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An Idea and a Movement for Indian Businesses The case:I want to make a different case and discuss a different kind of social problem we are facing today in our developing economy and our businesses. Many people are used to hear talks about different kinds of social problems like poverty, economic crisis, black money, corruption, […]
Our Long Time Stand that CAG has Constitutional Mandate to Audit Private Firms has been Vindicated by the Hon’ble Supreme Court says Shashi Kant Sharma. CAG is duty bound to Report to Parliament Matters Involving Revenue Sharing : CAG The recent ruling of the Honorable Supreme Court is a landmark one and has removed, once […]
Correct Factual Position and the Circumstances that led to the Government’s Proposal to Withdraw from the Conciliation Measures Initiated Earlier with Vodafone International Holdings B.V.(Vodafone)
Forum Chaired by Dr. Parthasarathi Shome for Exchange of Views Between Industry Groups and Government on Tax Related Issues Identifies 29 Issues in Direct Taxes and 47 Issues in Indirect Taxes that Merited Removal of the Obstacles and Issue of Clarifications or Amendment of Procedures. The Finance Minister Shri P. Chidambaram, in his Press Statement […]
a. The PMS Agreement in this case was a mere agreement of agency and cannot be used to infer any intention to make profit. b. The intention of an assessee must be inferred holistically, from the conduct of the assessee, the circumstances of the transactions, and not just from the seeming motive at the time of depositing the money
As the CA-intermediate exams are around the corner, many students must be feeling really nervous. I would like to tell all the students who are appearing for the exams that this is the best time of the year, now I know the reaction, all of you must be thinking, “how can exam time be the […]
Finance Minister Reviews Annual Performance of Public Sector Banks and Financial Institutions for 2013-14; Calls for Tougher Action Against Wilful Defaulters; Highest Ever More than 10,000 New Branches Opened during 2013-14
The tendency not to accept any adverse verdict on facts results in frivolous Appeals being filed in this Court. That causes huge loss to the public exchequer and results in wastage of precious judicial time of this Court.
Whether on the facts and in the circumstances of the case, the Income Tax Appellate Tribunal is legally justified in cancelling the penalty levied under Section 271(1)(c) inspite of the fact that the assessee did not furnish any explanation either before the Assessing officer
