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Archive: 24 April 2012

Posts in 24 April 2012

Live Course on Appeal, Pleading & Drafting under GST by CA Sachin Jain

May 15, 2024 6315 Views 0 comment Print

oin us for an immersive live course led by renowned expert CA Sachin Jain, as we delve into the intricacies of appeal, pleading, and drafting under GST.

Live Course on How to Reply to GST Notices & SCN & to Fake ITC Notices? – Last day to Register

May 15, 2024 19341 Views 0 comment Print

Join our live course to learn expert strategies for replying to GST notices, SCNs, and fake ITC notices. Understand litigation nuances, evidence insights, and practical tips for effective responses. Register now!

Confession of co-accused u/s. 108 Customs Act not admissible if he is not jointly tried with Petitioner

April 24, 2012 8092 Views 0 comment Print

A confession of the co-accused is admissible only under Section 30 of the Evidence Act. One of the essential requirements of the said provision is that the two accused should be tried jointly. Since the confession of the co-accused is not admissible as he is not being jointly tried with the Petitioner and besides this piece of evidence there is no other evidence, no charge can be framed against the Petitioner for offence under Section 135A of the Customs Act.

Section 54EC NHAI Capital Gains Bonds 2012-13 – Tax Benefits

April 24, 2012 6106 Views 0 comment Print

TAX BENEFITS UNDER SECTION 54 EC OF THE INCOME TAX ACT 1961 Section 54 EC relating to exemption on long term capital gains if invested in Bonds was inserted by the Finance Act 2000 effective for the assessment year 2001-2002 and subsequent years from 1st April, 2001. The section as effective for the assessment year 2008-09 and subsequent years from 1st April, 2007 reads as follows:

Tax on Service relating to transportation of goods

April 24, 2012 4767 Views 0 comment Print

The following services provided in relation to transportation of goods are specified in the negative list. Services:- • by road except the services of (i) a goods transportation agency; or (ii) a courier agency • by aircraft or vessel from a place outside India to the first customs station of landing in India; or • by inland waterways.

Tax on Service relating to transportation of passengers

April 24, 2012 8734 Views 0 comment Print

The following services relating to transportation of passengers, with or without accompanied belongings, have been specified in the Negative List. Services by: • a stage carriage; • railways in a class other than (i) first class; or (ii) an AC coach; • metro, monorail or tramway; • inland waterways;

Service Tax on Financial sector

April 24, 2012 1203 Views 0 comment Print

Financial sector Services Covered in Negative List –Services by way of – (i) extending deposits, loans or advances insofar as the consideration is represented by way of interest or discount; (ii) inter se sale or purchase of foreign currency amongst banks or authorized dealers of foreign exchange or amongst banks and such dealers;

Service Tax on renting of residential dwelling used as residence

April 24, 2012 25857 Views 1 comment Print

The phrase ‘residential dwelling’ has not been defined in the Act. It has therefore to be interpreted in terms of the normal trade parlance as per which it is any residential accommodation, but does not include hotel, motel, inn, guest house, camp-site, lodge, house boat, or like places meant for temporary stay.

Make Auspicious Investing Today – It’s Akshaya Tritiya

April 24, 2012 1057 Views 0 comment Print

Investments and sale to consumers does pick up around Akshaya Tritiya, one of the most auspicious days in the hindi calendar to buy gold, silver , jewellery and to make investment. ‘Akshaya’ means some thing which never diminishes. It is believed that all investments on this day appreciates. Infact, as per astrology, each moment today is auspicious. Though Akshaya Tritiya falls on 24th April, people are celebrating and offering discounts and schemes to lure customers through out the week. People are also eager to bring wealth and prosperity to one’s door steps. Not only this, World Gold Council has offered a 6 percent off on gold coins to celebrate Akshaya Tritya and tied up with Indian posts.

Interest leviable u/s 234B on income computed u/s 115JB

April 24, 2012 1709 Views 0 comment Print

Issue is covered by decision of Hon’ble Supreme Court in the case of JCIT vs. Rolta India Ltd. 330 ITR 470 (SC) wherein it has been held that interest u/s 234B and 234C shall be payable for failure to pay advance tax in respect of tax payable u/s 115JA/115JB. Therefore, we hold that learned CIT (A) has rightly decided that interest is leviable u/s 234B in respect of income computed u/s 115JB.

RTI – ITAT Member’s Corruption Charges Can Be Disclosed

April 24, 2012 513 Views 0 comment Print

As is clear from the arguments of Mr. Bhushan, whole attempt was to say that divulgence of ACR is in public interest. That is precisely the CIC is asked to find out. The matter is still at large and the appellant can always argue this before the CIC. What is important is that the procedure under Section 11(1), which is mandatory has to be followed which includes, giving of notice to the concerned officer information whose ACR is sought for.

Punjab VAT Dept, launches drive to survey unregistered dealers liable to be registered

April 24, 2012 747 Views 0 comment Print

Excise and Taxation Department, Punjab has launched a special drive for finding out the unregistered dealers by way of survey u/s 48 of Punjab VAT Act, 2005, who are eligible for registration under Punjab VAT Act but may not have registered as yet.

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