The issue under consideration is whether the penalty proceeding initiated after 4.5 years from date of original assessment order is justified in lawand also when order was silent about the levy of penalty under section 271B?
The issue under consideration is whether ITAT was right in law in holding Section 50B i.e slump sale was not applicable in present case of assessee?
ITAT states that, disclosure of manner in which undisclosed income was earned and substantiating the manner in which undisclosed income was earned are two different things. Hence, there is no clarity in the stand of the Revenue for initiation of penalty under Section 271AAA,
By virtue of the definition of ‘promoter group’ under the ICDR, the daughters of the promoters are immediate relatives and are a part of the promoter group irrespective of the fact that they are married and living a separate life or that they do not have any involvement in the management of the Company. Moreover, […]
Merely because assessee has inserted some figures, which are not in coherence with the other figures in the income tax return, there is a mistake apparent from the record, which needs to be rectified. Thus, the lower authorities are not justified in rejecting the application under section 154 of the act of the assessee. Hence, ITAT allow the appeal of the assessee.
The issue under consideration is relating to the writ petition filed for seeking refund of pre-deposit of Service Tax alongwith interest. Question is whether petitioner will get the refund or not?
The issue under consideration is whether the receipt of advance vis-a-vis no accumulated profit in case of lending company is considered as deemed dividend u/s 2(22)(e)?
Procedure to be followed for Transfer of Shares by Foreign Investor to any other Foreign Company Example A Ltd (Company Incorporated in India) B Ltd (A foreign Company holds 100% of A Ltd) C Ltd (A foreign Company holds 100% of B Ltd i.e the ultimate holding Company of A ltd. B Ltd has decided […]
DIN APPLICATION: Any person who intends to be a Director of a Company or Designated Partner of a LLP is required to have a valid Director Identification Number (DIN) or Designated Partner Identification Number (DPIN). Such person intending to apply for DIN will be required to make an application in e-Form DIR-3. DOCUMENTS REQUIRED TO […]
Recently, the news of the Hong Kong Extradition law protests and the extradition of the defaulter Liquid baron and Kingfisher Airlines Vijay Mallya have been making headlines in news. Vijay Mallya is a noted defaulter in India who dodged in loans worth 9000 crores which he had no intention of repaying the amount and took shelter in Britain and since then […]
