Timelines For Uploading TRAN-1 For Seeking Credit And Revision Of Credit Cannot Be One: Madras High Court
2 years, 3 months ago

Timelines For Uploading TRAN-1 For Seeking Credit And Revision Of Credit Cannot Be One: Madras High Court

Live Law  

The Madras High Court has held that the timelines for uploading of TRAN 1 for seeking credit as well as seeking revision of the credit cannot be one and the same as it leads to an unworkable position. The single bench of Justice Anitha Sumanth has observed that the time limit for revision of a TRAN-1 return be identical to the timeline for filing of a return seeking transition. The rule provides that every GST registrant who claims transition of credit in terms of Section 140 is to file a declaration on Form GSTR TRAN-1 in the common GST Portal within 90 days. Rule 120A did not specify a time limit for revision, but it did state that the limits could be deduced from the timelines outlined in Rule 117.

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Filing Return By Due Date U/s 139 Is Mandatory For Political Party To Claim Exemption U/s 13A: Delhi ITAT Refuses To Stay Recovery Against Congress Party
9 months, 2 weeks ago

Filing Return By Due Date U/s 139 Is Mandatory For Political Party To Claim Exemption U/s 13A: Delhi ITAT Refuses To Stay Recovery Against Congress Party

Live Law  

While holding the argument that an assessee is entitled to a stay on the recovery proceedings on payment of 20% of the demand during the pendency of appeal before the Tribunal, as too general, the New Delhi ITAT dismisses the stay application of Indian National Congress treating it as meritless. At the same time, on the merits of the matter, …

In The Absence Of A Full And True Disclosure, Reassessment Is Not Barred By Limitation: Madras High Court
2 years, 1 month ago

In The Absence Of A Full And True Disclosure, Reassessment Is Not Barred By Limitation: Madras High Court

Live Law  

The Madras High Court has held that the criminal investigation wing is separate and distinct from the assessment wing and that disclosure made before one wing will not exonerate the assessee from the requirement of making a "full and true disclosure" before the assessing officer in an assessment.The single bench of Justice Anitha Sumanth has observed that in the absence …

Period Of Limitation Under S.153 Of Income Tax Act Applies To Remand Proceedings : Madras HC
2 years, 6 months ago

Period Of Limitation Under S.153 Of Income Tax Act Applies To Remand Proceedings : Madras HC

Live Law  

The Madras High Court recently observed that the period of limitation under the Sections 153 or 153 was applicable even for remad proceedings before the Assessing Officer, Transfer Pricing Officer or the Dispute Resolution Panel. By a common order dated 18.12.2015, the Tribunal allowed the appeals by setting aside the orders of the assessing officer and remanding the matter to …

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