Supreme Court held In the case of M/s Ganapathy & Co. vs. CIT that in the current case, each relevant fact considered by the High Court to answer the questions referred to it on the claim(s) of deduction raised by the assessee are acknowledged, admitted and undisputed facts.
Delhi High Court held In the case of YUM Restaurants (India) Pvt. Ltd. vs. ITO that both entities i.e Yum Asia and Yum Singapore which hold the shares of assessee, Yum India, for pre and post restructuring period respectively, were distinct entities.
Circular No. 2/2016-Customs Kind reference is invited to Boards Circular No. 13/2007- Customs dated 2nd March, 2007 on the subject cited above. Board has already issued instructions reiterating the provisions for import of Livestock/Livestock products to ensure that clearance of Livestock/Livestock products is done after proper quarantine check and issue of no objection certificate by Animal Quarantine Officer.
Delhi High Court held In the case of CIT vs. Dharampal Satyapal that as per section 50B, the value of the net worth must be computed by decreasing from the actual cost of asset falling within the block, the depreciation actually allowed in respect of previous years relevant to the assessment year commencing before 1st day of April, 1988
Prime Minister Narendra Modi had announced the ‘Startup India, Standup India’ initiative on Independence Day the 15th Day of August, 2015. Startup India is a flagship initiative of the Government of India, intended to build a strong eco-system for nurturing innovation and Startups in the country that will drive sustainable economic growth and generate large scale employment opportunities.
Ankita Agrawal Income Tax Act, 1961 is quite clear on the tax implications in the hand of purchaser and seller in case of amalgamation or demerger, but when it is a division purchase or slump purchase, there are no specific provisions in the Act in relation to purchaser. Section 50B of the Act clearly specifies […]
Enclosed is the list of minimum periodic compliances to be done by a Listed Entity pursuant to the provisions of the Companies Act and SEBI Regulations.
The result of the Chartered Accountants Intermediate (Integrated Professional Competence) Examination held in November, 2015 is likely to be declared on Monday, the 1st February, 2016 around 4.00 P.M. and the same as well as the merit list (candidates securing a minimum of 55% and above marks and upto the maximum of 50th Rank on all India basis will be available on the following website:
Karnataka High Court held In the case of M/s. Safina Hotels Private Limited vs. CIT & DCIT that it is clear that the notice is issued proposing to levy penalty under Section 271(1) (b) whereas the order is passed by the Assessing Officer under Section 271(1) (c), which clearly indicates that there was no application of mind by the Assessing Officer while issuing the notice under Section 274.
In the case of Commissioner Of Central Excise, Delhi Vs M/S Bajaj Motors, it was held that the outdoor catering service provided has not been used for the personal use or consumption of the employee and the said service has been provided by the employer to its employees for preserving proper working atmosphere in the factory for enhancing the productivity.
