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It may be brought to the attention of all concerned that those unauthorisedly causing movement of goods, without generating e-way bill, wherever due, will be liable for strict action from the Department. Hence, I take this opportunity to remind everyone to adhere to the e-way bill rules and generate e-way bill wherever due, while causing inter-State movement of goods.
Capital gain to be assessed in the hands of all the legal heirs who have inherited the land and also shared the sale consideration. Cost of acquisition has to be determined by considering relevant provisions of the Act as well as the fair market value of the land as on 01.04.1981.
The input service credit on insurance is denied on the ground that these insurance has been taken for the family members of the employees which is in nature of perquisites. I do agree with the finding of the lower appellate authority as the insurance of family members of the employees has no concern with the business of manufacturing of the appellant.
Contributions made to certain relief funds and charitable institutions can be claimed as a deduction under Section 80G of the Income Tax Act. All donations are not eligible for deduction under section 80G. Only donations made to prescribed funds qualify as a deduction.
A division bench of the Delhi HC comprising Justice Sanjiv Khanna and Justice Chander Shekhar denied the dis allowance made in case of old creditors under section 40(1) of the Income Tax Act.
In the case of M/s. A.N. Build well Pvt. Ltd Vs. DCIT, the ITAT Delhi bench comprising Amit Shukla (JM) and SH. O.P. Kant (AM) was held that if the significant risk and reward are transferred to the buyer, the amount received from the buyer to the extent of the stage of completion of the project has accrued to the Assessee- Builder and it should be subject to tax in terms of section 5 of the Income Tax Act.
That the present writ petition may kindly be allowed and the impugned order dated 1010.2017 (Annex.13) passed by the Respondent No.4, impugned Order-in-Original dated 31.3.2005 (Annex.9) and impugned order – in – Appeal dated. 12.8.2015 (Annex.10) may kindly be quashed and set aside
Kailash A. Kothari Vs ITO (ITAT Mumbai) Learned departmental representative submitted that it is abundantly clear that the said donor has no capacity to give the said gift. He submitted that in absence of the cogency of the capacity, mere declaration of gift cannot be accepted as sufficient. He further submitted that the bank statement […]
Both appeals by assessee are directed against the different orders of the learned Commissioner (Appeals)-12, New Delhi, dated 28-2-2017 for assessment year 2011-2012, challenging the addition on merit as well as levy of penalty under section 271(1)(c) of the Income Tax Act, 1961.
Impugned in the present revision petitions are the different orders passed by Motor Accident Claims Tribunal, Bathinda, whereby the J.D.-Insurance Company was directed to deposit within 15 days the TDS amount, which has been deducted at source. The J.D. was given liberty to withdraw the TDS amount from Income Tax Department.
