Delhi High Court held In the case of Haryana Paneer Bhandar vs. CIT. that the Revenue has been unable to produce the satisfaction note of the AO of the searched person. Consequently, on this short ground of there being no satisfaction note, which is a mandatory requirement under Section 158BD.
Delhi High Court held In the case of The CIT vs. Sunil Aggarwal that the Assessee had an explanation for not retracting the statement earlier. He also furnished an explanation for the cash that found in the hands of his employee and this was verifiable from the books of accounts.
Can you name one ultimate thing which everyone in the whole world wants to have? Yes, it is Happiness…!!! Will you please introspect for the minute and ask yourself the reason why we are working for day and night? To buy a house? To open your own business? To purchase a Car? These things will ultimately lead you to some form of joyous feeling called happiness… But will that feeling last lifetime?
The President of India has promulgated ordinance amending the Arbitration and Conciliation Act, 1996.This ordinance comes into force from 23rd October,2015. It is likely to be approved by the parliament in winter session and becomes part of the Arbitration Act, 1996 on its approval. In this article an attempt is made to analyze the amendments to appreciate the practicality or impracticality of these amendments.
In Union Budget 2015, a provision was made for levying a Swachh Bharat Cess (SB Cess) on all or any of the services, for the purposes of financing and promoting Swachh Bharat; to contribute for a clean India. The funds thus raised shall be used to build and provide proper toilet facility.
Exposure Draft- IFRS Practice Statement Application of Materiality to Financial Statements – Comments to be received by 26 February 2016 Exposure Draft ED/2015/8 IFRS Practice Statement Application of Materiality to Financial Statements is published by the International Accounting Standards Board (IASB) for comment only. The proposals may be modified in the light of the comments […]
Research Committee of the Institute of Chartered Accountants of India invites comments on any aspect of this Exposure Draft of the ‘Guidance Note on Some Important Issues Arising from Schedule II to the Companies Act, 2013’. Comments are most helpful if they indicate the specific paragraph or group of paragraphs to which they relate, contain a clear rationale and, where applicable, provide a suggestion for alternative wording.
To further boost this entire investment environment and to bring in foreign investments in the country, the Government has brought in FDI related Reforms and liberalisation touching upon 15 major Sectors of the Economy. The salient measures are: i. Limited Liability Partnerships, downstream investment and approval conditions. ii. Investment by companies owned and controlled by Non-Resident Indians (NRIs)
In Union Budget 2015, Government had issue Swachh Bharat Cess (SB Cess) @ 2% stating the fact that it will be effective from the date to be notified. Notification No. 21/2015-ST dtd. 06-11-2015, notified 15-11-2015, the date from which SB cess would be effective and notification no. 22/2015-ST dtd -6-11-2015 reduced the rate of SB cess to 0.5%.
ITAT Ahmedabad held In the case of Shell Global Solutions International BV vs. ITO that as clearly stated in the MoU to the Indo US tax treaty, which stands incorporated in the Indo Dutch tax treaty as well by the virtue of MFN clause
