Tax Guru23m
Chhattisgarh HC Dismisses Writ Challenging Constitutional Validity of Clauses (c) and (d) of Section 17(5) of CGST Act, 2017
Chhattisgarh High Court challenging the constitutional validity of clauses (c) and (d) of Section 17(5) of the Central Goods ...
Tax Guru40m
Custom classification should rely on chemical nature of product, not its end-use
It is seen that note 1 (b) prescribes that products containing two or more isomers of same compound remain classifiable in ...
Tax Guru43m
Kerala HC Sets Aside Section 148 Order & Notice, Directs Fresh Order After Considering Petitioner’s Reply & Hearing
In the case of Fathima Abu Vs PCIT, the Kerala High Court set aside the order passed under Section 148A(d) of the Income Tax Act, 1961, challenging the validity of the order. The petitioner argued ...
Tax Guru46m
CENVAT Credit Allowed on GTA Services for Transporting Goods to Buyer’s Premises
CCE, which clarified that for sales on FOR destination basis, the place of removal shifts to the buyer’s premises. Since ...
Tax Guru1h
GST Refund Rejection Without Hearing Violates Rule 92(3): Bombay HC
8. Rule 92 (3) of the CGST Rules, 2017 read as follows:- ...
Tax Guru1h
No Penalty on Goods in Transit with Tax Invoice & E-Way Bill for Subsequent Suspension of GST Registration
The petitioner argued that the interception and subsequent penalty were unjustified as the requisite documents were valid at ...
Tax Guru1h
Entry tax on goods imported to Tamil Nadu is invalid: Madras HC
Sub: Tamil Nadu Tax on Entry of Goods into Local Areas Act 2001 – Levy held not valid – Judgment of the High Court of Madras dated 22.3.2007 – Instructions – Certain – issued. Ref: Judgment of the ...
Tax Guru2h
ITAT Directs CIT(A) to Reassess ₹51.20 Lakh Cash Credit
In Ganesan Nakkeeran Vs ITO (ITAT Chennai), the case concerned the addition of ₹51.20 lakh as unexplained cash credit under Section 68 of the Income Tax Act for AY 2010-11. The case was reopened after ...
Tax Guru2h
Entire Bank Credit is Business Receipts for Section 44AD Income Estimation: ITAT Chennai
The ITAT observed that the assessee, engaged in iron and steel trading, had no maintained books of accounts, making Section 44AD presumptive taxation provisions applicable. It ruled that ...
Tax Guru2h
ITAT Chennai Deletes Rs.53.23 Lakh Addition on Cash Deposits
In the case of Balu Vignesh Vs ACIT, the Income Tax Appellate Tribunal (ITAT) Chennai addressed an appeal for the Assessment Year 2017-18 concerning a cash deposit of Rs. 53.23 lakh made by the ...
Tax Guru2h
Section 292B cannot cure defect of Scrutiny notice to a non-existent entity
The court emphasized that issuing a notice to a non-existent entity constitutes a jurisdictional defect, which Section 292B ...
Tax Guru2h
Why the Western Economy is Facing a Crisis
WHAT’S AILING THE WESTERN ECONOMY? In the famous words of one of the world’s greatest economists, Keynes: “Nobody knows why the economy is good or bad.” This observation is very true and reflects the ...