In re M.U.N. Agro Industry Pvt. Ltd. (GST AAR Maharastra) Frozen meat of sheep / goat in HDPE gunny bag which do not indicate any information related to weight / number of carcass packed in such bags would tantamount to being as a product not put up in unit container and thus falls under chapter […]
Schwing Stetter India Ptd. Ltd. Vs Commissioner of GST & Central Excise (Madras High Court) The sum and substance of the prayer of the petitioners is that they are unable to upload Form GST TRAN-1 to take credit of the Input Tax /Service Tax/Central Excise Duty availed by them at the time of migration within […]
Where assessee, a non-resident, had received foreign allowances outside India for the services rendered in Netherlands, the foreign allowances received by assessee were not liable to tax under section 5(2).
In re YKK India Private Limited (GST AAR Haryana) 1. The applicant is not eligible to take input tax credit on:- a. GST charged by the Contractor for hiring of buses for transportation of employees. b. GST charged by the Contractor for hiring of cars for transportation of employees? 2. The restriction on ‘Rent a Cab’ […]
In re Vservglobal Private Limited (GST AAR Maharastra) The applicant is registered person under GST ACT who is supplier of Services, which is a corporate entity incorporated in India and having its registered office in Mumbai. The orders for supply of said services are received in its Mumbai office and also services are executed from […]
Where assessee registered under section 12AA had given advances to unregistered trusts, then it could be held guilty for violation of provisions of section 13 and consequently be denied exemption under section 11, if it was established that the president of the recipient trusts was having substantial interest in such trusts.
Rajesh Singhvi and Sons (HUF) Vs ITO (ITAT Chennai) Claim of the assessee for exemption u/s.10(38) of the Act, on alleged long term capital gains arising on sale of shares of M/s.Cresanda Commercial Solutions Ltd and M/s. Surabhi Chem & Investment Ltd were disallowed by the ld. Assessing Officer considering these to be penny stock companies […]
Though capital gain utilized towards purchase of new asset before furnishing of return of income either under section 139(1) or belatedly under section 139(4) would be deemed to be sufficient compliance of section 54B(2), therefore, denial of the deduction under section 54B towards purchase of agricultural land after the due date of filing of return under section 139(1) was unjustified and liable to be set aside.
Article informs the taxpayers about the broad tax treatment of foreign income of persons resident in India. In a liberalized economy, more and more citizen of the country are travelling to work and earn income in foreign countries. Often these taxpayers are not adeuately equipped to understand the taxability of their foreign income. Article is […]
Where sundry creditors arising out of the purchases debited in the profit and loss account as revenue expenses, were added to income of assessee for want of the addresses of said creditors, that did not mean assessee had concealed the particulars of income or furnished inaccurate particulars of income, so as to impose penalty under section 271(1)(c).
