Admittedly, the mobile phone and charger are sold as part of a composite package. The primary intent of the contract appears to be the sale of the mobile phone and the supply of the charger at best collateral or connected to the sale of the mobile phone.
Hon’ble Allahabad High court has in the case of M/S Simbhauli Sugar Mills Ltd in ITA No 607 of 2011 has held that amendment is sec 43B is curative in nature and would apply retrospectively.
A division bench of the Allahabad High Court recently ruled that the provisions of deemed dividend would not attract in case of mere issuance of a cheque that was subsequently cancelled and returned. While quashing a departmental appeal against the order of ITAT, the bench clarified that payment of any sum is necessary to constitute deemed dividend for the purpose of Section 2(22)(e) of the Income Tax Act, 1961.
Allahabad High Court has directed GST Department to place on record the reasons for cancellation of GST registration without giving personal hearing and by keeping the same on GST website.
It was held that since the User ID and Password of the assessee was not working no coercive action would be taken against the petitioner for not filing the GST return within the time stipulated.
CIT Vs. Apex Finlease Ltd. & Ors. (Allahabad High Court) Section 269SS does not include in its ambit where there is a transaction of loan or deposit by way of entries in the books of account by crediting or debiting the account of the other person. In other words, the provisions of section 269SS of […]
It does appear that the E-Way Bill had been downloaded and produced though with some delay but before conclusion of the penalty proceedings.
The other ground of seizure on which penalty has been imposed is that the goods, started their journey one week after the date of the invoice. Prima facie that cannot be the ground to seize the goods or to impose penalty.
M/S Ramdev Trading Company And Another Vs. State Of U.P. (Allahabad High Court) Penalty and seizure is not sustainable for movement of goods without Transit Declaration Form (TDF) unless there exists malafide intention to evade taxes. In absence of any allegation or evasion of tax being made against the petitioner at the stage of detention […]
Where interest on Fixed Deposit Receipt had no immediate nexus with the business of assessee and business was yet to commence, then so long as assessee had no business income, the interest earned could not be treated as business income and it had to be treated as ‘Income from other sources’.
