Whether Ld.CIT(A) is correct in denying additional claims on the ground that claims were not made by way of filing the revised return under Section 139(5) of the Income-tax Act, 1961, where the assessee did neither claim those additional claims in the Original/Revised return nor claimed before Assessing Officer but were claimed first time before the ld.CIT(A)?
Amendment of Section 19- Whenever CST sale is made under Section 8(1) of the CST Act, 1956, the proviso to Section 19(2)(v) as amended seeks to restrict the [ITC] input tax credit by providing that credit shall be allowed in excess of 3%.
Notification No. F.No.DIT(S)-II/CPC/2013-14 CPC on taking up a case for processing will identify the defective returns on account of non-payment of self assessment tax and issue notice under section 139 (9) to the assessee informing them of the defect in their returns and advising them to upload corrected return through e-filing portal within 15 days.
When insiders, e.g. key employees or executives who have access to the strategic information about the company, use the same for trading in the company’s stocks or securities, it is called insider trading
Provisions of sec. 40(a)(ia) do not provide for absolute disallowance as in the case of say, sec. 40A(3) of the Act. The amount disallowed u/s 40(a)(ia) in one year can be claimed as deduction in the year in which the TDS provisions are complied with.
Certain enquiries are being received as regard to the holding of examination on 15th November, 2013 since the same has been declared as a holiday on account of Muharram.
In exercise of the powers conferred by sub-section (2) of section 14 of the Customs Act, 1962 (52 of 1962), the Central Board of Excise & Customs, being satisfied that it is necessary and expedient so to do, hereby
in the matter of continuation of anti-dumping duty on Phenol, falling under chapter 27 or 29 of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975), originating in, or exported from, South Africa imposed vide notification of the Government of India, in the Ministry of Finance (Department of Revenue),No. 10/2013-Customs, dated the 3rd May, 2013, published in the Gazette of India
Whereas, the designated authority vide notification No. 15/20/2013-DGAD, dated the 17th October, 2013, published in the Gazette of India, Extraordinary
Sometime back, I had to deal with a case of a charitable institution which is running a number of educational institutions. For one assessment year, certain donations received by the trust were disclosed as anonymous donations, as per the provisions of section 115BBC of the Income-Tax Act, 1961 (the Act). As per section 115BBC(1)(i), the assessee trust paid tax on the anonymous donations at the rate of thirty per cent (30%) thereof.
