This article is a short description about the taxability of the services provided by Industrial canteens maintained in a factory under the Factories Act,1948. It is to be analysed on the basis of :- 1. the Mega Exemption Notification No.25/2012 – ST dated 20.06.2012 and 2. the Amended Notification No. 14/2013-ST dated 22/10/2013. Under the […]
W.e.f. 01.09.2014, a time limit of six months from the date of the document was introduced to avail CENVAT credit on inputs and input services. This restriction was introduced by inserting 3rd proviso to Rule 4(1) of CCR-2004 vide Notification No. 21/2014 CE NT Dt. 11.07.2014. This time limit of six months has been enhanced to one year with effect from 01.03.2015, vide Notification 6/2015 CE NT Dt. 01.03.2015.
The claim of depreciation made by the assessee in the return of income included depreciation of wind mill @ 80% and additional depreciation @ 20% as per Section 32(1)(iia) of the Income Tax Act, 1961. The assessee’s claim of additional depreciation was disallowed by the Assessing Officer on the ground that additional depreciation
Admittedly, the assessee had made payments to M/s Pickme Feeds in cash by directly depositing cash in the bank account of M/s Pickme Feeds for supply of poultry feeds to the assessee. The assessee in turn supplies the poultry feeds to various farmers in the rural areas.
DCIT V/s. M/s AT & S India Pvt Ltd.(ITAT Kolkata) Reimbursement of Information technology costs does not result in income in the hands of the recipient an hence, the payments are allowable deductions and not fall within the mischief of section 40(a)(i) read with section 195.
Global Realty Heritage Venture (Cochin) (P.) Ltd., vs Addl. CIT (ITAT Delhi) In the absence of any such evidence the plea of bonafide belief in the peculiar circumstances cannot be discarded. It is seen that the assessee has consistently canvassed that there was a bonafide belief that the amount taken
Ms. Meenakshi Aggarwal vs. ITO (ITAT Delhi) ITAT held that the non-issue of notice u/s. 143(2) after filing of the return of the Assessee, by way of letter, makes the assessment order passed u/s. 143(3) r.w.s. 147 bad in law.
M/s. A. T. Kearney India Pvt. Ltd. Vs. ITO (ITAT Delhi) Profits and gains u/s 10A were not to be included in the income of the assessee at all and as such the question of setting off of loss of assessee of any profits
MVL Industries Ltd. vs. D.C.I.T. (ITAT Delhi)- Provisions of section 14A are to prevent claims of deduction of expenditure in relation to income which does not form part of the total income of the assessee; that these provisions are enacted to ensure that only expenses incurred
Anything that impairs the success of an effort by a person is called as ‘a Handicap.’ In other words, it’s a condition that affects the performance of a person. The handicap might be of mental or physical nature or both. Many people think that having some problem in the body is the disability. The handicapped mind is the biggest defect one should worry, and not the physical disabilities like blindness, dumb, deaf, etc.
