Home Highlights February 2017 Year 2017 This

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1. Standard Operating Procedure (SOP) for Scrutiny of GST returns for FY 2017-18 and 2018-19

2. Constitutionality of Explanation to Section 10AA (1) - Exemption to SEZ unit - As principle of legitimate expectation is not applicable to the case of the petitioner and...

3. Assessment u/s 153A - In the case on hand, the search was conducted on 10.08.2017 and the relevant six assessment years immediately preceding the assessment year...

4. Seeks to waive filing of FORM ITC-04 for F.Y. 2017-18 & 2018-19 - details of all the challans in respect of goods dispatched to a job worker

5. Reopening of assessment u/s 147 was challenged due to lack of material relating to alleged wrongful IGST refunds for assessment year 2020-21. Disallowable expenditure...

6. Assessee's contention upheld that for AY 2019-20, profit is required to be set off against business loss of AY 2018-19 and remaining profit against brought forward...

7. CBDT notifies new Income Tax Return Forms for AY 2017-18 - Circular

8. Disallowance of deduction claimed u/s 10AA after claiming deduction / exemption u/s 10A - SEZ unit - As on the commencement of assessment year 2006-07, which is the...

9. Petitioners challenged adjudication order passed u/s 73(9) of CGST/WBGST Act, 2017. Court noted Rs. 3,96,08,142/- was reversible as petitioners availed ITC by filing...

10. Seeking adjustment of GST amount deposited by the petitioner in the financial year 2018- 19, which inadvertently could not be deposited in the financial year 2017-18 -...

11. CENVAT Credit - capital goods - In the instant case, the capital goods are installed after commencement of production in the year 2016-17. The credit would have been...

12. SEZ unit - Deduction u/s 10AA - conversion of EPZ unit to SEZ unit - eligibility for additional 5 years after availing benefit of exemption u/s 10A for 10 years -...

13. The court found that the factual position was not in dispute. The authority made assessments for the financial years 2017-18 and 2018-19 based on an intelligence report....

14. Validity of revised return 139(5) - Revised return did not conform to the prescription of section 139(5), before its substitution w.e.f. A.Y. 2017-18, which provided for...

15. Cancellation of registration - to state that registration will not be revived since the petitioner has incorrectly availed of ITC would be putting the cart before the...