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Archive: 10 April 2017

Posts in 10 April 2017

Appointment of Consultants for GST Implementation in Indian Bank

April 10, 2017 1299 Views 0 comment Print

Request For Proposal (RFP) For Engagement Of Consultant For Implementation Of Goods And Services Tax (GST) in Indian Bank. Last date of submission of Applications : 25.04.2017

Appointment of Consultants for GST Implementation in Central Bank of India

April 10, 2017 2547 Views 0 comment Print

Request For Proposal (RFP) for Appointment of Consultant for Implementation of Goods and Service Tax (GST) and Advisory Services Relating to Periodical Compliances in CENTRAL BANK OF INDIA

1st proviso to Sec. 68 inserted by Finance Act, 2012 is prospective: Bombay HC

April 10, 2017 5682 Views 0 comment Print

This Appeal under Section 260 ­A of the Income Tax Act, 1961 (the Act) challenges the order dated 23rd April, 2014 passed by the Income Tax Appellate Tribunal (the Tribunal). The impugned order is in respect of Assessment Year 2008­- 09.

Cenvat refund cannot be denied for mere non registration of premises

April 10, 2017 4812 Views 0 comment Print

In our view, Questions No.2 and 3 seeks to raise an issue of law, which, already stands covered against the Revenue. We are, in respectful agreement, with the views taken by the Karnataka and Allahabad High Courts, as articulated in their respective judgments to which reference is made hereinabove.

Investigate leakages of Confidential Data / ITR filed by Tax Payers: CIC

April 10, 2017 15942 Views 0 comment Print

It is essential to protect the Confidential Financial Data filed by millions of Tax Payers from falling into wrong hands in the larger public interest.

Ground of lack of jurisdiction may be raised at a subsequent stage in Appeal

April 10, 2017 3435 Views 0 comment Print

The present income tax appeal under Section 260 A of the Income Tax Act, 1961 (hereinafter referred to as the Act) has been filed by the assessee against the order dated 2.3.2009 of the Income Tax Appellate Tribunal, Delhi Bench, New Delhi for the assessment year 1997-98.

Non-appearance of supplier cannot be the sole basis to terms purchase as bogus

April 10, 2017 1479 Views 0 comment Print

Non-appearance of the supplier in absence of any other corroborate evidence cannot be sole basis to justify the stand of the Revenue that a transaction of purchase is bogus

1st proviso to Sec. 68 inserted by Finance Act, 2012 is retrospective: ITAT Kolkatta

April 10, 2017 3066 Views 0 comment Print

1st proviso to Sec.68 of the Act inserted by the Finance Act, 2012 w.e.f. 1-4.2013 was only prospective in operation, we are of the view that since section 68 covers `any sum credited’ in the books without any exception

Lok Sabha passes Motor Vehicle Amendment Bill 2017

April 10, 2017 2001 Views 0 comment Print

THE MOTOR VEHICLES (AMENDMENT) BILL, 2017 A BILL further to amend the Motor Vehicles Act, 1988. It shall come into force on such date as the Central Government may, by notification in the Official Gazette, appoint and different dates may be appointed for different provisions of this Act and any reference in any such provision to the commencement of this Act shal be construed as a reference to the coming into force of that provision.

Normal Sale /Purchase transactions – Embedded Derivatives as per Ind-As IFRS

April 10, 2017 8028 Views 2 comments Print

Normal sale and purchase transactions (i.e. non financial instruments) which are being done based on delivery basis still can contain embedded derivatives in case of payments have been contracted in foreign currency.

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