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Applying 12AA after long period of incorporation-the CIT(E) had validly the benefit of going through the genuineness of the activities of the society on touchstone of the assessee’s Income and expenditure accounts for the preceding three years
Friends, The decisions relied by the ld. AR to buttress the contention that the ld. CIT (E) should confine himself to the objects of the trust and not the actual activities are not relevant in the present context when the…
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किसी से उधार लिए हुए रुपए के संबंध में उसकी creditworthiness, genuineness उसके साथ हुए एग्रीमेंट को नहीं प्रस्तुत करने पर धारा 68 में एडिशन हो जाएगा
why the so-called creditors would lend such huge unsecured, interest free loans – that too without any agreement. In the absence of the same, the creditors fail the test of creditworthiness and the transactions fail the test of genuineness. Liable…
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order of Special audit under s. 142(2A) by AO-principles of natural justice must be held
Assessee suffers civil consequences as a result of an order of Special audit under s. 142(2A) and same is prejudicial to him and therefore, the principles of natural justice must be held to be implicit in the provisions of s. 142(2A) and…
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Reverse charge Mechanism under GST
जिनको रिवर्स चार्ज मैकेनिज्म में जीएसटी भरना है उनको जीएसटी नंबर लेना पड़ेगा जैसे कि हॉस्पिटल या वे व्यक्ति जो 20 लाख या उससे कम भी टर्नओवर करते हैं आदि GST-Reverse Charge If you are required to pay GST-RCM under…
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It is misconceived idea to charge payment of ‘on money’ to the shareholders of the company, in which company entered in the transaction
On 3 February, 2017 ITAT, HYDERABAD BENCH in the case of Dy. CIT v. M/s. Maheswari Mega Ventures Ltd. decide on following three issues:- Assessing officer failed to appreciate that company is an independent entity and distinct person. The action…
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Non-compliance to summons u/s. 131 is not one of the conditions for invoking the best judgment
HYDERABAD TRIBUNAL on Jun 7, 2017 held that for invoking the provisions of Section 144, there should be non-compliance, as provided u/s. 144(1). There should be non- compliance to the notices u/s. 142(1) or 143(2) or fails to make the…
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