Property tax levied by the Municipal Authority is a charge on the property. Undisputedly, the licensor is the owner of the property, hence, liable to pay the property tax. That being the case, the amount equivalent to the property tax reimbursed to the licensor cannot be treated as rate, tax, fee, cess, etc., as provided under section 43B(a) of the Act.
Krupa Trading Company Vs C.C.E. & S.T. (CESTAT Ahmedabad) The short issue involved in the present case is that whether the denial of Cenvat Credit by the Adjudicating Authority for the reason that invoices of input service bear handwritten serial number is correct or otherwise. It is clear from the rules that the invoice should […]
The issue under consideration is whether the Search and resultant seizure of documents and record by Director of Revenue Intelligence is justified under Customs Act, 1962?
Hon’ble Court has held that the addition has to be made on the basis of GP of the assessee. Accordingly, ITAT set aside the order of CIT(A) and direct the AO to apply a rate of 3% on the bogus purchases.
We say so as it may well, in view of the joint residence, be that no area (portion) is specified in the rent agreements. The number of family members living jointly; their living requirements – which may not be uniform; fair rental value of the property, etc., are some of the parameters which could be considered for the purpose. The AO shall adjudicate thereon per a speaking order, giving definite reasons for being in disagreement, where so, in whole or in part, with the assessee’s working, within a reasonable time. We decide accordingly. In the result, the assessee’s appeal is partly allowed on the aforesaid terms.
The issue under consideration is that whether the rent received as per the option agreement is chargeable to tax under the head ‘ Income from house property’ or under the head ‘ Income from Other sources’?
Hindustan Coca Cola Pvt. Ltd. Vs Assistant State Tax Officer (Kerala High Court) The petitioner a Private Limited Company engaged in manufacture and supply of fruit-based beverages/drinks registered in State of Kerala under GST Act. According to the petitioner, the product manufactured by them was classified under HSN 2202 9920 under GST and discharging GST […]
The issue under consideration is that the respondent had willfully defaulted in filing a return pursuant to the notices issued under Section 153A of the Act and thus, committed the offence punishable under Section 276CC of the Act.
Assessee needs to seek stay of outstanding demand since his Bank account has been attached by the department. Also he has financial stringency. Attachments to bank accounts withdrawn to enable assessee to pay tax demand.
Service tax component need not be included in the total turnover for the purpose of computing income under section 44BB of the Income Tax Act, 1961. ITAT further held that receipts on account of reimbursement of equipment Lost in Hole will not form part of gross receipts for the purpose of section 44BB.
