Baisakhi Ganguly

Registration of a charitable institution cannot be cancelled merely for carrying on commercial activities 4 min read

• Income Tax

Registration of a charitable institution cannot be cancelled merely for carrying on commercial activities

Baisakhi Ganguly 9 years ago

The Hon’ble Bombay High court in the case of DIT (Appellant) vs. M/s. Khar Gymkhana (Respondent) being Income Tax Appeal No. 2349 of 2013 has... Read More

An assessee can adjust the excess service tax paid amount to future liability or can also claim refund 4 min read

• GST

An assessee can adjust the excess service tax paid amount to future liability or can also claim refund

Baisakhi Ganguly 9 years ago

It has been recently held in the case of the Commissioner CCE & ST, Hyderabad vs. State Bank of Hyderabad – 2016 (6) TMI 675... Read More

Even if AO conducts inquiry for taxability of share capital receipts u/s 68, CIT can revise order u/s 263 4 min read

• Income Tax

Even if AO conducts inquiry for taxability of share capital receipts u/s 68, CIT can revise order u/s 263

Baisakhi Ganguly 9 years ago

The Calcutta High Court in the case of Rajmandir Estates Private Limited vs. Principal Commissioner of Income Tax, ITAT NO.113 OF 2016, held that even... Read More

CBDT issues Instruction directing Assessing Officers to follow the time limit of section 154 2 min read

• Income Tax

CBDT issues Instruction directing Assessing Officers to follow the time limit of section 154

Baisakhi Ganguly 9 years ago

The Central Board of Direct Taxes has issued an Instruction on 15.02.2016 being No. 01/2016 wherein it has directed the Assessing Officers to strictly follow... Read More

CBDT issues Circular relating to starting of Limitation period for Penalty Proceedings 3 min read

• Income Tax

CBDT issues Circular relating to starting of Limitation period for Penalty Proceedings

Baisakhi Ganguly 9 years ago

The Central Board of Direct Taxes (CBDT), Ministry of Finance, has issued a Circular being No. 09/DV/2016 on 26.4. 2016 in which it has expressed... Read More

Penalty cannot be levied for making error in claiming deduction with complicated conditions 5 min read

• Income Tax

Penalty cannot be levied for making error in claiming deduction with complicated conditions

Baisakhi Ganguly 9 years ago

The ITAT, Delhi in the case of Oxford Softech Pvt. Ltd. (PAN: AAACO 4916 E) vs. ITO, Ward 13(1) A 6/3, Vasant Vihar ,New Delhi... Read More

Union Budget suggests treating Security Transaction Tax as advance income tax 2 min read

• Income Tax

Union Budget suggests treating Security Transaction Tax as advance income tax

Baisakhi Ganguly 9 years ago

It has been suggested in the Union Budget that Security Transaction Tax (STT) should be treated as advance income tax such as TDS and income... Read More

Managerial services from a UK Company to an Indian Company cannot be treated as “fees for technical services” 4 min read

• Income Tax

Managerial services from a UK Company to an Indian Company cannot be treated as “fees for technical services”

Baisakhi Ganguly 9 years ago

It has recently been held in the case filed by Cummins Limited, 49-51, Gresham Road, Staines, Middlesex, TW18 2BD, United Kingdom being A.A.R. No1152 of... Read More

Addition cannot be allowed solely based on information received from the sales-tax department 4 min read

• Income Tax

Addition cannot be allowed solely based on information received from the sales-tax department

Baisakhi Ganguly 9 years ago

The Income Tax Appellate Tribunal, Mumbai in the cases of ITA No.4547/Mum/2014,ITA No.2545/Mum/2014 and ITA No.1275/Mum/2014 has held that addition cannot be allowed solely based... Read More

Assessing Officer should dispose of the objections before making order of re-assessment 3 min read

• Income Tax

Assessing Officer should dispose of the objections before making order of re-assessment

Baisakhi Ganguly 9 years ago

The Gujarat High Court in the case of Palco Metals Ltd. vs. Deputy Commissioner of Income Tax, 2016 (1) TMI 235 has held that the... Read More