Appointment of Tribunal Members under new rules: interim directions issued regarding the method for selection of Tribunal Members and their terms and period of appointment
Where assessee claimed loss on sale of motor car, which was wrongly debited to P&L account, but there were other motor cars also existing in block of assets and the said block of asset of motor car had not ceased to exist, therefore, the assessee was entitled to depreciation under section 32 on the block of assets consisting of motor car remaining after crediting sale proceeds of the motor car sold during the year, thus, matter was to be restored to the file of the AO for re-computation of depreciation.
Many of us get confused while opening the PDF downloaded/received from various government sites. The Income tax and TDS Site also contain many documents which require different type of Passwords to open the PDF downloaded/received from the respective sites. One person cannot remember all types of PDF passwords because the passwords are nearly same and contains a minor change which makes it even more confusing.
Understand the key changes in ITR forms for the AY 2018-19. Learn about the different forms and their applicability.
It cannot be a universal rule that once an appeal from the order of the Tribunal has been admitted in the quantum proceedings by High Court, then, ipso facto the issue is a debatable issue warranting deletion of penalty by the Tribunal.
In this modern day and age, information technology plays a big role. However, if you re not in the field of information technology yourself, you might not know just how information technology touches your life. In view of this Ministry of Corporate Affairs (MCA) has come up with new rules for Incorporation of Company under Companies Act, 2013 with a simplified procedure (SPICe).
Reopening of assessment of A.Y. 2005-06 after expiry of four years without obtaining approval of an officer of the rank of Joint Commissioner was bad in law and even if such approval had been granted, by the officer superior i.e., the DIT, it would not cure the defect.
In the Income-tax Rules, 1962, in rule 10VA, in sub-rule (2), for the words and brackets Member (Income-tax), Central Board of Direct Taxes, Department of Revenue, Ministry of Finance, North Block, New Delhi, the words, the Member, Central Board of Direct Taxes, Department of Revenue, Ministry of Finance, North Block, New Delhi having supervision and control over the work of Foreign Tax and Tax Research (FT&TR) Division shall be substituted.
The quarterly return for the quarter ending 31/03/2018 for a composition dealer is to be filed by 18th of April 2018. The professionals as well as the dealers were cought unawares when they came to know about the new offline utility made available on 06/04/2018 on the GSTN Portal.
A facility has been created to check the current status of IEC application and status of IEC transmission to ICEGATE. The status query is based on PAN used in IEC application made to DGFT.
