Tvl. Lucky Mydeen Briyani Vs Commissioner (Madras High Court) It is seen that the petitioner during the Covid-19 pandemic period had not filed his returns and thereafter, he had not conducted any business so that he filed only nil returns. Further this case is quite similar to the cases of the petitioners in Tvl.Suguna Cutpiece […]
Finance Minister Smt. Nirmala Sitharaman chairs meeting on Illegal Loan Apps. Multiple steps outlined to prevent operations of such Illegal Loan Apps. Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman chaired a meeting yesterday to discuss the various issues related to ‘Illegal Loan Apps’ outside the regular banking channels. The meeting was attended […]
Income Tax Department conducts searches on prominent business groups in Maharashtra The Income Tax Department carried out a search & seizure action on 25.08.2022 on two groups engaged in the business of sand mining, sugar manufacturing, road construction, healthcare, running of medical college etc. The search action covered more than 20 premises spread over Solapur, […]
Chenna Krishnama Charyulu Karampudi Vs Additional Commissioner Appeals (Telangana High Court) HC held that Though the lower appellate authority may be right in holding that while it may allow filing of an appeal beyond the limitation of three months for a further period of one month, therefore, by extension of limitation beyond the extended period […]
Cancelled registration of GST can be restored by regularizing defaults vide levying penalty with gravity of lapses committed by petitioner by issuing notice
Navi Mumbai CGST arrests one person for availing and passing on fake ITC on bogus invoices amounting to Rs 181.67 Crores On 7th September 2022, the Director handling the business activities of M/s Robosteel Trading Pvt. Ltd. (GSTIN:AACCR8701J1Z8) has been arrested by CGST, Navi Mumbai on the charges of availing/utilizing/passing on fake Input Tax Credit (ITC) […]
CGST Mumbai South Commissionerate busts Rs. 142 Crore fake GST invoice racket One person arrested in the case Officers of CGST Mumbai South Commissionerate have busted a fake GST invoice racket, which was used to pass on fake GST Input Tax Credit (ITC) of Rs. 27.80 crore on invoices of Rs 142 Crore, and have […]
Sunny Rock Estates & Developers Pvt. Ltd Vs DCIT (ITAT Kolkata) Income earned during the year by the assessee is on inter-corporate deposit with Williamson Services Ltd. as interest income. We also note that assessee has consistently reported its earning of interest income from ICDs, as business income which has been accepted by the Department […]
In the present complaint, Opposite Parties have tampered with original MRP Price of oil sachet and charged extra amount more than MRP.
Reasonable quantum of cash available out of past savings should be considered as being available to assessee to explain source of cash deposited in bank
