In FY 2016-17, 29,403 companies registered as LLP on all India basis The Limited Liability Partnership Rules, 2009 have been in force since 01.04.2009. The Limited Liability Partnership Rules provide for effectuating/implementing the provisions of Limited Liability Partnership Act, 2008. The Rules, inter-alia include procedures on incorporation of an LLP, its governance framework, relations interse […]
ROCs has removed the names of 2,26,166 companies as on 19.12.2017 from the register of companies by following the due procedure under Section 248 of the Companies Act, 2013.
Kolkata bench of Income Tax Appellate Tribunal (ITAT) recently quashed the re-assessment under section 147/148 of the Income Tax Act since service of notice by affixture was done at a wrong address.
These 7 appeals are involving common dispute and are accordingly taken up together for disposal. 6 appeals are by assessees. One is by Revenue. The appellant assessees are engaged in health care services to the patients and they are managing well-known hospitals/medical centres in various places.
Maruti Suzuki India Ltd. Vs ACIT (ITAT Delhi) The royalty paid to Suzuki Motor Corporation Japan by Maruti Suzuki India Ltd. for the use of licensed information held to be revenue expenditure
Assessee is not absolved of penalty because the additional income has been declared to buy peace. It must follow therefore that the above strategy (buy peace) by itself will not justify imposition of penalty, unless the requirement of the section under which the penalty is imposed are satisfied.
Following is the Exposure Draft of the Amendments to Ind AS 20, Accounting for Government Grants and Disclosure of Government Assistance, issued by the Accounting Standards Board of the Institute of Chartered Accountants of India for comments.
The Reserve Bank of India will shortly issue Rs. 10 denomination banknotes in the Mahatma Gandhi (New) Series, bearing signature of Dr. Urjit R. Patel, Governor, Reserve Bank of India. The new denomination has motif of Sun Temple, Konark on the reverse, depicting the country’s cultural heritage. The base colour of the note is Chocolate Brown.
In West Bengal State Co-operative Bank Ltd. v. DCIT, the Kolkata bench of Income Tax Appellate Tribunal in its recent order has held that the payment made by banks to casual workers on festive occasion can be allowed as deduction under section 37 of the Income Tax Act.
It has been decided that one representative of the rank of Commissioner or above from every zone shall attend every GST Council Meeting. In this regard Commissioner (GST) has already issued a letter dated 2nd January 2018.
