I, S.S. Yadav, Commissioner, Value Added Tax, Government of NCT of Delhi, do hereby direct that the returns in Form CR-II for all the four quarters of the financial year 2015-16 are required to be filed by 16th June, 2016.
Details in respect of any commodities/goods to be moved from Delhi to any place outside the territory of Delhi on account of sale, stock transfer or due to whatsoever reason, shall be submitted online, in Form Delhi Sugam-1 (DS1), as annexed with this Notification, by all the registered dealers of Delhi before the actual movement of such goods occurs.
In the case of Delhi Press Patra Prakashan Ltd., Delhi HC held that printing and publishing activity is a manufacturing activity and therefore, assessee is eligible for grant of additional depreciation u/s 32(1)(iia). CBDT accepts this position, Henceforth, appeals may not be filed on this ground by officers of the Department and those already filed, in Courts/Tribunals may be withdrawn / not pressed upon.
i. entries against serial numbers 5 and 21, shall be omitted; ii. for the entry against serial number 24, the following entry shall be substituted
Central Government hereby makes the following amendment in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 40/2012-Customs (ADD), dated the 30th August, 2012, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 657(E), dated the 30th August, 2012, namely:-
Central Government made the Credit Guarantee Scheme for Stand Up India (the Scheme) for the purpose of providing guarantees to loans extended by Scheduled Commercial Banks under the Stand Up India Scheme and the said Government has been empowered to issue notification in respect of enforcement of this Scheme;
Central Government hereby appoints – (i) the 30th day of September, 2016 as the date on or before which a person may make a declaration under sub-section (1) of section 183; (ii) the 30th day of November, 2016 as the date on or before which the tax and surcharge is payable under section 184, and the penalty is payable under section 185 in respect of the undisclosed income;
He further stated that the reassessment proceeding is time bar and assessment cannot be reopen due to mere change of opinion after the assessment, the addition of Rs.29,65,101/- has wrongly been made, which was dully explained and duly credit in books of alc and there is no concealment.
ITAT held that making of an incorrect claim by assessee which is supported by a report of Chartered Accountant cannot be hold as furnishing inaccurate particulars of income. Therefore, penalty u/s 271(1)(c) is not warranted as the claim made under bonafide belief.
It was held that Once the assessment order of the AO in the quantum proceedings was altered by the CIT (A) in a significant way, the very basis of initiation of the penalty proceedings was rendered non-existent. The AO could not have thereafter continued the penalty proceedings on the basis of the same notice.
