Depreciation claimed by assessee under section 32 cannot be considered for the purpose of computing disallowance under section 14A because section 14A deals only with the expenditure and not any statutory allowance, such as depreciation under section 32.
In re Kolte Patil Developers Ltd. (GST AAAR Maharashtra) The Appellate Authority for Advance Ruling upheld the ruling given by the Advance Ruling Authority by observing that since the Appellant has raised questions on the admissibility of the credit of the service tax and VAT paid under the pre-GST regime, it is held that neither […]
Avenue for seeking certified copies as well as inspection is provided both in the Right to Information Act and in Company Secretaries Act, 1980. We are cognizant of the fact that guidelines of the appellant, framed by its statutory council, are to govern the modalities of its day-today concerns and to effectuate smooth functioning of its responsibilities under the Company Secretaries Act, 1980.
Points that emerge for adjudication are whether the search and seizure under GST was carried out by observing the ‘substantive due process’ as well as the ‘procedural due process.’
Union of India Vs Shiyaad (Kerala High Court) Respondents, members of the Plastic Recycling Industrial Association’ had sent a representation to the GST Council on 27.07.2017 by post alleging that levy of 18% GST on recycled plastic products had made adverse impact on that industry; that a prayer was made for completely withdrawing levy of […]
Cost imposed of 1 lakh by Delhi High Court on Petitioner for suppressing the fact of filing the same writ earlier before another bench of Delhi HC and withdrawing the same as that Bench seemed unfavorable
Mercury Car Rentals Pvt. Ltd. Vs DCIT (ITAT Kolkata) During the course of assessment proceeding, the AO observed that assessee failed to reconcile interest income to the extent of Rs.67,939/- with its books of accounts and therefore added back the said amount as undisclosed interest income of the appellant as shown in the Form 26AS. […]
There was no merit in the argument that while a partnership deed is to be registered, amendment thereto is not. Amended salary clause being neither stamped nor registered, it was not admissible in evidence in a court of law, i.e., as a legally enforceable contract. Therefore, AO could not be faulted with for not giving cognizance to such a document and disallowance of remuneration paid to partner as made by AO was justified.
Mercury Car Rentals Pvt. Ltd. Vs DCIT (ITAT Kolkata) It is noted that the provisions in respect of gratuity, leave encashment, ex-gratia & bonus were created on actuarial basis and had been estimated with reasonable certainty. Accordingly such provisions cannot be said to be provisions of unascertained liabilities so to add it back under clause […]
Papers seized fro the premises of Group Company could not be relied upon for making additions in the hands of the assessee whose names appeared in the said documents.
