Assessee had incurred only office expenditure and no expenditure relating to transportation of goods such as loading, unloading charge etc., has been debited, we are of the considered opinion that the assessee actually engaged himself not in the transportation business, but only facilitating or arranging transportation for various parties and he is a mere lorry booking agent. We, therefore, are of the opinion that the assessee cannot be held as the person responsible for deduction of tax at source and to the facts of the case the provisions under section 194C of the Act have no application.
From ‘date of allotment’ of capital asset, i.e., 15-2-2007 the holding period was more than 36 months on sale of property on 4-8-2010 as such, revenue authorities were not justified in treating the holding period from date of registration of property, i.e., 30-9-2009 and treating it as short-term capital gains, deduction under section 54F was, therefore, allowable.
The Lok Sabha on 4th July 2019 passed the Aadhaar (Amendment) Bill 2019, which seeks to replace Ordinance brought by the Centre last March. With over 122 crore Aadhaar numbers having been issued and with the widespread use of Aadhaar as a proof of identity for various purposes by the Government of India, State Governments […]
Usually, personal loans are unsecured loans and are available for both self-employed and salaried borrowers in order to help them to meet their private expenses that are immediate and urgent in nature. As mentioned above that the personal loans are unsecured loans and can be availed quickly without any security. However, the interest rate on […]
ACIT Vs Ashwin S. Bhalekar Beamon Chambers (ITAT Mumbai) Claim of the assessee that extinguishment of rights in the capital asset is a transfer of capital asset and capital gains and consequent allowance of claim of deduction under section 54 of the Act. The facts clearly show that the extinguishment of assessee’s right in Flat […]
Seeks to levy anti dumping duty on jute sacking cloth under tariff heading 5310 originating in or exported from Bangladesh to prevent the circumvention of levy of anti dumping duty levied on jute sacking bags vide notification No. 1/2017-Customs(ADD) dated 5th January, 2017. GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF REVENUE Notification No. 24/2019-Customs […]
Article contains E-Tutorial on Form 26QC Correction which includes Important Information for 26QC Correction, Brief steps for 26QC Correction, Description for Requested Status of 26QC Correction, Pictorial guide for 26QC Correction, Procedure for 26QC Correction with E-verify (Internet Banking), Pictorial guide for 26QC Correction with E-Verify (Internet Banking), Pictorial guide for 26QC Correction with DSC […]
A person who may have committed a violation of securities laws, other than those detailed in Tables VII to IX of Schedule II of the SEBI (Settlement Proceedings) Regulations, 2018, may make full disclosure of such violation and also provide substantial assistance in examination/investigation/inspection/inquiry/audit/any other proceedings that is initiated/is ongoing/yet to be initiated by the Board, against any person in respect of violation of the securities laws for the purpose of seeking grant of confidentiality and reduced settlement charges.
In re Embassy Industrial Parks Private Limited (GST AAR Haryana) Q. Whether input GST credit can be availed by the Applicant on pre-engineered structures which is movable in nature and accounted as ‘Plant and machinery’ and not capitalized as an immovable property? Ans. As per the definition of immovable property contained in the General Clauses […]
Master Direction – Regional Rural Banks (RRBs) – Priority Sector Lending – Targets and Classification (Updated as on June 18, 2019) Reserve Bank of India RBI/FIDD/2016-17/34 Master Direction FIDD.CO.Plan.2/04.09.01/2016-17 July 7, 2016 (Updated as on June 18, 2019) The Chairman All Regional Rural Banks Dear Sir/ Madam, MASTER DIRECTION-REGIONAL RURAL BANKS-PRIORITY SECTOR LENDING- TARGETS AND […]
