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Income Tax

ITAT - LTCL - sale of shares - LTCG - sale of property - Taxscan

Every Taxpayer entitled to arrange his affairs to Lower Down Taxes: ITAT allows set-off of LTCL on Sale of Shares against LTCG on Sale of Property [Read Order]

September 20, 2021

TDS Statement - ITAT - TSMSIDC - penalty - Taxscan

Penalty under Section 272A(2)(k) can’t be imposed merely for Delay in Filing Quarterly TDS Statement: ITAT grants relief to TSMSIDC [Read Order]

September 20, 2021

Expenditure - conversion of Convertible Debentures - equity shares - Capital - ITAT - Taxscan

Expenditure on Conversion of Convertible Debentures into Equity Shares is ‘Capital’ in Nature: ITAT [Read Order]

September 20, 2021

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CBIC - export of services - supplier of service - export - Taxscan

CBIC issues clarification relating to Export of Services that Supplier of Service, Recipient of Service are not merely establishments of distinct person [Read Circular]

September 21, 2021

On recommendations of the GST Council in the 45th meeting, the Central Board of Indirect Taxes and Customs (CBIC) issued the clarification relating to the export of services that supplier of service, recipient of service are not merely establishments of distinct persons. “Various representations have been received citing ambiguity caused in the interpretation of the […]

export duty - accumulated ITC - CBIC - Taxscan

Goods actually subjected to Export Duty will be covered under restriction imposed from availment of Refund of Accumulated ITC: CBIC [Read Circular]

September 20, 2021

The Central Board of Indirect Taxes and Customs (CBIC) while issuing the clarification on GST-related issues said that goods actually subjected to export duty will be covered under restriction imposed from availment of refund of accumulated ITC. Various representations have been received from taxpayers and other stakeholders seeking clarification in respect of certain issues pertaining […]

GST: CBIC issues Clarification on doubts related to Scope of ‘Intermediary’ [Read Circular]

September 20, 2021

The Central Board of Indirect Taxes and Customs (CBIC) issued the clarification on doubts related to the scope of “Intermediary”. The Board has received the representations citing ambiguity caused in the interpretation of the scope of “Intermediary services” in the GST Law. In view of the difficulties being faced by the trade and industry and […]

Every Taxpayer entitled to arrange his affairs to Lower Down Taxes: ITAT allows set-off of LTCL on Sale of Shares against LTCG on Sale of Property [Read Order]

September 20, 2021

The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) while allowing the set-off of Long Term Capital Loss (LTCL) on sale of shares against Long Term Capital Gain (LTCG) on sale of property ruled that every taxpayer was entitled to arrange his affairs to lower down taxes. The assessee, Michael E Desa is a non-resident […]

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CBIC issues clarification relating to Export of Services that Supplier of Service, Recipient of Service are not merely establishments of distinct person [Read Circular]

September 21, 2021

Goods actually subjected to Export Duty will be covered under restriction imposed from availment of Refund of Accumulated ITC: CBIC [Read Circular]

September 20, 2021

GST: CBIC issues Clarification on doubts related to Scope of ‘Intermediary’ [Read Circular]

September 20, 2021

Every Taxpayer entitled to arrange his affairs to Lower Down Taxes: ITAT allows set-off of LTCL on Sale of Shares against LTCG on Sale of Property [Read Order]

September 20, 2021

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