Raja Ram Dalmia Vs CIT (Calcutta High Court) HC held that Without going into these disputed facts that whether claim was lodged before the Official Liquidator, admitted position today which exists on the basis of report of the Official Liquidator is that even if the respondent Income Tax Authority wants to recover the demand from […]
M.R. Enterprises Vs ITO (ITAT Delhi) Admittedly, in the present case the assessment was reopened on the basis of cash deposited in the bank account and no addition has been made by the Assessing Officer regarding deposit of this amount. It is seen that the assessee has not raised this issue before the learned CIT(Appeals). […]
The gross GST revenue collected in the month of April, 2022 is Rs 1,67,540 crore of which CGST is Rs 33,159 crore, SGST is Rs 41,793 crore, IGST is Rs 81,939 crore (including Rs 36,705 crore collected on import of goods) and cess is Rs 10,649 crore (including Rs 857 crore collected on import of goods).
Ratilal & Sons Vs ITO (ITAT Mumbai) For invoking provisions of section 40A(3) of the Act, following conditions need to be cumulatively satisfied:- (i) there should be an expenditure; (ii) expenditure should be in mode other than prescribed by the section; and (iii) amount of expenditure should be more than Rs. 20,000. As stated in […]
Medicos Legal Action Group Vs Union of India (Bombay High Court) We see no reason to hold that merely because of enactment of Consumer Protection Act, 2019 upon repeal of the 1986 Act as well as the parliamentary debates referred to by the petitioning Trust, the efficacy of the law laid down in the decision […]
Smt. Sarabjit Kaur Vs ITO (ITAT Chandigarh) In both the years under consideration, the assessee has declared income from tuition fee in her return of income and in both the years there were cash deposits in the bank account being maintained by the assessee. The Assessing officer added the cash deposits to the income of […]
Sanjay S. Dutt Vs ACIT (ITAT Mumbai) The solitary issue urged in the present appeal by the ld. Representative for the assessee is with regard to assessee’s claim of exemption under section 54F of the Act. Undisputedly, the assessee was joint owner of property having 27% share. The 73% share in property was that of […]
Samet Estates Pvt. Ltd. Vs CIT (Bombay High Court) It is Petitioner’s case that the same issue which is mentioned in the reasons for reopening was a subject matter of consideration during the assessment proceedings and the assessment order dated 20th December, 2010 in fact even discussed this item. Therefore, reopening is based on change […]
FM is Requested to kindly extend the due date for filing of GSTR-4 to 31st December, to bring in align with Annual Return by regular taxable persons or at least till 31st July to bring it in align with due date for filing income tax return by small taxpayers.
IRDAI permits all Insurers to have exposure to Financial and Insurance activities (as per section K of NIC classification) up to 30% of Investment assets.
