Challenging the order dated 02.03.2015 in Appeal No 98/13-14/GZN/63 for the assessment year 2010-11 passed by the learned Commissioner of Income-tax (Appeals), Muzaffarnagar (for short hereinafter called as the learned CIT(A)), the assessee preferred this appeal.
Malayala Manorama Co. Ltd. Vs ACIT (Kerala High Court) Rule 9B(5) starts with a non-obstante Under the said rule, it is laid down that deduction under Rule 9B shall not be allowed unless the distributor credits in the books of accounts, the amounts realised by the distributor in case where the distributor himself has exhibited […]
We have come across cases wherein the tax invoice on the basis of which input tax credit (ITC) is availed do not contain all the particulars as stipulated by law. As an example place of supply or SAC is not stated. Issue for the present article is whether ITC can be validly claimed on such defective invoices ?
CIT Vs. Cactus Imaging India (P.) Ltd. (Madras High Court) It can be inferred that the machines ‘computer printers’ under consideration can either be called computers-printers, since a lot of independent functions done by the computers are done by these printers and they can be called an integral part of the computer system. It should […]
The Government of India with the 101th Constitutional amendment has brought a pathbreaking tax reform, Goods and Service Tax (GST), which has simplified the erstwhile indirect tax regime which was mired into multi layered taxes levied by both Centre and State Government and is a cure for all ills of existing indirect tax regime.
Article explains Board’s Report – Ready Reckoner (including amendment under Companies (Amendment) Act, 2017), Additional Compliance For Listed Companies Under SEBI (Listing Obligations And Disclosure Requirements) Reg, 2015 And Punishment For Non Compliance Of Section 134 Of Companies Act, 2013. Sl. No. Section under Companies Act, 2013 / its Rules Particulars Applicable to Company Type […]
M/s Kishan Lal Vs Additional Commissioner Of Commercial Tax (Chhattisgarh High Court) In the proviso (a) to sub-section (3) of Section 49 of the VAT Act an embargo has been created for the purpose that no proceeding initiating suo motu revision under Section 49 (3) shall be initiated after the expiry of three calendar years […]
We are concerned in this petition with the actions of the RBI and the Enforcement Directorate, both of whom refer to the criminal proceedings launched by the CBI. Those in-charge of their affairs and those in power giving them directions ought to realise that nothing would be achieved if foundations and base of these institutions is shaken and if they allegedly obey every command of the political masters
The Journey of GST in India is now completing one year and it is the time to analyse the impact of GST on all the stakeholders viz. The Law makers- Government of India, The Taxpaying Public- the dealers and the professionals managing the GST- The Tax Professional, Tax advocates and the CAs.
Section 80GG allows the employee to a deduction in respect of house rent paid by him for his own residence. Such deduction is permissible subject to the following conditions :- (a) the employee has not been in receipt of any House Rent Allowance specifically granted to him which qualifies for exemption under section 10(13A) of the Act; (b) the employee files the declaration in Form No. 10BA.
