RV has liberty to adopt the cost approach to estimate the value of plant and machinery assets in accordance with International Valuation Standards. However, by not mentioning the details of the assets including present condition, which forms the basis of his estimation, the RV is in violation of sub rule 3(j) of Rule 8 of the Valuation Rules.
HC held that penalty under Section 129(1)(b) of the UPGST Act was unjustified and untenable since the owner has come forward for payment of penalty.
It is further observed and held that when the State is inclined to give some tax benefit to tax prayers, terms or provisions of the policy should be interpreted in a liberal manner and with an intention to see that the purpose for which the policy is framed is fulfilled and the beneficiaries is helped.
Amendment of Notification No.18/2023 Customs (NT) dated 30.03.2023 vide Notification No. 31/2023-Customs (N.T.) Dated: 26th April, 2023 MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS) New Delhi Notification No. 31/2023-Customs (N.T.) | Dated: 26th April, 2023 S.O. 1935(E). —In exercise of the powers conferred by sub-section (4) of section 51A […]
Amending Customs Notifications to implement the Amnesty Scheme for one time settlement of default in export obligation by Advance and EPCG authorization holders notified by DGFT Vide Notifications No. 32/2023-Customs Dated: 26th April, 2023 MINISTRYOF FINANCE (Department of Revenue) Notifications No. 32/2023-Customs |Dated : 26th April, 2023 G.S.R. 316(E).—In exercise of the powers conferred by […]
Inderjit Singh Mann Vs ACIT (ITAT Chandigarh) The assessee has filed copy of the sale deed dated 19.2.2009 in the paper book in which it is specifically mentioned that assessee received various advances from the purchasers on different dates in the year 2007 before execution of sale deed. According to the chart prepared by the […]
Once the documents clearly establish the name of the consignor, who is a registered dealer in the State, the proceedings should have been initiated against the owner of the firm instead of the driver, so as to enable him to respond to the notice.
It is submitted that Mobileye Connect is a surveying system used for collision avoidance and consists of three main components and functions of which are as under: (i) Camera Unit (ii) Display Unit (iii) GPS Unit
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