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Archive: 26 December 2015

Posts in 26 December 2015

Postmortem of Union Budget 2024: A Comprehensive Webinar

July 18, 2024 3879 Views 3 comments Print

Join our webinar on July 24-25 for an in-depth analysis of Union Budget 2024. Learn about tax proposals, sector impacts, and investment insights. Register now!

Live Course on 360 degree Analysis of Input Tax Credit from a Litigation Perspective

July 18, 2024 3504 Views 0 comment Print

Join CA Sachin Jain for a live course on Input Tax Credit from a litigation perspective. Gain practical insights and master ITC complexities. Register now!

Disallowance cannot be made of expenditure not claimed as deduction in profit & loss account

December 26, 2015 3179 Views 0 comment Print

ITAT Delhi held In the case of Sunaina Tower Pvt. Ltd. vs. ACIT that the material issue is that the said expenditure was never claimed as business expenditure, the occasion to make a disallowance of the same does not arise.

CIT (A) cannot initiate & levy penalty u/s 271(1) (c) by penalty order under his adjudication

December 26, 2015 9156 Views 0 comment Print

ITAT Pune held In the case of Shri Ajit Ramchandra Jadhav. vs. ACIT that the order initiating the penalty proceedings has to be a different order and has to be passed by the person, who has made the addition / assessment in the hands of the assessee.

Plausible view by AO being not an erroneous view, revision u/s 263 not sustainable

December 26, 2015 835 Views 0 comment Print

ITAT Mumbai held In the case of M/s Vidyasagar Enterprises LLP vs. Principal CIT that AO accepted the loss sustained by the assessee in this project to be allowed to be set off against other income of the assessee after application of mind and considering relevant material on record which was one

Supply of shrink-wrap software is transfer of right to use copyright and covered in royalty liable to TDS u/s 195

December 26, 2015 3080 Views 0 comment Print

ITAT Bangalore held In the case of M/s Tejas Networks Ltd. vs. DDIT that the right that is transferred in the present case is the transfer of copyright including the right to make copy of software for internal business

Interest Income is capital receipt only if it is inextricably linked with project

December 26, 2015 5914 Views 0 comment Print

In the Case of ACIT VI, Kanpur vs. Z Square Shopping Mall Private Limited, ITAT held that the interest earned on FDR, Gains from investment of Mutual Fund is not inextricably linked or connected with the construction activities

How deductor can Submit Self-Declaration for Lower Deposit of TDS

December 26, 2015 11895 Views 0 comment Print

Centralized Processing Cell (TDS) has started sending notices to those deductors who have  paid 40 to 60% lesser TDS during the period from April 1 to October 15, 2015 as compared to the corresponding period in Financial Year 2014-15. If as a deductor you have reasonable causes for less Deduction and less Payment of tax […]

ICAI Election 2015- List of Elected Candidate of WIRC Regional and Central Council

December 26, 2015 6534 Views 0 comment Print

ICAI Election 2015- List of Elected Candidate of WIRC Regional and Central Council THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA ELECTION TO THE TWENTY THIRD CENTRAL COUNCIL- WESTERN INDIA REGIONAL CONSTITUENCY Position NAME OF CANDIDATE AND SERIAL NO. 1 22. Zaware Shiwaji Bhikaji 2 21. Vikamsey Nilesh Shivji 3 8. Hegde Nandkishore 4 19. Shah […]

Accounting Standards: A Rhythm

December 26, 2015 1973 Views 0 comment Print

AS 1 discloses Accounting Policies, 2 is for Valuation of Inventories. Cash Flow is there in AS 3, AS 4 Post BS date, contingencies & events, the way one can treat.

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