P.S.Shanmuga Sundaram Vs Director Treasuries and Accounts Department (Madras High Court) Facts- The Petitioners are in the business of vending stamp papers since 1988 and holding valid licenses. The grievance of the Writ Petitioners is that since January, 2015, the Respondents are illegally demanding the Petitioners to deposit Rs.15/- for every bundle of currency, i.e., bundle […]
As we see now a days, so many companies are getting incorporated successfully with different objectives in the form of Public, Private or any other identity as per the provisions of Companies Act, 2013 & via Several other applicable laws. Eventually even after incorporation, a number of compliances has to be done by the Company […]
From a conjoint reading of Section 2(1)(j)(A), Section 2(1)(o)(i), Section 3, Section 5 and Section 6 of the DTVSV Act, it is clear that there is no provision in the DTVSV Act, which authorises recovery of interest paid earlier by the Department under Section 244A as disputed tax, there being no statutory mandate for the Designated Authority to recover interest as disputed tax in the manner sought to be done in this case.
-We find that the ‘Commercial training/ education/ coaching’ provided by the appellant imparts skills to the students/ trainees to enable them to seek employment or undertake self-employment directly upon completion of the course.
Shaheen Khan Vs ITO (ITAT Allahabad) Facts- The main sources of income of the assessee were from interest on FDRs, interest on saving bank account and interest income of his minor son and daughter. ROI of the assessee was processed by Revenue u/s 143(1) of the Act, and later on the case of the assessee […]
Shujaat Ali Khan Vs ITO (ITAT Jaipur) Facts- Case of the assessee was reopened u/s 147 and notice u/s 148 was issued. The assessment U/s 143(3) r.w.s 147 was completed after making addition of Rs. 7,71,826/- being alleged undisclosed short-term capital gain on alleged sale of immovable property after invoking Section 50C of the Act. […]
HC held that is not proper on the part of State Bank of India to collect cash handling charges from the stamp vendors. Accordingly, the Second and Third Respondents have failed to establish that they have the authority to collect cash handling charges from the stamp vendors, who all are depositing money through Treasury Challans for purchase of stamps.
You will be very surprised to know that India is the 14th largest exporter of goods and services in the world. According to a recent report by the HSBC. India will be among the top 5 exporters by 2030. In last few years the Government of India is aggressively promoting the initiative of “Make in […]
A subsidiary should be excluded from consolidation when: 1. control is intended to be temporary because the subsidiary is acquired and held exclusively with a view to its subsequent disposal in the near future; or 2. it operates under severe long-term restrictions which significantly impair its ability to transfer funds to the parent.
All About Small Company The concept of small companies in India is relatively new. It was introduced by the Companies Act 2013 to support better facilitation of small businesses. Small Company – A private company is classified into a small company based on its size, i.e., paid-up share capital and turnover. In other words,such companies may be called […]
