Since the stock sold was very old, it was not strange to sell them at reduced rate and AO had no authority to compel assessee as to at which rate, assessee had to make sale of its goods, hence, deduction of trading loss on sale of stock was allowable.
As CIT(E) rejected assessee’s application for registration ex-parte under section 12AA without affording reasonable opportunity of being heard to assessee in terms of section 12AA(1)(b)(ii), therefore, the matter was restored back to the file of the CIT (Exemptions) for fresh examination and adjudication.
Shri Deepak Kumar Khurana Vs M/s Sattva Developers Pvt Ltd. (National Anti-Profiteering Authority) The Respondent has himself admitted that there has been benefit of ITC derived and the benefit has been passed on by him to all his customers with whom agreements were entered on or before 30.06.2017. According to him the benefit has been […]
Using deceptive terms to deceive home-buyers is a common practice in the real estate industry. The terms usually used by the developers in the Builder-Buyer Agreement can be tricky for those who don’t understand their actual meaning. Here are some of the important terms every investor/home-buyer in the real estate industry shall be aware of: […]
It has been decided that the quota of 1 Lakh MT may be distributed amongst the MMTC and NAFED equally. Therefore, MMTC and NAFED are allocated 50.000 MT each of Maize (feed grade) under the TRQ Scheme for 2019-20. subject to the conditions mentioned in Trade Notice no.02 dated 03.04.2019 and these imports should only take place with ‘actual user condition’ so that the poultry farms are only allowed to import with the concessional duty and others don’t derive benefit out of this measure.
Deduction under Section 36(1)(va) with regard to Employees’ Provident Fund, Labour Welfare Fund and Employees’ State Insurance was not allowable where contribution had been made after the due date prescribed in the respective enactments.
Reassessment order passed u/s 147 r.w.s 143(3) by issuing notice under section 148 but without issuance of notice u/s 143(2) was invalid and void ab initio and thus liable to be quashed.
This Public Notice waives off the requirement of destruction certificate from excise/custom authorities for the unutilized duty free unregistered sources with pre-import condition. GOVERNMENT OF INDIA MINISTRY OF COMMERCE AND INDUSTRY DEPARTMENT OF COMMERCE DIRECTORATE GENERAL OF FOREIGN TRADE PUBLIC NOTICE NO. 11/2015-2020-DGFT NEW DELHI : Dated the 14th June, 2019 Subject: Waiving off the requirement […]
Government of India Ministry of Finance (Department of Revenue) (Central Board of Indirect Taxes and Customs) Notification No. 41/2019-CUSTOMS (N.T.) New Delhi, 14th June, 2019 S.O. 1965(E).- In exercise of the powers conferred by sub-section (2) of section 14 of the Customs Act, 1962 (52 of 1962), the Central Board of Indirect Taxes & Customs, being […]
Postpone the last date for filing yearly returns in Forms GSTR 9,GSTR 9A and GSTR 9C or withdraw it completely, at least for the FY 2017-18
