The Hyderabad bench of Income Tax Appellate Tribunal (ITAT), while allowing tax exemption under section 11 of the Income Tax Act to Kalinga Cultural Trust, held that the activity of letting out of marriage hall by the assessee- trust would not constitute commercial activity for the purpose of denying tax relief to them.
I would like to request you all to continue vigorously with the GST outreach programmes. Consequent to the GST Council meeting, the stakeholders need to be updated on any decision taken. Therefore, I would like rigorous efforts to be made under your personal supervision to disseminate clear and updated information to both the officers and staff of the department and the stakeholders.
1. The Institute of Chartered Accountants of India considers it a privilege to submit its suggestions on GST Implementation Issues. We have segregated the 217 suggestions in 3 parts: Policy related issues Law Related Issues Procedural Issues We shall be pleased to discuss suggestion in meeting to illustrate the points made by us. 2. We […]
CIT(A) has been given power u/s. 251 of the Act to confirm the order of AO reduce, enhance or annul assessment order under the provision of Act but there is no power available to Ld. CIT(A) to give direction to AO for reopening the case of other years.
For detailed provisions and regulations, please refer PFRDA (Exit and Withdrawal under National Pension System) Regulations 2015 and subsequent amendments under it, The same are also available on website of PFRDA at www.pfrda.org.in.
The Brand promotion fee was not taxable until Negative list came into effect from 01.07.2010 and hence there cannot be any liability upon the Respondent till that period.
Tribunal was not justified in holding that the failure to initiate penalty proceedings in the course of the assessment did not render the assessment order erroneous and prejudicial to the interest of the revenue. The Commissioner had the jurisdiction to revise such an order.
Attention of all officers and concerned staff is invited to the Standing Order No. 70/2016 dated 25.11.2016 on the above subject. The following entry shall be added immediately after Sr.No.7 to the Standing Order No. 70/2016 dated 25.11.2016.
The High Court held that the power to enact a validation law is an essential legislative power that can be exercised, in the context of the Act, only by the Parliament and not by the executive. If done so it would be ultra vires the Act and Article 141 read with Article 144 and 265 of the Constitution. Thus, in context of the amendment to Section 145(2) the High Court held that ICDS are not meant to overrule the provisions of the Act, the Rules thereunder and the judicial precedents.
No one likes to talk about death. We must accept the fact that everyone born in this world must face the reality of death. Not only losing the loved ones, most of the times, families get into serious financial crisis. The health of the elderly parents, education of children, and life of the spouse are […]
