"20 August 2015" Archive - Page 4

House adjourned sine die-GST delayed sine die

Earlier I was not keen in writing any negative thoughts of my mind about the possibility of introduction of GST from 01-04-2016 the biggest indirect taxes reforms in the country since independence. While expressing my views I may be little biased and favor ruling govt. on many occasions particularly our Finance Minister Mr. Arun Jaitley....

Schedule II of Companies Act, 2013

Earlier, the depreciation on fixed assets of companies are regulated by Schedule XIV of Companies Act, 1956 along with Accounting Standard 6 and guidelines issued by ICAI. The positions has been changed from Financial Year 2014-15, which has created curiosities in various professional. The ICAI has issued guidance for clarification of var...

Claim of deduction u/s 80IB cannot be withdrawn in proceedings u/s 154

Vinod Kumar Surana Vs I.T.O Ward 56(2) (ITAT Kolkata)

In the case Vinod Kumar Surana Vs. ITO the Hon’ble Kolkata ITAT held that the fact of withdrawal of deduction u/ 80IB of the Act in the subsequent years when the same were duly granted by the ld. AO in the initial assessment years per se becomes a debatable issue and hence same cannot be dealt in the proceedings u/s 154 ...

Section 68 cannot be invoked without proper inquiry

Neeraj Murarka Vs I.T.O Ward 35(2), Kolkata (ITAT Kolkata)

In the case of Neeraj Murarka Vs. ITO the Hon’ble Kolkata ITAT held that the fact of cash withdrawals made by assessee, cash balance held by assessee has never been questioned and nor any fact to the contrary has been brought on record. ...

2nd and 4th Saturday of month declared as bank holiday wef 01.09.2015

S.O. 2285(E) 20/08/2015

Central Government hereby declares the second and the fourth Saturday of every month as public holiday for banks in India, whether or not such banks are included in the Second Schedule to the Reserve Bank of India Act, 1934 (2 of 1934), with effect from the 1st day of September, 2015....

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