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Archive: August, 2022

Posts in August, 2022

Case Analysis: Gujarat State Road Transport vs. Ramanbhai Prabhatbhai & Another

August 12, 2022 4536 Views 0 comment Print

The present case is related to the compensation to be awarded to the brothers of the deceased who was a victim in a motor vehicle accident. The case helps us understand as to who can be an heir and legal representative who is entitled to claim compensation under the Fatal Accidents Act and Motor Vehicles Act.

Advantages of Doing Dual Specialization From CIMA Institute

August 12, 2022 1401 Views 0 comment Print

CIMA® credential is more appropriate for professionals who are looking to work in multinational corporations, investment banking, brokerage firms, mutual funds, hedge funds etc. , and also various business entities.

Credibility of Child Witness under the Indian Evidence Act

August 12, 2022 17178 Views 0 comment Print

Judicial proceedings in India or anywhere in the world are incomplete without witnesses and evidence because a witness is a primary source of evidence. A witness is a person who gives testimony under oath before the court of law with regards to the facts in issue and the case at hand.

दाल मिलों के बाय-प्रोडक्ट के कर मुक्त होने के संबंध में भ्रम की स्थिति

August 12, 2022 2481 Views 1 comment Print

इस सर्कूलर में यह कहा गया है कि दलहन की मीलिंग के दौरान निर्मित होने वाले बाय-प्रोडक्ट्स जैसे कि छिलका, खंडा एवं चूरी पर जीएसटी लागू है अथवा नहीं। इस संबंध में प्राप्त हुए रिप्रजेन्टेशन के तारतम्य में क्लेरिफिकेशन जारी किये जा रहे हैं।

Corporate Insolvency Resolution Process Initiated by Operational Creditor – Full Procedure

August 12, 2022 17211 Views 1 comment Print

Steps involved in CIRP Step 1: Notice The Operational Creditor is required to deliver Demand notice (in Form 3) (or) copy of invoice attached with a notice (in Form 4) to the corporate debtor.

TDS not deductible on payment for usage of rights for internet/ telecom facility

August 12, 2022 81228 Views 0 comment Print

Held that payment made for usage of rights for the internet and telecom facility doesn’t fall in the nature of work defined u/s 194C and hence TDS not deductible.

Waiver of pre-deposit is not tenable on account of financial inability

August 12, 2022 2739 Views 0 comment Print

Whether wavering of pre-deposit on the grounds of Section 129E of the Customs Act, 1962 existing prior to August 06, 2014 is feasible?

Section 40A(2)(b) Disallowance not valid if AO not formed opinion on excessive or unreasonable deduction

August 12, 2022 4587 Views 0 comment Print

A.O while working out disallowance under section 40A(2)(b), had though observed that the payment of salary to the aforementioned two related parties in question was found to be excessive, but had fundamentally erred by not opining as to what as per him was the fair market value of the service which were being rendered by the aforementioned related persons, considering which the payments made to them by the assessee were to held as excessive.

Dismissal of appeal on account of non payment of taxes – ITAT restored matter to CIT(A)

August 12, 2022 2547 Views 0 comment Print

Dismissal of appeal in limine on account of non payment of taxes & non filing of returns u/s.153A. Appeal restored to file of CIT(A) in view of proviso to section 249(4)(b) to exercise the discretion vested in him & to consider the plea taken by appellant as regards financial difficulties.

Section 271B penalty notice after 30 months of completion of assessment is not sustainable

August 12, 2022 2925 Views 0 comment Print

Levy of penalty by the assessing officer after passage 30 months after the completion of the assessment, we are of the opinion that the penalty proceedings are barred by limitation and consequently penalties levied under section 271B cannot be sustained

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