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The assessee is a FUND and a resident of Denmark. Along with its return of income, in India, the assessee had submitted ‘Tax Residency Certificate’ issued by the Danish Authorities in order to claim the benefit of Article 14 of India-Denmark DTAA.
Pursuant to the references received relating to valuation of iron ore entered for export, the Central Board of Excise and Customs vide Circular No. 12/2014 – Customs dated November 17, 2014 has prescribed the specified procedures to be adopted by all Custom Houses in order to bring in uniformity, transparency and consistency in assessment of export of Iron Ore, fines and pellets. For details, please read the Circular given below-
First contention of the assessee is that the sale consideration cannot be taken more than the actual sale consideration shown in the transfer deed i.e. a sum of Rs.4 1.51 crores. The alternative contention is that if the sale consideration is taken as valuation done by the Stamp Valuation Authorities then there is a mistake
The assessee is a non-scheduled Co-operative Bank carrying on banking business in terms of a license issued by Reserve Bank of India (RBI), and is thus governed by Circulars of RBI relating to Prudential Norms, Income Recognition, Asset Classification, Provisioning
Emitec Emission Control Tech. (I) Pvt. Ltd. (the Appellant) imported certain goods from Emitec Gesellschaft Fur Emissions technologie GmBH (EGM Germany) which is the parent company of the Appellant.
The issue that whether in the case of amalgamation loss under the head of capital gain can be carry forward or not was a matter of discussion. In the Income Tax Act, 1961, there is no clarity in respect of this issue. However, in respect of business loss Section 72A of the Act was introduced […]
Chowgule & Company Pvt. Ltd (the Appellant) are the traders who, imported goods by discharging Special Additional Duty of Customs (SAD)under Section 3(5) of the Customs Tariff Act, 1975 and subsequently domestically sold such goods on payment of CST/VAT
CIRCULAR NO. 16/2014 Chapter XIX-A of the Income-tax Act, 1961 contains provisions relating to settlement of cases by the Income-tax Settlement Commission (ITSC). The provisions contained in the said chapter were amended by Finance Act, 2007 and a Revised Settlement Scheme was put in place. Explanatory Circular No. 3/2008 dated 12.03.2008 issued by CBDT vide para 61
Economic Reforms Inclduing GST and Insurance Amendment Bill are on the Anvil: FM; Calls for Large Investment from Domestic and International Investors in Infrastructure Sector The Union Finance Minister Shri Arun Jaitley said that the Government has taken series of measures to tackle various challenges being faced by the infrastructure sector in the country. The […]
The tariff items and descriptions of goods in the said Schedule are aligned with the tariff items and descriptions of goods in the First Schedule to the Customs Tariff Act, 1975 (51 of 1975) at the four-digit level only.
