Home Highlights November 2018 Year 2018 This

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1. Validity of demand of GST - For assessment year 2017-2018 - Notice in Form ASMT-10 issued for discrepancies found in returns - proceedings initiated pursuant to notice...

2. Revision u/s 263 by CIT - The subject matter of the deduction in the reassessment order was the quantum of deduction but not the eligibility of the deduction and even in...

3. Proceedings initiated u/s 144C - legality of the order by framing the so-called draft assessment order - while framing the said draft assessment order, the AO not only...

4. Validity of assessment order - The tribunal questioned the effectiveness and fairness of the assessment procedure, particularly the timing and practicality of issuing...

5. Revision u/s 263 - Assessment u/s 153C - revision of invalid assessment - the present proceedings being collateral proceedings and if the assessment order is inherently...

6. Finalisation of assessment and creation of extra demand - extension of the period of limitation - In the present case, since the assessment year is 2008-09, the period...

7. 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...

8. Subject : Conduct of assessment proceedings through ‘E-Proceeding’ facility during 2018-19-regd.

9. Reopening of assessment u/s 147 - addition u/s 68 - The law regarding reopening of assessment is well-settled. The reliance placed upon the findings of the earlier...

10. Recovery of demand - initiation of Garnishee proceedings - The assessment order and the demand does not remain merely a piece of paper, unless an assessee gets relief by...

11. Reopening of assessment u/s 147 v/s assessment u/s 153C - proceedings initiated u/s 132 - The correct course of reassessment is under section 153C not under section 147...

12. Reopening of assessment u/s 147 consequent to revision proceedings u/s 263 pending - notice u/s 148 issued during the pendency of the assessment proceedings following...

13. Levy of penalty u/s 272A(1)(d) - Non compliance to the notice(s) issued during the course of assessment proceedings - The ITAT noted that the assessee did respond to...

14. Portfolio Management Services (PMS) fees paid is eligible for deduction while computing Short Term Capital Gain

15. Penalty u/s 271C - Short deduction of tax at source (TDS) in respect of Brand fee paid - The argument of the assessee that short deduction does not cause loss to the...