CAG Report No. 2 of 2016 – Compliance Audit on Indirect Taxes-Central Excise Union Government Department of Revenue This Report for the year ended March 2015 has been prepared for submission to the President of India under Article 151 of the Constitution of India. The Report contains significant results of the compliance audit of the […]
Comptroller and Auditor General of India has released Report No. 5 of 2016 – Compliance Audit on Customs Department of Revenue Union Government. This Report for the year ended March 2015 has been prepared for submission to the President of India under the Article 151 of the Constitution of India. The Report contains significant results […]
Comptroller and Auditor General of India has released Report No. 3 of 2016 (Direct Taxes). This Report for the year ended March 2015 has been prepared for submission to the President under Article 151 of the Constitution of India. The Report contains significant results of the compliance audit of the Department of Revenue-Direct Taxes of […]
CAG has releases it Report No. 1 of 2016 (Indirect Taxes – Service Tax) for the Financial Year 2014-15 on compliance audit of the Central Board of Excise and Customs under Department of Revenue – Indirect Taxes (Service Tax) of the Union Government. The Service Tax collection was Rs 1, 67,969 crore during financial year 2014-15 […]
SEBI Discussion Paper on Brightline Tests for Acquisition of Control under SEBI Takeover Regulations – Issued on 14/03/2016
It is notified for general information that in view of the General Election to the Legislative Assemblies of Kerala, Tamil Nadu and Puducherry, Group – II, Paper – 8, Indirect Tax Laws of Final Examination scheduled to be held on 16th May, 2016 at Alappuzha, Ernakulam, Kannur, Kollam, Kottyam, Kozhikode, Malappuram, Palakkad
Question of reassessment arises only when there is an assessment in the first instance i.e. no reassessment is possible without original assessment order passed. The High Court has wrongly not acted upon the ratio laid down in Trustees of H.E.H.
ITAT Lucknow held in the case of M/s Juhi Alloys Pvt. Ltd. vs. CIT that since enquiry was made by the Assessing Officer on all the points on which objection had been raised by CIT in the notice issued by him u/s 263, this is not a case of lack of enquiry by the Assessing Officer or lack of application of mind by the Assessing Officer because on all the issues, query was raised by the Assessing Officer and replies were submitted by the assessee
On account of some unavoidable reasons of the death in the family of the counsel of the appellant, the concerned counsel was unable to represent the appellant on the relevant date. The fact that there was a death in the family of the counsel of the appellant is not disputed by the learned Counsel appearing for the respondent.
It was held that Currency Conversion Charges (mark up) in respect of credit/debit card transactions are not liable to service tax as the card transaction happened outside India.