Clipped from: https://www.taxscan.in/reassessment-proceedings-initiated-without-documentary-evidence-and-based-on-borrowed-satisfaction-itat-quashes-proceedings/521001/ The Delhi Bench of Income Tax Appellate Tribunal ( ITAT ),quashed reassessment proceedings initiated without any documentary evidence and based solely on borrowed satisfaction. The Revenue-appellant appealed
*******CPC cannot continue to Rectify and Re-rectify intimation u/s 143(1)(a) of Income Tax Act Repeatedly: Delhi HC [Read Order]
Clipped from: https://www.taxscan.in/cpc-cannot-continue-to-rectify-and-re-rectify-intimation-u-s-1431a-of-income-tax-act-repeatedly-delhi-hc/520944/ The repeated use of rectification powers, without due consideration of earlier corrective actions, was deemed improper. This aspect was not considered by the
*******Playing cards without gambling doesn’t involve moral turpitude: SC | India News – Business Standard
Clipped from: https://www.business-standard.com/india-news/playing-cards-without-gambling-doesn-t-involve-moral-turpitude-sc-125052500238_1.html The Supreme Court ruled that playing cards for fun without gambling doesn’t involve moral turpitude, reinstating Hanumantharayappa YC’s election in Karnataka’s cooperative society
*******Reassessment order set aside as passed without disposal of objections: Karnataka HC
Clipped from: https://taxguru.in/income-tax/reassessment-order-set-passed-disposal-objections-karnataka-hc.html Hewlett Packard Financial Services (India) Pvt Ltd Vs DCIT (Karnataka High Court) Karnataka High Court held that reassessment order under section 148 of
*******Reopening u/s. 148 beyond 4 years quashed as material facts fully & truly disclosed: ITAT Raipur
Clipped from: https://taxguru.in/income-tax/reopening-u-s-148-4-years-quashed-material-facts-fully-disclosed-itat-raipur.html Pradeep Kumar Agrawal Vs ITO (ITAT Raipur) ITAT Raipur held that reopening of proceedings under section 148 of the Income Tax Act beyond
*******ITC Eligibility: Section 16(2) vs. 16(5) CGST Act
lipped from: https://taxguru.in/goods-and-service-tax/itc-eligibility-section-162-vs-165-cgst-act.html Introduction The question raised presents a critical legal and administrative dilemma regarding the interplay between the basic eligibility conditions for Input Tax Credit
*******Don’t File Your ITR Without Reconciling AIS &; TIS — Here’s Why?
Clipped from: https://taxguru.in/income-tax/donaet-file-itr-reconciling-ais-tis-aehereaes-why.html Introduction It’s ITR season again, and many taxpayers are logging in to find something new on their Income Tax portal — AIS (Annual Information
*******ITC on Inputs for Destroyed Goods Reversible: Telangana AAAR
Clipped from: https://taxguru.in/goods-and-service-tax/itc-inputs-destroyed-goods-reversible-telangana-aaar.html ITC availed on inputs used in the manufacture of finished goods that subsequently got destroyed, must be reversed: Telangana AAAR The Telangana AAAR,
***Taxation of Gifts and Zero Rating of Gift Transactions In The Hands of Individual
Clipped from: https://taxguru.in/income-tax/taxation-gifts-rating-gift-transactions-hands-individual.html Section 56(2)(x) of the Income Tax Act, 1961, is a wide-ranging anti-abuse provision aimed at taxing gifts and property transfers; received without consideration
***Section 50C addition without referring to Valuation Officer not sustainable: ITAT Ahmedabad
Read more at: https://taxguru.in/income-tax/50c-addition-referring-valuation-officer-sustainable-itat-ahmedabad.htmlCopyright © Taxguru.in Clipped from: https://taxguru.in/income-tax/50c-addition-referring-valuation-officer-sustainable-itat-ahmedabad.html Mohammedaarif Yunusbhai Patel Vs ITO (ITAT Ahmedabad) ITAT Ahmedabad held that addition invoking provisions of section 50C(2) of
Appealing Cancellation of GST Registration, Find Draft Reply here!
Clipped from: https://www.taxscan.in/filing-appeal-revocation-cancellation-of-gst-registration-intent-importance-purposes/469454/ The cancellation of GST registration can have significant repercussions for businesses, affecting their operational continuity and legal compliance. It often arises due to
*******Received GST SCN under Section 16(4)? Here’s What to Do [Find Draft Format Here]
Clipped from: https://www.taxscan.in/received-gst-scn-under-section-164-heres-what-to-do-find-draft-format-here/481746/ When addressing a Show Cause Notice (SCN) issued under Section 16(4) of the CGST Act, 2017, it is vital to craft a clear and legally
Adjournment against GST SCN: Find Draft Format
Clipped from: https://www.taxscan.in/seeking-adjournment-against-a-gst-show-cause-notice-find-draft-format-here/478956/ A Show-Cause Notice (SCN) is an essential instrument used by the revenue authorities under the Goods and Services Tax (GST) framework to initiate
*******ITC Reversal w/out E-Invoice: Draft Reply to SCN
Clipped from: https://www.taxscan.in/reversal-of-itc-in-the-absence-of-e-invoice-how-to-draft-reply-towards-show-cause-notice/458188/ The Input Tax Credit ( ITC ) mechanism is a cornerstone of the Goods and Services Tax ( GST ) regime in India.
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