The item under description, Other – Brakes and Servo Brakes and Part thereof has been incentivized irrespective of the ITC(HS) codes (87082900 or 87083000) mentioned against the product description, exported under Foreign Trade Policy 2009-14 between 05.06.2012 and 24.02.2014.
In rule 114E (i) in the marginal heading, after the words Information Return, the words or Statement of Financial Transactions shall be inserted. Rule 114E of the Rules, as amended by this rule shall be applicable for the specified financial transactions carried out during the period from 1st April, 2015 to 31st March, 2016.
(A)The facility of VAT refund shall be available to the Embassy on purchase of items viz;- i. Telephone, Internet, Electricity, Water and Gas Bills of Chancery Premises and Embassy Residence and other telephone bills which are in the name of Embassy.
The CLC on the basis of the recommendation received from various sources, submitted its report to the Government to make amendments under the Companies Act, 2013. On March 16, 2016 the Bill to further amend the Companies Act, 2013 has been introduced in Lok Sabha. The key highlights of the Bill peraining to the Definitions under the Companies Act, 2013 are as follows:
Clause 49 of The Real Estate (Regulation and Development) Bill, 2016 provides that the applicant or appellant under the bill may either appear in person or authorise one or more chartered accountants or company secretaries or cost accountants or legal practitioners or any of its officers to present his or its case before the Appellate Tribunal. […]
Clause wise Note on The Real Estate (Regulation And Development) Bill, 2016’ As Passed By Rajya sabha on 10.03.2016. Clause 1.—This clause relates to the short title, extent and commencement of the proposed legislation. Clause 2.—This clause contains the definitions of various expressions used in the proposed legislation. Clause 3.—This clause relates to the prior […]
The Central Bureau of Investigation has today arrested a Chartered Accountant of Udaipur and a businessman / real estate developer of Jaipur, both private persons in an on-going investigation of a case relating to an alleged loss of Rs. 1000 Crore (approx) to Syndicate Bank.
It is clear that the AO did not apply his mind independently and went by the order of the CIT. It is a settled law that a quasi-judicial authority cannot afford to act on the direction and in the present case on the direction of a superior officer.
Section 150(2) enacts the situation where the provisions for assessment pursuant to appeal u/s 150(1) will not be applicable. Provisions of section 150(1) shall not apply where the reassessment proceedings would have been barred by time even at the time when the order, which was the subject-matter of appeal, revision, etc., was passed.
The assessee is engaged in the business of trading in shares. dividend income was earned by the assessee on the shares held as stock-in-trade. Assessing Officer made disallowance u/s. 14A r.w. Rule 8D of the Income Tax Rules, on the tax free income earned by the assessee.
