Tax
Husband Entitled Capital Gain Exemption For Asset Bought In The Name Of The Wife: ITAT
The Jaipur Bench of the Income Tax Appellate Tribunal (ITAT) consisting of Dr. S. Seethalashmi (Judicial Member) and Rathod Kamlesh Jayantbhai (Accountant Member) held that the husband was entitled to a capital gain exemption for assets bought in the name of the wife. The assessee, Kaushlendra Singh, sold immovable property for a consideration of Rs.14,75,000. The value of which...
Delay Of 18 Months In Filing Appeal Without Reasonable Justifications: Madhya Pradesh High Court Upholds Cancellation Of GST Registration
The Madhya Pradesh High Court bench of Justice Sheel Nagu and Justice Maninder S. Bhatti has upheld the cancellation of GST registration as there was a delay of 18 months in filing the appeal without reasonable justification. The petitioner company/assessee was registered under the Goods and Services Tax Act, 2017. On account of non-filing of a return, the GST number allotted to...
No Opportunity Of Personal Hearing Granted To Taxpayer: Delhi High Court Quashes Assessment Order
The Delhi High Court bench of Justice Rajiv Shakdher and Justice Talwant Singh has quashed the assessment order as an opportunity of personal hearing was not granted to the taxpayer.The petitioner/assessee had filed his return of income for AY 2018-2019 on 31.03.2019. The petitioner pegged his taxable income at Rs. 29,66,880. The Assessing Officer picked up the petitioner's...
No Service Tax Payable On Service Charges Collected By Rajasthan Cooperative Dairy Federation From Milk Unions: CESTAT Delhi
The Delhi Bench of Custom, Excise & Service Tax Appellate Tribunal (CESTAT) has ruled that no service tax is payable on the service charges collected by the Rajasthan Cooperative Dairy Federation from the milk unions or district cooperative societies for the services rendered to them. The Bench, consisting of Justice Dilip Gupta (President) and technical member P.V. Subba Rao,...
CIT(A) Is A Quasi Judicial Authority, Not Bound By Administrative Circulars Issued By CBDT: Telangana High Court
The Telangana High Court held that the CIT (A) is a quasi judicial authority and is not bound by the administrative circulars issued by the Central Board of Direct Taxes (CBDT). The division bench of Justice Ujjal Bhuyan and Justice Surepalli Nanda has remanded the matter back to the CIT (A) for a fresh decision on the prayer for stay of the petitioner in accordance with...
CBIC Allows Export Of Goods From Bangladesh To India By Rail In Closed Containers Which Are Coming Back To India
The Central Board of Indirect Taxes and Customs (CBIC) has enabled the export of goods from Bangladesh to India by rail in closed containers. The Board has got references from several ministries and commerce to enable the rail transportation of containerized freight from Bangladesh into India. A request was also received from Bangladesh's High Commissioner in New Delhi, who informed...
Technical Issues In Income Tax Portal: Calcutta High Court Gives Fresh Opportunity To Assessee
The Calcutta High Court bench of Justice Md. Nizamuddin has directed the assessing officer to do a new assessment proceedings as taxpayers could not furnish answers to the notice due to the technical glitches in the income tax portal. The petitioner/assessee has challenged the assessment order on the ground of violation of the principle of natural justice by not providing the...
18% GST Payable On 'Pattadar Pass Book Cum Title Deed' ; Karnataka High Court Upholds AAR Ruling
The Karnataka High Court bench of Justice S. Sujatha and Justice Shivashankar Amarannavar, while upholding the ruling of the Authority of Advance Ruling (AAR), held that 18% GST is payable on 'pattadar pass book cum title deed'.The petitioner/assessee was engaged in the business of printing books, magazines, calendars, diaries, bank passbooks, bank account opening forms, and various...
Initiation Of Reassessment Proceedings By Income Tax Officer Without Jurisdiction: Delhi High Court Quashes The Proceedings
The Delhi High Court bench of Justice Manmohan and Justice Dinesh Kumar Sharma held that since the petitioner jurisdictional Assessing Officer is headquartered in Delhi, the income tax officer from Jaipur had no authority to send a notice proposing the beginning of reassessment proceedings. The petitioner/assessee challenged the order passed by the Income Tax Officer under Section 148A...
Clarificatory Circular Operates Retrospectively And Does Not Bring Anything New: Gauhati High Court
The Gauhati High Court has reiterated that a circular issued by the Central Board of Excise and Customs [CBEC] which only clarifies the CBEC's original instructions and does not bring anything new is clarificatory in nature and operates retrospectively. The Single Bench of Justice Devashis Baruah held that the exceptions enumerated in the clarificatory circular issued by CBEC,...
Due Date For Filing GST PMT-06 Extended To 24 May, 2022: CBIC
The Central Board of Indirect Taxes And Customs (CBIC) has extended the due date for filing GST PMT-06 for the month of April, 2022, till May 24, 2022, owing to a technical glitch.The due date for filing FORM GSTR-3B for the month of April, 2022 has been extended till May 24, 2022.CBIC acknowledged that a technical glitch has been reported by Infosys in the generation of April GSTR-2B...
Non Consideration Of Detailed Reply To Show Cause Notice Submitted After Stipulated Time, Delhi High Court Quashes Reassessment Order
The Delhi High Court bench of Justice Manmohan and Justice Dinesh Kumar Sharma has quashed the reassessment order, alleging income of more than Rupees one lakh crore having escaped assessment on the grounds of violation of natural justice.The petitioner/assessee has submitted that the order under Section 148A (d) of the Income Tax Act was passed without considering the replies filed by...