CA Prarthana Jalan

SC pulled up department for delay in filing of appeal, imposes personal cost of Rs 25,000

Income Tax - Hon’ble SC has in the case of UNION OF INDIA & ORS v/s M/S VISHNU AROMA POUCHING PVT. LTD. & ANR in SPECIAL LEAVE PETITION (CIVIL) Diary No(s). 1434/2021 has come down heavily on the lethargy on part of the revenue department in late filing of appeals, even when so much computerization have been achieved. […]...

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Certain Relaxations Needed to Make More Vishwas In Vivad Se Vishwas Scheme

Income Tax - How much Vivad would be closed and how much Vishwas the Vivad se Vishwas scheme will be able to achieve that in coming months would be in front of all of us,but this scheme has proved the true integrity that we professionals have. It is the professionals who foregoing their professional opportunities and are educating […]...

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24th July | Income Tax Day – “कोष मूलो दण्डः (Kosh Muloo Dand)”

Income Tax - As mark of celebration of 159th Income Tax Day on 24th July,2019, CBDT in a mega event to be held in Delhi to be graced by Hon’ble FM and other distinguished personalities of Finance Minstry, CBDT and Income Tax Department would be launching taxpayer’s e-assistance campaign....

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Do Surgical Strike , Not Tax Terrorism For Collection of Tax

Income Tax - CBDT- HOW’S THE TAX COLLECTION? Income Tax Officers- high CBDT- HOW’S THE TAX COLLECTION? Income Tax Officers- HIGH CBDT –HOW’S THE TAX COLLECTION? Income Tax Officers- HIGH CBDT- I WANT TO HEAR HIGGGGHHHHHHHHHH Well, as we are marching towards March, i.e end of financial year, Income tax department by any means even by ignoring t...

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Dangerous Overdose of Drug of Social Media Sites/Apps

Income Tax - “Rahul”, “Rahul”, “RAHUL…………………..””RAHUL DO YOU HEAR ME OR NOT?” . “Smriti”, “Smriti””SMRITI…………………” “I AM TELLING YOU SMRITI, I AM GONNA THROW THAT PHONE OF YOUR’S IN THE DUSTBIN” “PHONE……..PHONE……PHONE………..DIN BHAAR PHONE MAIN(DAY AND NIGHT ON PHONE)” Wel...

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Indiscriminate notices by Income Tax Department without allowing reasonable time

Income Tax - National Chamber of Industries & Commerce, U.P has made a representation against Indiscriminate notices by the Income Tax Department without allowing reasonable time. They submitted that in the last few days large number of taxpayers in whose cases the Assessment/Re-assessment, proceedings were pending at the Income Tax Department hav...

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27 Pre-Budget Suggestion on Union Budget 2022

Income Tax - National Chamber of Industries & Commerce, U.P. has made a representation to Hon’ble Union Minister for Finance and made 27 Suggestion related to Union Budget 2022. Suggestion includes request for Rationalization of Rate Of Tax On Firms/LLP, Enhancement of Section 80C Limit,  Allowability Of CSR Expenditure, Amendment To section 54...

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Problems on Income Tax Portal, Faceless Assessment & Appeals

Income Tax - National Chamber of Industries & Commerce, U.P. has made a representation on Problems On Income Tax Portal , Faceless Assessment & Appeals to Hon’ble Chief Commissioner of Income Tax,(OSD) Agra. They highlighted issued related to Glitches in the New Income Tax Portal, Faceless Assessments/Penalty, Faceless Appeals, Processin...

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PF/ESI/EPF paid before ITR filing for AY 2018-19 was allowable: ITAT Agra

Krishna Kanha Shelters Pvt. Ltd. Vs ACIT (ITAT Agra) - Krishna Kanha Shelters Pvt. Ltd. Vs ACIT (ITAT Agra) ITAT held that AO was not justified in denying, the deduction claimed by the assessee for AY 2018-19 on account of late deposit of PF/ESI/EPF, albeit before filing the return of income. Admittedly in all the above-stated matters, the revenue had n...

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Late deposit of Employees Provident Fund prior to 01-4-2021 will not attract any disallowance- ITAT Hyderabad

Valuemomentum Software Services Private Limited Vs DCIT (ITAT Hyderabad) - Hon’ble Hyderabad ITAT has in the case of Value Momentum Software Services Private Limited in I.T.A. No. 2197/HYD/2017 has held that late deposit of Employees Provident Fund prior to 01-4-2021 will not attract any disallowance as the explanation inserted by Finance Act,2021 in section 43B and Sec ...

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Lockdown period wages: Employers & Employees Should Negotiate & Settle themselves: SC

Ficus Pax Private Limited Vs Union of India & Ors. (Supreme Court) - Ficus Pax Private Limited  Vs Union Of India & Ors. (Supreme Court) Hon’ble Supreme Court in an interim order passed today in the case of FICUS PAX PRIVATE LIMITED & ORS. P VERSUS UNION OF INDIA & ORS. has stated that Employers and Employees Should Try to negotiate and settle between ...

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Interest on PPF, Saving Bank deposit or Loan part of Aggregate Turnover For GST Registration

Re. Shree Sawai Manoharlal Rathi (GST AAR Gujarat) - In the case of Sawai Manoharlal Rathi, the Gujarat Authority for Advance Ruling has held that interest income from PPF, interest income from personal loan and advances given to family/friends and interest income from saving bank account to be included in aggregate turnover for GST registration....

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Unsecured Loan from relatives cannot be equated with Bank Loan

DCIT Vs. Prem Kumar Gupta (ITAT Delhi) - Hon'ble Delhi ITAT held that there is difference between loan taken from Banks and unsecured loans taken from the relatives. In the case of unsecured loans from the relatives, no formalities and bank guarantee have to be given. Thus the Hon'ble Tribunal has held 15% interest paid on unsecured loans ...

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Recent Posts in "CA Prarthana Jalan"

Indiscriminate notices by Income Tax Department without allowing reasonable time

National Chamber of Industries & Commerce, U.P has made a representation against Indiscriminate notices by the Income Tax Department without allowing reasonable time. They submitted that in the last few days large number of taxpayers in whose cases the Assessment/Re-assessment, proceedings were pending at the Income Tax Department hav...

Read More
Posted Under: Income Tax | ,

PF/ESI/EPF paid before ITR filing for AY 2018-19 was allowable: ITAT Agra

Krishna Kanha Shelters Pvt. Ltd. Vs ACIT (ITAT Agra)

Krishna Kanha Shelters Pvt. Ltd. Vs ACIT (ITAT Agra) ITAT held that AO was not justified in denying, the deduction claimed by the assessee for AY 2018-19 on account of late deposit of PF/ESI/EPF, albeit before filing the return of income. Admittedly in all the above-stated matters, the revenue had not contended that the assessee […...

Read More

27 Pre-Budget Suggestion on Union Budget 2022

Notification No. NCIC/24/2021-22 14/12/2021

National Chamber of Industries & Commerce, U.P. has made a representation to Hon’ble Union Minister for Finance and made 27 Suggestion related to Union Budget 2022. Suggestion includes request for Rationalization of Rate Of Tax On Firms/LLP, Enhancement of Section 80C Limit,  Allowability Of CSR Expenditure, Amendment To section 54...

Read More
Posted Under: Income Tax | ,

Problems on Income Tax Portal, Faceless Assessment & Appeals

National Chamber of Industries & Commerce, U.P. has made a representation on Problems On Income Tax Portal , Faceless Assessment & Appeals to Hon’ble Chief Commissioner of Income Tax,(OSD) Agra. They highlighted issued related to Glitches in the New Income Tax Portal, Faceless Assessments/Penalty, Faceless Appeals, Processin...

Read More
Posted Under: Income Tax | ,

SC pulled up department for delay in filing of appeal, imposes personal cost of Rs 25,000

Hon’ble SC has in the case of UNION OF INDIA & ORS v/s M/S VISHNU AROMA POUCHING PVT. LTD. & ANR in SPECIAL LEAVE PETITION (CIVIL) Diary No(s). 1434/2021 has come down heavily on the lethargy on part of the revenue department in late filing of appeals, even when so much computerization have been achieved. […]...

Read More
Posted Under: Income Tax |

Late deposit of Employees Provident Fund prior to 01-4-2021 will not attract any disallowance- ITAT Hyderabad

Valuemomentum Software Services Private Limited Vs DCIT (ITAT Hyderabad)

Hon’ble Hyderabad ITAT has in the case of Value Momentum Software Services Private Limited in I.T.A. No. 2197/HYD/2017 has held that late deposit of Employees Provident Fund prior to 01-4-2021 will not attract any disallowance as the explanation inserted by Finance Act,2021 in section 43B and Sec 36(va) has prospective effect and the sa...

Read More

Lockdown period wages: Employers & Employees Should Negotiate & Settle themselves: SC

Ficus Pax Private Limited Vs Union of India & Ors. (Supreme Court)

Ficus Pax Private Limited  Vs Union Of India & Ors. (Supreme Court) Hon’ble Supreme Court in an interim order passed today in the case of FICUS PAX PRIVATE LIMITED & ORS. P VERSUS UNION OF INDIA & ORS. has stated that Employers and Employees Should Try to negotiate and settle between themselves issues relating to […]...

Read More

Interest on PPF, Saving Bank deposit or Loan part of Aggregate Turnover For GST Registration

Re. Shree Sawai Manoharlal Rathi (GST AAR Gujarat)

In the case of Sawai Manoharlal Rathi, the Gujarat Authority for Advance Ruling has held that interest income from PPF, interest income from personal loan and advances given to family/friends and interest income from saving bank account to be included in aggregate turnover for GST registration....

Read More

Certain Relaxations Needed to Make More Vishwas In Vivad Se Vishwas Scheme

How much Vivad would be closed and how much Vishwas the Vivad se Vishwas scheme will be able to achieve that in coming months would be in front of all of us,but this scheme has proved the true integrity that we professionals have. It is the professionals who foregoing their professional opportunities and are educating […]...

Read More
Posted Under: Income Tax |

24th July | Income Tax Day – “कोष मूलो दण्डः (Kosh Muloo Dand)”

As mark of celebration of 159th Income Tax Day on 24th July,2019, CBDT in a mega event to be held in Delhi to be graced by Hon’ble FM and other distinguished personalities of Finance Minstry, CBDT and Income Tax Department would be launching taxpayer’s e-assistance campaign....

Read More
Posted Under: Income Tax |

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