Benchmarrk Realty LLP Vs DCIT (ITAT Pune) -
ITAT Pune held that bonafide belief that as there is no sales there is no need of tax audit is not acceptable as Gross receipt of the assessee is more than INR 1 Crore. Accordingly, penalty u/s 271B imposable for default in not getting books audited....
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Buro Happold Limited Vs DCIT (ITAT Mumbai) -
ITAT Mumbai held that mere passing off project specific architectural, drawings and designs with measurements does not amount to making available technical knowledge, experience, skill, knowhow or processes. Accordingly, cannot be brought to tax as Fee for Technical Services....
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Ritika Industries Vs State of Maharashtra (Bombay High Court) -
Bombay High Court held that an application u/s. 91 of the Code of Criminal Procedure praying for issuance of summons to income tax authorities to produce documents in respect of Income Tax Return, balance sheet etc. of the complainant is allowable as accused suspects that copies provided by complainant are not genuine....
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DCIT Vs Podar Education Trusts (ITAT Mumbai) -
ITAT Mumbai held that denial of exemption under section 10(23C) of the Income Tax Act on allegation of bogus donation unsustainable in absence of evidence that donation made by assessee to those trust are bogus....
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ITO Vs Hemant Kr. Das (ITAT Kolkata) -
ITAT Kolkata held that reduction of adhoc disallowance of miscellaneous expenditure from 15% to 5% justified as 1st Appellate Authority has exercised discretion in working out the adhoc disallowance....
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ACIT Vs Wyeth Ltd (ITAT Mumbai) -
ITAT Mumbai held that excise duty and sales tax is to be excluded from total turnover while claiming deduction under section 80HHC of the Income Tax Act....
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Income Tax Act, 1961 defines charitable purpose as activities including providing relief to the poor promoting education and yoga, providing medical reliefs, preservation of environment and historical monuments and advancement of any other object of general public utility (GPU)...
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Article explain due date for Deposit of Tax Deducted (TDS) and for issue of TDS Certificate (Form 16A) under Income Tax Act, 1961. Article further explains due date of GSTR-7 (TDS Deductor), GSTR-8 (TCS Collector), GSTR-1 (Monthly), IFF (QRMP), GSTR-6 (ISD), GSTR-2B, GSTR-5, GSTR-5A, GSTR 3B and PMT-06. Article also contains due date of D...
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The restaurant industry defines “Service Charge” as a fee that is levied over and above the price of the food and drink for the additional convenience of serving inside a restaurant. They also emphasize that it is an internationally accepted best practice. TRANSACTION VALUE As per the GST law, GST will be charged on the […]...
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Patterns exist everywhere, more so in the stock market. The study of different patterns gives us vital information which can be used to forecast the future. In the table below, monthly closing prices for the SENSEX index have been considered for the months of December to March. The recorded data is for the previous 10 […]...
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