"12 September 2021" Archive

Empanelment with UCO Bank of CA firms for Concurrent Audit

Application For Engagement Of Concurrent Auditor With UCO Bank (2021-2022) [For The Period 01-10-2021 TO 30-09-2022]- Last date for submission of application is 18-09-2021. UCO BANK AUDIT & INSPECTION DEPARTMENT HEAD OFFICE, KOLKATA NOTIFICATION Date : 12.09.2021 [EXPRESSION OF INTEREST FOR ENGAGEMENT OF CONCURRENT AUDITORS] Online ap...

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Posted Under: CA, CS, CMA | ,

Principle of Equal Pay for Equal Work Cannot be applied merely based on Designation: SC

Union of India Vs Manoj Kumar (Supreme Court of India)

Union of India Vs Manoj Kumar (Supreme Court of India) In this case Para 3.1.3 which dealt with the disparity between the Secretariat and field offices has canvassed a case for parity between similarly placed persons employed in field offices and the Secretariat; in view of the field offices being at the cutting edge of […]...

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TDS Credit allowable in Years In Which Income is Assessable to tax

DCIT Vs Sasken Network Engineering Limited (ITAT Bangalore)

DCIT Vs Sasken Network Engineering Limited (ITAT Bangalore) In terms of section 199, Rule 37BA provides that credit for tax deducted at source and paid to the Central Government shall be given for the Assessment Year for which such income is assessable. In case the income is assessable over a number of years, credit for […]...

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SEZ Act, 2005 overrides Finance Act 1994

Divi’s Laboratories Ltd. Vs The Commissioner of Central Tax (CESTAT Hyderabad)

Divi’s Laboratories Ltd. Vs Commissioner of Central Tax (CESTAT Hyderabad) It is submitted on behalf of appellant that appellant is an SEZ Unit. The chief contention of the Department for the part-rejection of the refund claim relates to service tax amount paid by the appellant on ocean freight services which is not included/covered und...

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Amount advanced in earlier year and received back in current year cannot be treated as unexplained cash credit

JCIT Vs Radhe Developers (India) Ltd. (ITAT Ahmedabad)

JCIT Vs Radhe Developers (India) Ltd. (ITAT Ahmedabad) In the case on hand, the assessee has received a sum of Rs. 3.59 crore from Shri Kanjibhai Desai which was treated as unexplained cash credit under section 68 of the Act by the AO. However, the learned CIT (A) was pleased to delete the addition made […]...

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Rent cannot be treated as Business income merely for commercial nature of Property

DCIT Vs Cache Properties Pvt. Ltd. (ITAT Hyderabad)

DCIT Vs Cache Properties Pvt. Ltd. (ITAT Hyderabad) Fact that the property let out is a commercial complex is not sufficient to treat the rental income therefrom as ‘Business Income’. The tests to be applied are; 1) the tenure of the lease, 2) the objects of the company; 3) the intention of the company; and […]...

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In absence of supportings HC upheld disallowance for expense via personal credit card of director

Swan Silk Private Limited Vs ACIT (Karnataka High Court)

Swan Silk Private Limited Vs ACIT (Karnataka High Court) The Assessing Officer with regard to claim disallowance of 50% of credit card expenses has held that the assessee has not adduced any evidence that drawings made by the Directors through their personal credit card are in fact, incurred for the purpose of business of the […]...

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Patiala House Court refuses Bail to accused of availing fraudulent ITC

Amit Dua Vs DGGI Delhi Zone Unit (Patiala House Court)

On behalf of department, application is opposed submitting that accused have utilized and availed fraudulent ineligible ITC to the tune of Rs 15 crates as such committed a serous economic offence....

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Employees Contribution to ESI & PF not allowable if paid after relevant due date

Vedvan Consultants Pvt. Ltd. Vs DCIT (ITAT Delhi)

Vedvan Consultants Pvt. Ltd. Vs DCIT (ITAT Delhi) The solitary ground is directed against the addition of Rs.94,33,788/- u/s 36(1)(va) of the Income Tax Act, 1961. Brief facts as noted from the impugned order are that an addition u/s 36(1)(va) has been made by the DCIT, CPC, Bangalore on account of delay in depositing the […]...

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SC explains when HC can entertain writ petition under Article 226

Assistant Commissioner of State Tax and Others Vs Commercial Steel Limited (Supreme Court)

Assistant Commissioner of State Tax and Others Vs Commercial Steel Limited (Supreme Court) In this case respondent had a statutory remedy under section 107. Instead of availing of the remedy, the respondent instituted a petition under Article 226. The existence of an alternate remedy is not an absolute bar to the maintainability of a writ...

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