Day: August 6, 2011
15 articlesIncome Tax
Income Tax
If there is no failure to disclose fully and truly all material facts necessary for the purpose of the assessment, then the reopening of the assessment beyond four years from the end of the relevant assessment year is unsustainable
Income Tax
Income Tax
Interest paid by the assessee, on account of an investment in its sister concern from borrowed funds for the acquisition of shares in a subsidiary company in order to have control over that company, is eligible for a deduction under s 36(1)(iii)
Income Tax
Income Tax
Expenditure incurred on the total reconditioning and overhauling of the machinery, which had outlived its utility, by replacing many vital parts in order to make the same functional cannot be treated as current repairs
Income Tax
Income Tax
When assessee is already granted exemption u/s 10(23C)(vi), fresh application of exemption cannot be rejected
Income Tax
Income Tax
Opportunity of being heard is required to be given to the director of the private limited company before initiation of recovery proceedings pursuant to the issuance of a notice under s 179(1)
Income Tax
Income Tax
When assessee fails to rebut the addition made by the AO in respect of undisclosed income found during the search and also chooses not to file appeal against the huge quantum addition, penalty is warranted in such circumstances
Income Tax
Income Tax
Tax cannot be levied on an amount wrongly paid to a person because of a mistake made by the payer – ITAT Mumbai
Service Tax
Service Tax
Bombay HC upholds Service Tax on Renting of Immovable property
Income Tax
Income Tax
Income tax Department detect and deletes 11.69 lakh Multiple PAN Card
Income Tax
Income Tax
Income Tax Department takes Several Punitive and Deterrent Steps to Unearth Unaccounted Money And Curb Tax Evasion
Excise Duty
Excise Duty
Whether Iron and Steel structures manufactured and used captively in the factory for installation of the Sugar manufacturing plant by the assessee can be classified as capital goods under Rule 57Q of the Central Excise Rules, 1944?
Service Tax
Service Tax
Service tax is payable on Sale of SIM cards, no sales tax – even if Sales tax is wrongly paid, Service Tax is payable – Supreme Court
Corporate Law
Corporate Law
Electricity tariff is leviable at Commercial rates on Residential premises used by advocates for Commercial Activities
Income Tax
Income Tax
