Home Highlights August 2016 Year 2016 This

You may also like:

1. Re-assessment - Time limitation for notices issued - period of limitation enhanced from 5 years to 6 years - Prospective or retrospective amendment - 5 year period...

2. Assessment after re-organization of Business - amalgamation or demerger or merger - To remove the difficulty of filling of return by successor it has been proposed to...

3. 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...

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. Levy of penalty under Rule 12 (6) of Central Excise Rules - late filing of Returns (ER-1) for the period July, 2017 to February, 2018 - There is no saving Clause in the...

6. Imposition of penalty - non-filing of Annual Return containing details of inputs for the period 2004-05 - other than the non-filing of return, no other allegation has...

7. Scope of section 80A(5) - Revised return was not permissible and revised return of revised return is not thought of by the legislature. Thus, u/s 139(5) once return is...

8. CENVAT Credit - common input services for trading goods - Rule 6(5) starts of non-obstante clause ‘notwithstanding’, which would indicate that the provisions of Rule...

9. Customs Cargo Service Provider (CCSP) - Suspension of their CCSP approval and imposing a penalty - Demand of value of pilfered goods - custodian of Speedy CFS -...

10. Correctness of erasure of credit already availed by prospective invalidation of eligibility for retention of credit that would subject those services already procured...

11. New claim of capital losses in the revised return - Return filed within the due date prescribed u/s 139(5) but subsequent to the due date prescribed u/s 139(1) -...

12. Deduction u/s. 80IB(10) - non filling of return on time - the ITAT held that the return filed beyond the due date cannot claim deduction under section 80IB(10) as per...

13. 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...

14. Levy of penalty - non filling up of Part 'B' of the e-Way Bill - existence of mens rea or not The High Court referenced a specific case and highlighted that the issue of...

15. Extenuation of period of Limitation - Period for reopening of an assessment was already expired - extending the period of limitation from 5 years to 6 years to be not...