Assessee-company was engaged in the business of trading of electromechanical relays, wire and wireless equipment, high performance polymeric products, highly specialized energy related products, was subject to scrutiny.
One Time Settlement (OTS) schemes were launched by the Telangana Government to enable the tax payers to settle the disputed tax amounts under the Telangana Value Added Tax Act (VAT Act) and the Central Sales Tax Act (CST Act).
Reassessment under section 147 was not justified as there was no “close nexus” or “live link” between tangible material and the reason to believe that income had escaped assessment.
ITAT Ahmedabad quashes reassessment of Specific Ceramics Ltd for FY 2008-09 due to non-issuance of mandatory notice under Section 143(2).
ITAT Ahmedabad ruled that an assessment is invalid if mandatory notice under Section 143(2) was not issued, highlighting Section 292BB’s limitations.
ITAT Rajkot rules on Girishbhai Nanjibhai Solanki case, addressing validity of reopening assessment and notice under sections 143(2) and 148 of Income Tax Act.
GST AAR Gujarat ruling on nonwoven coated fabrics: Classified under Chapter 39, not HSN 56031400 or Chapter 50. GST rate at 18% for specified products.
Gujarat AAR ruling on the GST classification of marine equipment, confirming that imported goods retain their initial classification for GST purposes.
Madras High Court ruled that only a registered service provider can file for GST refund, dismissing the refund claim by the recipient in Tvl. Norton Granites case.
Calcutta High Court accepts GST appeal filed late due to accountant oversight, considering pre-deposit made and no lack of bona fide on Assessee’s part.
