"03 May 2017" Archive

Assessee entitled for Credit of TDS deducted in erstwhile name

I Gate Infrastructure Management Vs DCIT (ITAT Bangalore)

The credit of TDS deducted and deposited in the old name and old PAN No. and the credit of the same was not given to the assessee on account of mismatch, though entity is the same....

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No Service Tax on Service provided by Club to its Members

M/s DLF Recreational Foundation Ltd. Vs CST, New Delhi (CESTAT Delhi)

There are no operative legislative provisions of the Act legitimising the levy and collection of service tax from the appellants, for providing Club or association service, in so far as these relate to any services provided to members of these appellants....

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Bank to pay compensation for not informing about Rejection of loan to applicant

Bank of Baroda Vs Mr. Jayprakash R. Kushwaha (State Consumer Disputes Redressal Commission, Mumbai)

It appears that the Ld. Advocate appearing for the Appellant has mainly contested the appeal on the ground that under such circumstances Opposite Party Nos. 1 and 2 are not required to pay compensation of Rs.1,00,000/- to the complainant. However, we are of the opinion that contention of the Opposite Party Nos. 1 and 2 in this respect can...

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Posted Under: Income Tax |

A Bank Should Be Something One Can “Bank” Upon

I wish to try and simplify the mechanics of how a bank works, why we put our savings into banks, what does a bank do with our savings, when should we question which bank are we banking with, and why when such questions are asked en masse, is there a banking crisis and economic growth comes to a screeching halt....

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Posted Under: Income Tax |

Politician Mother disowns 3rd Child to avoid disqualification

Anita W/o Eknath Hatkar Vs Additional Commissioner Nashik and Ors. (Supreme Court of India)

The appellant had approached this Court, aggrieved by the proceedings initiated against her for disqualification on the ground of having three children, the third child having born after the cut-off date....

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No Penalty if Quantum Appeal been decided in favour of Assessee

M/s. KPMG Vs Additional C.I.T. (International Taxation) (ITAT Mumbai)

Since the very basis for levy and upholding of penalty under section 271C of the Act by the authorities below for assessment years 2000- 01 and 2002-03 to 2004- 05 does not survive, the orders levying/upholding the aforesaid penalty are not sustainable....

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Intensive Certification Course on GST by CA Raman Singla

This two-day workshop provides participants with the knowledge and skills to build, maintain, and control well-formed Taxation. Join this workshop and generate savings for your business and have an upper edge in GST....

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Posted Under: Income Tax | ,

Formula One…Whats the Game?

You would be aware that, recently Supreme Court upheld the decision of Delhi High Court in the case of Fomrula One that it does have Permanent Establishment [PE] in India....

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Posted Under: Income Tax |

GST Transition- Input Tax Credit of Excise Duty to VAT Dealers

The First step towards the transaction of GST will be the carry forwarding of the Inputs held in stock on the appointed day and its quantification thereof. Sections 139 to 142 of the GST Act, 2017 deals with transition provisions....

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Posted Under: Income Tax | ,

Format of board /special resolution for striking off of companies

Author has compiled format of board resolution and special resolution for Striking off of Companies name under section 248 of Companies Act, 2013 with the help of relevant sections & rules. ...

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Posted Under: Income Tax |
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