There is nothing in section 40(a)(ia) to treat assessee as a defaulter where there is shortfall in deduction of TDS and if the shortfall is due to any difference of opinion as to taxability of any item or the nature of payment falling under various TDS provisions, the assessee can only be declared to be an assessee-in-default under section 201 and no disallowance could be made.
B.R. Associates Pvt. Ltd. Vs ACIT (ITAT Delhi) In absence of adverse material found during search, no addition could be made merely on the basis of statement recorded under section 132(4) of Income Tax Act, 1961 which did not constitute conclusive evidence and having been given under pressure was immediately retracted. Additions made u/s 153A […]
Kishore Sharma Vs Sachin Dubey (Supreme Court of India) The present appeal takes exception to the order dated 15th November, 2018 passed by the High Court of Madhya Pradesh, Indore Bench, thereby it allowed the application filed by the respondent for quashing of proceedings instituted against him under Section 138 of the Negotiable Instruments Act, […]
In re M/s Ashok Kumar Choudhary (GST AAR Rajasthan) What shall be rate of GST on activity of sub-contract for earthwork in relation to construction of access controlled Nagpur-Mumbai Super Communication Expressway (Maharashtra Samruddhi Mahamarg)? We find that the activity carried out by the applicant does not involve supply of goods whatsoever in any manner […]
In re NMDC Limited (GST AAAR Chhattisgarh) In the instant case, Structures/towers meant for Lighting for Plant Road, Boundary Wall and Watch tower can in no way be related to the outward supply of goods. As per Section 2(83) of CGST Act, 2017 “outward supply” in relation to a taxable person, means supply of goods […]
1. Whether input tax credit can be availed for civil and railway allied works in connection with the laying of private Railway Siding? 2. Whether input tax credit can be availed on signaling & telecommunication system, mechanical and structural works in relation to Railway Siding? 3. Whether input tax credit can be availed on execution of P-Way, Civil, over head electrification, general electrical and signaling & telecommunication works for the proposed block station yard in relation to private Railway Siding?
णonduct of the assessee in changing stand at different level and claiming lesser agricultural income before the authorities below would clearly show that authorities below were very reasonable in estimating the agricultural income at Rs.14 lacs, though the assessee claimed lesser amount of the same subsequently. Therefore, authorities below were justified in considering Rs.10,78,544/- as income from other sources.
Nishi Kapoor Vs ITO (ITAT Delhi) The Assessing Officer who has valid jurisdiction over the case of the assessee shall record reasons u/s 148(2) for reassessment proceedings, otherwise issue of notice u/s 148 is not valid. Reopening notice invalid If the officer who had issued the notice under section 148 of the Act, was different […]
CIT Vs Intervet India Pvt.Ltd. (Bombay High Court) The Assessee had undertaken sales promotional scheme viz. Product discount scheme and Product campaign as discussed herein above under which the Assessee had offered an incentive on case to case basis to its stockists/dealers/agents. An amount of Rs.70,67,089/- was claimed as a deduction towards expenditure incurred under […]
Interest income derived by assessee, co-operative society from its investments held with a co-operative bank, was entitled for claim of deduction under section 80P(2)(d) as for the purposes of section 80P(2)(d) of the Act, Cooperative Bank Ltd shall be treated as a co-operative society.
