Jharkhand High Court held that instalments paid under Income Declaration Scheme, 2016 is allowed as refund. However, interest on the same is not payable as there was no voluntary payment of tax on self-assessment.
Orissa High Court held that the suo motu revisional proceeding under section 18(1) of the Odisha Entry Tax Act, 1999 has to be concluded not beyond five years from the original order of assessment.
ITAT Amritsar held that mere typographical mistake in mentioning the balance of capital account doesnot amount to concealment. Accordingly, addition on account of unexplained money unsustainable.
ITAT Bangalore held that for claiming exemption under section 54F of the Income Tax Act, the assessee is required to furnish necessary evidence proving construction of the residential building within the period as enumerated in section 54F of the Act. As assessee failed to produce the same, exemption u/s 54F not available.
The petitioner had made an application in the requisite form (Form GST REG-16) praying that his registration be cancelled with effect from 31.07.2021. The reason for seeking cancellation of the registration was disclosed as ‘Discontinuance of business/Closure of business’.
Servocraft HR Solutions Private Limited Vs Commissioner of Central Excise and Service Tax (CESTAT Chennai) CESTAT Chennai held that Show Cause Notice ought not to be issued when the assessee has paid Service Tax along with interest on being pointed out. Accordingly, penalty imposed under section 77 and section 78 of the Finance Act, 1994 […]
Sh. Yasir Bilal Khan Vs DCIT (ITAT Amritsar) ITAT Amritsar held that penalty u/s 271B for non-furnishing of audit report within specified date leviable as assessee failed to prove nexus between non-completion of the audit report u/s. 44AB with the flood of Kashmir. Facts- The penalty was levied by the ld. AO u/s. 271B of […]
ITAT Bangalore held that income from sale of developed flat, obtained under Joint Development Agreement (JDA), is to be treated as income from short term capital gain/ long term capital gain and not as income from business.
Bombay High Court deferred the hearing in the matter of levy of VAT or GST on Extra Neutral Alcohol as matter already pending before Supreme Court.
ITAT Amritsar held that provisions of section 115BBE of the Income Tax Act cannot be made applicable where assessee has made a statement that the excess stock was a result of suppression of profit in respect of sales made outside the books of accounts.
