CBDT rolls out Annual Information Statement (AIS) to provide details of taxpayer’s financial info.

The CBDT has rolled out the new Annual Information Statement (AIS) on the Compliance Portal which provides a comprehensive view of information to a taxpayer with a facility to capture…

Continue ReadingCBDT rolls out Annual Information Statement (AIS) to provide details of taxpayer’s financial info.

No ST on student recruitment services sub- contracted to assessee by foreign parent co. for foreign universities: CESTAT

EXCISE/ST/VAT : Where appellant was providing "student recruitment services" to its principal (IDP Australia), who, in turn, provided services to foreign universities since appellant was providing services which had been…

Continue ReadingNo ST on student recruitment services sub- contracted to assessee by foreign parent co. for foreign universities: CESTAT

Appeals decided by CIT(A) after his compulsory retirement suffered from jurisdictional defect not curable: ITAT

INCOME TAX : Where Commissioner (Appeals), Noida had decided Income-tax Appeals pertaining to Ghaziabad Jurisdiction over which he had no jurisdiction, after his compulsory retirement, when he was functus officio,…

Continue ReadingAppeals decided by CIT(A) after his compulsory retirement suffered from jurisdictional defect not curable: ITAT

ITAT was justified in quashing reassessment as AO reopened same on mere change of opinion: HC

INCOME TAX : Where Tribunal found that Assessing Officer had changed his opinion, regarding deduction under section 24, to reopen assessment, it was justified in quashing reassessmentINCOME TAX : Where…

Continue ReadingITAT was justified in quashing reassessment as AO reopened same on mere change of opinion: HC

Credit of education cess and higher education cess taken through TRAN-1 to be recovered along with interest and penalty: CESTAT

EXCISE/ST/VAT : Credit of education cess and higher education cess cannot be transferred into TRAN-1 Under GST.EXCISE/ST/VAT : Credit of education cess and higher education cess cannot be transferred into…

Continue ReadingCredit of education cess and higher education cess taken through TRAN-1 to be recovered along with interest and penalty: CESTAT

ITAT refused tax dept’s request to grant adjournment for a further period of 6 months on plea of Covid-19 pandemic

INCOME TAX : Where both parties were citing 'pandemic' as reason for either early disposal of matter or for seeking postponement of adjudication of matter and a request was made…

Continue ReadingITAT refused tax dept’s request to grant adjournment for a further period of 6 months on plea of Covid-19 pandemic

Revenue can’t content that it does not know about death of assessee at the time of issuing notice; SC dismissed SLP

INCOME TAX : SLP dismissed against High Court's ruling that notice issued under section 153C against dead person is unenforceable in law and in such case revenue cannot contend that…

Continue ReadingRevenue can’t content that it does not know about death of assessee at the time of issuing notice; SC dismissed SLP