A Rs 10.6 lakh crore tax problem that Budget 2023 needs to fix https://economictimes.indiatimes.com/news/economy/policy/budget-has-to-fix-indian-taxpayers-nagging-dispute-management-issue-for-real/articleshow/96808764.cms Download Economic Times App to stay updated with Business News –
Day: January 7, 2023
AO cannot travel beyond selected reasons for limited scrutiny
lipped from: https://taxguru.in/income-tax/ao-travel-selected-reasons-limited-scrutiny.html Duckwoo Autoind Pvt. Ltd. Vs PCIT (ITAT Chennai) ITAT Chennai held that it is not open for the Assessing Officer to travel beyond
RCM on supply of Security Services
Clipped from: https://taxguru.in/goods-and-service-tax/rcm-supply-security-services.html Reverse Charge Liability on supply of security services (security personnel) Reverse charge mechanism (RCM) basically imposes the obligation on the recipient of services
Date of service and not dispatch is to be considered for period of limitation
lipped from: https://taxguru.in/excise-duty/date-service-dispatch-considered-period-limitation.html Shree Cement Limited Vs Commissioner Central Excise & CGST (CESTAT Delhi) CESTAT Delhi held that period of limitation should be calculated from the
High Court rules on Advance Payment to claim section 54 Exemption***
Clipped from: https://taxguru.in/income-tax/high-court-rules-advance-payment-claim-section-54-exemption.html Madras High Court in Moturi Lakshmi vs ITO in Tax Case Appeal No.181 Of 2019 on 17 August 2020 issued its decision that where an
Update Return under section 139(8A)
Clipped from: https://taxguru.in/income-tax/update-return-section-139-8a.html Updated Return Under Income Tax Act,1961 Q1. What was the main Objective of introduce the Updated Return & how its helps to the taxpayers?
Will Vs. Gift Deed? Which is the right way to pass on your property
Clipped from: https://timesproperty.com/news/post/will-vs-gift-deed-blid2549 Estate planning is essential to minimise any issues that may arise at a future date with regards to both, immovable and movable property.
प्रॉपर्टी गिफ्ट डीड, नातेवाईकांना भेट दिलेली मालमत्ता परत घेऊ शकता का? जाणून घ्या प्रॉपर्टी गिफ्ट करण्याचा नियम आणि प्रक्रिया – registered gift deed can be revoked know rules and procedure for gifting property – Maharashtra Times
Clipped from: https://maharashtratimes.com/business/business-news/registered-gift-deed-can-be-revoked-know-rules-and-procedure-for-gifting-property/articleshow/94263239.cms Registered Gift Deed: कायदेशीररित्या, भेटमध्ये मिळालेली मालमत्ता काढून घेतली जाऊ शकत नाही. पण हे काही अपवादात्मक परिस्थितीत होऊ शकते. साधारणतः एखादी व्यक्ती जवळच्या
Senior Citizen Transferring Property; पालकांनो, तुमची संपत्ती मुलांच्या नावावर करताय, सर्वोच्च न्यायालयाचा हा निर्णय एकदा वाचाच | Maharashtra Times
Clipped from: https://maharashtratimes.com/india-news/when-gifting-assets-write-kids-must-look-after-you-sc/articleshow/96079386.cms Transfer of Property to Children: डोळे झाकून मुलांवर विश्वास ठेवणाऱ्या पालकांसाठी सर्वोच्च न्यायालयाने मोलाचा सल्ला दिला आहे. मुलांच्या नावे संपत्ती करताना वयोवृद्ध पालकांनी
Section 54F exemption allowed despite non-completion of construction as assessee invested the entire net consideration
Clipped from: https://taxguru.in/income-tax/section-54f-exemption-allowed-despite-non-completion-construction-assessee-invested-entire-net-consideration.html CIT Vs Sardarmal Kothari (Madras High Court) There is no dispute about the fact that the assessees have invested the entire net consideration
Re-assessment proceedings against dissolved entity is unsustainable
Clipped from: https://taxguru.in/income-tax/re-assessment-proceedings-dissolved-entity-unsustainable.html Pranshu Buildwell LLP Vs ITO (Delhi High Court) Delhi High Court of the petitioner is that the impugned proceedings for reassessment have been
GST Refund claim By Unregistered Person
lipped from: https://taxguru.in/goods-and-service-tax/gst-refund-claim-unregistered-person.html Circular No 188/20/2022-GST, Dated: 27.12.2022 Circumstances where unregistered person can claim refund of GST paid: – 1. Construction Contracts: – Where an unregistered buyer who
No TDS applicable on Payment of Interest to its Member by Co-operative Bank: ITAT
lipped from: https://www.taxscan.in/no-tds-applicable-on-payment-of-interest-to-its-member-by-co-operative-bank-itat/241442/ The Bangalore bench of the Income Tax Appellate Tribunal ( ITAT ) has held that TDS is not applicable in respect of payment of interest to its
Sale of Entire Business amounts to Slump Sale, Taxable under Capital Gain: ITAT
Clipped from: https://www.taxscan.in/sale-of-entire-business-amounts-to-slump-sale-taxable-under-capital-gain-itat/241355/ The Bangalore bench of the Income Tax Appellate Tribunal (ITAT) has held that the sale of an Entire business amounts to a slump
Depositing Unutilized Capital Gain in Deposit Account Scheme: ITAT grants Capital Gain Exemption
Clipped from: https://www.taxscan.in/depositing-unutilized-capital-gain-in-deposit-account-scheme-itat-grants-capital-gain-exemption/241026/ The Chennai Bench of the Income Tax Appellate Tribunal (ITAT), granted exemption under Section 54 of the Income Tax Act, 1961 (capital gain exemption) on depositing unutilized
Completion of assessment based on notices served to e-mail address of dissolved firm is unsustainable
Clipped from: https://taxguru.in/income-tax/completion-assessment-based-notices-served-e-mail-address-dissolved-firm-unsustainable.html P.A. Logistics Vs The Additional (Kerala High Court) Kerala High Court held that completion of the assessment on the basis of best judgment
HC quashes Reassessment order passed without Considering Objections of Assessee
Clipped from: https://taxguru.in/income-tax/hc-quashes-reassessment-order-passed-considering-objections-assessee.html Kailash Kedia Vs ITO (Orissa High Court) Learned counsel for the Petitioners have also assailed both the notice under Section 148-A(1)(b) of the
‘Sufficient Cause’ is the cause for which a party could not be blamed: SC
Clipped from: https://taxguru.in/corporate-law/sufficient-cause-cause-party-blamed-sc.html Sabarmati Gas Limited Vs Shah Alloys Limited (Supreme Court of India) Whether in computation of the period of limitation in regard to an
Section 154 of Income Tax Act: Rectification of Mistake & Section 155: Other Amendments*******
Clipped from: https://taxguru.in/income-tax/section-154-rectification-mistake-section-155-amendments.html Apeksha Gupta Sometimes there may be a mistake in any order passed by the Assessing Officer. In such a situation, mistake which is “apparent
Maharera–Useful Information
clipped from: https://maharerait.mahaonline.gov.in/PDF/FAQMergedPDF.pdf 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16
aniltikotekar4sme.com 