consonance

From the above facts, it is clear that Once the society during a period of almost 12 years has not carried out any activity, except purchasing land, to construct school/college building for imparting education, which was the main object of the society the activities of the trust for granting approval under section 80G cannot be called genuine and the CIT was fully justified in refusing to grant approval u/s 80G of the Income-tax Act. Hence, the order of Commissioner of I.. Full Article

In the apex court litigants and lawyers have been paying a insignificant fee for filing appeals or vakalatnama for more than 40 years, but it may register a 20-fold boost as per a current proposal being examined by law minister Veerappa Moily. Full Article

Gilbs Computer vs. ITAT (Bombay High Court) The assessee, having been assessed to a loss of Rs. 9 crores, filed an appeal before the Tribunal. S. 253 (6) provides that if the assessed ‘total income’ is “less” than Rs. 1 lakh, a fee of Rs. 500 for filing the appeal is payable while if the [...] Full Article

The Minister for Corporate Affairs, Mr Salman Khurshid, Yesterday introduced the Companies Bill, 2009 in the Lok Sabha. The main objectives of the Companies Bill, 2009 are as follows -(a) to revise and modify the Companies Act, 1956 in consonance with the changes in the national and international economy;(b) to bring about compactness by deleting [...] Full Article