CCATAX

ITAT allows LTCG Claim since Revenue failed to establish link between Transactions and Information from Intelligence Wing & SEBI Report [Read Order]

Carry Forward of Business Loss cannot be denied merely for not getting Statutory Audit / Tax Audit done: ITAT [Read Order]

One individual cannot hold two birth certificates containing different birth dates

Re-structuring of organisation or resizing of labour force not gives liberty to an employer to dispense with services of all employees

Import of Goods at Concessional Rate of Custom Duty- Automation WEF 01.03.2022

Personal Guarantors of NBFC/FSC cannot be proceeded against unless Threshold of Rs. 500 cr is Satisfied, rules NCLT [Read Order]

Taxpayer cannot be deprived of ITC for technical glitch in portal

SFIO arrests 3 from Jagat Agro Commodities Pvt. Ltd. including Auditor

Submit Letter of Undertaking (LUT) for FY 2022-23 by 31.03.2022

Powdered form of Ready to Cook Idly-Dosai Mix, Tiffin Mix, Sweet and Health Mix, Porridge Mix attracts 18% GST: AAAR [Read Order]

Relief to Aishwarya Rai Bachchan: Revisional Jurisdiction cannot be invoked on ground of an Invalid Re-Assessment by AO, says ITAT [Read Order]

Period of Tax Appeal filed before an Authority without Jurisdiction shall be excluded from Limitation Period: Delhi HC upholds Validity of Revision Petition [Read Order]

HC directs dept to consider allowing petitioner to correct Form GSTR 1 Return

Distribution of Freebies to Doctors is a regular Business Practice, Dept cannot deny decision when Claim is proved with Documents: ITAT [Read Order]

Time Limit for Re-Assessment of Escaped Income on Assets Outside India is 16 Years: ITAT restores Order against Senior Chartered Accountant [Read Order]

Commission to Agents not subject to Service Tax in the absence of Service Provider and Consideration: CESTAT [Read Order]

GST dept issues Clarifications regarding Issues relating to Incorrect Reporting of GSTR-1 and ITC Claim [Read Circular]

Dues of Secured Creditor under SARFAESI Act has priority over Central Excise Dues, rules Supreme Court [Read Order]

Supply of TCAS is Composite Supply, attracts 18% GST: AAR [Read Order]

How Will ‘Russia’s Invasion of Ukraine’ Affect Taxes & Trade in India?

GST E-Invoice mandatory for entities having Turnover of Rs. 20 Crores: CBIC reduces threshold limit [Read Notification]

GST Dues: Personal Properties of a Partner of LLP can’t be Attached, says Gujarat HC [Read Order]

Information from Property Broker Firms and Websites cannot be relied upon to determine adequacy of Rent received for invoking Sec 13(2)(b) of Income Tax Act: Delhi High Court [Read Judgment]

Cryptocurrency – Virtual Digital Asset

DRI are not a competent authority to issue SCN : Rajasthan HC

AO cannot reopen an assessment even within a period of 4 years merely on the basis of a change of opinion

CA Exams May 2022: ICAI opens Online filling up of Examination Application Forms, Know Important Dates

Deduction allowable to Loss on Investment in Subsidiary made to Boost Sales: ITAT [Read Order]

NCLAT allows exclusion of 90 days from the CIRP

No Service Tax on amount recovered as Liquidated Damages

Mere failure to pay tax will not constitute offence under Section 276C(2)

Unregistered Association of Persons formed by Agreement merging Two Charitable Trusts eligible for Income Tax Exemption: ITAT [Read Order]

Mandatory Legal Obligations for Companies in India

GST: Fixed Establishment – Conundrum of People, Place & Things

Comparative Analysis of Companies Act, 2013 & Companies Act, 1956

GST on installation of Fire Fighting System

Order passed within time, but communicated late, cannot dilute the validity of an order

Bombay HC restores SVLDRS Declaration Forms, remands for fresh decision by treating it as Valid Declarations under ‘Voluntary Disclosure’ Category [Read Order]

Short Summary on Ind AS 116 – Leases

Uniform Customs and Practice For Documentary Credits (UCP)

HC disposes appeal as Assessee availed benefit under Direct Tax Vivad Se Vishwas Act, 2020

GSTN cannot avoid giving effect to Court order by giving excuse of technical glitches

ITAT Weekly Round Up

HSN mentioned by supplier is just a base, imported goods can be classified under any other appropriate HSN

Concessional Rates of Income Tax @ 22% for Companies in India

GST on Services provided in Theme Park & Museum

Relief to Bombay Dyeing: Bombay HC quashes 16 years SCN has not been Adjudicated [Read Order]

Exclusive Jurisdiction of Mact In Motor Accident Cases

Taxation MTM (Marked to Market) Loss on Forward Contracts as per ICDS & Income Tax Act

Steps to Troubleshoot Errors When Using DSC