Nikita Bhatia With a constant attempt to make the law simpler for entrepreneurs and promote & support new and existing business, the Government has bought in substantial changes through the Companies (Amendment) Act, 2015, which got the Presidential Assent on the 25th of May, 2015. This reflects the Government’s willingness to boost and promote the […]
Section 20 of Maharashtra Value Added Tax Act directs every dealer to file complete and self consistent returns. Rules 17 & 18 deal with forms and periodicity of return, summary of which is as follows:-
Applicability of TDS to be determined having regard to the agreement between the contracting parties and not by particular assumption of the deductee about the nature of transaction
Tribunal observed that normally it is practice that in case of any doubt or ambiguity, taxing provision is normally construed in favour of the assessee but when it is case of granting some exemption then there should be strict interpretation.
The various authorities of the Supreme Court in Malabar Industrial Co. Ltd. v. CIT 243 ITR 83 has highlighted that the power under Section 263 cannot be invoked to correct a mere error of an AO, based upon an incorrect assumption of fact.
Hon’ble HC did not find any merit in the ground of delay in issuance of notice. Court further remitted the matters ITAT to decide afresh on merits. In the light of the observations of the Supreme Court in Calcutta Knitwears, particularly the contextual facts discussed
Whether CIT (A) has no jurisdiction to entertain the appeal filed by assessee. Whether CIT (A) was right in sustaining the additions made by AO which are not applicable to the assessee.
The Service Tax Rules, 1994 were amended vide Notification No. 5/2015 – ST dated March 1, 2015 to insert New Rule 4C after Rule 4B thereof. In terms of Rule 4C of the Service Tax Rules, provision for issuing digitally signed invoices, bill or challan has been added along with the option of maintaining of records in electronic form and their authentication by means of digital signatures effective from March 1, 2015.
Whether addition made by AO for undisclosed income of Rs 2,68,11,454/- is justifiable in view of the fact that assessee has rebutted onus cast of him with the help of information/ documents/evidence, which he could have made to support his claimed that he has not done any transaction with alleged party.
Provisions of section 43 and 47 deals with the kinds of shares which may be issued by a Company and the voting rights attached to such shares. In this article we will analyze the present law with reference to the issue of shares without voting rights.
