Court in Writ Petition No.866 of 2010 filed by the assessee, held by order dated 29th April 2010 that the ruling of Authority for Advance Ruling in the respondent-assessec’s case would not be over-ruled by subsequent decision of the Authority for Advance Ruling in the case of another assessee.
In so far as Societies are concerned, only such of those Societies which are registered under the Societies Registration Act, 1860 are exempted. In other words, the terms of the notification itself show that a society like the petitioner which is registered under the Travancore-Kochi Literary Scientific and Charitable Societies Registration Act, 1955 are not exempted from the levy of TDS.
Now the issue to be examined is whether shifting of goods within the factory premises amounts to production or processing of goods for, or on behalf of, the client. Obviously the word production cannot cover shifting of goods.
If we consider the facts of the case as stated above that neither the Revenue authorities nor the assessee has brought on record any material or evidence in support of the determination of annual value of properties, however, the assessee has furnished evidence in respect of annual value determined by municipal/local authority, Agra Nagar Nigam in support of annual value of concerned properties.
Two Bronx women traveling from the Dominican Republic were arrested at JFK on Saturday for carrying 6.5 kilos of cocaine in diapers made of duct tape.
It has been recognized by the Supreme Court itself in Asstt. CIT v. Rajesh Jhaveri Stock Brokers (P.) Ltd. [2007] 291 ITR 500, that even where proceedings under section 147 are sought to be taken with reference to an intimation framed earlier under section 143(1), the ingredients of section 147 have to be fulfilled;
Certainly the procedure prescribed by rule 4(7) of Cenvat Credit Rules needs interpretation in favour of Revenue. But to the extent service tax is paid in respect of an invoice and in a contingency of retention of part of payment for any dispute on the invoice or any other legal purpose, disallowance of cenvat credit to the extent of tax paid shall cause hardship to the taxpayer.
We find from the order of Ld. Commissioner of Income Tax (Appeals) and the argument of the assessee that if the addition is confirmed, if any trading result should be allowed to be set off against unaccounted income of Rs. 1,90,000/- introduced in garb of guess deposits. The Ld. Commissioner of Income Tax (Appeals) has upheld the addition of Rs. 75,916/-. Therefore, telescoping effect of this addition was allowed.
Over 200-representatives of trade industry representatives have opposed shifting from to negative list of the 2012 regime of the service tax which, if carried out, will only create hassles, paperwork and additional burden to the tax payers, revealed at the ASSOCHAM National Conference on Service Tax here today.
As rightly pointed out by learned Senior Counsel appearing for the assessee, in the decision Radhe Developers’s case (supra), the Gujarat High Court considered the question on ownership as a condition for grant of deduction under Section 80IB(10) in depth and accepted the case of an assessee similarly placed.
