It is stated that one Mahabir Jain Shyamsukha was caught red handed while accepting illegal gratification of Rs. 3,83,000/ on behalf of accused Raju Sakthivel. It is also stated that investigation is still going on and one of the accused is absconding, and therefore, it is contended to dismiss the petition.
Representation has been received from CRAs requesting for extension of the date of applicability of the standardized industry classification. In view of representation received from CRAs, it has been decided to extend the date of applicability of the standardized industry classification till December 15, 2022.
The gross GST revenue collected in the month of November 2022 is ₹1,45,867 crore of which CGST is ₹25,681 crore, SGST is ₹32,651 crore, IGST is ₹77,103 crore (including ₹38,635 crore collected on import of goods) and Cess is ₹10,433 crore (including ₹817 crore collected on import of goods)
Mahesh Urban Co-Operative Bank Ltd Vs ACIT (ITAT Pune) ITAT held that a co-operative bank/ assessee has no liability to deduct TDS on interest payments made to members. We thus delete the impugned section 194A r.w.s. 40 (a)(ia) disallowance of Rs. 2,00,095/- in very terms therefore. FULL TEXT OF THE ORDER OF ITAT PUNE 1. […]
DCIT Vs Reliance Industrial Holdings Pvt Ltd (ITAT Mumbai) In the cases of the reopened assessments first and foremost one has to see the reasons recorded for reopening the assessment, as these are the reasons which give jurisdiction to the Assessing Officer for initiating, and proceedings with, the reassessment. The reasons so recorded must meet […]
Sikandar And Company Vs ITO (ITAT Pune) AO has to power to reopen, provided there is tangible material to come to the conclusion that there is escapement of income from other assessment. Further, there must be reasons recorded showing live link with the formation of the belief that there is escapement of income from assessment. […]
Ruikar Trust Vs ACIT (CPC) (ITAT Pune) Brief facts relating to the case are that the assessee is a charitable trust. The assessee claimed exemption u/s. 11 of the Act in the return of income. The CPC, Bangalore denied the said exemption for non-filing of Form 10 within time. Having aggrieved, the assessee challenged the […]
It is to be presumed that the assessee made investments from its own funds but not from borrowed funds. If that is the case the disallowance under interest is not warranted. Therefore, disallowance under Rule 8D(ii) to an extent of Rs. 1,78,490/- is not maintainable.
Shyama Sharma Charitable Trust Vs CIT, Exemptions (ITAT Chandigarh) The provisions of section 12AA provides that the CIT(E) after receipt of application and calling for such documents and information as he thinks necessary and after making such enquiries as he may deem necessary and after satisfying himself about the objects of the assessee society and […]
Piyush Overseas Pvt. Limited Vs DCIT (ITAT Chandigarh) ITAT find merit in the contention of the ld AR that where the assessment has been conducted through a virtual electronic platform, it may not be feasible to submit and upload the voluminous books of account, sale / purchase register, cash book, and other ledger account along with […]
