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Archive: 04 January 2016

Posts in 04 January 2016

Live Course on Appeal, Pleading & Drafting under GST by CA Sachin Jain

May 15, 2024 6366 Views 0 comment Print

oin us for an immersive live course led by renowned expert CA Sachin Jain, as we delve into the intricacies of appeal, pleading, and drafting under GST.

Live Course on How to Reply to GST Notices & SCN & to Fake ITC Notices? – Last day to Register

May 15, 2024 19380 Views 0 comment Print

Join our live course to learn expert strategies for replying to GST notices, SCNs, and fake ITC notices. Understand litigation nuances, evidence insights, and practical tips for effective responses. Register now!

Increase Minimum exemption limit to Rs. 5 Lakh: Trade urges FM

January 4, 2016 1455 Views 0 comment Print

Many other suggestions include need for over hauling of tax structure, and minimum tax exemption limit be raised to Rs. 5.00 lakh in case of employees. creation of a separate Social Sector Affairs Department coordinating different ministries and experts and to include representative of such sectors so that the benefits reach directly to the real beneficiaries.

Notification No. 1/2016-Customs Dated: January 4, 2016

January 4, 2016 1994 Views 0 comment Print

NOTIFICATION NO. 1/2016-Export duty on Iron ore pellets reduced to Nil rate from 5% – Customs Central Government, being satisfied that it is necessary in the public interest so to do, hereby makes the following further amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue) No. 27/2011-Customs, dated the 1st March, 2011, published in the Gazette of India, Extraordinary, vide number G.S.R. 153(E), dated the 1st March, 2011, namely :-

Official Twitter Account of the Income Tax Department

January 4, 2016 2095 Views 0 comment Print

In recent times, the use of Social Media has become widespread in various organizations including Government Ministries and Departments for public relations and communication. Keeping with the stated endeavour of the Department to induct state-of-the-art and green technology with a user friendly interface, the Department is extending its external communication to Social Media such as Twitter, Facebook and YouTube.

Goodwill value cannot be challenged where slump sale includes sale of goodwill & such agreement is beyond any doubt

January 4, 2016 9236 Views 0 comment Print

Delhi High Court held In the case of Triune Energy Services Pvt. Ltd. vs. DCIT that if ITAT have no doubt on slump sale agreement and do not thinks that it is a colourable device than the agreement between the parties must be accepted in its totality.

Project completion method being a recognized method as per notified AS, rejection of account not permitted

January 4, 2016 18308 Views 1 comment Print

Delhi High Court held In the case of Paras Buildtech India Pvt. Ltd. vs. CIT that the settled legal position as far as Section 145 is concerned is that it is not open to an AO to reject the accounts of an Assessee unless he comes to a determination that notified accounting standards have not been regularly followed by the Assessee.

Mere revised return filing will not invalidate notice u/s 143(2) issued in pursuance of original return

January 4, 2016 3442 Views 0 comment Print

Delhi High Court held In the case of Vinod Kumar Khatri vs. DCIT that revised return relate back to return originally filed, minus the omissions and wrong statements. Even if the revised return replaces the original return, the assessment proceedings leading up to the revised return do not get obliterated.

In order to forfeit gratuity of terminated employee u/s 4(6)(b)(ii) of PG Act, 1972, his conviction for an offence involving moral turpitude is mandatory

January 4, 2016 4083 Views 0 comment Print

In order to invoke Section 4 (6) (b) (ii) of the PG Act to forfeit an amount of gratuity payable to an employee, the condition precedent is that terminated employee must be convicted for an offence for the time being in force and that offence must be an offence involving moral turpitude.

No writ of mandamus can be issued to Registrar, Cooperative Societies to amend rules

January 4, 2016 2484 Views 0 comment Print

1. Invoking writ jurisdiction under Article 226 of the Constitution of India, the present writ petition has been filed by the petitioner seeking writ of mandamus or suitable direction to respondent No. 2/Registrar, Co-operative Societies for appropriate amendment in the service rules in the light of the order passed by this Court in Writ Petition […]

PF Commissioner obliged to enquiry U/s. 7A(3A) of EPF Act before deciding applicability dispute and determining PF dues

January 4, 2016 4911 Views 0 comment Print

1. Superb question of law involved in this batch of writ petitions is whether the Assistant Provident Fund Commissioner is justified in holding that “Commission Vendors” engaged by the petitioner/its predecessors-in interest for selling its food products can be considered to be its employees for the purpose of Section 2 (f) of the Employees’ Provident […]

Mere incidental benefits to foreign AE from AMP expenses cannot be a basis for existence of an international transaction

January 4, 2016 1769 Views 0 comment Print

Delhi High Court held In the case of Honda Siel Power Products Ltd. vs. DCIT that the Court is satisfied that in the present case, the Assessee is carrying on business as an independent enterprise and is incurring AMP expenses for its own benefit and not at the behest of the AE.

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