In the case of D.R. Enterprises Ltd. Vs. Assistant Collector Of Customs And Ors, it was held by Supreme Court that the powers of the High Court under Article 226 of the Constitution, while issuing appropriate writs, are very wide.
In the case of CIT vs Kapil Nagpal, it was held by the Delhi High Court that purchase of an agricultural land used for agricultural purposes did not violate 54F conditions. Further the exclusive ownership of the residential house on the date of transfer is required to prove violation of Section 54F.
Tribunal shall not ordinarily admit an application, unless it is satisfied that the applicant had availed of all the remedies available to him under the relevant service rules as to redressal of grievances and that by itself means that exemption could be drawn under particular circumstances
The Reserve Bank of India will shortly put into circulation banknotes in the denominations of ₹ 500 and ₹ 1000 incorporating three new/revised features – (i) ascending size of numerals in the number panels, (ii) bleed lines, and (iii) enlarged identification mark. It may be recalled that the Reserve Bank recently put into circulation ₹ […]
Smt. Kavitha Rajakoti Vs. ITO (Andhra Pradesh High Court) Assessing Officer is required to act in a fair manner and need to consider the stay petition independently and pass a speaking order stating reasons as to why the stay application of the petitioner is not required to be considered
The term ‘service’ is defined under service tax law to mean any activity for ‘consideration’ by one person for another. In this regard, it is important to note that section 67 of the finance act, 1994 determines consideration to include both monetary as well as non-monetary consideration.
Deficiencies in Indian infrastructure as already seen is a major obstacle for achieving and sustaining higher economic growth in India. To attend these problems the economic programme of 1991-96 in tune with economic liberalization and new wisdom of reducing role of public sector, ended the decades long monopolies of public sector in the infrastructure. In response to the new economic policies it assigned to the private sector a significant role in raising sustainability in the level of infrastructural investment and efficiency of infrastructural services.
Customs, Excise and Service Tax Appellate Tribunal Jaipur has ruled in the case of National Engineering Industries Ltd. Vs. Commissioner of Central Excise that CENVAT credit cannot be denied for non-registration of head office as Input Service Distributor (ISD), since omission to obtain registration as an ISD can at best be considered as procedural irregularity which cannot stand in the way of allowing substantial benefit of CENVAT credit,
A threshold exemption scheme was introduced in Union Budget 2005-06 (effective from 1.4.2005) exempting from service tax aggregate value of taxable services not exceeding four lakh rupees received by the service provider during a financial year. A point has been raised whether payments received after 1.4.2005 towards the services provided prior to 1.4.2005 would be included while computing this threshold value of Rs. 4 lakhs.
Dear Taxpayer, It is found from the Return of Income e-Filed by you for AY 2014-15 you were liable to get your accounts audited under applicable sections of the Income Tax Act, 1961. The due date for e-Filing the return of income for AY 2015-16 together with the appropriate audit report(s) is 30th September, 2015. […]
