"17 August 2015" Archive

Penalty u/s 271(1)(C) can’t be levied in succeeding year if on similar/ identical disallowance, no penalty was levied in preceding year

Asst Commissioner of Income Tax Vs Dhariwal Industries Ltd. (ITAT Pune)

In the case of Asst Commissioner of Income Tax vs. Dhariwal Industries Ltd, Hon’ble ITAT has held that once issue on which penalty u/s 271 (1)(C)levied involves substantial question of law, then, no penalty is leviable. ...

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Conditions and Lower fee are matter of Concern provided for Service Tax audits

Objectionable Condition No. 1- On receipt of audit report, department may call the auditor for seeking any clarification or ask them to complete audit, if it is found that particular area has not been examined properly....

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Posted Under: Income Tax |

Secularism: The Backbone of India

India has the hoary history of civilization, culture and religions. Hinduism constitutes the religion of the majority population of this country though other religions are given the due importance. Hindus constitute about 80.5% of India's population.This religion has a cosmopolitan outlook respecting the ideologies of other religious grou...

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Posted Under: Income Tax |

Delhi VAT- : Filing of online return for 1st quarter of 2015-16 – extension of period to 25.08.2015

19 of 2015-16 17/08/2015

CIRCULAR NO. 19 of 2015-16 Dated 17/08/2015 I, Vijay Kumar, Commissioner, Value Added Tax, do hereby extend the last date of filing of online/hard copy of first quarter return for the year 2015-16, in Form DVAT-16 ,DVAT-17 and DVAT-48 along with required annexure/enclosures to 25/08/2015....

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CBDT notifies 21 districts of the State of Bihar as backward areas u/s 32 and 32AD

Notification No. 71/2015 - Income Tax 17/08/2015

Notification No. 71/2015 - Income Tax In exercise of the powers conferred by section 32 and section 32AD of the Income-tax Act. 1961 (43 of 1961), the Central Government hereby notifies the following districts of the State of Bihar as backward areas under the first proviso to clause (iia) of sub-section (1) of section 32 and sub-section ...

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Section 6(1) CBDT Notification On Computation of period of stay in India

Notification No. 70/2015 - Income Tax 17/08/2015

Notification No. 70/2015 - Income Tax 126. Computation of period of stay in India in certain cases. - (1). For the purposes of clause (1) of section 6, in case of an individual, being a citizen of India and a member of the crew of a ship, the period or periods of stay in India shall, in respect of an eligible voyage, not include the peri...

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Notification No. 69/2015 – Income Tax Dated 17/8/2015

Notification No. 69/2015 - Income Tax 17/08/2015

Notification No. 69/2015 - Income Tax Dated- 17th August, 2015Amendment in Notification No. S.O. 359, dated 30-3-1988 Principal Directors General), Principal Chief Commissioners, Directors General of Income-tax (Investigation), Chief Commissioners of Income-tax (Central), Director General of Income-tax (I and CI) and Chief Commissioner o...

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Definitive anti-dumping duty on imports of Diketopyrrolo Pyrrole Pigment Red 254 (DPP Red 254)

Notification No. 41/2015-Customs (ADD) 17/08/2015

Notification No. 41/2015-Customs (ADD)Whereas, in the matter of ‘Diketopyrrolo Pyrrole Pigment Red 254 (DPP Red 254)’ (hereinafter referred to as the subject goods), falling under heading 3204 or 3206 of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975) (hereinafter referred to as the Customs Tariff Act), originating in,...

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Delhi VAT- Authorisation of Andhra Bank and State Bank of Travancore

F.7(400)/Policy/VAT/2011/PF/565-79 17/08/2015

No.F.7(400)/Policy/VAT/2011/PF/565-79 Dated: 17/8/2015 collection of tax, interest, penalty or any other amount due under the Act or Central Sales Tax Act, 1956 from the dealers registered or liable to be registered under the Act, casual traders, contractees (TAN holders) and any other person in e-payment mode only,...

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Clarification on grant of approval to & claim of exemption by university or educational institutions

Circular No. 14/2015-Income Tax 17/08/2015

CIRCULAR No. 14/2015 Sub-clause (vi) of clause (23C) of Sec 10 of the Income-tax Act, 1961 (‘Act’) prescribes that income of any university or other educational institutions, existing solely for educational purposes and not for purposes of profit, shall be exempt from tax if such entities are approved by the prescribed authorities....

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