"05 November 2018" Archive - Page 3

No TDS on Land Acquisition from Illegal Occupants by MMRDA

CIT (TDS) Vs M/s Mumbai Metropolitan Regional (Bombay High Court)

CIT (TDS) Vs M/s Mumbai Metropolitan Regional (Bombay High Court) Section 194LA of the I.T.Act, 1961 inter alia deals with payment of compensation on acquisition of certain immovable property. Section 194LA of the I.T.Act, 1961 was brought into force with effect from 1st October, 2004. Section 194L of the I.T.Act, 1961 deals with payment ...

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Transfer completes if GPA & JDA registered containing intention of owner

Tamilnadu Brick Industries Vs ITO,(ITAT Chennai)

Tamilnadu Brick Industries Vs ITO (ITAT Chennai) The plea of the assessee is that the reckoning of date of transfer should be based on the execution of MOA dated 30.01.2012. The execution of MOA alone does not convey transfer of the schedule property to the developer within the meaning of section 2(47(v) of the Act […]...

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S. 153C List of shareholders maintained by company cannot be said to be belonging to such shareholders

DCIT Vs Esteem Textiles P. Ltd. (ITAT Delhi)

DCIT Vs Esteem Textiles P. Ltd. (ITAT Delhi)  Evidently, AO on the basis of a letter written by the company, which was returned by the assessee by putting its signature and seal in confirmation of the accounts, had framed the assessment under section 153C. However, the said document could not be said to belong to […]...

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E-way bill- Penalty order can be appealed before Appellate Authority

Air Transport Corporation (Assam) (P.) Ltd. Vs. State of U.P. (Allahabad High Court)

Against the order dated 30.11.2017 the petitioner has an statutory efficacious alternative remedy of filing an appeal under Section 107 of the U.P. Goods and Service Tax Act, 2017 read with Rule 109 A of the Rules....

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E-Way Bill- Goods seized- Penalty order passed- Writ cannot be filed

Bharat Iron Store Vs. Union of India (Allahabad High Court)

Petitioner has equally efficacious remedy of filing an appeal against the penalty order under Section 107 of the U.P. GST Act, 2017. It is left open to the petitioner to take recourse to the statutory remedy available to him under the law. We are not inclined to entertain this petition at this stage....

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Appeal cannot be filed against Seizure of goods in transit or storage

RK Overseas Vs UOI & Ors (Allahabad High Court)

RK Overseas Vs UOI & Ors (Allahabad High Court) On the conjoint reading of sections 107 and 121 of the Act it is thus apparent that though all orders passed under the Act by the adjudicating authority are appealable but not the ones which have been specifically excluded from the purview of appeal under section […]...

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A year on from the Paradise Papers, the lack of progress is worrying

A year on from Paradise Papers, lack of progress is worrying

A year on from the Paradise Papers, the world has not made sufficient progress to tackle the secrecy that facilitates the hiding of wealth in tax havens. With 10% of global GDP estimated to be hidden in tax havens, and inequality rising both in developed and developing countries, the lack of progress is worrying, according […]...

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Posted Under: Income Tax |

Highlights of Companies (Amendment) Ordinance, 2018

With the objective of promoting ease of doing business and ensuring better corporate governance, the Ministry of law and justice has notified the Companies (Amendment) Ordinance, 2018 and the same has also been promulgated by the President to be effective from the even date i.e. 2nd November, 2018. Further, the Companies (Amendment) Ordin...

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Posted Under: Income Tax |