Disallowance u/s 40(a)(ia) cannot be made if recipient has offered payment made by assessee as income in their hands. The Assessing Officer is directed to verify above facts and if it is found that payee has already offered above amount as income in their return of income, disallowance u/s.40(a)(ia) made by Assessing Officer would not survive.
ICSI request you to kindly consider granting extension of time for filing of financial statements and annual return for the financial year ended 31.03.2022 up to 31st December, 2022 without levying additional fee.
ITAT Delhi held that cloud services merely facilitates the flow of user data from the front end user through internet to the provider’s system and back. Accordingly, subscription received towards cloud services is not royalty income.
Extension of Validity regarding Export of Raw Sugar to USA under Tariff Rate Quota (TRQ) for the Fiscal Year 2022 from 30.09.2022 to 31.12.2022
मध्यप्रदेश | सूक्ष्म एवं लघु एवं मध्यम उद्योग (MSME) भारत की अर्थव्यवस्था की रीढ़ माने जाते हैं | पिछले कुछ वर्षों में केंद्र सरकार द्वारा मेक इन इंडिया , स्टैंड अप इंडिया मुद्रा , वोकल फॉर लोकल आदि योजनाओं के माध्यम से MSME उद्यम क्षेत्र में नई ऊर्जा भरने के प्रयास किये जा रहे हैं […]
CESTAT Ahmedabad held that direct participation and knowledge on the part of the person has to be established. In absence of sufficient evidence, penalty u/s 112(b) of the Customs Act, 1962 cannot be levied.
Notice could be issued under section 148 in relation to search and seizure as assessee was one of the investor/partner along with the others to acquire the land for TDR generation which could not be disputed and was admitted in the post search statement by the director and the assessee was provided the benefit of cross examination of the director to test check the authenticity of the transactions.
CESTAT Delhi held that if applicant does not claim benefit under a particular notification at initial stage, he is not debarred, prohibited or estopped from claiming such benefit at a later stage.
Penalty was not leviable as assessee made a computational error in not disallowing 1/6th out of expenses on car amounting to aforesaid Rs.1,63,263/- being 1/6th out of motor car expenses however assessees claim was accepted that this computational error was due to oversight and inadvertent mistake, and that the error was a bonafide one.
Discover how Zyden Gentec Limited faced an ₹8 Lakh penalty from MCA for not attaching Secretarial audit report (in form MR-3) for financial years 2015-16 and 2016-17, as required by Section 204 of Companies Act, 2013. Details of violation and penalties explained.
