why the so-called creditors would lend such huge unsecured, interest free loans – that too without any agreement. In the absence of the same, the creditors fail the test of creditworthiness and the transactions fail the test of genuineness. Liable…
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Assessee suffers civil consequences as a result of an order of Special audit under s. 142(2A) and same is prejudicial to him and therefore, the principles of natural justice must be held to be implicit in the provisions of s. 142(2A) and…
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जिनको रिवर्स चार्ज मैकेनिज्म में जीएसटी भरना है उनको जीएसटी नंबर लेना पड़ेगा जैसे कि हॉस्पिटल या वे व्यक्ति जो 20 लाख या उससे कम भी टर्नओवर करते हैं आदि GST-Reverse Charge If you are required to pay GST-RCM under…
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On 3 February, 2017 ITAT, HYDERABAD BENCH in the case of Dy. CIT v. M/s. Maheswari Mega Ventures Ltd. decide on following three issues:- Assessing officer failed to appreciate that company is an independent entity and distinct person. The action…
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HYDERABAD TRIBUNAL on Jun 7, 2017 held that for invoking the provisions of Section 144, there should be non-compliance, as provided u/s. 144(1). There should be non- compliance to the notices u/s. 142(1) or 143(2) or fails to make the…
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………Re- assessment proceedings u/s 147 r.w.s 148 of the Act cannot be initiated after expiry of 4 years from the end of the relevant assessment year unless there is a failure on the part of the assessee to disclose fully…
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Block assessment is to be carried out on the basis of the material found during the course of search and not as a result of other documents or material, which come to the possession of the AO subsequent to the…
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