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Archive: 23 March 2018

Posts in 23 March 2018

Lease rental income from letting out of warehouse constitutes business income

March 23, 2018 5703 Views 0 comment Print

The assessee, a company engaged in deriving rental income from letting out of warehouse, filed its return of income for asst. year 2013­14 on 29/8/2013 declaring income of Rs. 26,97,860/- treating the rental income received there form as business receipts and offering the same for taxation of business income. The case was taken up for scrutiny and the assessment was completed u/s 143(3) of the Income-tax Act, 1961 (in short ‘the Act’) vide order dated 24/3/2016

Sales Tax on LPG Cylinders payable on price finalized by MoP & NG

March 23, 2018 1629 Views 0 comment Print

Since a common question of law arises in these appeals, they are being disposed of by this common judgment. Briefly stated the facts are that the appellant­ assessee manufactures cylinders for storage of Liquefied Petroleum Gas (LPG). At the relevant time

‘RUN’ for reserving name: MCA allows two proposed names and one Resubmission

March 23, 2018 26382 Views 0 comment Print

9. Reservation of name.- An application for reservation of name shall be made through the web service available at by using form RUN (Reserve Unique Name) along with fee as provided in the Companies (Registration offices and fees) Rules, 2014, which may either be approved or rejected

GST AAR: Mere mentioning Aditya Birla name on Cereal packs to be construed as bearing brand name

March 23, 2018 3027 Views 0 comment Print

In re Aditya Birla Retail Limited (AAR Maharashtra) Also Read AAAR Ruling- Use of words Choice / Value / Superior on packing amounts to branding: AAAR Name Aditya Birla is a benchmark in itself and is associated with a certain trust and quality. Now, we see the definition of ‘brand name’ includes a name or […]

Commission to Sahayak for collecting milk liable for TDS u/s 194C

March 23, 2018 3984 Views 0 comment Print

Commission payments made by assessee to Sahayak was on percentage basis depending on various parameters like number of farmers pouring milk, fat and SNF factor in milk, quantity of milk collected etc. which ensured payment was commensurate with work performed and thus, the nature of work carried out by the Sahayak were covered by provisions of section 194C instead of section 194H and accordingly tax was deducted on the same accordingly. 

Trophies will be classified for GST based on constituent materials; Trophies of only base metals would be covered under Chapter Heading No. 8306: AAR

March 23, 2018 34971 Views 0 comment Print

The present application has been filed under section 97 of the Central Goods and Services Tax Act, 2017 and the Maharashtra Goods and Services Tax Act, 2017 [hereinafter referred to as the CGST Act and MGST Act] by ACRYMOLD, the applicant, seeking an advance ruling in respect of the following questions

Respondent in an appeal before Tribunal cannot seek any further or more relief than what had been granted to him by CIT(A)

March 23, 2018 2301 Views 0 comment Print

M/s. Tongani Tea Co. Limited Vs JCIT (ITAT Kolkata) Rule 27 of Income Tax (Appellate Tribunal) Rules can be invoked only to support the order appealed against on any of the grounds decided against the respondent Conclusion – The scope of rule 27 of the Income Tax (Appellate Tribunal) Rules, 1963 is limited only to support […]

IGST & compensation cess exemption to EOUs on imports till 01.10.2018

March 23, 2018 2976 Views 0 comment Print

In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government, being satisfied that it is necessary in the public interest so to do, hereby makes the following further amendments in the notification of the Government of India in the Ministry of Finance

CBEC reduces BCD to 5% on Opencell (15.6” & above) of LCD/LED TV panels

March 23, 2018 1389 Views 0 comment Print

Seeks to further amend notification No. 50/2017-Customs so as to reduce BCD from 10% to 5% on Opencell (15.6” and above) of LCD/LED TV panels.

CBEC notifies provisional assessment for imports of Jute Products

March 23, 2018 615 Views 0 comment Print

Seeks to notify provisional assessment for imports of Jute Products namely, Jute Yarn/Twine (multiple folded/cabled and single), Hessian fabric, and Jute sacking bags exported by M/s. Natural Jute Mill [Bangladesh] and M/s Kreation Global, LLC,USA [Bangladesh] .

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