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Archive: 06 February 2014

Posts in 06 February 2014

Postmortem of Union Budget 2024: A Comprehensive Webinar

July 18, 2024 4746 Views 3 comments Print

Join our webinar on July 24-25 for an in-depth analysis of Union Budget 2024. Learn about tax proposals, sector impacts, and investment insights. Register now!

Live Course on 360 degree Analysis of Input Tax Credit from a Litigation Perspective

July 18, 2024 4161 Views 0 comment Print

Join CA Sachin Jain for a live course on Input Tax Credit from a litigation perspective. Gain practical insights and master ITC complexities. Register now!

Regulation of pay on imposition of a penalty under CCS (CCA) Rules, 196

February 6, 2014 12091 Views 8 comments Print

Consequent upon implementation of the recommendations of 6 th CPC under the CCS (RP) Rules, 2008 pay scale of a post/grade for below HAG level means the Pay Band and Grade Pay specified for that post. Under the CCS (RP) Rules, 2008 a Pay Band may cover Government servants in more than one Grade Pay or posts in the hierarchy. As per Rule 9 of the CCS (Revised Pay) Rules, 2008

Invitation of suggestions forby the sales tax department in view of revamping of automation system of Sales Tax Department

February 6, 2014 751 Views 0 comment Print

The existent automation system of the sales tax department encompasses various functional modules of automation like Registration, Returns, Recovery, Refunds and Assessment etc. Each of the Modules has been developed on the concept of automation of physical processes underlying each of the functionalities. The Department has also established its own web site for an interface with the tax payers and has provided various e services to them.

SEBI : Individual scrip wise price bands on non-F&O eligible scrip’s in Index Derivatives

February 6, 2014 433 Views 0 comment Print

Vide circular no. SMDRPD/Policy/Cir-37/2001 dated June 28, 2001, stock exchanges had been advised to implement appropriate individual scrip wise price bands in either direction.

No disallowance U/s. 40(a)(i) on payment to non residents where "deduction neutrality non-discrimination" violated

February 6, 2014 1706 Views 0 comment Print

The issue is covered against the revenue by the Special Bench decision in Rajeev Sureshbahi Gajwani’s case (supra) and this decision binds this division bench. The theory of differentiation vs discrimination was relevant, relevant if it was, only for the India US tax treaty

Amendment class Finance Act 2013 – Surcharge and its effects on MMR and TDS Part 1

February 6, 2014 2485 Views 0 comment Print

Kaushal Agrawal This is our first lecture series of amendments made by Finance Act 2013. This video covers 1. Changes made in surcharge. 2. Present rates of surcharge. 3. Why surcharge was imposed, 4. What is effect of increase in surcharge. 5. How Maximum marginal rates of tax has changed. 6. Will surcharge and education […]

Disallowance U/s. 14A is to Be Made For Computing Book Profits U/s. 115JB

February 6, 2014 3145 Views 0 comment Print

These appeals by the Revenue relates to Assessment Year 2001-02. The respondent-assessee, as noticed above, namely, Federal-Mogul Goetze (India) Limited, had filed return of income on 31st October, 2001 declaring „nil‟income after setting for brought forward losses and depreciation.

Tribunal cannot be a silent spectator to illegal coercive recovery of taxes in Defiance Of Law – HC

February 6, 2014 1969 Views 0 comment Print

Contention of the Assessee :- The action of the petitioner revenue in not only attaching the petitioner’s bank account but also withdrawing the amount of Rs.159.84 crores on 18 November 2013 when the stay application was already fixed for hearing before the Tribunal on 22 November 2013

Additions for undisclosed investment could without doubting the genuineness of documents produced not justified

February 6, 2014 1761 Views 0 comment Print

Assessee in his return submission dated 6.11.2009 had explained that the purchase of 2 JCB machines were made from Yantraman Automac Pvt.Ltd., Baroda and both these purchases were on hypothecation with Centurion Bank of Punjab.

Sec. 40A(3) is to curb / reduce black money transactions not business expediencies

February 6, 2014 1601 Views 0 comment Print

n the present case, neither the genuineness of the payment nor the identity of the payee were in any case doubted. These were the conclusions on facts drawn by the Appellate Commissioner. The Tribunal also did not disturb such facts but relied solely on Rule 6DD (j) of the Rules to hold

Customs rate of exchange applicable from February 07, 2014

February 6, 2014 1635 Views 0 comment Print

In exercise of the powers conferred by section 14 of the Customs Act, 1962 (52 of 1962), and in super session of the notification of the Government of India in the Ministry of Finance

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