Considering the low tax effect in the case on hand and the substantial questions of law of general importance are not established, the appeal is liable to be dismissed and accordingly dismissed.
If demand of tax raised by the Assessing Authority is more than twice the admitted tax liability, then recovery of difference of tax has to be kept in abeyance during pendency by first appeal before the CIT (Appeals) as per the CBDT instructions.
With India’s GDP growth rate having regressed to its 10 year low, the upcoming Union budget would be excessively important in salvaging the situation. The 25 bps Repo rate cut in Jan-13 has set the tone for encouraging capital formation and investments. However, the moderation in the government borrowing is necessary for the commercial sector to raise the needful resources at viable cost.
A reading of the aforesaid provision makes it clear that an assessee will be entitled to claim deduction under the said provision if he fulfills all the conditions mentioned therein. Clause (a)(ii) of the aforesaid provision, which is relevant for our purpose, provides that in a case where housing project has been approved by the local authority on or after the 1st day of April, 2004 and has been completed within 4 years
I am directed to refer to your letter dated 25-10-2012 on the above subject and to inform you that as per section 129(6) of the Customs Act, 1962, on ceasing to hold office, the President, Vice-President or other Member shall not be entitled to appear, act or plead before the Appellate Tribunal. The word ‘on ceasing to hold office’ is applicable to all types of cessation
The Exchange must have systems and defined procedures in place to monitor collusion between trading members indulging in trades solely for seeking incentives and prevent payment of incentives in such cases.
This circular shall come into effect immediately. This circular is issued in exercise of powers conferred under SEBI section 11(1) of the Securities and Exchange Board of India Act, 1992, to protect the interests of investors in securities and to promote the development of, and to regulate the securities market.
Export of Stone Aggregates to the Republic of Maldives permitted vide notification dated 07.06.2011 is stopped till further notice.
It is clarified that duty credit scrips issued under Post Export EPCG Scheme will be issued only in respect of basic customs duty and will have the same features as Chapter 3 scrips.
Where the exporter has obtained EPCG authorisation under Para 5.23 (c) of HBP v1, declaring that he shall not avail CENVAT Credit, the Export Obligation shall be fixed with reference to the basic customs duty paid. In such cases Duty Credit Scrip will be issued based on the certificate from Central Excise regarding non-availment of CENVAT credit.
