ITO (E) Vs. M/s Young Women’s Christian Association of Delhi (ITAT Delhi) Unrecognized courses are also comes within the meaning of education or in other words, it can be said that the charitable purposes includes relief to the poor, education (yoga), medical relief, preservation of environment and preservation of monuments or placed or objects of […]
It is seen that the grounds on which the ALP determined by the assessee has been rejected are reasonably debatable. The assessee had obtained a transfer pricing study from an outside expert and the objectivity of the same was not called into question.
Balaji Motion Pictures Ltd. Vs. DCIT (ITAT Mumbai) The assessee has given an explanation that keeping in view smallness of the amount being addition of Rs. 2,16,441/- and also keeping in view that the assessee had claimed a loss of more than of Rs. 9 crores in the return of income filed with the Revenue […]
An undertaking like the assessee, which derives profits from the business of processing, preservation and packaging of fruits or vegetables would be entitled to deduction under section 80IB(11A) of the Act from the initial assessment year, viz. the assessment year relevant to the previous year in which it begins such business.
Assessee-wife was not entitled to claim and be allowed exemption under Section 54 and 54 EC on the basis that both assessee’s being husband and wife had suo motu offered rental income equally in their returns of income and their intentions were that said property was a joint property and both of them having equal share therein because as per the recitals in the purchase and registered sale deeds of the aforesaid property, assessee-husband alone was the sole legal owner of the said property to the exclusion of all others, including his wife.
These are appeals filed by two assessees who are wife and husband. One appeal in IT(IT)A No.12/Bang/2014 is by Smt.Veena Nambyar directed against the order passed by the CIT (Appeals) -4, Bangalore dt.20.2.2014, in respect of the order of assessment passed. 143(3) of the Income Tax Act, 1961 (in short ‘the Act’) dt.27.12.2011.
Finance Ministry: Robust growth in manufacturing and significant acceleration in construction mark a turnaround in the country’s economic growth momentum; Heralding an improvement in the investment climate, real gross fixed capital formation is estimated to grow at a robust 7.6 percent for 2017-18, accelerating from 6.9 percent in Q2 2017-18 to 12 percent in Q3 2017-18.
Through this article I try to bring the difficulties faced in claiming the “Refund of unutilized ITC” due to zero rated supply of goods/services under bond/LUT because of restricting the claim period for a tax period in the online application of the GSTN portal.
Representations have been received from different dealers regarding issuance of declarations in Form-C under the Central Sales Tax Act, for inter-state purchase of High Speed Diesel for use in Captive power generation, mining activity etc., in view of implementation of Goods and Services Tax with effect from 1st July 2017.
GST input tax credit mechanism allows persons registered under GST to set-off their GST tax liability. Since GST is a consumption based tax, the input tax credit mechanism ensures that the ultimate GST liability is passed on to the consumer. Though input tax credit can be claimed by a person registered under GST for most inputs, […]
