Furnace Industry unhappy over GST snub in Punjab
The furnace industry is enraged over the GST council ignoring their demand of reducing the GST on scrap from 18%…
Month: February 2023
Providing opportunity of hearing ensures natural justice and allows Revenue Department to pass appropriate orders
The Hon’ble Allahabad High Court in M/s Mohan Agencies v. State of U.P. And Another [Writ Tax No. 58 of…
Notice issued without sufficient reasons to initiate reassessment is not sustainable
The Hon’ble Bombay High Court in B.U. Bhandari Autolines Pvt. Ltd. v. The Assistant Commissioner of Income Tax, And Ors.…
Revenue department cannot go beyond the scope of SCN to create new ground at the stage of adjudication
The Hon’ble Jharkhand High Court in M/s. CJ Darcl Logistics Limited v. Union of India [W.P.(T) No. 215 of 2022…
Vivad Se Vishwas Scheme 2: Centre likely to initiate penalty settlement for pharma firms
The Union government is likely to initiate the settlement of cases initiated by the National Pharmaceutical Pricing Authority (NPPA) for…
Notification No. G.S.R. 118(E) dt 21.02.23 -Income Tax
CBDT vide Notification No. 7/2023 dated 21.02.2023 notified new Forms 10B and 10BB that are required to be furnished by…
Bogus invoices row: GST authorities summon insurance intermediaries
Widening its probe in the bogus invoicing case against insurance intermediaries and aggregators, the Goods and Services Tax (GST) authorities…
Mere ‘reason to believe’ do not satisfy the condition for re-opening of the assessment
The Hon’ble Bombay High Court in Punia Capital Pvt. Ltd. v. the Assistant Commissioner of Income Tax and Ors. [Writ…
Penalty not leviable if there is reasonable cause for failure to get accounts audited
The ITAT, Chennai in the Assistant Commissioner of Income Tax, v. Haneefa Sahib Shajahan,[I.T.A. No.931/Chny/2022 dated January 24, 2023] has…
Cancellation of GST Registration without stating a reason in SCN / Order is cryptic in nature
The Hon’ble Gujarat High Court in Gigamade Machineries Private Limited v. State of Gujarat [R/Special Civil Application No. 17599 of…