Tax Guru1m
Reassessment u/s. 148 based on cryptic reasons and mechanical approval quashed: ITAT Delhi
ITAT Delhi held that the issuance of notice u/s. 148 based on cryptic reasons combined with a mechanical approval of the Pr.CIT u/s. 151 of the Income Tax Act do not pass the test of judicial scrutiny ...
Tax Guru1m
No levy of penalty on estimated addition on ad hoc disallowance of expenses: ITAT Delhi
ITAT Delhi held that the law is very well settled that there cannot be any levy of penalty on an estimated addition on ad hoc disallowances of expenses. Accordingly, penalty proceedings initiated ...
Tax Guru2m
Import of old and used worn clothing articles without valid specific license unjustified: CESTAT Kolkata
CESTAT Kolkata held that valid specific license required for import of old and used worn clothing articles. Accordingly, redemption fine @10% and penalty @5% imposed for failure to comply with ...
Tax Guru2h
Personal Loan EMI Calculator: How to Calculate Interest?
A personal loan EMI calculator is an online tool that helps you calculate the monthly EMI based on a few key factors: Loan Amount: The total amount borrowed from the lender. Interest Rate: The rate ...
Tax Guru2h
Assessee not availing Personal Hearing Cannot Claim Lack of Opportunity: Madras HC
Mohamed Siddique & Co. Vs Assessment Unit/Verification unit/ Technical Unit/Review Unit Income/ Tax Department (Madras High ...
Tax Guru2h
GST registration cancellation cannot be withheld for assessing liability: Delhi HC
8. It follows that the application for cancellation of GST registration cannot be withheld for assessing the petitioner’s ...
Tax Guru2h
Delhi HC Sets Aside GST Registration Cancellation Notice for lacking specific allegations
In Saluja Electronics Vs Commissioner of CGST and Central Excise Delhi East Commissionerate, the Delhi High Court annulled a ...
Tax Guru2h
Advisory for Taxpayers: New GST Provision for Metal Scrap Transactions
The government has issued Notification 25/2024-Central Tax, on October 9, 2024.under GST Section 51 of the CGST Act, 2017 mandating compliance by the businesses dealing with Metal Scrap. The GST ...
Tax Guru2h
Payment of Section 129(3) demand does not restrict right to appeal: Gauhati HC
In the case of TNS Express Pvt Ltd and Anr Vs State of Assam, the Gauhati High Court addressed the issue of filing an appeal ...
Tax Guru2h
Bombay HC Quashes Provisional Attachment in GST Case
In a recent judgment, the Bombay High Court addressed the legality of a provisional attachment order under the Central Goods and Services Tax Act, 2017, in the case of Global Tabacc Legacy vs. Union ...
Tax Guru2h
CGST Act Section 74 Applicable for Willful Suppression of Sales to Evade Tax
The petitioner is a registered person under the CGST / SGST Acts. The petitioner was served with Ext.P3 show cause notice ...
Tax Guru2h
ITAT Ahmedabad Rejects Appeal on PF & ESI Contribution Delay
Displeased with the CPC’s decision, GMW Private Limited filed an appeal before the CIT (A), but the appeal was dismissed. The company contended that the adjustments made by the CPC lacked prior notice ...