Tax Guru

Timing of Tax Liability in Transfer under an Unregistered JDA

Capital gains liability for non-individual taxpayers under an unregistered Joint Development Agreement (JDA) arises immediately upon execution and granting enjoyment rights (AY 2020-21), based on ...
Tax Guru

SC Expands Fixed Place PE: Effective Control Over Physical Presence

The Supreme Court's ruling on Permanent Establishment (PE) expands taxability for MNEs, holding that "effective control and continuous direction" through operational continuity, even without a ...
Tax Guru

Treaty Protection and TRC: A Clear Guide for Stakeholders

Recent ITAT and High Court rulings confirm the Tax Residency Certificate (TRC) is key to claiming DTAA benefits, reinforcing ...
Tax Guru

ITAT Chandigarh Slams ‘Misuse of Authority’, Deletes Wrong Income Addition by Tax Consultant

ITAT Chandigarh deleted a wrongful addition, condemning tax authorities' misuse of authority for taxing income a consultant mistakenly declared. The ruling asserts that Income Tax Authorities must ...
Tax Guru

No ITC on Pre-Registration Stock if GST Registration Filed Late: Rajasthan Circular

Rajasthan GST circular directs officers to reject Input Tax Credit claims for taxpayers who register after 30 days from becoming liable, ensuring compliance under Section 18 of the RGST Act, ...
Tax Guru

Writ challenging order rejecting GST refund not entertained due to available statutory remedy

Patna High Court held that petition against order rejecting GST refund cannot be entertained in view of available statutory remedy under section 107 of the Bihar Goods and Services Tax Act, 2017.
Tax Guru

Faceless Assessment Notice Challenge Dismissed as Alternate Remedy Available

Calcutta HC ruled on challenging a Faceless Assessment order, directing the taxpayer to file an appeal when an objection to the 143(2) notice wasn't raised ...
Tax Guru

Delay in filing of return condoned as assessee was ignorant about TDS deducted

Gujarat High Court held that non-filing of Income Tax Return as ignorant about deduction of TDS on account of land acquisition reasonable. Accordingly, delay condoned and petitioner allowed the file ...
Tax Guru

GST ITC on Electricity Infrastructure Outside Factory Premises

GST rulings clarify ITC eligibility on high-tension electricity infrastructure installed outside factory premises. Movable ...
Tax Guru

Trading was not considered as service under Cenvat Credit Rules; matter was remanded for recalculation of recoverable credit and penalty

Since common input services were used for both taxable output and trading, assessee was required to reverse proportionate credit attributable to trading along with interest. Penalty under Rule 15(3) ...
Tax Guru

Excel Sheet recovered email could be relied upon for valuation even without sec.138C certificate

An Excel sheet recovered from the email account of assessee can be relied upon to determine the value of imported goods, even without a certificate under Section 138C as Section 138C applies only when ...
Tax Guru

Information Technology (IT) are Vital for Statutory Auditors in India

Indian statutory auditors must embrace IT proficiency and CAATs to manage ERP data and system controls. Non-IT friendly ...