Home Highlights July 2015 Year 2015 This

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1. Transitional Input tax credit - availment of accumulated CENVAT by filing declaration Form TRAN-1 beyond the period provided under CGST Rules - Rule 117 is directory in...

2. Penalty u/s.271AAB - Belated filing of regular return after search - Penalty cannot be levied u/s.271AAB of the Act, in respect of income disclosed in regular return of...

3. Short deduction of taxes - Credit to the assessee for TDS deducted denied - the assessee has deducted and deposited TDS within time, but due to a technical error in CPC...

4. Best judgement assessment - GSTR returns were not filed by the petitioner within the prescribed time limit - At any cost, the right to file the returns cannot be taken...

5. Computation of period for filing appeal as time granted by the High Court - the word “today” mentioned in the order - within a period of two weeks from today, i.e.,...

6. Double taxation of income - Single TDS certificate for two years - AT

7. Penalty u/s 271(1)(c) - employer issued revised TDS certificate with additional salary u/s 192 - Assessee filed the income tax return based on the old TDS certificate...

8. TDS credit - TDS certificate was issued in the name of the previous owner of the bond. - The fact that the TDS certificate refers to assessment year 2005-06 is of no...

9. AIF schemes availing dissolution period or additional liquidation period must file information memorandum/details with SEBI. Formats prescribed for information...

10. Claim for additional input tax credit at the rate - No time limit has been prescribed under the provisions of the Act for making a claim for additional input tax credit....

11. The Appellate Tribunal addressed two issues regarding TDS credit. Firstly, the Tribunal emphasized that income and TDS must align in any assessment year when income is...

12. Credit of TDS - AO cannot simply decline the credit of TDS and he is bound to verify TDS certificate issue in accordance with provisions of law. Further, the AO is also...

13. Levy of late filing fee u/s. 234E - Due to certain technical error committed (incorrect interchanging of PAN numbers of buyer and seller in online filing of Statement...

14. Denial of TDS credit - TDS is not reflected in Form No. 26AS of the assessee - Credit of TDS which was not deductible - We find from updated Form 26AS of the assessee,...

15. Non-grant of TDS credit - When the TDS credit available to the assessee is reflected in Form 26AS then the assessee is even not required to assist the tax authorities to...