NCLAT Delhi held that provident fund dues are not the assets of the Corporate Debtor and they have to be paid in full of all the pending dues of the Provident Fund Contribution, Provident Fund Administrative Cost, Interest for delay etc.
Discover the unique features of legal education and taxation. Explore the inherent disparities and differences between law colleges and lower judiciary.
It is well documented that the Discoms have been unable to pay their outstanding dues to the power generating companies over the last couple of years. This has led to an overall impact on the energy sector where generating companies are facing liquidity issues and are forced to incur additional finance costs.
CESTAT Chennai held that refund claims rejected as time-barred considering the date of re-submission of refund claim as the date of filing of refund claim and ignoring the date on which the initial/ original refund claim was filed is unsustainable in law.
s agricultural land is not covered under the definition of Capital asset, capital gains on transfer of the same is not taxed. Suitable provisions may be introduced to exclude this Capital gain while calculating Book Profit for the purpose of MAT.
In the present search and impugned assessment proceedings no new / hidden fact has come to light. The learned assessing officer has only changed the opinion and has now sought to tax the receipts in the year of receipt as against the year of registration. Thus, the additions in the impugned order are purely based on a change in legal opinion and not on any ‘incriminating material’.
Mobis India Limited Vs DCIT (Madras High Court) Hon’ble Supreme Court way back in 1979, in Indian and Eastern News Paper Society, put the issue beyond any pale of doubt by holding that the opinion on law rendered by an audit party cannot be the basis for exercising the power of reassessment. Evaluation of law […]
ITAT Chennai held that as the PoA and sale deed are executed on the same day clarifies that PoA holder has no legal right or interest in the property. Further, GPA (General Power of Attorney) has not accounted for consideration in his ROI. Hence entire sale consideration taxable in the hands of assessee.
A current account is a type of bank account where you can deposit and withdraw money. This is helpful if you want to access your money when you want to. You can also use a current account to make online purchases or to receive payments.
In simple words, Unit Linked Insurance Plan (ULIP) is a type of life insurance that offers dual benefits of insurance protection and wealth building. When you buy ULIP, like the standard insurance plan, you pay the premium periodically till the end of the policy tenure.
