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Goods & Services Tax by Yuvraj

Penalties under GST

Having told you about the various offences under GST in my previous article, now I will tell you about the penalties that will be attracted in case of those offences being committed.

Case Law,Jun. 19, 2017
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Income Tax by Arpit Kakar
Case Law,Jun. 10, 2017

Everyone wants to save on taxes, including the rich….The rich guys always find some loophole in tax laws, for its advantage….They will find, as they pay crores of rupees to their tax consultants to save taxes…. Do you have any idea about the modus operandi (method) used…..

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Income Tax by Kanishka Mehta

ITAT held retention money was not assessee’s income, and deleted addition.

In Amarshiv Constructions’ case AO noticed that assessee had deducted Rs 50 lakhs from profits, being retention money retained by assessee’s clients. AO rejected deduction claim and made addition. CIT(A) dismissed assessee’s appeal. ITAT following its Cordinate Bench’s and High Court’s decision in assessee’s own case, held retention money was not assessee’s income, and deleted addition.

Case Law,May. 02, 2017
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