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Tax Guru1h
Sale of Liquid Carbon Dioxide was liable to be taxed at 5%
4. The contention of the petitioner was that, liquid Carbon Dioxide falls within Entry-100 (190) in Schedule-IV of the VAT ...
Tax Guru48m
Addition imposed injudiciously demonstrates lack of requisite care and caution by lower authority
Follow Us: ITAT Mumbai held that addition foisted upon the assessee in injudicious manner by the lower authority demonstrates lack of requisite care and caution since neither the initiation of ...
Tax Guru1h
Where minor’s income already clubbed in mother’s return, same couldn’t be re-assessed in father’s hands
Reassessment proceedings initiated against a father after finding that the minor son’s income had already been clubbed in the mother’s income tax return was not valid as AO proceeded with ...
Tax Guru21h
Cash Deposits from Joint Bank Account Assessed to Primary Holder, Case Remanded for Verification
The genesis of the dispute lies in the assessee’s failure to file a return of income despite significant cash deposits in his ...
Tax Guru21h
GST Dept Must Consider Medical Ground Adjournment Requests: Delhi HC
The Delhi High Court has set aside a Goods and Service Tax (GST) demand order against M/s Jai Optical, observing that the GST ...
Tax Guru18h
Corporate Social Responsibility: Taxation Aspects & Applicability of TDS
As per Explanation 2 to Section 37 (1) of the Income-tax Act, any expenditure incurred by an assessee on the activities relating to Corporate Social Responsibility (CSR) referred to in Section 135 of ...
Tax Guru17h
TDS/TCS, Invoicing, Due Dates, Interest, Late Fee and Penalties
TDS concept: TDS stand for Tax Deducted at Source. It is an amount deducted by the payer at the time of payment such as salary, interest, professional fees, rent, commission, etc. The basis though is ...
Tax Guru17h
Optimizing Family Wealth: A Tax Impact Analysis of HUF Structure
Optimizing Family Wealth: A Tax Impact Analysis of HUF Structure ...
Tax Guru22h
CESTAT Denies Cash Refund for Post-GST Service Tax
The case involved a claim for refund of Rs.4,95,765 in service tax paid by CAD Vision Engineers on December 6, 2017, for import of service. This payment occurred after the appointed date for GST ...
Tax Guru17h
GST Appellate Tribunal Procedure Rules: A Robust Dispute Resolution Mechanism
Additionally, it underscores the importance of a strong dispute resolution mechanism in settling tax disputes and restoring taxpayer confidence in the GST ecosystem. By examining the structure, ...
Tax Guru20h
Calculated Halt: Understanding Necessity of Indo-Pak Ceasefire
Ultimately, it was at Pakistan’s request that a ceasefire was accepted when their Director General of Military Operations (DGMO) contacted his Indian counterpart. To accept this request while ...
Tax Guru20h
Interest on Wrongly Availed and utilized Input Tax Credit under GST
It is to be noted that interest will be calculated on the amount of input tax credit which is wrongly availed and utilized. Meaning thereby, that interest is not payable on input tax credit which was ...