Provided also that CENVAT Credit of Service Tax paid in a financial year, on the one-time charges payable in full upfront or in instalments, for the service of assignment of the right to use any natural resource by the Government, local authority or any other person, shall be spread evenly over a period of three years:
Whereas, in the matter of ‘Normal Butanol or N-Butyl Alcohol’ (hereinafter referred to as the subject goods), falling under tariff item 2905 13 00 of Chapter 29 of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975) (hereinafter referred to as the Customs Tariff Act), originating in, or exported from the European Union, Malaysia, Singapore, South Africa and United States of America
High Court held that as the issue of service of notices under sections 148, 142(1) and 143(2) are concerned, it is an admitted position that the said notices were never served on the Petitioner. The Revenue seeks to justify service of these notices on the Petitioner by contending that they have served the said notices on the last known address of the Petitioner which was the address of Ingram Micro India [earlier known as Tech Pacific India], the downstream company of the Petitioner.
Bombay High Court held In the case of M/s. Sesa Resources Ltd. vs. DCIT/Union of India that in the Judgment of the Division Bench in the case of Gujarat Reclaim & Rubber Products Ltd. Income Tax Appeal No.169/2014 dated 08.12.2015, it was held that before effecting deduction at source one of the aspects to be examined is whether such income is taxable in terms of the Income Tax Act.
High Court held that section 10(33) provides that any income by way of (i) dividends referred to in section 115-O; or (ii) income received in respect of the units from the Unit Trust of India established under the Unit Trust of India Act, 1963; or (iii) income received in respect of units of a mutual fund specified under section 10(23D), shall be exempt from tax.
In the absence of any addition having been made on incomes which the AO had reason to believe had escaped assessment, no addition of any other income could have been made and that the AO had exceeded his jurisdiction in passing the impugned order u/s 147.
HC held that income tax officer to whom an application is made should give an acknowledgment of having received and accepted the application on face if the same is found in prescribed manner with prescribed details.
Invoking extraordinary jurisdiction of this Court under Article 226 of the Constitution of India, the petitioner herein seeks to challenge appointment of respondent No. 3 as a member of District Consumer Redressal Forum, Rajnandgaon.
Today in this article I will show you ugly face of this process of wealth creation. How we fall in trap and start losing. Why I write on this topic? Even if you are not able to follow all wealth creation techniques at least you shouldn’t be losing by committing these mistakes. Following is the list of mistakes so read them and tries to avoid these acts.
Nidhi is the safest and the cheapest way of raising funds from the General public. The most important thing is that you don’t require Reserve Bank of India (RBI) approval for this Company. The alternatives of Nidhi (like Non Banking Financial Companies (NBFC’s) will need a capital of at least two crores) are very costly. Through, very business friendly, Nidhi is yet to be common between the business communities.
