3 ViewsThe AAAR, Karnataka, in the matter of M/s. Ms. Rabia Khanum [KAR/AAAR /02/2023 dated February 14, 2023] has upheld the advance ruling passed by AAR, Karnataka and held that the amounts received by the assessee due to the consideration, advance received on the sale of small plots which have the development work are not […]
Judgement on cancellation of registration – Notice treated as vague and reckless
6 ViewsSr.No.035625-03-2023 Citation – 2023-VIL-189-ALHM/s VIRAJ POLYMERS PRIVATE LTD Vs STATE OF U.P. AND 3 OTHERSDate of Order – 16-03-2023HIGH COURT OF ALLAHABAD The registration was cancelled after not replying to the initial notice. The reason for cancellation was that the firm was not found existence in the business place. The petitioner filed an application […]
Amendments w.r.t. GST in the Finance Bill, 2023 passed by Lok Sabha today
14 Views(Author can be reached at [email protected]) DISCLAIMER: The views expressed are strictly of the author and A2Z Taxcorp LLP. The contents of this article are solely for informational purpose and for the reader’s personal non-commercial use. It does not constitute professional advice or recommendation of firm. Neither the author nor firm and its affiliates […]
Addition to be made for unexplained cash found during search proceedings – ITAT
12 ViewsThe ITAT, Chennai in R. Muthukumar v. Deputy Commissioner of Income Tax [ITA No.: 3090/Chny/2019 dated February 15, 2023 has upheld the findings of the Appellate Authority and held that, there is no error in the reasons given by the Appellate Authority to sustain the additions towards the cash seized during the course of […]
Tax, interest, penalty, fine, and fees due need to be paid for the revocation of cancellation of GST Registration
13 ViewsThe Hon’ble Orissa High Court in M/s. Namrata Pradhan v. Additional CT & GST [W.P.(C) No. 5511 of 2023 dated March 1, 2023] has held that tax, interest, penalty, fine, and fees due need to be paid for the revocation of cancellation of GST Registration by the assessee. The learned counsel appearing for the […]
Application of GAAR Provisions cannot be a ground for denial of Tax benefit under India- Singapore DTAA
14 ViewsThe ITAT, New Delhi in Reverse Age Health Services Pte Ltd v. DCIT [ITA No.1867Del/2022 dated February 17, 2023] has directed the Revenue Department to delete the disallowance of Short Term Capital Gains (“STCG”) and allow the benefit of the provisions of an India- Singapore Double Taxation Avoidance Agreements (“DTAA”) to the assessee on […]
Are you Ready for FY 2023-24 GST??
36 ViewsSince we are already in the last month of the Accounting year i.e. March 2023, which mandates a few important points to be taken care in the current month so that there is smooth functioning in the next year without much reference to the previous year. Keeping the same thing in mind, we have […]
No ITC to purchasing dealer in the absence of proof of genuine transactions and physical movement of goods
24 ViewsThe Hon’ble Supreme Court in the State of Karnataka v. M/s. Ecom Gill Coffee Trading Pvt. Ltd. [Civil Appeal No. 230 of 2023 dated March 13, 2023] has quashed and set aside the order passed by the Hon’ble Karnataka High Court on the grounds that until the purchasing dealer discharges the burden of proof […]
Deemed rent not applicable on unsold flats by builder treated as stock-in-trade
15 ViewsThe ITAT, Pune in Pride and Expert Properties Pvt. Ltd. v. ACIT [ ITA No.860/PUN/2022 dated February 14, 2023] has held that the order passed by the Appellate Authority, confirming the view of the Revenue Department is not justified on the grounds that the assessee had treated its unsold flats as stock-in-trade, thereby implying, […]
Petition challenging Constitutional validity of Sec 16(2)(c) of the CGST Act, i.e. “Credit denied to the buyer when supplier defaults in payment of taxes” on April 19, 2023
21 ViewsTaxpayers nationwide are subjected to the harsh consequences of Section 16(2)(c) of the Central Goods and Services Tax (“CGST”) / State Goods and Service Tax (“SGST”) Acts, 2017. In situations where suppliers have failed to file returns or remit tax on specific supplies, Input Tax Credit (“ITC”) already obtained by the respective buyers on […]