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CARO, 2020 deferred
Companies Fresh Start Scheme, 2020
LLP Settlement Scheme, 2020
RBI Moratorium on EMI: FREQUENTLY ASKED QUESTIONS
THE TAXATION AND OTHER LAWS (RELAXATION OF CERTAIN PROVISIONS) ORDINANCE, 2020
Order u/s 119 of The Income Tax Act, 1961 on issue of certificates for lower rate/nil deduction/collection of TDS or TCS u/s 195, 197 and 206C(9)
The Finance Bill, 2020 as passed by Lok Sabha
Finance Minister announces several relief measures relating to Statutory and Regulatory compliance matters across Sectors in view of COVID-19 outbreak
DT : Notice of Amendments To FINANCE BILL, 2020 [As introduced in Lok Sabha
DT : Extends the due-date till 31 March, 2020 for filing of ITRs/TARs in respect of UTs of Jammu and Kashmir & Ladakh
GST : Clarification in respect of appeal in regard to non-constitution of Appellate Tribunal : Circular 132
DT : Income Tax Department designates Income tax Authority before whom particulars of parent entity and alternate reporting entity to file Country-by-Country Report would be notified : Press Release

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UNION BUDGET 2020 - Highlights

GST

GSTN provides work from home access to more than 1,700 tax officers
The goods and services tax network (GSTN), the IT backbone of GST, has enabled more than 1,700 tax officers to work from their homes using a secure virtual private network (VPN)
08-Apr-2020

Exports

Fighting Covid-19: NPPA highlights DGFT notification banning Hydroxychloroquine export
The National Pharmaceutical Pricing Authority, on Monday, highlighted through its twitter account, a government order notified on April 4 that completely prohibits export of
08-Apr-2020

GST

GSTN processed 10,077 new registrations, 7,876 refunds during lockdown
GST Network on Sunday said tax officers have processed over 10,000 new registrations and about 8,000 refund applications in the first 10 days of lockdown till April 3
07-Apr-2020

PMO

President, PM, MPs to take 30% salary cut as India fights coronavirus
MPs will take a 30 per cent salary cut for a year and forego for two years funds they get to spend on their constituencies to help India fight the coronavirus pandemic
07-Apr-2020

Direct Tax

Extra time for submitting Forms 15G, 15H for FY2020-21 to avoid TDS
The Central Board of Direct Taxes (CBDT) has allowed the Form 15G/Form 15H submitted by taxpayers
06-Apr-2020

GST

GST ease amid Covid 19: E-way bill validity extended, 10% ITC deferred
The government extended the validity of e-way bills till April 30, that were set to expire between March 20 and April 15
06-Apr-2020

MoF

FinMin transfers Rs 17,287 crore to states to deal with coronavirus crisis
The Centre on Friday released Rs 17,287.08 crore to states in revenue deficit grants and state disaster response
05-Apr-2020

World Bank

After $1 billion health package, World Bank lines up more for India
The World Bank will top up the $1 billion health sector package announced on Friday for India with two more for social
05-Apr-2020

Hot News

Top Stories

GST Highlights

The High Court observed that the impugned order was passed without considering the reply and on the ground that no reply was filed, the impugned order was set aside and the proceedings were restored to the stage of show cause notice.

Great Sands Consulting (P) Ltd. v. UOI & Ors.

CGST Act, 2017 GST

Section 79 was not applicable on loss brought forward on account of depreciation, accordingly, AO was directed to allow set-off after due verification based on material facts.

Dy. CIT v. P.N. Memorial Neuro Centre & Research Ltd.

Section 79 Direct Taxes

CIT(A) failed to notice that appeal was filed originally within prescribed period of 30 days from the receipt of order of AO and wrongly took the date of deposit of self-assessment tax as date of filing of appeal whereas date of self-assessment tax payment had to be treated as the date of removal of defect in the appeal as originally filed and once defect of remittance of self-assessment tax stood removed, CIT(A) was required to adjudicate the appeal on merits

Valley Iron and Steel Co. Ltd. v. Asstt. CIT

Section 246A Direct Taxes

The petitioner was the owner of the vehicle but he failed to prove that he had no knowledge about the goods carried in the vehicle so as to discharge his burden as otherwise envisaged under the Act of 2017. In absence of discharge of burden by the owner of the vehicle, an order for release of vehicle could not be passed.

Vajid v. State of U.P.

UPGST Act, 2017 GST

Assessee’s case was not falling under clause (a) of sub-section (2) of section 159, and in such circumstances, the proceedings pursuant to the notice under section 148 issued to a dead person cannot be continued against the legal representatives, further, section 292B could not be resorted to.

Urmilaben Anirudhhasinhji Jadeja v. ITO

Section 147 Direct Taxes

Where assessee was not required to maintain any books of account and there was no mechanism to report the investment in the tax return, the said investment could not be held as undisclosed investment and more so, undisclosed income so defined in section 271AAB, therefore, investment so found in purchase of Villa could not be termed as undisclosed income within the meaning of “undisclosed income” and penalty levied thereon was liable to be set aside.

Gauri Shankar Kandoi v. Dy. CIT

Section 271AAB Direct Taxes

Since lower authority had failed to consider the provision of section 176(3A) which deals with the income from discontinued business, therefore, interest income received by assessee was to be assessed as income from business and profession, considering the provisions of section 176(3A).

Anand People Co-Op. Bank Ltd. v. DCIT

Section 14 Direct Taxes

As decided in case of Edel Commodities Limited v. DCIT [[ITA No. 3426/Mum/2016] for AY 2011-12 : 2018 TaxPub(DT) 1834 (Mum-Trib)], even though the loss had not finally crystallized if as per prudent and regular system of accounting, loss had to be accounted for then the same should be allowed under section 37(1).

Dy. CIT v. Edelweiss Commodities Services Ltd.

Section 37(1) Direct Taxes

Since assessee did not produce any sufficient documentary evidences before authorities to claim huge agricultural income earned out of small agricultural land holdings and it was concocted and fabricated by assessee, therefore, AO was justified in considering the same as income from other sources.

Parvinder Singh v. ITO

Section 57(iii) Direct Taxes

After examining the screenshots that were enclosed with the application, we observe that the MRP of Rs. 1099 shown on the screenshot, pertained to the stock of the goods carrying an MRP of Rs. 1099, which was lying with the Respondent and that the Respondent has himself stated that once the old stock was liquidated, the MRP of Rs. 1520 was updated on the website. But since the new stock carrying the MPR of Rs. 1520 had already circulated in the market, the website of the Respondent showed MRP of Rs. 1099 till July, 2018.

Rahul Sharma v. Bajaj Electricals Ltd.

Rule 129 of CGST Rules, 2017 Direct Taxes

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