Delhi High Court held In the case of Dushyant Kumar Jain vs. DCIT held that it is only the AO who has issued the original assessment order under Section 143 (3) ,who is empowered to exercise powers under Section 147/148 to re-open the assessment.
In this article, efforts have been made to clarify the types of ambiguities which are commonly faced by the dealers while applying section 9 of DVAT Act, 2004 which contains provisions for claiming Input Tax Credit under the act.
In Reverse Charge Mechanism Service Receiver is made liable to pay service tax and comply with other provisions of Finance Act, 1994. Further the scope of Reverse Charge Mechanism was extended vide Notification no.-07/2015 and now persons other than service receiver and service providers are also made liable to comply with Finance Act, 1994 provisions.
The role of professional chartered accountants in the start-up scheme launched by our Prime Minister is essential, vast and comprehensive. As the partners in nation building it is undoubtedly not only an opportunity in professional domain but it is also a responsibility for interest in large. As we see that the growing complexity has made the […]
Supreme Court held In the case of M/s Ganapathy & Co. vs. CIT that in the current case, each relevant fact considered by the High Court to answer the questions referred to it on the claim(s) of deduction raised by the assessee are acknowledged, admitted and undisputed facts.
Delhi High Court held In the case of YUM Restaurants (India) Pvt. Ltd. vs. ITO that both entities i.e Yum Asia and Yum Singapore which hold the shares of assessee, Yum India, for pre and post restructuring period respectively, were distinct entities.
Circular No. 2/2016-Customs Kind reference is invited to Boards Circular No. 13/2007- Customs dated 2nd March, 2007 on the subject cited above. Board has already issued instructions reiterating the provisions for import of Livestock/Livestock products to ensure that clearance of Livestock/Livestock products is done after proper quarantine check and issue of no objection certificate by Animal Quarantine Officer.
