on all other laws which are in contravention to the provisions of the IBC, RI cannot raise an objection saying […]
Kind attention is invited to Circular No. 107/26/2019-GST dated 18.07.2019 wherein certain clarifications were given in relation to various doubts related to supply of Information Technology enabled Services (ITeS services) under GST.
Government, in consultation with Chief Justice of High Court of Himachal Pradesh, Shimla designates Civil Judge-cum-JMIC (3), Shimla and Civil Judge-cum-JMIC(2), Hamirpur as Special Courts under Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015
Philips Electronics India Ltd. Vs Commissioner of Central Tax (CESTAT Bangalore) The appellants, Philips Electronics India Ltd. are a 100% EOU (Software Technology Park Unit) are engaged in developing and export of software. No part of the output services are rendered to any client in India. The appellants have entered into various agreements with their […]
In re Life Health Foods India Pvt. Ltd (GST AAR Maharashtra) The Application in GST ARA Form No. 01 of M/s. Life Health Foods India Pvt Ltd., vide reference ARA No. 44 dated 18.09.2019, is disposed of, as being withdrawn voluntarily and unconditionally. FULL TEXT OF ORDER OF AUTHORITY OF ADVANCE RULING, MAHARASHTRA PROCEEDINGS (under […]
Meeting with Ministry of Finance- Return filing issues- Based on the invitation received from Ministry of Finance for making a presentation on the practical difficulties in filing GST returns
AS PASSED BY LOK SABHA ON 2.12.2019 Bill No. 362-C of 2019 THE TAXATION LAWS (AMENDMENT) BILL, 2019 A BILL further to amend the Income-tax Act, 1961 and to amend the Finance (No. 2) Act, 2019. BE it enacted by Parliament in the Seventieth Year of the Republic of India as follows:— CHAPTER I PRELIMINARY […]
Assessee, in the instant case, has not concealed the income deliberately (particularly in the light of the fact that advances have been shown in the balance sheet filed even along with the original return) and therefore, is not liable for imposition of penalty under Section 271(1)(c) of the IT Act.
