CIT (Exemption) Vs Mukund Bhavan Trust (Bombay High Court) Bombay High Court held that Income of trust to the extent of violation of section 13 of Income Tax Act, 1961 is liable to tax at maximum marginal rate. Section 11 Exemption cannot be denied for violation of section 13 of the Act. FULL TEXT OF […]
Monetary Policy Committee (MPC) at its meeting today (August 5, 2022) decided to: Increase the policy repo rate under the liquidity adjustment facility (LAF) by 50 basis points to 5.40 per cent with immediate effect.
Held that service tax on works contract is leviable only from 1st June 2007. Prior to that there was no concept of works contract under the Finance Act, 1994.
Held that compensation with interest received by the assessee up to the date of land acquired pursuant to the Hon’ble Supreme Court order should be taxed under the head Capital Gains.
Held that demand of services tax on the basis of TDS /26AS statements/ 3CD Statements are not sustainable.
Held that assessee providing education activities only which results in university degrees in various courses is eligible for exemption u/s 11.
Stay compliant with Section 8 Company regulations. Learn about the annual, monthly, and other compliances that must be followed.
Sh. Hasmukh Daftary Vs K D Lite Developers Pvt. Ltd. (NAA) The brief facts of the present case are that Applicant No. 1 had filed an Application before the Standing Committee stating that the Respondent had not passed on the benefit of ITC to him by way of commensurate reduction in the price of Flat […]
Applicant alleged profiteering by Ramprastha Promoter & Developer Pvt. Ltd in its project ‘Rise’, Ramprastha City, Sector-37D, Gurugram.
Director General of Anti-Profiteering Vs Elan Ltd. (NAA) The Authority has carefully examined the Report of the DGAP and it has been observed that the relevant events for the project Epic took place in GST regime and the Respondent had not availed any CENVAT/ITC, related to ‘EPIC’ project, in pre-GST regime and that the Respondent […]
