Akhilesh Kumar Sah

For section 10A, total turnover is sum of export & domestic turnover

Goods and Services Tax - Section 10A of the Income Tax Act, 1961 (the Act for short) deals with special provision in respect of newly established undertakings in free trade zone, etc....

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Whether Inaugural Expenses Deductible Under Section 37 (1)

Goods and Services Tax - Many times reference has been sought regarding the question whether inaugural expenses incurred by a person are deductible under section 37(1) or not while computing the profits & gains from business or profession (of that person)....

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Review of extension of date for filing audit reports & ITRs is a must

Goods and Services Tax - It is estimated that a large number of cases are pending, countrywide, for audit as well as filing of related Income Tax Return(ITR), where there is compulsory requirement of audit & filing of ITR upto 31st of October 2017. Central Board of Direct Taxes (CBDT) has done a great job by already extending the due date of 30.09.2017 to 31.10.2...

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Extend Due Dates for Composite scheme & GST Return filing

Goods and Services Tax - There are many assessees who are still in the process of migration & many files have not been yet converted at the GST portal as final due to some technical and procedural problems. Also, there are problems in respect of claim of ITC in filing of GST Returns....

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Request to extend due date of filing ITRs from 31st July, 2017 to 30th Sep, 2017

Goods and Services Tax - Due to the implementation of the GST law from 01.07.2017 and the necessity of linking of PAN with Aadhaar Number from 01.07.2017 while filing ITR, has caused severe problems to tax-payers....

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GST regime is not tax friendly, observes Bombay High Court

Abicor and Binzel Technoweld Pvt. Ltd Vs UOI (Bombay High Court) - A tax like Goods and Services Tax was highly publicised and termed as popular. We had yet not seen a celebration of New Tax regime, but that has followed with great hue and cry. These celebrations mean nothing. ...

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Section 41(1) includes remission or cessation of any liability by a unilateral act

DCIT vs Sonodyne Television Co. Ltd.(ITAT Kolkata) - Loss or expenditure or some benefit in respect of any such trading liability by way of remission or cessation shall be includible by a unilateral act by the first person who is assessee, i.e., debtor. There is no stipulation of such unilateral act by the creditor. ...

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Fees for use of Software is revenue in nature and allowable U/s. 37

D.C.I.T. Vs G.E. Capital Business Process Management Services Pvt. Ltd (ITAT Delhi) - License fee, Connectivity charges and co-ordination charges paid to a US based company GE Capital Corporation for use of 'Vision Plus' software held to be revenue in nature and allowable under section 37...

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When company not started its core activity, it cannot be construed that it had commenced its business

Hyderabad Metro Rail Ltd. Vs. ITO (ITAT Hyderabad) - Hyderabad Metro Rail Ltd.: when company not started its core activity, it cannot be construed that it had commenced its business and the income shown in the P&L A/c is not generated from the business activity of the assessee, rules ITAT, Hyderabad....

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ITAT confirms Addition to Income of Priyanka Chopra

Ms. Priyanka Chopra Vs. Dy. CIT (ITAT Mumbai) - IT search and seizure case of Priyanka Chopra: with reference to the materials found specific amount to various heads given wherein the undisclosed income had been utilized, later on retraction by her mother: additions to income held to be justified...

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Recent Posts in "Akhilesh Kumar Sah"

GST regime is not tax friendly, observes Bombay High Court

Abicor and Binzel Technoweld Pvt. Ltd Vs UOI (Bombay High Court)

A tax like Goods and Services Tax was highly publicised and termed as popular. We had yet not seen a celebration of New Tax regime, but that has followed with great hue and cry. These celebrations mean nothing. ...

Read More

Section 41(1) includes remission or cessation of any liability by a unilateral act

DCIT vs Sonodyne Television Co. Ltd.(ITAT Kolkata)

Loss or expenditure or some benefit in respect of any such trading liability by way of remission or cessation shall be includible by a unilateral act by the first person who is assessee, i.e., debtor. There is no stipulation of such unilateral act by the creditor. ...

Read More

Fees for use of Software is revenue in nature and allowable U/s. 37

D.C.I.T. Vs G.E. Capital Business Process Management Services Pvt. Ltd (ITAT Delhi)

License fee, Connectivity charges and co-ordination charges paid to a US based company GE Capital Corporation for use of 'Vision Plus' software held to be revenue in nature and allowable under section 37...

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When company not started its core activity, it cannot be construed that it had commenced its business

Hyderabad Metro Rail Ltd. Vs. ITO (ITAT Hyderabad)

Hyderabad Metro Rail Ltd.: when company not started its core activity, it cannot be construed that it had commenced its business and the income shown in the P&L A/c is not generated from the business activity of the assessee, rules ITAT, Hyderabad....

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ITAT confirms Addition to Income of Priyanka Chopra

Ms. Priyanka Chopra Vs. Dy. CIT (ITAT Mumbai)

IT search and seizure case of Priyanka Chopra: with reference to the materials found specific amount to various heads given wherein the undisclosed income had been utilized, later on retraction by her mother: additions to income held to be justified...

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Directions of JCIT or CIT cannot only be reason to believe for reopening of assessment

Agfa India Pvt. Ltd. (now merged with Afga Healthcare India Pvt. Ltd.) V/s. ACIT (ITAT Pune)

In the present case, a perusal of reasons for initiating reassessment proceedings clearly show that they are against the sprit of provisions of section 147 of the Act. The AO has issued notice under section 148 of the Act on the directions of JCIT and CIT. The learned Members of the ITAT held that in our considered opinion the notice issu...

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Govt depts should avoid unnecessary litigation in Constitutional Courts just for the sake of proving their fictional desires: HC

ACIT Vs. Epson India Pvt. Ltd. (Karnataka High Court)

Revenue authorities and other Government Departments should not avail constitutional remedies for not good reasons, waste the public money and time of constitutional court for frivolous writ petitions...

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When the very basis of the reopening of the assessment having been eroded, notice under section 148 quashed in the case of Oracle

Oracle Systems Corporation vs. Deputy Director Of Income Tax, International Taxation (Delhi High Court)

When the very basis of the reopening of the assessment having been eroded, notice under section 148 quashed in the case of Oracle...

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Royalty paid to Suzuki Motor Corporation Japan by Maruti Suzuki India Ltd. for use of licensed information is revenue expenditure

Maruti Suzuki India Ltd. Vs ACIT (ITAT Delhi)

Maruti Suzuki India Ltd. Vs ACIT (ITAT Delhi) The royalty paid to Suzuki Motor Corporation Japan by Maruti Suzuki India Ltd. for the use of licensed information held to be revenue expenditure...

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Revision petition U/s. 264 cannot be refused for pendency of similar petition for another year

Paradigm Geophysical Pty Ltd Vs. DCIT (Delhi High Court)

Commissioner cannot refuse to entertain a revision petition filed by the assessee under Section 264 of the Act if it is maintainable on the ground that a similar issue has arisen for consideration in another year and is pending adjudication in appeal or another forum....

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