stock

Survey in a wider sense means to scrutinize or to inspect. The power of survey under the Income tax Act has been provided U/S 133A and 133B. The provisions contained in section 133A are independent and to the exclusion of the other provisions of the act since the wording of the section starts with ‘Notwithstanding anything contained in any other provisions of the act . Full Article

and contributed by the assessee to a firm towards capital contribution should be treated as stock in trade even during the course of making the transaction of transferring or contributing the land to the partnership firm as capital contribution, the surplus arising to the assessee from the said transaction of contributing stock in trade to a firm shall then assessable under the head "business" in the view of the colourable device or ruse adopted by the assessee to conver.. Full Article

For the purposes of this exemption, “Crude palm oil” means fixed vegetable oils, fluid or solid, obtained by pressure, if they have undergone no processing other than decantation, centrifugation or filtration, provided that, in order to separate the oils from solid particles only mechanical force, such as gravity, pressure or centrifugal force, has been employed, excluding any absorption filtering process, fractionalization or any other physical or chemical process. .. Full Article

# Allahabad Bank, Zonal Office, Hyderabad invites applications / Biodata in the format as per Annexure-A, from practicing firms of Chartered Accountants of India having an office in the state of Andhra Pradesh and are willing to have their firm empanelled as Stock Auditor in the Bank. The panel of auditors maintained earlier years since expired and will not be used for appointment of internal stock audit jobs and are required to apply afresh. The Bio-data should be su.. Full Article

SUMMARY OF CASE LAW Where the intention of the assessee-company was to purchase and hold the shares of group companies as investment, the loss arising from transactions in the said shares was assessable under the head “income from other sources” Full Article