PUBLIC NOTICE NO. 63/(RE-2010)/2009-2014 Earlier, in SION, J-373, there were four items, which were allowed for imports. Now, fifth import item i.e “Pesticides (Biocides/Fungicides/Herbicides/Insecticides)” is added in SION, J-373 alongwith Note 3.
Dy. CIT v Niten Hasmukhbhai Shah (ITAT Ahemdabad)- Since the finding of Ld. CIT(A) that there was no oral or written contract with the assessee and the Roopal Roadways which is confirmed by the clarificatory certificate issued by Roopal Roadways, was not disputed by the Revenue at the time of hearing before us, we find no infirmity in the order passed by Ld. CIT(A) holding that provision of section 194C(3) of the Act are not applicable in this case and consequently no addition u/s 40(a)(ia) can be made.
ITO vs. Shanaya Enterprises (ITAT Mumbai) – Merely because income is attached to any immovable property cannot be the sole factor for assessment of such income as income from property; what has to be seen is what was the primary object of the assessee while exploiting the property. If it is found, applying such test, that main intention is for letting out the property, or any part thereof, the same must be considered as rental income or income from property. In case, it is found that the main intention is to exploit the immovable property by way of complex commercial activities, in that event, it must be held as business income.
What is Fast Track Exit (FTE) Mode? Ministry has issued Guidelines for ‘Fast Track Exit (FTE) Mode’ to give opportunity to the defunct companies to get their names struck off from the register under Section 560 of the Companies Act, 1956 in time bound manner. What is the date of implementation of these Guidelines? The Guidelines will be implemented with effect from 3rd July, 2011.
Under SION C-1058, till now, only Tubular Bags (Gaunlet) were permitted as an input at Sl No. 3 of the SION. Now, this is modified to permit an alternate item i.e. relevant sewn Gaunlet cloth. There is no other change.
