ITAT followed Delhi High Court in Cheminvest and held that, unless during the relevant previous year, assessee earns any exempt income no disallowance under section 14A r/w rule 8D can be made.
In CBDT circular no.16 of 6th October 2015, the Board has clearly stated that cost incurred in abandoned projects should be allowed as revenue expenditure under section 37 of the Act.
This appeal has been filed by the assessee against the order of the Commissioner of Income-tax (Appeals)-32 [hereinafter called CIT(A)]02-0-2015 passed against the assessment order of the AO u/s 143(3) dated 23-12-2013 for A.Y. 201-12 on the following grounds
Apex Court in MAK Data P. Ltd., v/s. Commissioner of Income Tax 358 ITR 593, that voluntary disclosure itself does not release the assessee from penal consequences.
The new Trademark Rules, 2017 came into existence from March 6, 2017, which makes the entire trademark registration process easy & hassle-free and The Trademark Rules, 2002 are hereby repealed without prejudice to anything done under such rules before the coming into force of these rules.
FM approves the re-organisation of the field formations of the Central Board of Excise & Customs (CBEC) for the implementation of Goods & Services Tax (GST); CBEC is being renamed as the Central Board of Indirect Taxes & Customs (CBIC), after getting legislative approval
Buying a house is considered as one of the top priorities for any individual. At the same time, buying a house is the most time consuming and high energy demanding task of our lives.
