"December, 2012" Archive

Daily allowance paid to employees are similar to hotel expenses for disallowance u/s. 37(3A) to 37(3D)

Novopan India Ltd. Vs Commissioner of Income-tax, Hyderabad (Andhra Pradesh High Court)

A reading of the provision of section 37(3A) to (3D) indicates that where the expenditure or as the case may be, the aggregate expenditure incurred by an assessee on any one or more of the following; i.e. (i) advertisement, publicity, sales promotion (ii) running and maintenance of air craft and motor cars and (iii) payments made to hotel...

Read More

Assessment of preceding years in search cases during election period

Circular No. 10/2012-Income Tax 31/12/2012

Circular No. 10/2012-Income Tax As per provisions contained in section 153A and 153C of the Income Tax Act, 1961, the Assessing Officer is required to issue notice for assessing or reassessing the total income for six assessment years immediately preceding the assessment year relevant to the previous year in which search is conducted or ...

Read More

Public Notice No. 42 (RE-2012)/2009-14, Dated: 31.12.2012

Public Notice No. 42 (RE-2012)/2009-14 31/12/2012

In exercise of powers conferred under paragraph 2.4 of the Foreign Trade Policy 2009-2014, the Director General of Foreign Trade hereby makes the following amendments in the Handbook of Procedures (Vol. I) (Appendices and Aayat Niryat Forms) 2009-2014....

Read More

No TDS on specified Nature of payment to Scheduled Bank

Notification No. 56/2012-Income Tax 31/12/2012

Income Tax Government hereby notifies that no deduction of tax under Chapter XVII of the said Act shall be made on the payments of the nature specified below, in case such payment is made by a person to a bank listed in the Second Schedule to the Reserve Bank of India Act, 1934 (2 of 1934), excluding a foreign bank, namely:-...

Read More

Power to rectify a mistake u/s. 254(2) cannot be used for recalling entire order

Seven Hills Business Solutions Vs Assistant Commissioner of Income-tax (ITAT Hyderabad)

The words used in s. 254(2) are 'shall make such amendment, if the mistake is brought to its notice'. Clearly, if there is a mistake, then an amendment is required to be carried out in the original order to correct that particular mistake. The provision does not indicate that the Tribunal can recall the entire order and pass a fresh decis...

Read More

Notification No. 68/2012-Customs, Dated: 31.12.2012

Notification No. 68/2012-Customs 31/12/2012

all goods, other than the goods specified in TABLE II, of the description specified in column (3) of the TABLE I here to annexed and falling under the Chapter, Heading, Sub-heading or Tariff item of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975), and specified in the corresponding entry in column (2) of the said TABLE...

Read More

Redefinition of Business Affairs through Limited Liability Partnership Route

Limited Liability Partnership (LLP) is a corporate business vehicle, identifiable by entity’s name containing 'Limited Liability Partnership' or 'LLP' as suffix, a new business structure in Indian Corporate, that enables professional expertise and entrepreneurial initiative to combine, organize and operate in innovative, flexible and ef...

Read More
Posted Under: Income Tax |

Amendment in Concessional Duty rate of Goods imported into India from Malaysia

Notification No. 67/2012-Customs 31/12/2012

In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby makes the following further ...

Read More

Amendment in Concessional Duty rate of Goods imported into India from Korea

Notification No. 66/2012-Customs 31/12/2012

In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby makes the following further amendments in ...

Read More

Amendment in Duty rate of Goods imported into India from Japan

Notification No. 65/2012-Customs 31/12/2012

In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby makes the following further ...

Read More

Search Posts by Date

November 2021
M T W T F S S
1234567
891011121314
15161718192021
22232425262728
2930