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Taxscan | Simplifying Tax Laws
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  • GST Council exempts Pandemic Period from Calculating Limitation Period for Refund Claims
  • GST Council exempts Small Taxpayers from filing GSTR-9 and 9A
  • GST Council proposes to Amend Rules to Resolve Pending IGST Refund Issues: E-Wallet Scheme to be Removed
  • GST Council increases Rates on Various Goods and Services
  • GST Council reduces GST Rate on various Goods and Services

section 68 of the Income Tax Act

Suppression - Net Sales assessable - Business Income - treated - Deemed Income - ITAT - Taxscan
Suppression in Net Sales assessable as ‘Business Income’, can’t be treated as Deemed Income u/s 68: ITAT [Read Order]
April 19, 2022
Bogus Purchase - ITAT - Taxscan
Once Bogus Purchase is Sold, Section 68 cannot be invoked to Tax the entire Amount: ITAT [Read Order]
July 8, 2021
Delhi High Court stays Faceless Assessment Order, directs to allow Personal Hearing to Assessee [Read Order]
May 18, 2021
ITAT - Capital Gain - Investment- husband - wife - Taxscan
Deposit of Business Income of Wife in Joint Bank A/c can’t attract Addition u/s 68: ITAT [Read Order]
June 13, 2020
assessee - Cash Credits- Taxscan
Tax Authorities should consider Documentary Evidence before confirming Addition for Cash Credits: ITAT [Read Order]
May 11, 2020
Penalty Proceedings - Directing Penalty - Supreme - Court - Taxscan
Addition made by Dept is Invalid in view of Quashing of Penalty Proceedings: SC [Read Judgment]
April 25, 2020
Share Premium - ITAT - Taxscan
No Addition on Share Premium If Shares were allotted under a Barter System: ITAT [Read Order]
March 23, 2020
Addition - Undisclosed Cash - Unexplained Cash Credit
Addition for Unexplained Cash Credit can’t be merely on Suspicion: ITAT [Read Order]
March 11, 2020
Share Application - bombay high court - ITAT - Share Application Money - Taxscan
Genuineness of Share Application Money can’t be suspected without Proper Inquiry: ITAT [Read Order]
March 7, 2020
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    • GST Council - Pandemic Period - Limitation Period - Refund Claims - Taxscan
    • GST Council exempts Pandemic Period from Calculating Limitation Period for Refund Claims
    • June 29, 2022
    • The 47th GST Council meeting concluded today at Chandigarh has decided to exempt the time period from 01.03.2020 to 28.02.2022 from the calculation of the limitation period to file refund claims under sections 54 and 55 of the Central GST Act, 2017. “The time period from 01.03.2020 to 28.02.2022 to be excluded from the calculation […]
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    • June 29, 2022
    • The GST Council’s 47th meeting held at Chandigarh on Tuesday and Wednesday decided to exempt taxpayers having turnover up to 2 crores from the filing of annual return in form GSTR-9 and 9A. “Exemption from filing annual return in FORM GSTR-9/9A for FY 2021-22to be provided to taxpayers having AATO upto Rs. 2 crores,” the […]
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    • June 29, 2022
    • The 47th GST Council meeting has decided to propose amendment in CGST Rules for the handling of pending IGST refund claims. “Present exemption of IGST on import of goods under AA/EPCG/EOU scheme to be continued and E-wallet scheme not to be pursued further,” the Government said. In some cases where the exporter is identified as […]
    • GST Council - GST Rate - Goods and Services - Taxscan
    • GST Council increases Rates on Various Goods and Services
    • June 29, 2022
    • The GST Council’s 47th meeting was held in Chandigarh on 28th and 29th June, 2022 under the chairmanship of the Union Finance & Corporate Affairs Minister Smt. Nirmala Sitharaman has increases the GST Rate on Various Goods and Services. S. No. Description From To GOODS   Printing, writing or drawing ink 12% 18%   Knives […]
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    • GST Council - Pandemic Period - Limitation Period - Refund Claims - Taxscan
    • GST Council exempts Pandemic Period from Calculating Limitation Period for Refund Claims
    • June 29, 2022
    • The 47th GST Council meeting concluded today at Chandigarh has decided to exempt the time period from 01.03.2020 to 28.02.2022 from the calculation of the limitation period to file refund claims under sections 54 and 55 of the Central GST Act, 2017. “The time period from 01.03.2020 to 28.02.2022 to be excluded from the calculation […]
    • GST Council - exempts Small Taxpayers - filing GSTR-9 and 9A - Taxscan
    • GST Council exempts Small Taxpayers from filing GSTR-9 and 9A
    • June 29, 2022
    • The GST Council’s 47th meeting held at Chandigarh on Tuesday and Wednesday decided to exempt taxpayers having turnover up to 2 crores from the filing of annual return in form GSTR-9 and 9A. “Exemption from filing annual return in FORM GSTR-9/9A for FY 2021-22to be provided to taxpayers having AATO upto Rs. 2 crores,” the […]
    • GST Council - Amend Rules - Pending - IGST Refund Issues - E-Wallet Scheme - Taxscan
    • GST Council proposes to Amend Rules to Resolve Pending IGST Refund Issues: E-Wallet Scheme to be Removed
    • June 29, 2022
    • The 47th GST Council meeting has decided to propose amendment in CGST Rules for the handling of pending IGST refund claims. “Present exemption of IGST on import of goods under AA/EPCG/EOU scheme to be continued and E-wallet scheme not to be pursued further,” the Government said. In some cases where the exporter is identified as […]
    • GST Council - GST Rate - Goods and Services - Taxscan
    • GST Council increases Rates on Various Goods and Services
    • June 29, 2022
    • The GST Council’s 47th meeting was held in Chandigarh on 28th and 29th June, 2022 under the chairmanship of the Union Finance & Corporate Affairs Minister Smt. Nirmala Sitharaman has increases the GST Rate on Various Goods and Services. S. No. Description From To GOODS   Printing, writing or drawing ink 12% 18%   Knives […]
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