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No Income Tax on Compensation Paid for Govt Acquired Land: Kerala HC [Read Judgment]

The Kerala High Court ruled that, Income Tax cannot be charged on Compensation paid for Acquired land. The petitioner is the absolute owner,...

GST & Other Indirect Tax Appeals to be Heard through Whatsapp: Dept issues Guidelines [Read...

Virtual CFO Services: An Opportunity for Chartered Accountants and Finance Consultants

GST on Sales of Residential Plots by Developers: Advance Rulings Issued but Disputes Looming Large

ITC can be availed on Detachable Sliding and Stackable Glass: AAAR [Read Order]

Scrutiny Assessment without Notice is Defective in Law: ITAT [Read Order]

While upholding an order passed by the Commissioner of Income Tax (Appeals), the Delhi bench of the Income Tax Appellate Tribunal (ITAT) has held that scrutiny assessment under section 143(2) cannot...

Raymond not Passed the Benefit of Tax Reduction to Customers: NAA [Read Order]

The National Anti-Profiteering Authority (NAA) has observed that M/s Raymond has not passed on the benefit of tax reduction and has violated the provisions of Section 171(1) of the Central Goods and...

Applicant executing Independent Work can’t be treated as Sub-Contractor: AAR [Read Order]

The Authority of Advance Ruling (AAR) ruled that an applicant who is supposed to execute an independent work can not be treated as a sub-contractor of the main contract. The construction services...

Analysis & Summary of Special Measures for MSMEs amid COVID-19 Outbreak

Background: The Micro, Small, and Medium Enterprises (MSME) sector has emerged as a highly vibrant and dynamic sector of the Indian economy over quite a few years. The sector has played a crucial...

Society Collecting Rent on behalf of Govt eligible for Receiving Credit of TDS: ITAT [Read Order]

In a significant ruling, the Income Tax Appellate Tribunal (ITAT), Delhi bench has held that the income tax department should allow credit of TDS paid by the society who collects rent on behalf of the...

Activity of Development and Sale of Land attracts GST: AAAR [Read Order]

The Appellate Authority of Advance Ruling (AAAR) upheld the ruling of AAR and ruled that Goods and Service Tax (GST) is payable on the development of land into residential layout and sale. The...

Depositing Timber with Govt. Timber Depot for Disposal Amounts to Supply, Taxable under GST: AAAR [Read Order]

The Appellate Authority of Advance Ruling (AAAR) in Karnataka, while upholding the ruling of the AAR ruled that the transaction of depositing timber with the Government Timber depot for disposal would...

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