"19 March 2017" Archive

ITAT cannot dismiss appeal without considering merits

Balaji Tirupati Enterprises Vs Commissioner Of Income Tax And Another (Allahabad High Court)

It appears a little strange that when the assessee either himself or through his authorized representative is not attending the hearing to argue the case, still the Tribunal has to decide the appeal on merits. ...

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In Departmental Proceedings, Inquiry Officer is Quasi Judicial Officer

Syed Mansoor Hasan Rizvi Vs Director, Local Bodies and others (Allahabad High Court)

It is trite law that the departmental proceedings are quasi judicial proceedings. The Inquiry Officer functions as quasi judicial officer. He is not merely a representative of the department....

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Assessee need not continue compounding scheme till completion of work under KVAT Act

KNR Construction Ltd. Vs Commercial Tax Officer (Works Contract) (Kerala High Court)

HC held that The mere fact that petitioner's work, which commenced in previous year, had been compounded for that year would not require continuance under the scheme in subsequent year, for reason of there being no provision available requiring such a continuance....

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Deduction U/s. 80IA(4) eligible on lease rental income from open yard

The DCIT, Circle-1(2) Vs Belair Logistics Limited, (ITAT Hyderabad)

The assessee claimed deduction under section 80IA(4) on total income including the income received from lease rental on open yard. The A.O. observed that since open yard is not an infrastructure facility within the meaning of Section 80IA(4) of the Act, ...

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Can GST implementation end Tax Terrorism by State Revenue officials?

Flipkart India Pvt. Ltd Vs State of U.P. & Others (Allahabad High Court)

It clearly shows that State VAT department has literally plundered most of the assets of a company without any legal justification. Now, these commercial tax officials would also be part of GST machinery....

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Checklist for correction of Info wrongly furnished U/s. 7 of CA 2013

Article provides Checklist for Correction of Information wrongly furnished under section 7 (Incorporation of Company) of Companies Act, 2013 keeping in view the NCLT Rules, 2016...

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Posted Under: Income Tax |

Dispense of shareholder Meeting under Companies Act, 2013

By Notification dated 7th December, 2016 MCA has notified the sections of M&A under Companies Act, 2013 (Section 230-240). In this Flash editorial, the auditor begins by referring the provisions of section 230-240 relating to Meeting of Shareholders & Creditors and also makes an attempt to light up on provisions of dispense of Shareholder...

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Posted Under: Income Tax |

Dont use frivolous tax arguments to avoid paying tax: IRS

Frivolous Tax Arguments: Dont use frivolous tax arguments to avoid paying tax. Promoters of frivolous schemes encourage taxpayers to make unreasonable and outlandish claims even though they have been repeatedly thrown out of court. ...

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Posted Under: Income Tax |

Shifting of Registered Office of Company with in State

Every company is governed in accordance with the provisions of the Companies Act, 2013 therefore, it is mandatory for all companies to keep the Registrar of Companies informed about the location of the registered office and changes....

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Posted Under: Income Tax |

Process to Shift Registered Office of company from One State to Other

A registered office is the official address of a company to which all official letters and reminders will be sent by any person, any government or non government or regulatory body. In terms of Section 7 of the Companies Act, 2013 (the Act)...

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Posted Under: Income Tax |
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