Board has received a number of representations from the ACP clients whose ACP status has either been withdrawn or not extended on account of them having been served a show cause notice in terms of the amended para 7(iii) of the said Circular dated 24.11.2005.
We found cases (a) where the CAs failed to report full and correct information in 367 cases leading to short levy of taxes of Rs. 2,813.11 crore and (b) where the AOs failed to utilize the information available in 102 reports/certificates submitted to them leading to short levy of taxes of Rs. 1,310.05 crore.
Carbon Credit is not an offshoot of business but an offshoot of environmental concerns. No asset is generated in the course of business but it is generated due to environmental concerns. We agree with this factual analysis as the assessee is carrying on the business of power generation.
Courts warn against the intolerable harassment of assesses by Revenue Officers. Learn about recent cases and the measures taken to protect the interests of assesses.
Learned counsel for the assessee submitted that it is a case of frivolous double addition on deliberate misconception of the facts. He took us through the year-end financial statements of the assessee and its computation of income to demonstrate that the impugned addition
In the instant case, there is absolutely no legal evidence on the record to prove the secret books of account, the seizure of which was effected by or under the order of the Inspecting Assistant Commissioner were recovered from a place which formed part of the business premises of the respondents or. was in their exclusive possession and control.
It is settled principle of law that seizure can not be made merely on presumption. There must be a material to show that the Section 52 Rule 58 or the procedure prescribed in the circular issued by the Commissioner has been violated.
Dikshit Kapoor Introduction The Foreign Exchange Management (1999) or in short FEMA has been introduced as a replacement for earlier Foreign Exchange Regulation Act (FERA), 1973. FEMA came into force with effect from 1st June, 2001. This Act Extends to Whole of India and Branches, offices & agencies outside India owned or controlled by a […]
It is undisputed that the sole basis for detention of the tanker in question and seizure of the bitumen by the Respondent No.4 was the information collected by him from the toll plaza which revealed that last four digit of the registration number of the tanker in question was similar
The main thrust of the present article is to analyse the landmark judgment given by the Hon’ble Uttrakhand High Court recently, in the case of Commissioner of Customs & Central Excise Vs Sachin Malhotra, Raj Kumar Taneja, and M/s Shiva Travels [2014-TIOL-2039-HC-UTTRAKHAND-ST] wherein the difference between renting and hiring has been reported for the purpose of levying service tax under the category of Rent a cab services.
