Definition of Affidavit 1. In India, As per General Clauses Act Section 3(3)- ‘Affidavit’ shall include affirmation and declaration in the case of person by law allowed to affirm or declare instead of swearing. 2. Black’s Law Dictionary defines affidavit as: “A voluntary declaration of facts written down and sworn to by the declarant before […]
G.N. Venugopal Vs ACIT (ITAT Bangalore) Conclusion: Merely because of the fact that the land was sold for profit, it could not be held that income arising from the sale of land was taxable as profit arising from the adventure in the nature of trade. Where land was not subjected to any conversion as non-agricultural […]
Stay ahead of the game with the latest ITR changes for FY 2022-23. Be prepared with the necessary documents for filing your taxes.
MCA vide notification dated 10th September 2018, introduced Rule 9A to the Companies (Prospectus and Allotment of Securities) Rules, 2014 through the Companies (Prospectus and Allotment of Securities) Third Amendment Rules, 2018 for issue of securities in dematerialized form by unlisted public companies effective from 2nd October 2018. The above rule corresponds to Section 29 […]
Sasken Communication Technologies Ltd I.T.A. No. 241 of 2011 dated 10 June 2020 Karnataka High Court Karnataka HC rules that non-compete fees paid to key employees at the time of joining is in the nature of salary income. BRIEF FACTS: In the case of Sasken Communication Technologies Ltd (Taxpayer), the issue before the HC was. […]
Since provisions of Sec 95 (a) are very clear and unambiguous that only a supplier can file an application for advance ruling, the contentions of the applicant are not accepted. The said provisions were discussed with the applicant’s authorized representative during the course of the final hearing and he agreed that the questions are not maintainable and not capable of being covered under Scope of section 95(a) of GST Act.
In re Crystal Crop Protection Limited (GST AAR Maharashtra) Question 1: – Whether the transaction of transfer of business by way of merger of two GST registrations/ distinct persons would constitute ‘supply’ under the GST law? Answer: – Answered in the affirmative. Question 2: – Whether the transaction of transfer of business by way of merger of two […]
Ld. CIT(A) also failed to consider that as per section 159 of the Act, the legal heir is supposed to file the return of income. The assessee is the only legal heir of his deceased father and his mother is also pre-deceased her husband.
In re Time Technoplast Ltd (GST AAAR Karnataka) It is a settled issue that benefit under a conditional notification cannot be extended in case of non-fulfillment of conditions and/or non-compliance of procedure prescribed therein. The basic rule in interpretation of any statutory provision is that the plain words of the statute must be given effect […]
In re Workplace Options India Pvt Ltd (GST AAAR Karnataka) The Appellant has argued before us that determination of liability to pay tax on any goods or services is a matter which is well within the ambit of an advance ruling and if the said determination involves examining the place of supply, then the same […]
