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Archive: 28 October 2014

Posts in 28 October 2014

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

May 15, 2024 6447 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.

Rental Income from Sublease of Office Premises to be Considered for Section 10A Benefit

October 28, 2014 2814 Views 0 comment Print

Karnataka High Court rules rental income from sub-lease of office premises as part of business profits eligible for Section 10A deduction.

Merely having same partners or employees doesn’t mean that a new entity is formed by splitting of existing business

October 28, 2014 810 Views 0 comment Print

The Hon’ble Himachal Pradesh High Court in the case of CIT vs. M/s Yash International Inc. held that the fact that the new firm has almost the same partners and some workers of existing firm shifted to new firm’s unit cannot make the new entity arising as result of splitting up of the existing one.

SEBI (Share Based Employee Benefits) Regulations, 2014

October 28, 2014 5911 Views 0 comment Print

– In exercise of the powers conferred by section 11, section 11A , section 30 of the Securities and Exchange Board of India Act, 1992 read with section 62 of Companies Act, 2013 and rule 12 of Companies (Share Capital and Debentures) Rules, 2014, the Securities and Exchange Board of India hereby makes the following regulations to provide for regulation of all schemes by companies for the benefit of their employees involving dealing in shares, directly or indirectly, with a view to facilitate smooth operation of such schemes while preventing any possible manipulation and matters connected therewith or incidental thereto.

Expenses incurred for erection & commissioning of lift & Refund by Builder to buyer of Flats – Tax Provisions

October 28, 2014 19525 Views 0 comment Print

In this article, the author has enlightened the nature of expenses incurred for erection and commissioning of lift with regard to the purview of the expression works contract in accordance with the provisions of Andhra Pradesh General Sales Tax Act, 1957 & u/s 194C of the Income Tax Act, 1961 and the treatment of excess amount of refund paid by the builder to the buyers of flats, in case no allotment of flat is made by the builder to such buyers,

Income from growing of mushrooms cannot be treated as an agricultural income

October 28, 2014 9600 Views 4 comments Print

Even if, growing of mushroom necessarily involve use of some soil, it could not by itself amount to carrying on a primary agricultural operation in the sense of cultivation of the soil. The assessee has failed to explain as to how it can be claimed that basic agricultural operations were carried out in mushroom production and how expenditure is incurred on primary operations i.e. planting of mushroom etc.

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