Absence of an appeal does not necessarily render the legislation unreasonable as only because no appeal is provided under the Act against the order passed under section 14 of the Securitisation Act will not render section 14 ultra vires the provisions of the Constitution of India.
We agree with the view taken by the Tribunal; and the appeal is devoid of any merits. Both the substantial questions raised by the appellant do not involve any substantial question of law and therefore, the appeal is dismissed.
The Regulations now do not require a notice to be filed for acquisition of shares or voting rights of companies if the acquisition is less than five percent of the shares or voting rights of the company in a financial year, where the acquirer already holds more than twenty five percent but less than fifty percent of the shares or voting rights of the company.
Insofar as question (b) is concerned, it becomes academic as if the eight comparables selected by the TPO are found not to be functionally comparable then the difference between the operating margin of the respondent at 15.05% as against the 18.97% of comparable companies being within the range of +/ – 5% the amounts received by the respondent – assessee is within the statutory limits. Therefore, we see no reason to entertain question (b).
That apart, the learned counsel for the assessee has rightly contended that the provisions of section 80IA(5) of the Act applies in computing the profits of an eligible business for the purposes of working out the quantum of deduction for the initial assessment year and for every subsequent year thereafter. The incentive deductions both under section 80 IA and 80 IB of the Act have the concept of initial assessment year in respect of almost all eligible business.
The Ld. CIT DR made efforts to support the order of TPO on obtaining information. While agreeing with his arguments on power of AO/TPO in obtaining information u/s 133(6), on which there is no dispute, what is objected to by assessee is not providing such information to it.
Which challans are to be used for payment of Excise and Service Tax? Ans. Two new challan forms GAR-7 have been introduced by PR. CCA’s office. From April 7, 2007, GAR-7 – Proforma for Central Excise Tax Payments is to be used for payment of Excise and GAR-7 – Proforma for Service Tax Payments is to be used for payment of Service Tax. These are single copy challans.
Challan Status Enquiry for Assessee- Using this feature, assessee can track online the status of their challans deposited in banks. a) CIN based view : On entering Challan Identification Number (CIN i.e. details such as BSR Code of Collecting Branch, Challan Tender Date & Challan Serial No.) and amount (optional),the assessee can view the following […]
How to Know name, Address , Location / Division / Commissionerate / Range Code as Per CBEC Records of Service tax & Excise Assessees This facility enables the assessee view its details (name, address, location code) as present in the Assessee Master provided by CBEC. Details of assessee codes allotted for service tax and excise […]
THE INSTITUTE OF COST ACCOUNTANTS OF INDIA GUIDELINES FOR MANDATORY TRAINING FOR ALL MEMBERS OF THE INSTITUTE UNDER CONTINUING EDUCATION PROGRAMME (with effect from 1st April,2013) 1. INTRODUCTION 1.1 The Institute of Cost Accountants of India was set up under the Cost and Works Accountants Act, 1959, as amended to educate, impart training and develop […]
