Section 129, can be invoked by the department with regard to the goods in transit and the goods can be released only in the event the owner of the goods comes forward for payment of penalty as specified in clause (a) or (b) or (c) of Section 129 (1) of the Act and on payment of the said amount, the intent is to give quietus to the litigation.
Excise and Taxation Department, Government of Haryana had identified a list of 373 active registered taxpayers of State jurisdiction who had not filed FORM GSTR-3B up till March 2021. These taxpayers were liable to be cancelled under the provisions of Section 29 of the HGST Act, 2017.
V.C. Infra Vs Commissioner of State Tax (Bombay High court) Heard. 02] On 18/02/2022 the Deputy Commissioner of State Tax passed an adjudication order directing the petitioner to satisfy the demand of Rs.8,43,502/-. The petitioner being aggrieved by the aforesaid, preferred an appeal before the appellate authority On 02/08/2022, the said appeal came to be […]
Ragavs Diagnostic & Research Centre Pvt. Ltd. Vs ACIT (ITAT Bangalore) From the plain reading of section 69C, it is clear that when an assessee offers no explanation or the explanation offered is not satisfactory in the opinion of the AO, then the amount of such expenditure is to be taxed as income u/s. 69C […]
AO made additions on ground that cash deposited in bank account was more than total turnover declared by assessee, since assessee furnished bank statements which showed that there were deposits and withdrawals of almost equal amounts and AO failed to give any findings regarding said withdrawals, assessee deserved to get benefit of telescoping and thus, addition was unjustified
Petitioner, wishing to rectify the error, had attempted to submit an application for amendment of the registration certificate. However, while filling the application Online, the Accountant had selected ‘cancellation’ from the drop down menu instead of ‘modification’. It is thus that the impugned order has come to be passed cancelling the registration with effect from 01.05.2020.
Raja Ram Dalmia Vs PCIT (Calcutta High Court) High Court held that department has to first initiate proceedings against the defaulting private limited company and upon failure in their attempt to recover the tax dues power under section 179 of the Act could have been invoked. On facts it is clear that no such attempt […]
If assessee was under bona fide belief that as per Guidance Note issued by ICAI on ‘tax audit under section 44AB’ net result in derivative transaction was to be considered as turnover and accordingly, he would not be liable to get his books audited as turnover did not exceed more than Rs. 1 crore, penalty levied under section 271B was to be deleted
IBUs are directed to follow the IFSCA KYC guidelines with immediate effect. IBUs are also advised that guidelines/circulars of the domestic financial sector regulators on the issues covered by the IFSCA KYC guidelines shall cease to apply with immediate effect.
Section 23(3) of IBC Code clearly provides for handing over of documents by IRP to RP. DC notes that acts of Mr. Prateek Kathuria for non-submission of documents to newly appointed IRP has caused delay in process which could have been avoided. Hence, the DC finds that Mr. Prateek Kathuria has violated section 23(3), 17(2)(e), […]
