In exercise of the powers conferred by clauses (b) and (c) of sub-section (1) of section 7 of the Customs Act, 1962 (52 of 1962), the Central Board of Excise and Customs hereby makes the following further amendment in the notification of the Government
The brief facts of the case are that the AO observed from the return of income filed by the assesee that the assessee’ s income included income from salary from Price Water House of which he was a partner. Since income by way of salary or remuneration from a firm was to be assessed
Whereas in the matter of 4, 4 Diamino Stilbene 2, 2 Disulphonic Acid (DASDA) (hereinafter referred to as the subject goods), falling under Chapter 29 of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975), (hereinafter referred to as the
Seeks to levy definitive anti-dumping duty on imports of Hexamine, originating in, or exported from, the Saudi Arabia and Russia for a further period of five years
therefore, in exercise of the powers conferred by sub-sections (1) and (5) of section 9A of the said Customs Tariff Act and in pursuance of rule 23 of the said rules, the Central Government hereby makes the following amendment in the
Whereas, the designated authority vide notification No. 15/29/2013-DGAD dated the 31st December 2013, published in the Gazette of India, Extraordinary, Part I, Section 1, dated the 31st December 2013, has initiated review, in terms of
Recently, the Punjab and Haryana High Court has rendered a very significant judgement, regarding disallowance under section 14A of the Income-Tax Act, 1961 (the Act), r.w.r.8D of the Income-Tax Rules 1962 (the Rules), in the case of CIT Vs Deepak Mittal [2014] 361 ITR 131 (P&H) : [2013] 219 Taxman 314 (P&H). This judgement is really a landmark judgement, in regard to the disallowance under section 14A of the Act,
Financial position of the assessee is very sound as agreed even by its ld. Counsel and any further recovery of the outstanding demand on account of penalty is not going to cause any genuine hardship to the assessee. At the same time, government also needs liquid funds to manage its day to day affairs. Having regard to all these facts & circumstances, we are of the view that the stay of outstanding demand for both the years can justifiably be granted subject to a further payment of Rs.50,00,000/-by the assessee against the penalty imposed for each of the two years under consideration.
Ld. Counsel of the assessee submitted that the assessee has not been given proper opportunity of being heard. He submitted that the assessment order was passed on 28.12.2007. He submitted that the query in this regard came from the Assessing Officer on 20.12.2007.
The Ministry of Corporate Affairs had placed Ind-AS which are converged with IFRSs on its website. Thereafter, certain new standards/amendments to the IAS/ IFRS have been issued by the IASB. With a view to keep pace with the new IFRS/ revisions in IAS/IFRS, the ICAI has issued exposure drafts of Ind-AS on the following topics […]
