Government has notified new National Savings (Monthly Income Account) Scheme, 2019 w.e.f. 12th December, 2019 vide notification No. G.S.R. 917(E). Article explains about Opening of account under National Savings (Monthly Income Account) Scheme, 2019, Deposits and withdrawals under National Savings (Monthly Income Account) Scheme, 2019, Interest on deposit under National Savings (Monthly Income Account) Scheme, […]
Tarapore & Company Vs State of Jharkhand (Jharkhand High Court) We find that the petitioner firm had acted absolutely in a bona fide manner, as is also apparent from the impugned order dated 20.11 .2017, as contained in Annexure-5 to the writ application, and had discharged its tax liability by paying the VAT amount to […]
he total replacement cost of three machineries in question purchased by the Assessee amounting to Rs.54,59,149/- came to be allowed by the Tribunal as ‘repairs maintenance expenditure’ or ‘revenue expenditure’.
A. B. Pal Electricals Pvt. Ltd. Vs Union of India & Ors. (Delhi High Court) as per Notification No. 49/2019 dated 09.10.20 19 issued by CBIC, the date prescribed for filing of Form GST TRAN-1 under Rule 117 (1A) of the CGST Rules has been extended to 3 1.12.2019. This itself demonstrates that the Respondents […]
Soni Traders Vs Union of India & Ors. (Delhi High Court) it emanates that the Respondents have no cogent ground to deny the benefit of the Notification No. 49/2019 dated 09.10.2019 issued specifically to grant relief to taxpayers who faced difficulty in filing Form GST TRAN-1 due to technical glitches. Credit standing in favour of an […]
CGST Vs Sudhir Kumar Aggarwal (Patiala House Court) Ld counsel for the applicant/accused submitted that the applicant/accused has been falsely implicated. Ld counsel submitted that on various occasions the accused/applicant joined the investigation with the complainant department. Ld counsel submitted that the accused was coerced to give statement on 16.11.2019, however, the said statement has […]
Union Minister of Finance & Corporate Affairs, Smt. Nirmala Sitharaman held her second Pre- Budget Consultation meeting with the stakeholders from Financial Sector and Capital Markets in connection with the forthcoming General Budget 2020-21 here today.
Bombay HC held that in case, the deductor has failed to upheld the correct details in form 26AS the benefit should be given to the assesssee on the basis of evidence produced before the Department.
P.H. Kumar & Co. Vs ITO (Delhi High Court) Court is of the view that the plea of the Assessee ought to have been accepted in the first instance by the AO. The Assessee placed on record the agreement under which it was obliged to bear the loss for shortage of stock. The Assessee also […]
It defies logic as to why such donations cannot be permitted out of 15% accumulation permitted under Section 11(1)(a) itself. There is however rationale for imposing the restriction as contained in the explanation to accumulations in excess of 15%.
