No person is qualified to be appointed as the Presiding Officer- (a) of the Securities Appellate Tribunal established under the Securities Exchange Board of India Act, 1992 (15 of 1992), unless he is, or has been, a judge of Supreme Court or Chief Justice of High Court or a Judge of High Court for at least seven years;
Whether the applicant dealer is entitled to input tax credit on the purchase of capital goods used in the process of sale of goods from its storage facility at Bijwasan (Delhi)-provisions of section.
There has been constant reopening of assessments by Assessing Authorities on mere change of opinion while law is well settled on the point that an assessment cannot reopened by recourse to section 147/ 148 of the Income tax Act, 1961 on mere change of opinion of the Assessing Officer(AO).
The concept of Input Tax Credit is not new under GST, it is same as defined under present taxation system. But, the provisions under GST are altogether different. Input credit means at the time of paying tax on output, you can reduce the tax you have already paid on inputs.
Accounting fraud is intentional manipulation of financial statements to create a window dressing of a company’s financial health. It involves an employee, account or the organization itself and is misleading to investors and shareholders. A company canfalsify its financial statements by overstating its revenue or assets, not recording expenses and under-recording liabilities.
Under GST regime Services by way of pure labour contracts of construction, erection, commissioning, or installation of original works pertaining to a single residential unit otherwise than as a part of a residential complex is exempt. So people who are constructing 2nd holiday homes at Lonavala, Deolali etc will be exempt.
On the facts and in the circumstances of the case and in law, the ld. CIT(A) erred in deleting the addition of Rs 14,36,653 which was made by invoking the provisions of section 69C of the I. T. Act by treating the purchase are genuine without appreciating the fact that the notices u/s 133(6) issued to the parties were returned unnerved as addressee was not available at the given address.
The Delhi High Court, in the case of Deepak Malhotra vs Deepti Malhotra and Ors, has held that the proportion of the husband’s income to be awarded as maintenance pendente lite to the wife is dependent on the surrounding circumstances and cannot be determined by a strict mathematical formula.
A perusal of the common order of the ITAT shows that it first dealt with one common ground raised by the Assessee in all its appeals which concerned the jurisdictional issue of the validity of the invocation of Section 153A of the Act by the Revenue. It was contended that for the AYs 2000- 01 […]
Government, recently released Rules on electronic Way Bill under Goods and Services Tax (GST). A waybill is a document issued by a carrier giving details and instructions relating to the shipment of a consignment of goods. Typically it will show the names of the consignor and consignee, the point of origin of the consignment, its […]
