"November, 2013" Archive

All about CENVAT Credit Rules, 2004- Part 2

In Continuation to my earlier Article 'All about CENVAT Credit Rules, 2004- Part 1' in which I have discussed Rule 2(A) to Rule 5B of Cenvat Credit Rules,2004.I have discussed Rule 6 to 16 of Cenvat Credit Rules,2004 in this Article....

Read More
Posted Under: Excise Duty |

Tax Dept Should Not Cause Misery and Harass Taxpayers – HC

Vodafone India Services Pvt. Ltd (No. 2) Vs UOI (Bombay High Court)

Every Government has a right to levy taxes. But no Government has the right, in the process of extracting tax, to cause misery and harassment to the taxpayer and the gnawing feeling that he is made the victim of palpable injustice...

Read More

Expenditure on acquiring master copy of software subject to obsolescence is allowable as revenue expenditure

Oracle India Private Limited Vs Commissioner of Income Tax (Delhi High Court)

Merely because expenditure has been incurred for material for duplication without acquisition of proprietary and when the expenditure is not of capital nature, the said Section would not be applicable....

Read More

Analysis of amendments under Punjab VAT(Second Amendment) Act, 2013 – part-2

In continuation of my earlier article Analysis of major amendments under Punjab VAT (Second Amendment) Act, 2013 – Part-1 , here below the remaining provisions of the said Act are being discussed and analysed....

Read More
Posted Under: Excise Duty |

ICAI Advisory On Unstructured CPE Learning Activities

8. UNSTRUCTURED CPE LEARNING ACTIVITIES 8.A Introduction 8. A.01 The CPE learning activities, which are eligible for CPE Credit hours are divided into Structured Learning Activities (SLAs) and Unstructured Learning Activities (ULAs). This Advisory is meant as guidance and direction to the members who want to avail CPE Credit hours through...

Read More
Posted Under: Excise Duty |

When Rs. 1,50,000 maximum interest deduction not available on SOP

Rs. 1,50,000 maximum deduction will not be available in the following situations: i. if capital is borrowed before April 1, 1999 for purchase, construction, reconstruction, repairs or renewals of a house property; ii. if capital is borrowed on or after April 1, 1999 for reconstruction, repairs or renewals of a house property; and ...

Read More
Posted Under: Excise Duty |

IDBI Bank can accept deposits under Capital Gains Account Scheme

Notification No.G.S.R 859/2012 - Income Tax (30/11/2012)

Notification No.G.S.R 859/2012 - Income Tax In continuation to the earlier Notification No. G.S.R. 725(E), dated 22-6-1988 (See [1988] 172 ITR (St.) 54), and in pursuance of clause (e) of paragraph 2 of the Capital Gains Account Scheme, 1988, the Central Government hereby authorises all the branches (except rural branches) of IDBI Bank L...

Read More

Document on which PAN required to be quoted

PAN should be quoted on all - Income-tax / TDS / TCS Returns, Correspondence with tax department, Tax challans, Correspondence, bills, vouchers and other documents which are send by deductee of tax to deductor, Documents pertaining to prescribed transactions, Sale & purchase of immovable property valued Rs 500,000 or more, Sale & ...

Read More

All government decisions can’t be seen with suspicion: SC

Pathan Mohammed Suleman Rehmatkhan Vs State of Gujarat & Ors. (Supreme Court of India): Special Leave Petition (C) No. 32507 of 2013

Honorable SC held that If every decision taken by the State is tested by a microscopic and a suspicious eye, the administration will come to stand still and the decisions-makers will lose all their initiative and enthusiasm. ...

Read More

Recovery without notice & providing reasonable time is gross violation of Court directions

M/s Maharashtra Housing & Area Development Authority Vs Addl. DIT(E) (ITAT Mumbai)

Income Tax Officer being a quasi judicial authority should observed the parameters which are laid down by the Hon'ble High Court in various decisions and reasserted in the case of UTI Mutual Fund Vs ITO (supra) for recovery of outstanding demands. ...

Read More
Page 1 of 2112345...1020...Last »