When purchase and sale of shares were supported by proper Contract Notes, shares were purchased and sold through recognised broker and sale considerations were received by Account Payee Cheques, the transactions could not be treated as bogus and loss on account of client code modifications should be allowed.
In re Ms. R.B. Construction Company (GST AAAR Gujarat) M/s. R.B. Construction Co. is not entitled, under sub-sections (3) and (6) of Section 140 of the CGST Act, 2017 and the GGST Act, 2017 to avail input tax credit. In respect of that part of supply made by M/s. R.B. Construction Co., wherein time of […]
Where assessee received capital from the partner in cash, it did not tentamount to loan or deposit and therefore, penalty under section 271D was not to be levied for violation of section 269SS.
(1) These rules may be called the Insolvency and Bankruptcy Board of India (Annual Report) Rules, 2018. (2) They shall come into force on the date of their publication in the Official Gazette.
C.C.E. & S.T. Vs Hindalco Industries Limited (CESTAT Ahmedabad) Dross and Skimming were nonferrous metal for any such by-product or waste which are non-excisable goods and are cleared for a consideration from the factory need to be treated like exempted goods for the purpose of reversal of credit of input or input service in terms […]
ACIT Vs Swastik Pipes Ltd. (ITAT Delhi) The assessee produced documentary evidences in support of its contention which had not been rebutted by AO and since impugned payments were in the form of reimbursement and no payments were made by assessee directly to shipping companies, therefore, assessee was not liable to deduct tax under section […]
Satyendra Goods Transport Corp. Vs State of U.P. & ors. (Allahabad High Court) It has been held that on the relevant date i.e. 4 Dec. 2017 when the vehicle in question was intercepted, the ‘Government’ referred in Rule 138 of the C.G.S.T. Rules 2017, which was the Central Government, had not developed and approved any […]
Once the assessee retracts from the statement given during survey under section 133A then it is the duty of AO to establish beyond any doubt the issues on which the addition in income needs to be made and no addition can be sustained only on the basis of such statement recorded during the survey.
In re Pioneer Partners (GST AAR Haryana) The services for the right to use minerals including its exploration and evaluation, as per Sr. No. 257 of the annexure appended to notification no. 11/2017-CT (Rate), dated 28.06.2017 is included in group 99733 under heading 9973. The royalty/dead rent paid/payable to the Government by the applicant is […]
Whether the following ancillary services provided are exempt from GST • Transfer Fees – Fees charged for the purpose of transfer of Industrial Plot from one person to another. • Extension Fees – Fees charged for delay in the commencement’ of construction and production. • Conversion Fees – Fees charged for the conversion of leasehold plot into freehold.
