The Special Judge, CBI cases, Jabalpur has convicted Shri Y. Brahmane, the then Income Tax Inspector, Income Tax Office, Balaghat (MP) and sentenced him to undergo three years Rigorous Imprisonment with a fine of Rs. 3,000/- in a bribery case. Another accused Shri Sunil Hattele, Daily Wages Employee of Income Tax Office, Balaghat (MP) was also convicted and sentenced to undergo one year Rigorous Imprisonment in the same case.
The contention of the assessee is that the agricultural operations were carried out on the land under consideration. During the course of proceedings before the Assessing Officer, the assessee requested the Assessing Officer to inspect the lands at that stage. The assessee also filed pahani patrika for the financial year 2006-07, the slab pass-book issued by the Electricity Board before the lower authorities. It was also submitted that there was an open well in the land and water was supplied to the crop through electric motor pumping.
Classification of commodity under the Punjab Value Added Tax Act, 2005, is a matter of utmost importance in the charging of tax at the time of sale and purchase and in the assessment, because the application of rates of tax, exemptions and concession deeply, largely on the classification of the commodities, it is not a mechanical because different goods are classified differently by the authorities according to the language of the statute or the notification concerned. That the courts clarified the goods not the rate of tax applicable would be that which has been fixed by the State Government time to time by notifications.
It’s important to note that under the Income Tax Act, 1961, there is mention of only one type of mutual fund. i.e. “Equity Oriented Fund”. It implies that from Income Tax angle mutual fund schemes can be categorized into-(a) Equity oriented fund (Scheme) (b) Non Equity oriented fund (Scheme)
Directive to be given to all co-operative Housing Societies in the Maharashtra State Under section 79 (A) of the Maharashtra Co-operative Societies Act, 1960. Model Bye Laws of Cooperative Housing Society in Maharashtra In respect of applying Co-operative Housing Societies Manual. GOVERNMENT OF MAHARASHTRA No. SAGRUYO-2011/PRA.KRA. 360/14-SA, Co operation, Marketing and Textile Department, Date 15th […]
Ministry of Finance, Department of Economic Affairs (Budget Division)Government has vide its office memorandum No. No. 6-1/2011-NS.II (Pt.) Dated 11th November, 2011 announced increase in interest Rates on small saving schemes which includes interest rate on Public Provident Fund and other schemes. To address the issue of asset-liability mismatch in the National Small Savings Fund (NSSF), the central government has moved towards making returns from small savings instruments benchmarked against the government securities of similar maturities.
The day after the CBFC office at Walkeshwar Road in Mumbai was ransacked allegedly by the MNS supporters, the CEO, CBFC has clarified that its Advisory Panel of 123 members has 47 members, whose mother tongue is Marathi. Almost all the films are certified at the local level by the Advisory Panel, which consist of members drawn from various fields. Only those films, where the producer is not satisfied with the certification granted by the Advisory Panel are referred to the Central Board for screening. Even in its Board, the CBFC has three members –Deepesh Mehta, Arundhati Nag, as wells as the Chairperson, Ms. Leela Samson, who are familiar with Marathi.
Master Circular No. 2/2011 The specified number of companies for the purpose of section 233B (2) read with section 224 (1B) of the Companies Act, 1956 is to be computed for a given financial year with reference to the number of companies wherein he has been appointed as the cost auditor, including those wherein he is proposed to be appointed for which he has given his consent. The number of companies in respect of which cost audit reports have not been submitted and have become overdue shall also be taken into account for the purposes of ceiling under section 224 (18).
S. O______ (E) – In exercise of the powers conferred by sub-section (2) of section 14 of the Customs Act, 1962 (52 of 1962), the Board, being satisfied that it is necessary and expedient so to do, hereby makes the following further amendment in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 36/2001-Cus (N. T.), dated, the 3rd August 2001, namely: –
On a review of developments in the global financial markets and the fact that domestic importers are experiencing difficulties in raising Trade Credit within the existing all-in-cost ceiling, it has been decided to revise the all-in-cost ceiling for Trade Credits as under:
