Did the Income Tax Appellate Tribunal (ITAT) fall into error in not holding that the loss of Rs. 4,92,71,000/- on account of derivative transaction was a speculative loss, and was entitled to the benefit of Section 73, in view of the Explanation to Section 73 of the Income Tax Act
The assessee has shown Long Term Capital gains during the year at Rs. 3888,313/- which has been accepted by the AO. If the AO was of the firm belief that the assessee is engaged in trading activities in the shares then it should not make any difference if the shares are held more than 12 months
Premature encashment in respect of the Bonds shall be allowed for individual investors in the age group of 60 years and above, subject to submission of document relating to date of birth of the investor in support of age to the satisfaction of the bank, after minimum lock in period from the date of issue as indicated below:-
It is a common case that Satyam Computer Services Ltd. should not be taken into consideration. The tribunal for valid and good reasons has pointed out that Infosys Technologies Ltd. cannot be taken as a comparable in the present case.
AO has not made any discussion regarding the subjects raised by the Ld. CIT u/s. 263 and the AO has mechanically accepted what the assessee wanted him to accept without any application of mind or enquiry. Further, no evidence had been placed that the claim made by assessee was objectively
Liberty India (supra) was a case of non-operational subsidy inasmuch as the subsidy, provided in Liberty India (supra), did not relate to production; whereas the subsidies, in the present set of cases, are operational in nature inasmuch as the subsidies are related to the production
Service Tax Voluntary Compliance Encouragement Scheme, 2013 provides the service tax defaulters with a golden opportunity to pay all ‘tax dues’ from the period 01.10.2007 to 31.12.2012 without interest, penalty and other legal proceedings including prosecution. For which such Assessees can Apply on or before 31.12.2013 in the prescribed format. Procedure for availing the VCES […]
Time and again a question arises as to whether input service includes services rendered for outward transportation up to place of removal, and the answer is positive. It was held in the case of Commissioner of Central Excise, Vadodara Vs Inox India Ltd., (CESTAT-Ahmedabad 2013, 35 taxmann.com 94) that the exporter respondent is eligible to avail cenvat credit on the service tax paid on CHA and C&F Agent services
As per information uploaded on NSDL website Facility for payment of PAN application fee in Indian Rupees & foreign currency by foreign citizens/NRIs using ‘Credit Card/Debit Card’ is now available for those applicants who apply PAN online. Foreign Citizen /NRI if If communication Address is within India can pay by any of the following methods […]
The time limit for preferring an application by an examinee for inspection and/or certified copy(ies) of his/her evaluated answer book(s), shall henceforth, be one month from the date of declaration of result of the respective examination;
