Whether assessment related to pre-liquidation period cannot be done ex-parte during the period of liquidation without giving reasonable opportunity of being heard to ex-management?
There is no upward change in rate of taxes under Delhi VAT as Hon’ble Finance Minister said that I am not proposing any enhancement in tax rates. We believe that tax collection will improve with effective and efficient tax administration. This Government is committed to simplifying the VAT structure to make it easier for the trader community to comply with the DVAT Rules and Regulations
सरकार भारत में गुड्स एंड सर्विस टैक्स दिनांक 01/04/2016 से लाने की घोषणा कर चुकी है और इसके लिए सरकारी स्तर पर तैयारी भी चल रही है . क्या होगा भारत में इस कर का भविष्य और क्या संभावना है कि जी.एस.टी. सरकार लागू कर पायेगी उसी तिथी से जिसकी वह घोषणा कर रही है […]
Q.1 Which Companies Are Eligible Are Eligible To File FLA Return? A: The Annual return of foreign liabilities and assets ( FLA) is required to be submitted by all the Indian Companies which have received FDI and /or made FDI abroad in the previous year (S) including the current year i.e. who holds foreign assets or liabilities in their Balance sheets.
In the entirety of the show cause notice there is not a single assertion proposing to levy and collect service tax on the basis of any specified taxable services allegedly rendered by the appellant except the several alternative taxable services speculated to have been provided.
The Company act 1956 didn’t include cash flow statement in the Definition of Financial statement. The Applicability of Cash Flow Statements governed by the Companies (Accounting Standards) Rules, 2006. Enterprises which fall in any one or more of the following categories, at any time during the accounting period, are classified as Level I enterprises:
As per Sec 149(3) of the companies Act 2013 – Every company shall have at least one director who has stayed in India for a total period of not less than one hundred and eighty-two days in the previous calendar year. This provision applies to all Companies including private companies.
The test to decide, as to whether the income is revenue in nature or capital receipt, is that if the funds borrowed are just surplus and by virtue of that circumstances they are invested in fixed deposits the income earned in the form of interest will be taxable under the head ‘Income from other sources’ [as per ratios of SC decision in 227 ITR 172].
Though in these case the appeal in quantum was decided in favour of the assessee and thereby penalty u/s 271(1)(c) was deleted, there are also cases where the appeal in quantum was decided by Tribunal against the assessee and the appeal was pending before High Court for disposal but High Court had admitted the appeal, even in that case, it was decided by Delhi Tribunal that penalty u/s 271(1)(c) cannot be levied being debatable issue
Protective assessment made by the Assessing Officer in the present case cannot be sustained because substantive addition has been made in the hands of IBN-18 Broadcast and therefore, if any addition is made in the present case, it will amount to double addition.
