Non-availability of the acknowledgement of the receipt cannot be the sole basis on which the order made can be annulled. The fact that notice was not served on the assessee has to be established by considering all relevant facts. The dispatch number on face of notice is a relevant fact. Once the notice has been issued at the correct address by speed post and same has not been received back then it will be deemed to be served. Therefore, CIT (A) is directed to decide the issue after taking all these relevant facts into consideration.
Companies Bill, 2011 provides for more detailed requirements in the form disclosures/declarations to be made by companies, and their promoters/first directors at the time of Incorporation. Detailed disclosure requirements on continuous basis have also been provided. Additionally, the Bill seeks enhancement of accountability through various clauses of the Bill viz appointment and accountability of Key Managerial Personnel, defining role of independent directors and enhanced penalties/fine/imprisonment etc.
ITO V/s. DG Housing Projects Ltd. In the present case, the findings recorded by the Tribunal are correct as the CIT has not gone into and has not given any reason for observing that the order passed by the AO was erroneous. The finding recorded by the CIT is that order passed by the AO may be erroneous.
The Committee for Capacity Building of CA Firms and Small & Medium Practitioners (CCBCAF & SMP) was formed by combining previously formed Committees, Committee for Capacity Building of CA Firms and Committee for Small & Medium Practitioners. Initially, this Committee had thought to establish for facilitating consolidation and capacity building of CA firms in order to address various problems faced by CA firms and to conceptualize and implement various means for strengthening their capacity as well as providing comprehensive guidelines for consolidation of CA firms. Similarly, Committee for Small & Medium Practitioners was formed to empower Small & Medium Practitioners to assimilate and apply ways for carrying out their profession in efficient manner. Thus, the ultimate objective of the Committee is to strengthen CA firms as well as Small & Medium Practitioners to rejuvenate their practice portfolio.
The fact that the Assessing Officer in the assessment proceedings under section 143(3) of the Act did not give any opinion regarding the allowability or otherwise of deduction u/s 80IB (10) of the Act is not a ground of invoking Section 147 of the Act.
Many times in a list, especially so when it is imported from a database, cells down below that have same headings or subheadings are left blank for the sake of easier readability. For eg. See the screenshot below. Excel Tips-3
New e-filing call center will start working from 15th March 2012. For any query related to online filing of Income Tax Returns, please call 080-25186960 between 9am to 6 pm on all working days. Taxpayers are advised to make use of the above facility.
A man is obliged to accord due respect to his wife in society, a Delhi court has said, dismissing the anticipatory bail plea of a Haryana Police constable who has been accused of harassing his spouse.
Assessee’s claim that travel website should be treated as software (and hence website development cost is eligible for 60% depreciation) is not justified. By approaching travel website of assessee, customers/people can approach assessee and conduct business; therefore, website as such cannot be treated as software; it would fall under definition of intangible asset on which depreciation @ 25% is allowable.
Section 80P is applicable to regional rural banks. This position is undisputed in the instant case as well. The only question is the exigibility to deduction thereunder of the impugned incomes. The word ‘investment’ occurring in the definition of ‘banking’ in section 5(b) of the Banking Regulation Act is of importance. Section 6(1)(a) of the said Act provides that apart from the business of banking, a banking company may engage, inter alia, in acquiring, holding, issuing on commission, under-writing, dealing in stock, funds, shares, debentures, debenture stock, bonds, obligations, securities and investments of all kinds.
