If the assessee did not adhere to the surrender made during the survey, it was for the AO to bring on record cogent material or other evidence to support the additions rather than rely on the statements simpliciter.
Assessee, being co-operative society, is out of the provisions of section 80P(4) and eligible for deduction under section 80P(2)(a)(i)
Bali Nagwanshi Vs State of Chhattisgarh (Chhattisgarh High Court) The main contention of the respondent State, respondent-BRPL and respondent- Union of India is this that the whole process for determination of compensation was based on fraud and criminal conspiracy, as out of numerous land oustees, only two of them, namely, Bali Nagwanshi and Neelima Belsariya […]
Since the nature of activities conducted by the Board Of Control for Cricket in India were commercial activities, therefore, the appellant Board was covered by the provisions of ESIC Act and was liable to pay ESI contribution on the wages paid to the coverable employees.
Understanding TDS and TCS under Income Tax: Exploring sections 194Q and 206(1H) and their impact on businesses.
The expenditure incurred on Dombivali unit cannot be allocated to only EOU Toluja unit without any basis or sufficient material available on record.
The only issue remains for adjudication is whether the assessee is entitled to claim deduction u/s. 80IB(10) of the Act in respect of housing project undertaken and constructed by it despite the fact that nominal part is commercial area.
Discover the benefits of registering your business entity in Singapore. Explore the streamlined process, stable economy, and favorable corporate regulations.
Understand the significance of digitally signing a notice under section 148 of the Income-tax Act. Learn why it cannot be considered as the issuance of notice according to the Allahabad High Court.
Rule 86B restricts the utilisation of input tax credit available in the electronic credit ledger. Even though the supplier remits the full tax to the government, this rule restricts the recipient from utlising the credit to discharge the output tax liability in excess of 99%.
