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Archive: 28 September 2014

Posts in 28 September 2014

Live Course on Appeal, Pleading & Drafting under GST by CA Sachin Jain

May 15, 2024 7059 Views 0 comment Print

oin us for an immersive live course led by renowned expert CA Sachin Jain, as we delve into the intricacies of appeal, pleading, and drafting under GST.

Validity of notice U/s 148 – Court have to refer to reasons recorded by AO

September 28, 2014 2805 Views 0 comment Print

Tribunal was justified in assessing the correctness of the notice for reopening the assessment under Section 148 on the basis of the reasons which were disclosed by the Assessing Officer. Those reasons, as the Tribunal noted, could not give rise to a reason to believe that income had escaped assessment for the simple reason that in the computation of income, the assessee had adopted the circle rate which is higher than the sale consideration. Hence, the appeal will not give rise to any substantial question of law.

If AO not satisfied with correctness of expenditure claimed, he has to proceed in manner prescribed in Rule 8D(2)

September 28, 2014 2011 Views 0 comment Print

In the present case, the Assessing Officer has noted that the assessee had invested a certain amount of its funds in shares and that the dividend which has been received or receivable did not form part of the total income.

Since assessment made u/s 143(3), no notice can be issued without satisfaction of CCIT/CIT – S. 151(1)

September 28, 2014 3009 Views 0 comment Print

Sub-section (1) of Section 151 provides inter alia that where an assessment has been made under section 143(3), a notice under section 148 cannot be issued by an Assessing Officer, who is below the rank of Assistant Commissioner or Deputy Commissioner unless the Joint Commissioner

New Age is Coming to India

September 28, 2014 3247 Views 0 comment Print

Just imagine the consequences if every part of India will be connected by Broadband and 3G/4G. 1. Education: Education is the first area that will be impacted greatly. Some school can upload videos on daily basis (say in Mumbai) and students sitting in remote villages can watch those videos. What an Idea Sirji! Yes, this will happen. Ultimately, this will be a boon for our country and all other countries that are in development stage.

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