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Showing posts from April, 2024

Case Law (SC) – Supreme Court uphold the decision of Tribunal holding that the activity of teaching yoga is a taxable service under Service Tax and falls under the health and fitness service .

  “Delay condoned.  We do not find any reason to interfere with the impugned judgment and order. The appeal is accordingly dismissed.” Patanjali Yogpeeth Trust v. Commissioner Of Central Excise, Meerut-I, CIVIL APPEAL Diary No. 5145/2024 dated 19.04.2024
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Circular -- CBDT issued long list of exception in which Monetary limits given in filing departmental appeals to be filed before ITATs and HCs and SLPs/ appeals before SC will not be apply.

 Circular No. 5/2024 dated 15.03.2024 “3.1 Monetary limits given in paragraph 4 with regard to filing appeal/SLP shall be applicable to all cases including those relating to TDS/TCS under the Act with the following exceptions where the decision to appeal/file SLP shall be taken on merits, without regard to the tax effect and the monetary limits: a. Where any provision of the Act or the Rules or notification issued thereunder has been held to be constitutionally invalid, or b. Where any order, notification, instruction or circular of the Board or the Government has been held to be illegal or ultra vires the Act or otherwise constitutionally invalid, or c. Where the assessment is based on information in respect of any offence alleged to have been committed under any other law received from any of the law enforcement or intelligence agencies such as CBI, ED, DRI, SFIO, NIA, NCB, DGGI, state law enforcement agencies such as State Police, State Vigilance Bureau, State Anti-Corrupt...
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Circular -- CBDT granted relief to deductors/collectors who has short deducted/collected TDS/TCS of PAN holders whose PAN was inactive for the transactions entered into upto 31.03.2024 and in cases where the PAN becomes operative (as a result of linkage with Aadhaar) on or before 31.05.2024, then there shall be no liability on the deductor/collector to deduct/collect the tax under section 206AA/206CC, as the case maybe, and the deduction/collection as mandated in other provisions of Chapter XVII-B or Chapter XVII-BB of the Act, shall be applicable.

Circular No. 6/2024 dated 23.04.2024 " Sub: Partial modification of Circular No. 3 of 2023 dated 28.03.2023 regarding consequences of PAN becoming inoperative as per rule 114 AAA of the Income-tax Rules, 1962- reg. Circular No. 3 of 2023 dated 28.03.2023 issued by the Board details the consequences of PAN becoming inoperative as under: “Consequent to the notification substituting rule 114AAA of the Income-tax Rules, 1962 (the Rules) vide notification no. 15 of 2023 dated 28th March, 2023, it is hereby clarified that a person who has failed to intimate the Aadhaar number in accordance with section 139AA of the Income-tax Act, 1961 (the Act) read with rule 114AAA shall face the following consequences as a result of his PAN becoming inoperative: (i) refund of any amount of tax or part thereof, due under the provisions of the Act shall not be made to him; (ii) interest shall not be payable to him on such refund for the period, beginning with the date specified under sub-rule...
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Circular -- CBDT extended the due date for filing Form 10A/10AB up to 30.06.2024 for A Y 2022-23 for existing trust, institution or fund who had failed to file Form within the due date as extended by the CBDT circular no. 6/2023 dated 24.05.2023. If such trust subsequently, applied for provisional registration as a new trust, can avail the option to surrender the said Form No. 10AC and apply for registration for A Y 2022-23 as an existing trust.

Circular No. 7/2024 dated 25.04.2024 " Sub: Extension of due date for filing of Form No. 10A/10AB under the Income-tax Act, 1961- reg. On consideration of difficulties reported by the taxpayers and other stakeholders in the electronic filing of Form No. 10A/10AB, the Central Board of Direct Taxes (the Board) in exercise of its powers under section 119 of the Income-tax Act, 1961 (the Act) extended the due date for filing Form No. 10A to 31.08.2021 by Circular No. 12/2021 dated 25.06.2021, to 31.03.2022 by Circular No. 16/2021 dated 29.08.2021, to 25.11.2022 by Circular No. 22/2022 dated 01.11.2022 and to 30.09.2023 by Circular No. 6/2023 dated 24.05.2023, and extended the due date for filing Form No. 10AB to 30.09.2022 by Circular No. 8/2022 dated 31.03.2022 and to 30.092023 by Circular No. 6/2023 dated 24.05.2023. 2. Representations have been received in the Board with a request to condone the delay in filing Form No. 10A/10AB, as the same could not be filed in such cases wit...
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Notification -- Directorate of Systems, CBDT, clarified that if the e-verification/lTR-V is submitted within 30 days of uploading then he return of income shall be considered as the date of furnishing the return of income otherwise the date of e-verification/ITR-V submission shall be treated as the date of furnishing the return of income and all consequences of late filing of return under the Act shall follow, as applicable.

 "2. It is clarified that:  (i) Where the return of income is uploaded and e-verification/lTR-V is submitted within 30 days of uploading – In such cases the date of uploading the return of income shall be considered as the date of furnishing the return of income.  (ii) Where the return of income is uploaded but e-verification or ITR-V is submitted after 30 days of uploading – In such cases the date of e-verification/ITR-V submission shall be treated as the date of furnishing the return of income and all consequences of late filing of return under the Act shall follow, as applicable." Notification No. 2 of 2024 dated 31.03.2024
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