As on November, 1998, the word company or firm was not included under definition of section 65(31) and section 66A had come into force w.e.f 18-4-2006, therefore, service tax was not applicable to a foreign company for rendering service in India for the period November, 1998 to December, 2000
No provision similar to the provision enabling both the CIT(A) and the Tribunal to admit appeals presented beyond the period of limitation if they are satisfied that there was sufficient cause on the part of the appellant for not preferring the appeal within the period of limitation prescribed under the Act is framed in the context of appeals to the High Court under s. 260A.
Assessee having failed to prove the identity of the non-resident donors who are said to have gifted substantial amounts to him from their NRE accounts by producing them personally or copies of their passports and also failed to prove the creditworthiness of the said donors, the alleged gifts cannot be treated as genuine, more so since the assessee had no direct relationship with the donors, there was no occasion for making the gifts, and there was no contact between the parties for almost ten years before the time of said gifts.
This has been made clear in the proviso to s. 220(2) as per which where as a result of order under ss. 154, 155 and 245D etc. amount on which interest is payable is reduced the interest would be reduced accordingly. Therefore the interest under s. 220(2) will be legally leviable from the date of default in payment of demand by the assessee till the date of admission of the application by the assessee by Settlement Commission under s. 245D(1).
Where a hospital engaged consulting doctors and provided them with consulting chambers with secretaries assistance and the fees collected from out-patients and paid to the consultants each day after deducting certain amount towards rent and secretarial assistance, it was not a case of payment of professional fee and neither s. 192 nor s. 194J was attracted and the hospital cannot be treated as assessee in default for not deducting tax from such payments.
For the purposes of trading and settlement operations, you are advised to inform the rading/clearing members of your Stock Exchange accordingly
communicate to SEBI, the status of the implementation of the provisions of this circular in the Monthly / Quarterly Development Report
In exercise of the powers conferred by sub-section (2A) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby makes the following further amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 21/2002- Customs, dated the 1st March, 2002 , published in the Gazette of India, Extraordinary vide number G.S.R.118 (E) , dated the 1st March, 2002, namely:-
Of the three years, the CIT granted stay for two years and directed the AO to realize the demand for AY 2010-11 amounting to Rs. 7.69 crores. No reasons were given for the decision. Despite the stay granted by the CIT, the AO issued garnishee notices u/s 226 (3) for the entire amount of Rs. 59.06 crores. The assessee filed a writ petition to challenge the same. HELD allowing the Petition:
The Ministry of Corporate Affairs has specified five new categories of professions that are eligible for forming firms under the new limited liability partnership Act. Already approved by the Cabinet, these professions are over and above the earlier categories of chartered accountants, cost accountants and company secretaries to form LLP firms.
