Though capital gain utilized towards purchase of new asset before furnishing of return of income either under section 139(1) or belatedly under section 139(4) would be deemed to be sufficient compliance of section 54B(2), therefore, denial of the deduction under section 54B towards purchase of agricultural land after the due date of filing of return under section 139(1) was unjustified and liable to be set aside.
Sakeel Father /o Shri Wali Mohammad Vs State Tax Officer (Rajasthan High Court) FULL TEXT OF THE HIGH COURT ORDER / JUDGMENT 1. It is stated by learned counsel for the petitioner that show cause notice was issued to the petitioner in terms of Section 129 of the Rajasthan Goods and Service Tax, 2017. However, […]
These appeals are filed by the assessee against the orders dated 27/9/20 16 u/s 12AA of the Income Tax Act, 1961 & order dated 28/9/20 16 u/s 80 G(5) (vi) of the Income Tax Act, 1961 passed by the Commissioner of Income Tax (Exemptions), Chandigarh.
A issue being a debatable issue at the point of time when the assessee filed its return of income penalty levied under section 271(1)(c) on that count cannot be sustained, mere fact that the addition has been made or confirmed does not per se lead to imposition of penalty
If a particular accounting system has been followed and accepted and there is no acceptable reason to differ with it, the doctrine of consistency would come into play; the method of accounting cannot be rejected.
Production loss depends on number of factors and in absence of any comparable to show that loss shown by the assessee is excessive, the contention of the assessee has to be accepted
In re Prajapati Developers (GST AAR Maharashtra) Issue- Whether the construction services provided under the project “Prajapati Magnum” qualifies for the reduced CGST Rate of 6% as provided in SI. No 3 – item (v)- sub item (da) vide Notification 01/1018- CT (Rate) dated 25.01.2018? Held by Authority For Advance Ruling Low cost houses up […]
This appeal filed by the revenue is directed against the order of Ld. CIT(Appeals) – 19, Kolkata dated 05.03.2014 and in the solitary ground raised therein, the revenue has challenged the action of the Ld. CIT(A) in cancelling the assessment made by the A.O. under section 143(3) / 147 of the Income Tax Act, 1961 by holding the same to be invalid.
Whether free tickets given as Complimentary tickets by Kings XI Punjab for IPL Matches falls within the definition of supply under the CGST Act, 2017 and thus whether the Applicant is required to pay GST on such free tickets?; Whether the Applicant is eligible to claim Input Tax Credit (for short ITC) in respect of complimentary tickets?
It is to be understood that the appellants are not basically an agency involved with the testing and certification. In fact, it is abundantly clear that they are performing certain activities which make the truck tanks fit to be filled with LPG for further transportation.
