Universal Dyechem Private Limited Vs Union of India (Gujarat High Court) Once the show-cause notice is issued to the party concerned, the documents/records, which have not been relied upon, should be returned to the party. This is what even is suggested in the master circular dated 19.01.2017 which has been referred to in the representation. […]
Armed Forces Officers Co-operative Housing Society Ltd. Vs ITO (ITAT Hyderabad) A perusal of the assessee’s identical pleadings in all these six appeals fails to pin point any factual distinction qua the interest issue in these assessment years before us. We therefore adopt judicial consistency and partly confirm both the lower authorities’ action disallowing the […]
Dharti Quarry Works Vs State of Gujarat (Gujarat High Court) We are of the view that there is no legal justification for withholding the amount referred to above, which is otherwise refundable to the writ applicants in passing of any assessment orders for the relevant assessment years. It could be said that such withholding of the refund is contrary […]
Documents/records which are not relied upon in the show-cause notice, are required to be returned under proper receipt to the person from whom those are seized.
ACIT Vs Kapu Gems E-Tower Centre (ITAT Mumbai) The Assessing Officer concluded that the TPO has called for specific details pertaining to segmental profitability between AE and non-AE segments within the meaning of section 92D(3) of the income tax Act, 1961. The details were called for during transfer pricing proceedings and assessee was given opportunity […]
The COVID-19 pandemic not only had an effect on our financial security but also on our physical and mental wellbeing. The period has taught us some lessons for life, and none better than the importance of saving and investing for emergency crisis. We need money to start investing, true. But we do not need to […]
New Functionalities Made Available For Taxpayers On GST Portal (January, 2021) includes Functionality related to Deemed approval of Registration Application in Form GST REG-01, Field for capturing validity period, in case of SEZ unit and SEZ developers, in Form GST REG-01, Facility to upload documents in Form GST REG-13, Aadhaar Authentication and e- KYC changes […]
Union Minister for Finance and Corporate Affairs, Smt. Nirmala Sitharaman presented the Economic Survey 2020-21 in the Parliament today. The key highlights of Economic Survey 2020-21, which is dedicated to the COVID Warriors, are as follows:
Mumbai Local train services be allowed from the start of services for the day to 7 AM and then again from 12 PM to 4 PM in the afternoon and from 9 PM to closure of local train services for the day with effect from 1st February 2021.
CAG has issued two draft notifications by which it has proposed to appoint 10,811 new auditors. It has invited comments on the proposed Recruitment Rules to the post of Auditor/ Accountant, Level 5 in pay matrix. Proposed draft rule proposed appointment of 6409 Auditors vide Draft Indian Audit and Accounts Department (Auditor) Recruitment Rules, 2021 […]
