In this case on the applicability of VAT Rate under Bombay Sales Tax Act, 1959 it was held by Bombay High Court that Tribunal was justified in holding that the bearings sold by the Applicant were covered by Entry C-II-146 of the Bombay Sales Tax Act, 1959 and not by Entry C-II102(2) as auto parts and C-II135 as tractor parts read with Entry A-35 of the Notification issued under Section 41 of the Bombay Sales Tax Act, 1959.
In the present case, we find that the petitioners’ argument is that it is impossible for them to remember what was the issue and some decades back, what are the records on which it is based and how it is to be presented. Possibly all the records with them are destroyed or the units having been rearranged, it is impossible for them to retrace the records for want of staff and resources. In the circumstances, we do not think that the petitioners should be denied the relief.
To our mind, in the instant case, what has emerged is that the Assessee, having realised that the expenditure claimed towards travelling under Section 57 of the Act was not tenable, offered the amounts expended to be added to her income and, accordingly, paid the requisite tax and interest upon the same. In our opinion, this was not a case, where, the Assessee could be said to have either concealed particulars or furnished inaccurate particulars of her income.
ITAT held that amount surrendered by way of investment in the unrecorded stock of rice has to be brought to tax under the head business income. It Further held that Only real income can be taxed, hypothetical income cannot be taxed nor income can be taxed in vacuum.
All wages shall be paid in current coin or currency notes or by cheque or by crediting the wages in the bank account of the workman:
A hospital attached to a Medical College can be treated as a building used for educational purposes only when medical relief offered in said hospital is free of cost.
Our Government under the unparalleled, dynamic and visionary leadership of the Prime Minister Shri Narendra Modiji is making relentless efforts to achieve its motto of ‘Sabka Sath Sabka Vikas’. ‘Sabka Sath’ envisages ‘Antyodaya’, where the empowering rays of opportunity reach the most deprived people i.e. the poor, marginalised and other vulnerable sections of the society.
Promulgation of Defence of Procurement Policy (DPP)-2016 was the first step towards making fundamental changes in the way weapons platforms are acquired in India.
Procedure for dealing with shipping bill copies consequent to doing away of Exchange Control Copy and Export Promotion Copy of shipping bill
Members from trade exporting goods in Refrigerated containers have again requested for reconsideration of Public Notice 174/2016 dated 15.12.2016 & Public Notice No. 03/2017, dated 09.01.2017, wherein it was clarified that:
