Demands for service tax with interest as applicable has been confirmed against the appellants and equal amount of penalty has also been imposed under Section 78 of Finance Act, 1994. The appellant one non profit organisations registered under Bombay Public Trust Act and is engaged in providing service of health club/sports activities to its members. Though separate orders have been passed, issue involved is same. Hence a common order is passed.
J.K. Industries Ltd. Vs. Commissioner of Income Tax (Calcutta High Court)- When the Board of Directors of the assessee had thought it fit to spend on the foreign tour of the accompanying wife of the Managing Director for commercial expediency, the reasons being reflected in its resolution quoted by us, it was not within the province of the Income-tax Authority to disallow such expenditure by sitting over the decision of the Board, in the absence of any specific bar created by the Statute for such expenditure.
In exercise of the powers conferred sub-section (1) of section 620 of the Companies Act, 1956 (1 of 1956), the Central Government hereby makes the following further amendments in the notification of the Government of India erstwhile Ministry of Law and Justice and Company Affairs (Department of Company Affairs) number, SRO 355, dated the 7th January, 1957, namely :- In the said notification, in paragraph (2), sub-paragraph (i) shall be omitted. This notification shall come into force on the date of its publication in the Official Gazette.
whether Jaljira which is a product manufactured by the respondent herein is only an appetizer and is not a masala and therefore liable to sales tax at the rate of 10% and not 16% ….. There is no doubt that Jaljira is a drink. The contents of Jaljira is put into water and taken as digestive drink but when we look into the manner and method of preparation of the product Jaljira, we find that it is a mixture of different spices after grinding and mixing. Therefore, it is nothing but a Masala packed into packets of different nature/quantity and sold to the consumers. It would, therefore, for all practical purposes would come within the Entry No. 184 and it cannot be said that it would come under the residuary entry as held by the High Court.
Now, therefore, in exercise of the powers conferred by sub-sections (1) and (2) read with the proviso to sub-section (4) of section 83 of the said Act, and of all other powers enabling it in this behalf, the Government of Maharashtra hereby, makes the following rules further to amend the Maharashtra Value Added Tax Rules, 2005.
In rule 21 of the Maharashtra Value Added Tax Rules, 2005 (hereinafter referred to as the principal Rules ) in sub-rule (1), for the brackets, figures and words (3) and (4) of section 23 the brackets, figures, letters and words (3), (3A) and (4) of section 23 shall be substituted and shall be deemed to have been substituted with effect from the 1st April 2005.
The Supreme Court today remanded Pune stud farm owner Hasan Ali Khan in Enforcement Directorate”s custody for four days, while pulling up the trial court judge who had granted bail to him dismissing the agency”s plea for his remand in a money laundering case. A bench of justices B Sudershan Reddy and S S Nijjar said it was “deeply disturbed” at the manner in which the trial court judge had rejected the ED”s contention and granted bail while giving a lengthy order for it.
In continuation with their endeavour to help the Corporate sector in India operate with maximum ease in a regulated environment, the Ministry of Corporate Affairs (MCA) has issued two General Circulars (the circulars) in last week in relation to simplifying the process of incorporating a Company in India (General Circular No. 6/2011 dated 8 March 2011) and making compulsory e-payment of fee to the MCA General Circular dated 9 March 2011.
Views expressed by smaller bench of a Supreme Court in the case of Azadi Bachao Andolan on tax avoidance are binding on the High Courts because it has interpreted the decision of the larger bench in the case of Mcdowell & Company. Accordingly, the transactions was not a colourable transaction.
The use of internet is growing rapidly in India. Buyers of Insurance products increasingly access / visit websites to know the features and to compare prices of the products offered by different insurers. This has led to the emergence of dedicated websites known as ‘web aggregators’ offering information on insurance products. The concept of web aggregator is of online enquiry or shopping where a client could get information and premium quotes on all types of policies across Insurance companies at one point.
