https://taxguru.in/income-tax/reassessment-u-s-153a-requires-incriminating-material-delhi-hc.html Clipped from: https://taxguru.in/income-tax/reassessment-u-s-153a-requires-incriminating-material-delhi-hc.html ACIT Vs Saluja Construction Co. Ltd (Delhi High Court) Introduction: In a recent case, the Delhi High Court addressed the critical issue of
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No Penalty if no inaccurate Reporting and no Concealment by Assessee
https://taxguru.in/income-tax/penalty-inaccurate-reporting-concealment-assessee.html Clipped from: https://taxguru.in/income-tax/penalty-inaccurate-reporting-concealment-assessee.html CIT Vs Standard Chartered Grindlays Pty Ltd (Delhi High Court) Introduction: The recent decision by the Delhi High Court in the case of
Non-Consideration of Reply Violates Natural Justice; HC Grants Opportunity of Hearing
https://taxguru.in/goods-and-service-tax/gst-non-consideration-reply-violates-natural-justice-hc-grants-opportunity-hearing.html Clipped from: https://taxguru.in/goods-and-service-tax/gst-non-consideration-reply-violates-natural-justice-hc-grants-opportunity-hearing.html Daksh Enterprise Vs Commissioner Of State Tax (Gujarat High Court) Introduction: In a recent judgment, the Gujarat High Court addressed a critical issue
Goods Sent out of India on Approval basis does not Attract IGST at Time of Re-import : CESTAT Quashes Customs Duty Demand
Clipped from: https://www.taxscan.in/goods-sent-out-of-india-on-approval-basis-does-not-attract-igst-at-time-of-re-import-cestat-quashes-customs-duty-demand/341529/ The New Delhi bench of the Customs, Excise and Service Tax Appellate Tribunal (CESTAT) held that the goods sent out of India on an approval
GST Rule 42 and 43: Reversal of Input Tax Credit
https://taxguru.in/goods-and-service-tax/gst-rule-42-43-reversal-input-tax-credit.html Clipped from: https://taxguru.in/goods-and-service-tax/gst-rule-42-43-reversal-input-tax-credit.html In the realm of Goods and Services Tax (GST), businesses navigate the intricacies of Input Tax Credit (ITC) and its reversal under
Income Tax Reassessment Requires valid service of Section 148 Notice
https://taxguru.in/income-tax/income-tax-reassessment-requires-valid-service-section-148-notice.html Clipped from: https://taxguru.in/income-tax/income-tax-reassessment-requires-valid-service-section-148-notice.html PCIT Vs Madhu Gupta (Delhi High Court) Introduction: A recent judgment by the Delhi High Court in the case of PCIT vs. Madhu
Discard ITR Option: All You Need to Know
Clipped from: https://www.taxscan.in/discard-itr-option-all-you-need-to-know/347309/ By Manu Sharma – On November 28, 2023 10:47 am – 3 mins read The Income Tax Portal now allows users to discard the Income Tax Returns (ITRs) filed
Difference Between TCS and TDS: A Critical Analysis
Clipped from: https://www.taxscan.in/difference-between-tcs-and-tds-a-critical-analysis/349547/?utm_source=izooto&utm_medium=push_notifications&utm_campaign=Difference%20Between%20TCS%20and%20TDS:%20A%20Critical%20Analysis INTRODUCTION TDS stands for Tax Deducted at Source. It is the tax amount that the government collects directly from the recipient’s income immediately
GST Taxpayers Exceeding 5 crores AATO must Include 6-Digit HSN in E-invoices from Dec 15, 2023
Clipped from: https://www.taxscan.in/important-update-gst-taxpayers-exceeding-5-crores-aato-must-include-6-digit-hsn-in-e-invoices-from-dec-15-2023/349822/?utm_source=izooto&utm_medium=push_notifications&utm_campaign=Important%20Update:%20GST%20Taxpayers%20Exceeding%205%20crores%20AATO%20must%20Include%206-Digit%20HSN%20in%20E-invoices%20from%20Dec%2015,%202023 From December 15, 2023, the GST e-invoice system mandates a minimum 6-digit HSN code for taxpayers with an Annual Aggregate Turnover (AATO) exceeding
Notice for reopening of assessment issued on last date of limitation period is valid
https://taxguru.in/income-tax/notice-reopening-assessment-issued-date-limitation-period-valid.html Clipped from: https://taxguru.in/income-tax/notice-reopening-assessment-issued-date-limitation-period-valid.html Raminder Singh Vs ACIT (Delhi High Court) Delhi High Court held that notice for reopening of assessment issued u/s. 148 of the
Deduction u/s 80P(2)(d) was allowable on interest income received from Co-Operative Bank
https://taxguru.in/income-tax/deduction-u-s-80p-2-d-allowable-interest-income-received-co-operative-bank.html Clipped from: https://taxguru.in/income-tax/deduction-u-s-80p-2-d-allowable-interest-income-received-co-operative-bank.html Thorapadi Urban Co-op Credit Society Limited Vs ITO (Madras High Court) Conclusion: Deduction under section 80P(2)(d) was allowable on receipt of interest from
Concerns about Displayed Financial Transactions in AIS? Income Tax Dept Assures Source Authentication
Clipped from: https://www.taxscan.in/concerns-about-displayed-financial-transactions-in-ais-income-tax-dept-assures-source-authentication/343647/ The Income Tax Department, using the platform ‘X,’ formerly recognized as ‘Twitter,’ has provided a guarantee of source authentication/e-verification in response to any
Service Tax Demand without Specification of Service Category in SCN : CESTAT Quashes Demand
Clipped from: https://www.taxscan.in/service-tax-demand-without-specification-of-service-category-in-scn-cestat-quashes-demand/343818/ The Chennai Bench of the Customs, Excise and Service Tax Appellate Tribunal (CESTAT) quashed the service tax demand which does not specify the service category
Reopening of assessment u/s 148 unjustified as all material facts fully disclosed
https://taxguru.in/income-tax/reopening-assessment-u-s-148-unjustified-material-facts-fully-disclosed.html Clipped from: https://taxguru.in/income-tax/reopening-assessment-u-s-148-unjustified-material-facts-fully-disclosed.html S. Uttam Chand Vs ACIT (Madras High Court) Madras High Court held that reopening of assessment u/s 148 of the Income Tax
Order cannot be deemed to be served in absence of proof of delivery
https://taxguru.in/service-tax/order-deemed-served-absence-proof-delivery.html Clipped from: https://taxguru.in/service-tax/order-deemed-served-absence-proof-delivery.html Shri Surya Prakash Gaur Vs Commissioner, Central Excise (CESTAT Delhi) Service of order by Speed Post cannot be deemed to be served
Reopening on ‘Borrowed Satisfaction’ Instead of ‘Independent Satisfaction’ is Unlawful
https://taxguru.in/income-tax/reopening-based-borrowed-satisfaction-independent-satisfaction-bad-in-law.html Clipped from: https://taxguru.in/income-tax/reopening-based-borrowed-satisfaction-independent-satisfaction-bad-in-law.html Paresh Babubhai Bahalani Vs ITO (Gujarat High Court) Gujarat High Court held that reopening of assessment under section 147 of the Income
10-Year Extended Limitation Period Applies to Escaped Amounts Exceeding 50 Lakhs: Delhi HC quashes Reassessment Notice
Clipped from: https://www.taxscan.in/10-year-extended-limitation-period-applies-to-escaped-amounts-exceeding-50-lakhs-delhi-hc-quashes-reassessment-notice-read-order/345322/ A Division bench of the Delhi High Court, comprising Justice Rajiv Shakdher and Justice Girish Kathpalia, in the course of deciding a writ
Extended Period Demand Unsustainable as Scrutiny Should Have Been Timely
https://taxguru.in/service-tax/extended-period-invocable-demand-based-records-scrutinized-time-limit.html Clipped from: https://taxguru.in/service-tax/extended-period-invocable-demand-based-records-scrutinized-time-limit.html Right Resource Management Service Vs Commissioner of Central Goods And Service Tax (CESTAT Delhi) CESTAT Delhi held that demand invoking extended period
Invalid Service Tax Demand: Form 26AS Basis, No Investigation
https://taxguru.in/service-tax/service-tax-demand-based-form-26-income-tax-department-investigation-invalid.html Clipped from: https://taxguru.in/service-tax/service-tax-demand-based-form-26-income-tax-department-investigation-invalid.html Piyush Sharma Vs Commissioner of CGST & CX (CESTAT Kolkata) The CESTAT, Kolkata in M/s. Piyush Sharma v. Commissioner of CGST & CX,
Mere suppression of facts not enough for invoking extended period of limitation
https://taxguru.in/service-tax/mere-suppression-facts-enough-invoking-extended-period-limitation.html Clipped from: https://taxguru.in/service-tax/mere-suppression-facts-enough-invoking-extended-period-limitation.html Dinesh Chandra R Agarwal Infracon Pvt Ltd Vs Commissioner of CGST & C.Ex – Gandhinagar (CESTAT Ahmedabad) CESTAT Ahmedabad held that mere
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