"12 October 2015" Archive - Page 2

Residential Status of Foreign Company as amended by Finance Act, 2015

The company which is incorporated outside India is a Foreign company. Residential status of foreign company shall depend upon place of effective management. Place of effective management to mean a place where key management and commercial decisions that are necessary for the conduct of the business of an entity as a whole are, in substanc...

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Posted Under: Income Tax |

Adjustment of refund with demand u/s 245 cannot be done without application of mind

CIT (TDS) & others Vs State Bank of India & others (Uttarakhand High Court)

Uttarakhand High Court held In the case of CIT (TDS) & others vs. State Bank of India & others that every authority of discretionary power would be obliged to act, in the first place, being guided by relevant considerations and ignoring irrelevant considerations. ...

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Relevant date for allowing benefit U/s. 54 /54F

Shri Vembu Vaidyanathan Vs DCIT (ITAT Mumbai)

Shri Vembu Vaidyanathan Vs DCIT (ITAT Mumbai) Left with the relevant date to decide in the facts of the case, the decision of the Tribunal in Purushottam Govind Bhat’;s case (supra) really comes to favour the assessee. In the said case, the assessee joined the society in 1977. He was allotted a flat and occupied […]...

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Section 80DDB- Private Hospital Doctors allowed to issue Certificate

Notification No. 78/2015 - Income Tax 12/10/2015

Notification No. 78/2015 - Income Tax The prescription in respect of the diseases or ailments specified in sub-rule (1) shall be issued by the following specialists:- (a) for diseases or ailments mentioned in clause (i) of sub-rule (1) - a Neurologist having a Doctorate of Medicine (D.M.) degree in Neurology or any equivalent degree, wh...

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Writ Petition could be allowed if there is procedural lapse by Authorities: HC

TNT India private Limited Vs Principal Commissioner of Customs (Bombay High Court)

The Bombay High Court has held in the case of TNT India private Limited v. Principal CIT that Writ Petition could be allowed if the due procedure have not been followed while suspending the registration under Regulation 14 of Courier Imports and Exports (Clearance) Regulations, 1998....

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Coconut oil cannot be classified as Hair Oil for mere Packing in Small Containers

Circular No. 1007/14/2015-Central Excise 12/10/2015

Kind attention is invited to Circular No. 890/10/2009 dated 3.6.2009 by which Board (CBEC) issued Order under Section 37B on classification of Coconut Oil packed in containers of the sizes up to 200ml. References have been received on the subject from field formations on need to review the Circular due to judicial pronouncements on the su...

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