"20 December 2020" Archive

Special drive for Deemed Conveyance in Maharashtra

All housing societies are requested to please note the detail of special drive for Deemed Conveyance which will take place from 1st Jan 2021 to 25th Jan 2021. A Deemed conveyance is a document executed to transfer the title of land and building in name of the housing societies. Conveyance is a process in which […]...

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Posted Under: Corporate Law |

CESTAT set aside demand of service tax on Commission received from foreign companies

Sara Sae P Ltd. Vs Commissioner, Customs, Central Excise & Service Tax (CESTAT Delhi)

Sara Sae P Ltd. Vs Commissioner, Customs, Central Excise & Service Tax (CESTAT Delhi) The first issue is regarding the levy of service tax on the commission received from foreign companies has recently been decided against the Revenue by this Bench in M/s Involute Engineering Pvt. Ltd.5, both with regard to the period prior to [&helli...

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Section 115JB is applicable to insurance companies with effect from 01.04.2003

CIT Vs United India Insurance Company (Madras High Court)

CIT Vs United India Insurance Company (Madras High Court) Since the provision has been made applicable to the Insurance companies as well with effect from 01.04.2003, the Tribunal has to decide the issue on merits for the assessment year 2013-2014 and decide as to whether the assessing officer was right in computing dis-allowance reserved...

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Section 195 not applicable if expense was not paid or claimed

DCIT Vs Coffeeday Enterprises Ltd (ITAT Bangalore)

DCIT Vs Coffeeday Enterprises Ltd (ITAT Bangalore) In terms of section 195, the liability to withhold taxes arrears at the time of payment/credit of any interest (or any other sum) which is chargeable under the provisions of the Act. The payment/credit was not made till 31.03.2010 and also in terms of the Agreement, interest was […...

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Section 263 order invalid if it covers Matter not part of Limited Scrutiny

Deccan Paper Mills Co. Ltd. Vs CIT (ITAT Pune)

Deccan Paper Mills Co. Ltd. Vs CIT-IV (ITAT Pune) Now, coming to the aspect of book profits which was considered by the Commissioner and the order of the Assessing Officer was held to be erroneous and prejudicial to the interest of revenue. In this regard, it may be pointed out that the case of assessee […]...

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Disputes to be Adjudicated by DRT Under DRT Act are Non-Arbitrable: SC

Vidya Drolia And Others Vs Durga Trading Corporation (Supreme Court of India)

Vidya Drolia And Others Vs Durga Trading Corporation (Supreme Court of India) Section 43(1) of the Arbitration Act states that the Limitation Act, 1963 shall apply to arbitrations as it applies to court proceedings. Sub-section (2) states that for the purposes of the Arbitration Act and Limitation Act, arbitration shall be deemed to have ...

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Person not charged of a predicate offence also come within the sweep of PML Act

Dyani Antony Paul Vs Union Of India (Karnataka High Court)

Dyani Antony Paul Vs Union Of India (Karnataka High Court) The main object of PML Act is to ascertain the proceeds of crime which involved in money laundering and attachment, confirmation and confiscation of the proceeds of crime in the form of properties and also to punish the offenders of money laundering. The date of […]...

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CIT cannot expand limited scrutiny by section 263 Order

Sonali Hemant Bhavsar Vs PCIT (ITAT Mumbai)

Sonali Hemant Bhavsar Vs PCIT (ITAT Mumbai) We observe from the notice issued under section 143(2) of the Act for limited scrutiny dated 19.09.2016 and find merits in the contentions of the assessee that the said limited scrutiny can not be expanded unless the AO converted it into complete scrutiny with the approval of Ld. […]...

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GST on services provided by University to its constituent colleges relating to admission to, or conduct of examination

In re Bharathiyar University (AAR GST Tamilnadu)

In re Bharathiyar University (AAR GST Tamilnadu) Whether the services provided by the University to its constituent colleges (viz) self-financing and management colleges relating to admission to, or conduct of examination by such institution by way of affiliation fee, registration fee such as 1. Application form fees 2. Application fees (...

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Vivaad Se Vishwaas Scheme – What needs to be done

Recently there was an outreach by the Income Tax Department to the practicing CA’s to impress upon their clients to opt for the Vivadh se Vishwas scheme which will shortly conclude on 31-12-2020, though there is a likely hood of the scheme being further extended following the Luke warm response to the said scheme as […]...

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Posted Under: Corporate Law |

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