The Income Tax Appellate Tribunal (ITAT), Bangalore Bench held that the usage of fund cannot be the reason to impose tax liability. The assessee filed his return of income for the assessment year returning an...
The Telecom giant Vodafone on Friday won a significant ruling against the Indian government in an international court over Rs.20,000 crore in dues which it had described as unfair. The tax dispute involving Rs 12,000...
The Central Board of Indirect Taxes and Customs (CBIC) on Friday has sent the administrative instruction for recovery of interest on net cash liability which will be applicable from July 1, 2017. The provision of...
The Karnataka High Court quashed the order of the ITAT as it did not consider the reasoning that while computing capital gains the benefit of indexed cost of acquisition is to be considered for the...
The Delhi High Court refused to direct authorities to accept the declaration and issue a discharge certificate in Form SVLDRS-4. The Petitioner, Chaque Jour HR Service Pvt. Ltd. is a Company engaged in the business...
The Supreme Court while upholding the assessment of AO held that the date of award is the date of accrual of capital gains for the purpose of Section 45 of the Act of 1961. The...
The Central Board of Indirect Taxes & Customs (CBIC) today clarified that the Notification No. 63/2020-Central Tax dated 25′ August 2020 relating to interest on delayed payment of GST has been issued prospectively due to...
The Central Board of Indirect Taxes and Customs (CBIC) notified the interest on late GST payments would be applicable only on net cash tax liability after the deduction of the available input tax credits w.e.f....
The Kerala High Court allowed an instalment facility to pay the admitted tax with interest to the taxpayer hit by financial difficulties due to COVID-19. The petitioner, Pazhayidom Food Ventures (P) Ltd. is registered as...
The Goods and Services Tax (GST) Portal has enabled the offline tool to prepare to form GSTR-4 Annual Return by Composition Taxpayers. An EXCEL based offline tool has been provided on the GST portal for...
In a major relief to the GST taxpayers, the government has decided to cap the maximum late fee for Form GSTR-3B at Rs. 500/- (five hundred only) per return for the tax period July 2017...
A recent advance ruling issued by the Karnataka Authority for Advance Ruling covers multiple frequently asked questions and thereby assumes significance. The ruling is issued in Order No. KAR ADRG 30/20/04.05.2020 in a case where Mr. Anil...
The Bangalore bench of the Income Tax Appellate Tribunal (ITAT) has recently held that the provisions of the Double Taxation Avoidance Agreement (DTAA) would prevail over the provisions of the Income Tax Act, 1961. The...
The Gujarat Authority of Advance Ruling (AAR) ruled that 18% of GST is applicable to the royalty paid for Licensing services for the right to use minerals including its exploration and evaluation. The applicant, M/s....
The Bangalore bench of the Income Tax Appellate Tribunal (ITAT), while dismissing an appeal by the assessee in view of filing Vivad Se Vishwas Scheme 2020, stated that the assessee can recall the dismissal order...
In a major relief to Air France, the Income Tax Appellate Tribunal (ITAT) has held that the Company is not liable to income tax in India for its services/activities and profit thereof derives from pool...
The High Court of Madras held that excess Input Tax Credit (ITC) has to be refunded back to the dealer. There was no provision for carrying forward such Input Tax Credit for adjustment of tax...
The Central Board of Direct Taxes (CBDT), on Friday, issued a clarification in respect of residency under Section 6 of the Income Tax Act, 1961 wherein the Board has clarified that the lockdown period will...
The Central Board of Indirect Taxes and Customs ( CBIC ) has extended the due dates of filing GSTR-3B in Union Territories of Jammu & Kashmir and Ladakh. The notification issued by CBIC said that...
Governments across the world are striving to formulate measures to mitigate the economic impact of the pandemic in the best possible ways. With reference to the Azerbaijan Cabinet of Ministers, Trend reported the decision that...
In order to overcome the issues caused due to the COVID-19 outbreak and the lockdown period, the Central Board of Direct Taxes (CBDT) has extended the validity of Forms 15G and 15H of FY 2019-20...
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