DSV Solutions Pvt Ltd Vs DCIT (ITAT Mumbai) There was no forwarding, not even an effort to forward, the draft assessment order to the correct address, or at least the address furnished to the Assessing Officer under proviso to rule 127(2), within the permitted time frame under Section 153 r.w.s 144C of the Income Tax […]
Sudhan Chandra Basak Vs Union of India (Allahabad High Court) This application is filed on basis of some undisputed facts that orders of penalty were passed against applicant under Sections 271(1)(a), 271(1)(c) and 273(b) of Income Tax Act for late filing of return for Assessment Year 1983-84. These orders were challenged by way of three […]
ITAT held that when assessee filed return of income well before due date, but due to inadvertence, not filed independent auditor’s report, which it has filed later on, the claim of assessee /- under section 80P(2)(d) of Income-tax Act, 1961, if otherwise admissible, cannot be denied.
Cost of transportation if collected in addition to price of goods and shown separately in invoice, needs to be excluded from assessable value.
Pathankot Hindu Urban Co-operative Bank Ltd Vs DCIT (ITAT Amritsar) In this case assessee claimed the loss on diminution value of securities as well as stock. The main grievance of the revenue is that this particular value was not taken in the books of accounts. But factually correct that the circular of the CBDT has […]
ITAT held that on account of the fault of authorised representative / chartered accountant / advocate of assessee, the assessee should not be made to suffer and more particularly, when the assessee happened to be a senior citizen and is not conversant with the digital communication.
Grievances have been received from Trade and Customs Brokers highlighting the issue of delay in examination and clearance of consignments of fresh fruits.. especially in view of the perishable nature of such fresh fruits, where verification or investigation is being done by SIIB (I) or CIU, JNCH,
a. A registrar to an issue and share transfer agent falling under category I, as specified in sub-regulation (2) of regulation 3, shall pay a fee of two lakh and seventy thousand rupees; b. A registrar to an issue or share transfer agent falling under category II, as specified in sub-regulation (2) of regulation 3, shall pay a fee of ninety thousand rupees.
Gabriel India Limited Vs Commissioner, Central Goods & Service Tax and Central Excise (CESTAT Delhi) w.e.f. 01.07.2017, the Government of India had introduced GST regime which has replaced earlier Cenvat Credit Rules, 2004 with transitional period of 30 days. Accordingly, after 30.07.2017, no assessee is permitted to avail credit in the cenvat credit account. As […]
Lilaben Bhagabhai Patel Vs ITO (ITAT Ahmedabad) CIT(A) has categorically observed that the print out of share trading from the brokers related to share transaction statement was unsigned documents and the Assessing Officer has taken the loss on the basis of information provided by National Stock Exchange, Bombay. It is pertinent to note that the […]
