.The jurisdictional Bombay High Court in the case of CIT v. Ms. Chhaya B. Parekh, ITA (L) No.1583 of 2012 dated 24th January, 2013 has, after relying on the decision in the case of Vania Silk Mills (P.) Limited v. CIT [1991] 191 ITR 647 (SC), held that demolition of a structure would not constitute… (read more)

The composition scheme is provided under section 10 of the CGST Act. The relevant sections are as under:- “10. Composition levy.— (1) Notwithstanding anything to the contrary contained in this Act but subject to the provisions of sub-sections (3) and (4) of section 9, a registered person, whose aggregate turnover in the preceding financial year… (read more)

Please refer the “Digest” the gist of case law is hosted on 4 -12 -2021 ie Rajasthan High Court , Bpip infra Pvt Ltd order dt. 25 -11 -2021 . itatonline.org is not publishing all the case laws. It publishes only important case laws . In the “Digest” the case laws are digested which are… (read more)

The assessee has to ascertain the market value of the flat when the assessee has got the flat on redevelopment . In ACIT v. Shree Krishna Pharmacy (Mum.)(Trib.)(UR) (ITA No 3947/Mum./2016 dt 19-04-2018 “H”)(AY. 2007-08), dismissing the appeal of the revenue the Tribunal held that, value of tenancy rights to be considered for determination of… (read more)

: As per Para 10(a) of the CBDT Circular No. 03 of 2018 dated July 11, 2018 [2018] 405 ITR (St.) 29, where adverse judgements relating to the Constitutional validity of the provisions of the Act or Rule is under challenge, then there is no monetary limit on the revenue for filing an appeal. In… (read more)

: The assessee should ask for copy of the documents seized , copy of statement recorded and also an opportunity of cross examination . If opportunity of cross examination is not given the order in bad in law . Andaman Timber Industies v CCE ( 2015 ) 281 CTR 241 (SC) , Kishanchand Chellarm v… (read more)

As we understand, As per section 144A(ii) of the Income-tax Act, 1961 (Act), the valuation of purchase and sale of goods or services and of inventory shall be adjusted to include the amount of any tax, duty, cess or fee (by whatever name called) actually paid or incurred by the assessee to bring the goods… (read more)

The appeal can be filed as per section 253(1) (d) of the Act an order passed by the Assessing Officer in pursuance of the directions of the Disputes Resolution Panel , with in sixty days. While filing an appeal the assessee has to enclose the order under section 144C of the Act along with the… (read more)

Merely because the assessee has not paid tax as per the declaration , issue of reassessment notice is not valid . The assessee has to file the return under protest and ask for recorded reasons . After getting the recorded reasons the assessee may have to file an objection for the recorded reasons . Follow… (read more)

In Pawan Kumar (HUF) v. ITO (2020) 190 DTR 366 /205 TTJ 810 (SMC) (Jodhpur)(Trib.) the Tribunal held that the provisions of section 115BBE of the Act were not applicable if the surrender was made on account of excess stock found during the course of survey. The Tribunal referred the decision in Shri Lovish Singhal,… (read more)