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Archive: 30 November 2018

Posts in 30 November 2018

Tax on services by way of granting of right of way by local authorities

November 30, 2018 6120 Views 0 comment Print

Exempting payment of Service Tax on services by way of granting of right of way by local authorities for period commencing from the 1st of July,2012 and ending with 30th of June,2017 vide Notification No. 1/2018-Service Tax Dated; 30th November, 2018

Foreign travel expenses of MD of company for business purpose allowable

November 30, 2018 15321 Views 0 comment Print

Foreign travelling expenses incurred by assessee-company for its Managing Director (MD) should be allowed as deduction as AO had no basis for holding the expenses incurred on the MDs trip to Germany as excessive or personal.

Mere Object clause in MOA not sufficient to claim rent as Business Income

November 30, 2018 6366 Views 0 comment Print

New Horizon Logiware (P) LTD Vs ITO (ITAT Delhi) AO has discussed the facts in detail and the relevant clauses of the lease deed and also mentioned that the said warehouse was already rented to present tenant (Tupperware) by earlier owner from whom assessee has purchased this building in this year. As per AO, the […]

Revised norms for Packing of Commodities in jute packaging material

November 30, 2018 1560 Views 1 comment Print

Minimum percentage of total production of commodity or class of commodities required to be packed in jute packaging material manufactured in India from raw jute produced in India is been notified for Foodgrains and Sugar with exceptions. MINISTRY OF TEXTILES ORDER New Delhi, the 30th November, 2018 S.O. 5878(E).—Whereas, the Central Government under sub-section (1) […]

Advance rent & security deposit cannot be treated as deemed dividend

November 30, 2018 11856 Views 0 comment Print

Shri Jinendra Kumar Jain Vs ACIT (ITAT Delhi) It is, therefore, clear from the evidence on record that assessee in fact, has let-out the joint property to the tenant company and has received advance as well as security deposit of the aforesaid amounts. The authorities below rejected the claim of assessee because the amount of […]

Tariff Notification No. 94/2018-Customs (N.T.) Dated: 30.11.2018

November 30, 2018 1260 Views 0 comment Print

Tariff Notification No. 94/2018-Customs (N.T.) Dated:- 30.11.2018 in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Poppy Seeds, Areca Nut, Gold and Sliver

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