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Extend Tax Audit/ITR due dates for AY 2020-21

December 21, 2020 106671 Views 35 comments Print

Tax Bar Association, Guwahati has made a Request for Extension of Due Dates for furnishing of Tax Audit Report & Income Tax Return for Assessment Year 2020-21 to Smt. Nirmala Sitharaman, Hon. Finance Minister of India.  Request is been made to extend the due dates of furnishing of Tax Audit Report U/s 44AB to 28th […]

MCA notifies 17 Provisions of Companies (Amendment) Act, 2020 wef 21.12.2020

December 21, 2020 6423 Views 0 comment Print

Central Government hereby appoints the  a 21st day of December, 2020 as the date on which the 17 more  provisions of Companies (Amendment) Act, 2020 shall come into force. Government of India Ministry of Corporate Affairs Notification New Delhi, the 21 December, 2020 S.O. 4646(E).– In exercise of the powers conferred by sub-section (2) of […]

Vivad Se Vishwas Scheme 2020- Salient Features

December 21, 2020 8676 Views 0 comment Print

BACKGROUND Direct Tax Vivad se Vlshwas Act, 2020 offers a win-win dispute resolution package that benefits the taxpayers as well as the Government. Taxpayers All also be better-off due to savings on account of time and resources, certainty with respect to their tax liability and immunity from penalty and prosecution. Government will benefit from timely […]

Disclosure of information relating to electoral bonds issued to various political parties is exempt from RTI

December 21, 2020 891 Views 0 comment Print

Vihar Durve Vs CPIO (Central Information Commission) The Commission after adverting to the facts and circumstances of the case, hearing both parties and perusal of records, observes that the respondent has revisited the RTI application and reiterated its earlier stand in respect of point no. 6 and 7 of the RTI application that the disclosure […]

General procedure for GST Audit | Section 65 | MGST Act 2017

December 21, 2020 5481 Views 0 comment Print

The Maharashtra Goods and Services Tax Department (MGSTD) is initiating audits u/s 65 of the MGST Act in case of selected RTPs. The present circular is being issued to clarify certain aspects related to GST Audit u/s 65 of MGST Act, 2017. Commissioner of State Tax, Maharashtra Stale, Mumbai 8th flr. New Bldg. GST Bhavan, […]

HC quashes Commissioner Appeal Order for Not Issuing Personal Hearing Record

December 21, 2020 1563 Views 0 comment Print

Metrolite Roofing Pvt. Ltd. Vs The Dy. Commissioner of Central Tax and Central Excise (Kerala High Court) High Court of Kerala Quashes Appeal Commissioner’s Order for Not Issuing Record of Personal Hearing as Per CBIC Instruction. FULL TEXT OF THE HIGH COURT ORDER /JUDGEMENT In all these Writ Petitions, the issue that is raised while […]

CIT cannot expand limited scrutiny by section 263 Order

December 20, 2020 2787 Views 0 comment Print

Sonali Hemant Bhavsar Vs PCIT (ITAT Mumbai) We observe from the notice issued under section 143(2) of the Act for limited scrutiny dated 19.09.2016 and find merits in the contentions of the assessee that the said limited scrutiny can not be expanded unless the AO converted it into complete scrutiny with the approval of Ld. […]

Section 263 Revisional Jurisdiction not permitted to traverse beyond jurisdiction vested with AO

December 20, 2020 1065 Views 0 comment Print

R. & H. Property Developer Pvt. Ltd. Vs PCIT (ITAT Mumbai) Pr. CIT had held the order passed by the A.O under Sec. 143(3), dated 10.10.2016 as erroneous, in so far it was prejudicial to the interest of the revenue, for the reason, that he had failed to carry out proper investigation as regards the […]

Extend Due Dates for Tax Audit and Income Tax Return Filing

December 19, 2020 68502 Views 14 comments Print

Chartered Accountants Association, Jalandhar has made a representation to the FM and requested for extension of Due Dates for Tax Audi and Income Tax Return Filing for the Assessment Year 2020-21. Full text of the representation is as follows:- Chartered Accountants Association (C R Building, Model Town Road, Jalandhar) For correspondence care:- CA. Ashwani Jindal, […]

ITP to undergo imprisonment in Income Tax Refund Fraud Case

December 18, 2020 1770 Views 0 comment Print

Chief Commissioner (Admn.) & Commissioner of Income Tax Vs N.K. Mohnot  (Additional Chief Metropolitan Magistrate (E.O.I, Egmore-Chennai) The case arose out of a complaint been filed by the complainant, the Chief Commissioner of Income Tax (Administration) and Commissioner of Income Tax at the instance of the Commissioners of Income Tax of wages Division in Tamilnadu, […]

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