Judgments

Order of the AO Imposing Penalty on Assessee Under Section 271AAB of the Income Tax Act Does Not Pass the Mandate of the Provisions of Section 271AAB of the Act. So Appeal of the Assessee is Allowed: ITAT Patna

Order of the AO Imposing Penalty on Assessee Under Section 271AAB of the Income Tax Act Does Not Pass the Mandate of the Provisions of Section 271AAB of the Act. So Appeal of the Assessee is Allowed: ITAT Patna

In the case of Shiv Bhagwan Gupta vs ACIT, ITAT Patna has held that: “The assessee has filed return u/s 139 showing income of Rs. 2808270/-The assessee has disclosed income of Rs.2179221/- during the year on account of undisclosed jewellery. […]

Cabinet approves continuation of 1,023 fast-track special courts for 2 years

Important judgments from the week

Many important judgments relating to corporate and commercial law were made by the High Courts and the Supreme Court during the last week or so. Two very important figures from this sphere – Justice R. F. Nariman and Justice Rajiv […]

TAXATION NEWSLETTER

40th Weekly Taxation Newsletter

We thought it would help to give you a sense of what’s available to you by subscribing to this 40th WEEKLY TAXATION NEWSLETTER. ü    Income Tax Updates ü    GST Updates ü    Custom/Excise Updates ü    Important Case Laws ü    International Updates ü    NRI’s Updates  ü    Brain Bites – Do you […]

GST return new rule: From January 1, the rule of GST return will change

Update- GST on Gold

Goods and Services Tax (GST) will have to be paid only for profit on resale of old or second hand gold jewellery. This arrangement has been given by the Authority of Advance Ruling (AAR) of Karnataka. Aadya Gold Pvt Ltd, […]

export of service

Can Intermediary claim refund as ‘export of service’?

AUTHORITY FOR ADVANCE RULINGS, WEST BENGAL in case of Teretex Trading (P.) Ltd. vide ORDER NO. 03/WBAAR/2021-22 dated JUNE 28, 2021 decided the same issue. • Submission of Applicant:- As stated by the applicant, the modus operandi of the business […]

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