The Andhra Pradesh Sales Tax & VAT Appellate Tribunal, Hyderabad held recently that materials purchased from unregistered dealers and used in the execution of works contract is liable to tax u/s 4(4) of the APVAT Act (Ramky Environ Engineers Ltd., Hyderabad Vs State of Andhra Pradesh 2013 57 APSTJ 1).
Q. 1. What are the pre-conditions for the FCNR (B) deposits mobilised by a bank for being eligible to be swapped with RBI under the swap window? Ans. Only fresh FCNR (B) deposits mobilized in any of the permitted currencies after September 6, 2013 with a minimum three years maturity and having a lock in […]
It is hereby clarified that with effect from 12.09.2013, the relevant provisions of the companies Act, 1956, which correspond to provisions of 98 sections of the companies Act, 2013 brought into force on 12.09.2013, cease to have effect from that date.
Notification No. 73/2013 – Income Tax 1. (1) These rules may be called the Income-tax (16th Amendment) , Rules, 2013. They shall come into force from the date of their publication in the Official Gazette. 2. In the Income-tax Rules, 1962, (A) in Part-II, in sub-part D relating to special cases, after rule 10T, the following rules shall be inserted, namely:- Safe Harbour Rules
We find that the judgment of the Hon’ble Allahabad High Court is in favour of the assessee. At the same time, we find that the orders of the Calcutta High Court and the Gujarat High Court are against the assessee.
It is an undisputed fact that the income from lease has been considered by Assessee as income. It is also an undisputed fact that the AO has considered the lease entered by the Assessee to be a Finance lease to arrive at the conclusion that the assessee is not entitled to depreciation.
Net Direct Tax Collections for 2013-14, up to 17th September 2013 Shows A Growth of 12.5% and Stood At Rs. 2,38,325 Crore as against Rs. 2,11,641 Crore in the Same Period Last Year Net direct tax collections for the current F.Y. 2013-14, up to 17th September 2013, stood at Rs. 2,38,325 crore as against Rs. […]
The existing definition of infrastructure sector for the purpose of availing ECB includes: (i) power, (ii) telecommunication, (iii) railways, (iv) road including bridges, (v) sea port and airport (vi) industrial parks (vii) urban infrastructure (water supply, sanitation and sewage projects),
We are of the view that whenever objection is taken or claim is made before AO, that the value adopted or assessed or assessabe by the Stamp Valuation Authority under sub-section (1) of Section 50-C exceeds the fair market value of the property on the date of transfer
MGF Automobiles Ltd. Vs. ACIT (ITAT Delhi) The brief facts of the case are that search and seizure operation u/s 132 of the Income Tax Act, was carried out in the case of assessee on 12.09.2007 and, therefore, notice u/s 153 A of Income Tax Act dated 17.10.2008 was issued to the assessee requiring it to file income tax returns. The assessee filed returns of income for assessment year 2004-05 and assessment year 2005-06 declaring Nil income in respect of assessment year 2004-05 and income of Rs.50,04,700/- for assessment year 2005-06.
