It is pertinent to note that the assessee has actually received the salary from his previous employers after deducting the notice period as per the job agreement with them. Therefore, in our considered view, the actual salary received by the assessee is only taxable.
Amendment to Section 40 (a)(ia) of the Act by Finance Act, 2010 is retrospective with effect from 1st April, 2005 as held by various High Courts.
Any surplus money arising to an assessee on sale of agricultural land would always partake the character of agricultural income itself. The consideration stated in the Registered Sale Deed was agricultrual income. Likewise, the on money also should be treated as agricultural income.
Thus, the concept of Mutuality postulates that all the contributors to the common fund must be entitled to participate in the surplus and that all the participators in the surplus are contributors to the common fund. It is in this sense that the law postulates that there must be a complete identity between the contributors and the participators.
Order No. 56 of 2017 The following postings / transfers in the grade of Additional/ Joint Commissioner of Income Tax are hereby, ordered with immediate effect and until further orders:-
Order No. 55 of 2017 The following postings / transfers in the grade of Assistant / Deputy Commissioner of Income Tax are hereby, ordered with immediate effect and until further orders:-
Central Government is satisfied that according to a practice that was generally prevalent regarding levy of duty of excise (including non-levy thereof) under section 3 of the Central Excise Act, 1944 (1 of 1944), (hereinafter referred to as the said Act), on Heena Powder and Paste falling under Chapter 33 of the First Schedule to the Central Excise Tariff Act, 1985
In exercise of the powers conferred by Section 5 and Section 14A of the Foreign Trade (Development & Regulation) Act, 1992 (No.22 of 1992) read with Para 1.02 of the Foreign Trade Policy, 2015-2020, as amended, and in supersession of DGFT Notification No.38 (RE-2010) /2009-2014 dated 31st March, 2011, Notification no. 93(RE-2012)/2009-14 dated 6th January 2012
The provision for regulating export of non-SCOMET items having potential risk of use in or diversion to WMD/missile/military end use has been prescribed. Provision for Maintenance of Records has been prescribed. Amendments have been made in para 2.74 and para 2.81 for adherence to various Multilateral Export Control Regimes and to clarify the licensing jurisdiction of various SCOMET categories.
It appears that the Ld. Advocate appearing for the Appellant has mainly contested the appeal on the ground that under such circumstances Opposite Party Nos. 1 and 2 are not required to pay compensation of Rs.1,00,000/- to the complainant. However, we are of the opinion that contention of the Opposite Party Nos. 1 and 2 in this respect cannot be accepted.
