MCS Bare Act and Rules (1)_220721_123100
Category: Study
👍👍👍Denial of exemption u/s 80P of Income Tax Act just because of belated filing of return not justifiable
Clipped from: https://taxguru.in/income-tax/denial-exemption-u-s-80p-income-tax-act-because-belated-filing-return-justifiable.html Ambaradi Seva Sahkari Mandali Ltd. Vs DCIT (CPC) (ITAT Rajkot) ITAT Rajkot held that denying the exemption under Section 80P of the Income
👍👍👍Orders passed without affording adequate personal hearing are quashed for fresh consideration
Clipped from: https://taxguru.in/goods-and-service-tax/orders-passed-affording-adequate-personal-hearing-quashed-fresh-consideration.html Murugan Electrical Stores Vs Assistant Commissioner (ST) (FAC) (Madras High Court) Madras High Court held that as the personal hearing has not been
👍👍👍GST: Granting of personal hearing mandatory where an adverse decision is taken by AO
Clipped from: https://taxguru.in/goods-and-service-tax/granting-personal-hearing-per-section-754-mandatory-adverse-decision-taken-by-ao.html Gayathri Agencies Vs State Tax Officer (Madras High Court) Madras High Court held that as per provisions of section 75(4) of the GST
👍👍👍👍👍Provisions for rent is governed by Section 194I & CAM charges by Section 194C
Clipped from: https://taxguru.in/income-tax/provisions-rent-governed-section-194-i-cam-charges-section-194c.html PVR Ltd. Vs ACIT (ITAT Delhi) ITAT Delhi held that determination of the rent or CAM are separate and the CAM arrangements are
👍👍👍👍👍👍👍How To Register Legal Heir on Income Tax Portal?
Clipped from: https://taxguru.in/income-tax/register-legal-heir-income-tax-portal.html Death is uncertain but sure. After demise if taxpayer, legal heir is the person who takes control over all the assets and liabilities.
👍👍👍👍👍Motor Accident Claim: Tyre Burst is not an ‘Act of God’ & Insurance Company is liable to pay Compensation
Clipped from: https://taxguru.in/corporate-law/motor-accident-claim-tyre-burst-act-god-insurance-company-liable-pay-compensation.html New India Assurance Co. Ltd. Vs Smt. Mrunal Makarand Patwardhan (Bombay High Court) It is common knowledge that the Insurance Companies do not
👍👍👍👍👍👍👍Analysis of Summary Assessment under GST Act 2017
Clipped from: https://taxguru.in/goods-and-service-tax/analysis-summary-assessment-gst-act-2017.html Summary assessment is in the nature of protective assessment. It is procedure where quick and fast assessment of tax liability is made. Section
👍No Restriction for GST Registration For Professional on Residential Address
Clipped from: https://taxguru.in/goods-and-service-tax/restriction-gst-registration-professional-residential-address.html GOVERNMENT OF INDIAMINISTRY OF FINANCEDEPARTMENT OF REVENUERAJYA SABHAUNSTARRED QUESTION No. 1488ANSWERED ON 14/03/2023 GST NUMBER TO PROFESSIONALS WORKING FROM HOME 1488. Shri Naranbhai
👍👍👍👍👍👍👍AO cannot shift burden on assessee to explain recipient of inadvertent receipts shown in 26AS
Clipped from: https://taxguru.in/income-tax/ao-shift-burden-assessee-explain-recipient-inadvertent-receipts-shown-26as.html Travelport LP Vs DCIT (ITAT Delhi) ITAT Delhi held that AO cannot put the entire burden on the assessee to show in whose
👍👍👍👍👍HC set aside Section 148A(d) order passed without considering reply
Clipped from: https://taxguru.in/income-tax/hc-set-aside-section-148ad-order-passed-considering-reply.html Ashok Kumar Garg Vs ACIT (Delhi High Court) According to the petitioner, although the amount of alleged bogus purchase bills has been quantified
👍👍👍👍👍👍👍MSME Registration Benefits – Tax and Others
Clipped from: https://taxguru.in/corporate-law/msme-registration-benefits-tax.html MSME registration helps the Micro, Small and Medium (MSME) industries to obtain various benefits provided by the government for their growth. In a
👍👍👍👍👍Without Suppression of Facts or Fraud Extended Period of Limitation cannot be invoked
Clipped from: https://taxguru.in/excise-duty/suppression-facts-fraud-extended-period-limitation-invoked.html Mangalore Refinery And Petrochemicals Ltd. Vs Commissioner Of Central Excise & Central Tax (CESTAT Bangalore) CESTAT find force in the submissions made by
👍👍👍👍👍👍👍Exemptions from Capital Gain under Income Tax act, 1961
Clipped from: https://taxguru.in/income-tax/exemptions-capital-gain-income-tax-act-1961.html Gist of Section 45: Any Profit or gain arising from the transfer of Capital asset is taxable as a Capital Gain u/s 45
👍👍👍👍👍👍👍Input Tax Credit under CGST Act, 2017
lipped from: https://taxguru.in/goods-and-service-tax/input-tax-credit-cgst-act-2017.html What is Input Tax Credit as per CGST Act?. From the combined reading of sections 2(62) and 2(63) we understand that tax paid
👍👍👍👍👍👍👍Reopening of Assessments Section 147 w.e.f. 01.04.2021
Clipped from: https://taxguru.in/income-tax/reopening-assessments-section-147-w-e-f-01-04-2021.html The Finance Act, 2021 had changed the law applicable to the reopening of assessments with effect from 1st April, 2021. Relevant sections are sections 147 to
👍👍👍Income Tax Return Filed by A Co-op Society after due Date is invalid – 80P Deduction not allowed: Kerala HC,
Clipped from: https://taxguru.in/income-tax/income-tax-return-filed-coop-society-due-date-invalid-80p-deduction-allowed-kerala-hc.html Nileshwar Range Kallu Chethu Vyavasaya Thozhilali Sahakarana Sangham Vs CIT (Kerala High Court) Disposing an IT Appeal in M/s. Nileshwar Range Kallu Chethu Vyavasaya
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