No GST on providing dental health care services including artificial teeth, crown and bridges by dental clinic: AAR
Authority for Advance Rulings, Maharashtra Jyoti Ceramic Industries (P.) Ltd., In re - [2022] 137 taxmann.com 390 (AAR - MAHARASHTRA)
The applicant wa ...
MCA tweaks Form SH.4 to include a declaration from transferee that no Govt. approval is required under FEMA (NDI) rules
NOTIFICATION No G.S.R 335(E), Dated 04.05.2022
The MCA has notified the Companies (Share Capital and Debentures) Amendment Rules, 2022 whereby &lsqu ...
Reimbursement of water & electricity charges by tenants are includible in value of supply: AAR
Authority for Advance Rulings, Maharashtra Indiana Engineering Works (Bombay) (P.) Ltd., In re - [2022] 137 taxmann.com 389(AAR - MAHARASHTRA)
The applicant was an ab ...
Books of account not audited at time of filing of ITR isn’t a criteria to deny carry forward of losses: ITAT
DCIT v. Brahmos Aerospace (Thiruvananthapuram) Ltd. - [2022] 137 taxmann.com 340 (Cochin - Trib.)
The assessee was engaged in the business of Manufacturing ...
No penalty on receiving cash loan over Rs. 20,000 from family members to meet business exigencies: ITAT
Balwan Singh v. ACIT - [2022] 137 taxmann.com 395 (Delhi - Trib.)
Assessee-transporter was engaged in the business of plying the truck and filed return based on estim ...
Sec. 54 relief can’t be denied merely because description of property was mentioned as ‘land’ in sale deed: ITAT
Charu Agarwal v. DCIT - [2022] 137 taxmann.com 283 (Delhi - Trib.)
Assessee was an individual and non-resident of India. She had sold a resident ...
Penalty u/s 271G can’t be levied on assessee if TPO asked for doc. which wasn’t available in public domain: ITAT
ACIT v. DA Jhaveri - [2022] 137 taxmann.com 336 (Mumbai - Trib.)
Assessee-company was engaged in the business of cutting and polishing diamonds. It ha ...
ITAT gives relief to assessee; set-aside penalty for non-furnishing of Form 3CEB in its first year of applicability
Faith Intertrade v. ITO - [2022] 137 taxmann.com 259 (Ahmedabad - Trib.)
Assessee was a partnership firm engaged in the business of industrial waxes and p ...
No disallowance of exp. relying upon audit report if same was in contrary to view of jurisdictional HC: ITAT
Kalpesh Synthetics (P.) Ltd. v. DCIT - [2022] 137 taxmann.com 475 (Mumbai - Trib.)
While processing of return, the CPC, Bangalore had proposed some adj ...
The Finance Act, 2022 has introduced a new concept of updated return, wherein it allows up to 24 months to file the return of income. A new sub-section (8A) has been inserted under section 139 to allow a person to file an updated return of income except in case of search & seizure and ...
Best Crop Science LLP v. State of U.P. - [2022] 137 taxmann.com 260 (Allahabad)
The department had blocked the Input Tax Credit (ITC) of petitioner of Rs. 2,67,16,352/- which was available in the Electronic Credit ...
Malavika Enterprises v. Central Board of Direct Taxes - [2022] 137 taxmann.com 398 (Madras)
The assessee filed a writ-petition challenging the date of issuance of the notice under section 148 of the Income-tax Act. In the case of the assessee, notice was issued vide email on 31/0 ...
Electra Paper and Board (P.) Ltd. v. ITO - [2022] 137 taxmann.com 74 (Chandigarh - Trib.)
Assessee-company had allotted certain shares at Rs. 20/- (including premium of Rs. 10) to the family members and related group companies on 31-03-2016. During the assessment, the Assess ...
Notification No. 37/2022, dated 21-04-2022
The CBDT has notified additional conditions under the seventh proviso to section 139(1) whereby return filing is made mandatory in the following situations:
1. If total sales, turnover, or gross receipt of the business exceeds Rs ...
Syndicate Bank vs CCE - [2022] 137 taxmann.com 302 (Bangalore - CESTAT)
The appellant is engaged in providing banking and other financial services. A show-cause notice was issued to the appellant for wrongfully utilising the CENVAT credit in contravention of Rules 9(1) &a ...
Failure of AO to issue scrutiny notice in time couldn’t be cured by resorting to sec. 292BB: HC
PCIT v. Cherian Abraham - [2022] 137 taxmann.com 73 (Karnataka)
A search under section 132 was conducted in the assessee's case in connection with a search in an ...
ITAT gives relief to senior citizen; CIT to look at practical situation before treating cash deposits as unexplained income
Shergil Harjit v. PCIT - [2022] 136 taxmann.com 413 (Pune - Trib.)
The assessee was engaged in the business of readymade garments and also ...
In an important judgement, the ITAT -Mumbai has held Agreement to Sale' can't be considered as date of purchase of property for computing Sec. 54 deduction -Reji Easow v. ITO - [2022] 136 taxmann.com 111
The assessee and his wife booked a new residential house property. The assessee ...
In an important judgement, the ITAT-Delhi in the matter of Abhay Kumar Mittal v. DCIT - [2022] 136 taxmann.com 78 held the assessee paying rent to his wife is entitled to claim benefit of HRA.
The assessee claimed the benefit of House Rent Allowance (HRA) on rent pai ...
Mandatory requirement for disclosure of accounting ratios in Financial Statement
In order to bring greater transparency and to improve the quality of reporting in the financial statements, an amendment to Schedule III to the Companies Act, 2013 was introduced by the Ministry of Corporate Affairs (M ...
In an important judgement, the Indore-Tribunal in the matter of Yogesh Jhingan v. DCIT - [2022] 135 taxmann.com 291 held that Date of possession of new flat to be considered to calculate threshold limit to allow sec. 54F deduction. The assessee in the case, sold agricultural ...
In the instant case, petitioners were aggrieved by cessation of office as directors of M/s. Hahnemann International Pvt. Ltd. The disqualification happened by operation of Section 164 (2) for not filing balance sheets and annual returns for a continuous period of three years from the year 2014 ...
The Supreme Court of India has put the controversy to rest regarding the deductibility of freebies gifted by Pharma Company to doctors. The Apex Court held that when acceptance of freebies is punishable under Indian Medical Council Regulations, pharmaceutical companies cannot be granted the& ...
In the instant case Pavan Morarka v. ACIT - [2022] 136 taxmann.com 2 (Bombay), the Assessing Officer issued a reassessment notice relying on the observations of the Delhi High Court. The assessee filed the writ petition before the Bombay High Court against the issue of reassessment notice. ...
In an interesting case the Karnataka HC in the matter of Devendra Pai v. ACIT - [2022] 135 taxmann.com 196 (Karnataka) allowed filing of revised return u/s 119 (2)(b) after a delay of 6 years.
In the instant case, The assessee was a retired bank employee. He availed o ...