2022-TIOL-NEWS-164 Part 3 Dated: Thursday, July 14, 2022

2022-TIOL-NEWS-164 Part 3 | July 14, 2022

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TIOL AWARDS

INCOME TAX


	2022-TIOL-749-ITAT-CHD Sai Apartments And Infrastructure Vs DCIT Whether no addition can be made merely based on surrender letter when details of payments are fully explained before tax authorities - YES : ITAT - Assessee's appeal partly allowed: CHANDIGARH ITAT 2022-TIOL-748-ITAT-BANG Cicilia Pinto Vs ACIT Whether 902-days delay in filing appeal is condonable where the assessee has not provided any proper explanations or reasons for the same - NO: ITAT - Assessee's appeal dismissed: BANGALORE ITAT 2022-TIOL-747-ITAT-AHM Anup Kiritbhai Patel Vs ITO Whether additions framed u/s 44AD are invalid where AO has wrongly treated the open outstanding contracts as closing/opening stocks of the assessee and made re-working of profit - YES: ITAT - Assessee's appeal allowed: AHMEDABAD ITAT

MISC CASE


	2022-TIOL-959-HC-KERALA-VAT Southern Ispat And Energy Ltd Vs State of Kerala On considering the revision petition, the High Court observes that the orders passed by the authorities need no interference, except to the extent of penalty. Taking into consideration the attendant circumstances the value of goods transported etc., the court reduces the penalty by 50%. - Revision petition partly allowed: KERALA HIGH COURT

NEWS FLASH

India detects first suspected case of monkeypox in Kerala + WTO to host review meet on next Thursday

Maharashtra finally trims VAT on petrol & diesel; to lose Rs 6000 Cr

Singapore says Lankan President not granted asylum; private visit allowed

3 die of Ebola-like disease in Tanzania; Probe rolled out

SC sets aside Patna HC order directing Subrata Roy to appear

Foxconn needs Taiwan Govt's nod to invest in Chinese chip firm

Greek copter dousing wild fire crashes with two men into sea

TOP NEWS

RoSCTL scheme extended till Mar 31, 2024 for export of garments and made-ups

India's overall exports leap up by 23% in June

Govt sets up committee to develop framework on Right to Repair

GUEST COLUMN

By Shailesh Sheth

GST @5 - Promising possibilities; Daunting challenges! - Part II

A humble attempt is made here to identify the defects [in GST law as detailed in Part I] and the possible remedies to eliminate or at least control their ill-effects...

By B N Gururaj

Fake Invoices and CBIC's Benevolent Circular

AFTER lapse of considerable time, the CBIC has issued half a dozen circulars on 6th July. The circular of interest for this article is No. 171/03/2022-GST, dated 6.7.2022. This circular addresses the representations made...

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