Taxcharcha

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CGST CircularsGSTGSTLatest

Circular No. 76/50/2018-GSTClarification on certain issues (sale by government departments to unregistered person; leviability of penalty under section 73(11) of the CGST Act; rate of tax in case of debit notes / credit notes issued under section 142(2) of the CGST Act; applicability of notification No. 50/2018-Central Tax; valuation methodology in case of TCS under Income Tax Act and definition of owner of goods) related to GST

Team Taxcharcha
by Team Taxcharcha03423
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Income TaxIncome TaxIncome TaxLatestLawNewsRecent Case LawsTax

The assessee can be taxed only on the gain which is oozing out from the sale consideration, thus, no adverse inference can be drawn while invoking the provision of section 50C of the Act. – Bombay High Court

Team Taxcharcha
by Team Taxcharcha0559
Held :  “The assessee can be taxed only on the gain which is oozing out from the sale consideration, thus, no adverse inference can be...
Income TaxIncome TaxIncome TaxLatestRecent Case Laws

HC wrong in taking the technical view of dismissing the appeal on the ground of delay when it has to decide the question of law between the parties in any case in respect of earlier assessment year – Supreme Court

Team Taxcharcha
by Team Taxcharcha0491
Held :  The High Court should not have taken such a technical view of dismissing the appeal in the instant case on the ground of delay,...
Income TaxIncome TaxIncome TaxLatestRecent Case LawsTax

The exemption of Rs. 50 lakh in s. 194-IA(2) is applicable w.r.t. the amount related to each transferee and not with reference to the amount as per sale deed. Each transferee is a separate income tax entity and the law has to be applied with reference to each transferee as an individual transferee / person – ITAT Delhi

Team Taxcharcha
by Team Taxcharcha0779
ITAT Delhi in the judgement of Vinod Soni Vs. ITO TDS Faridabad in ITA No. 2736/Del/2015  held the following: Section 194-IA(2) provides that Section 194-IA(1)...