Before a scheme can be regarded as a lottery, there must be the element of distribution of prizes which should be by chance or lot and such distribution should be among those who had paid a price for participating in the scheme. Mere gratuitous distribution without any price having been paid by the participants for acquiring the chance and receiving a prize that is ultimately distributed, would not amount to a lottery.
In view of the guidelines issued by the CBDT in Instruction 3/2003 the Tribunal was right in observing that by not making reference to the TPO, the Assessing Officer had breached the mandatory instructions issued by the CBDT.
Sabka vishwas (Legacy resolution dispute scheme 2019) and its procedure by Notification 05/2019 of Central Excise, NT dt 21.08.19 Introduction- It was announced in the Finance Budget 2019, for cases pending during Pre-GST regime in adjudication or appeal at any forum, this scheme offers a relief of 70 per cent from the duty demand if […]
Introduction: Sabka Vishwas (Legacy Dispute Resolution) Scheme, 2019 was introduced by the Finance Act 2019 which has now come into force vide Notification No. 05/2019 Central Excise-NT dated 21st August, 2019. By this Notification, government made Sabka Vishwas (Legacy Dispute Resolution) Scheme Rules, 2019 which shall be effective from 1st day of September, 2019 onwards. […]
Corporate Governance aimes at creating an organization which maximizes the wealth of shareholders. It envisages an organization in which emphasis is laid on fulfilling the social responsibilities towards the stakeholders in addition to the earning of profits.
The Vicious Circle of Setting up of Over-Ambitious Revenue Collection Targets – Revenue Authorities Over-Reaching Taxpayers- Withholding of Refunds!! With a view to provide the much needed stimulus and push to the falling GDP growth rate and the currently prevailing slow-down in economy, the Hon’ble Finance Minister (FM) Smt. Nirmala Sitharaman, in a press conference […]
In order to encourage investment in the capital market, it has been decided to withdraw the enhanced surcharge levied by Finance (No. 2) Act, 2019 on tax payable at special rate on income arising from the transfer of equity share/unit referred to in section 111A and section 112A of the Income-tax Act,1961(the ‘Act’) from the current FY 2019-20. The following capital assets are mentioned in section 111A and section 112A of the Act:
Life is always undefined and under this uncertainty it is highly imperative to secure your family’s financial needs in your absence. There are several insurance companies offering different types of term plans in the market. Selecting the best amongst them can certainly be difficult. Here you can learn the features of an ideal term plan […]
Hi All. My Previous Tool GSTR 2A Reconciliation Tool is Help to find GST not Filed Suppliers and GST Filed Suppliers We not Taken Input., Etc., As per This tool only shows Month Wise Data’s Only. Here I Introduce “GSTR 2A Reconciliation Suppliers Invoice Wise Tool” for to Take Breakup of GST Not Filed Suppliers […]
The date of implementation of Rule 138E of the CGST Rules, 2017 which pertains to blocking of e-way bills on non-filing of returns for two consecutive tax periods, has been extended to 21. 11.2019 from 21.08.2019.
