Clipped from: https://taxguru.in/income-tax/exemption-u-s-54-extent-non-deposit-unutilized-amount-capital-gain-account-scheme-available.html Ramalingam Nagarajan Vs ITO (ITAT Chennai) ITAT Chennai held that exemption under section 54 of the Income Tax Act not allowable to the
👍👍👍👍👍Tax liability on Composite & Mixed Supply under GST act 2017
Clipped from: https://taxguru.in/goods-and-service-tax/tax-liability-composite-mixed-supply-gst-act-2017.html In this article provisions regarding levy of tax on composite supply and mixed supply are discussed. Levy of GST on supply of goods
👍👍👍👍👍Taxation of taxpayers opting for presumptive taxation schemes
Clipped from: https://taxguru.in/income-tax/taxation-taxpayers-opting-presumptive-taxation-schemes.html To give benefit to small taxpayers from the exhausting job of maintaining books of account and getting the accounts audited, the Income-tax Act
👍👍👍👍👍Mere ‘reason to believe’ not satisfy condition for reopening of assessment
Clipped from: https://taxguru.in/income-tax/mere-reason-believe-satisfy-condition-reopening-assessment.html Punia Capital Pvt. Ltd Vs ACIT (Bombay High Court) The Hon’ble Bombay High Court in Punia Capital Pvt. Ltd. v. the Assistant Commissioner of
👍👍👍👍👍How NRI can save TDS on selling immovable property in India
Clipped from: https://taxguru.in/income-tax/nri-save-tds-selling-immovable-property-india.html Are you an NRI facing huge TDS on sale of your immovable property located in India? If yes, this article is for you
👍👍👍Revenue department cannot go beyond scope of SCN to create new ground at adjudication stage
Clipped from: https://taxguru.in/goods-and-service-tax/revenue-department-scope-scn-create-ground-adjudication-stage.html CJ Darcl Logistics Limited Vs Union of India Represented Through The Secretary (Jharkhand High Court) The Hon’ble Jharkhand High Court in M/s. CJ Darcl
👍👍👍GST Law in India
Clipped from: https://taxguru.in/goods-and-service-tax/gst-law-india.html GST is an indirect tax reform which attempts to create a common national market. GST has replaced multiple indirect taxes like excise duty,
👍👍👍👍👍Study on MSME – A Game Changer
Clipped from: https://taxguru.in/income-tax/study-msme-game-changer.html Introduction All Business Enterprises, whether commercial or non-commercial, commence their activities in a bootstrapped manner. Over the years, with their vision, persistent conviction,
👍👍👍GST: HC directs revenue to provide opportunity of hearing to ensure natural justice
Clipped from: https://taxguru.in/goods-and-service-tax/gst-hc-directs-revenue-provide-opportunity-hearing-ensure-natural-justice.html Mohan Agencies Vs State of U.P. and Another (Allahabad High Court) Providing opportunity of hearing ensures natural justice and allows Revenue Department to
👍👍👍Provisions Relating To TDS/TCS in Budget 2023
Clipped from: https://taxguru.in/income-tax/provisions-relating-tds-tcs-budget-2023.html TDS and Taxability of winning from online Games: With the technological advancement and rise of mobile and internet connectivity, a number of on
👍👍👍Amendments by Finance Act, 2023 related to Tax on Capital gain
Clipped from: https://taxguru.in/income-tax/amendments-finance-act-2023-related-tax-capital-gain.html Article explains Amendment made by Finance Act, 2023 with regard to some provisions under the head Capital gain which incudes amendment in Section 54, Section
GST on supply of ready to eat and ready to cook food products
Clipped from: https://taxguru.in/goods-and-service-tax/gst-supply-ready-eat-ready-cook-food-products.html In re SATS Food Solutions India Private Limited (GST AAR Karnataka) The applicant is engaged in the business of manufacture/production and supply of
👍👍👍RCM Liability under GST on Purchases From Unregistered Persons
Clipped from: https://taxguru.in/goods-and-service-tax/rcm-liability-gst-purchases-unregistered-persons.html Though it has been more than 5 years of completion of GST and government has left no stone unturned to celebrate the successful
👍👍👍Reopening of assessment without any new tangible material is unsustainable
Clipped from: https://taxguru.in/income-tax/reopening-assessment-new-tangible-material-unsustainable-law.html Tahnee Heights CHS Ltd. Vs ITO (Bombay High Court) Bombay High Court held that assessment order was passed after post considering the submission
👍👍👍Addition based on mere statement without independent finding is unsustainable
Clipped from: https://taxguru.in/income-tax/addition-based-mere-statement-without-independent-finding-unsustainable-law.html Ganesh Ginning Factory Vs ACIT (ITAT Ahmedabad) ITAT Ahmedabad held that addition on the basis of statement of director without independent finding given
👍👍👍Reopening of assessment on the basis of change of opinion is untenable
Clipped from: https://taxguru.in/income-tax/reopening-assessment-basis-change-opinion-untenable.html Bharat Amratlal Shah Vs ITO (Bombay High Court) Bombay High Court held that reopening of assessment on the basis of change of opinion
👍👍👍Exemption u/s 54F available towards purchase of residential property one year before the sale of capital asset
Clipped from: https://taxguru.in/income-tax/exemption-u-s-54f-available-towards-purchase-residential-property-one-year-before-sale-capital-asset.html Akshay Janak Shah Vs CIT (ITAT Mumbai) ITAT Mumbai held that purchase of residential property within specified period of one year before the
👍👍👍Tax Liability of a Non Resident Indian (NRI)
Clipped from: https://taxguru.in/income-tax/tax-liability-resident-indian-nri.html In India, the tax liability of any individual is based on his residential status. There are three types of residential status under Income
RCM One Case Study- Is There Any Solution
Clipped from: https://taxguru.in/goods-and-service-tax/rcm-case-study-solution.html X & Company during the Financial Year has following sales amount for his mining business :- Table-1 TURNOVER SGST @5% CGST@5% 1,00,00,000.00 2,50,000.00
Reopening of assessment unsustainable in absence of any failure on part of assessee
lipped from: https://taxguru.in/income-tax/reopening-assessment-unsustainable-absence-failure-part-assessee.html Mumbai Postal Employees Co-operative Credit Society Ltd Vs ITO (Bombay High Court) Bombay High Court held that failure on the part of assessee
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