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 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 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
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 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.
The centenary of Mahatma Gandhi’s first Satyagraha in India is being marked this April. It was undertaken in the erstwhile undivided Champaran district in northern Bihar.
National Service Scheme (NSS) was introduced in 1969 with the primary objective of developing the personality and character of the student youth through voluntary community service. Initially it was launched in 37 Universities involving about 40,000 volunteers.
A new liberalized E-visa regime has come into effect from April 1, 2017. It will bring cheer to citizens from 161 nations around the world planning to visit India.
All the Tax Practitioners (Chartered Accountants or otherwise) can understand the importance of composition scheme better (especially those who deal with the smaller business clients).
Battling adversity, as many as 826 housing projects are running behind schedule by an average of 39 months, with Punjab having the maximum of the delayed projects followed by Telangana and West Bengal, an ASSOCHAM study has found.
