It is only vide the Finance Act, 2002 which came into effect from 1st April, 2003 the said capital receipt was now taxable under section 28(va). It is clarified by the Supreme Court that section 28(va) of the Act was amendatory and not clarificatory
Section 43B does not contemplate liability to pay the service tax before actual receipt of the funds in the account of the assesee. Liability to pay service tax into the treasury will arise only upon the assessee receiving the funds and not otherwise.
In an appeal no.523/2013, the assessee was engaged in the operation of a Container Freight Station (CFS). It filed a return of income on 08.10.2008 declaring total income at Rs. Nil after claiming deduction of Rs.210713675/- u/s 80IA(4) of the Income Tax Act,1961
In these cases there are 18 different assessees who filed appeal before ITAT aggrieved from the order u/s 263 passed by CITs. In original proceedings AO passed orders with nominal additions after investigation by way of summoning various subscribers to share capital of assessee companies.
(ga) the issuer or promoter or promoter group or director of the issuer hasnot settled any alleged violation of securities laws through the consent or settlement mechanism with the Board during three years immediately preceding the reference date
In the case of Brahamanand Agarwal, Thekhedar Vs. DCIT Jaipur Bench of ITAT have held that when net profit is estimated by AO by rejecting the book result U/s 145(3) of the Act, no separate addition can be made on account of cash creditor.
ITAT Jaipur held In the case of M/s. Gillette India Ltd. vs. ACIT that the services availed are intra-group services in the nature of Accounting and Financial Reporting Services, Employee services etc. . These are routinely outsourced by no. of companies in India and other countries because of their economic
If there’s one thing that people would willingly give- for FREE, that’ll be their opinions or advise. Now, the interesting question which must cross our minds is that, Do these people really follow what they preach? it is very easy to give advise, but to follow the same, not a cake walk.
From the raising of the indent request from the particular department till its fulfillment by the personnel department, there are many Risk factor involved which need to be paid concern and are therefore mitigated. Process– In IT companies, it all begins from the place of creation of requisition for an indent then it get processed […]
car owners are ignorant of safe driving behaviour during the monsoon as well as applicability of insurance cover in case of damage to engine due to water ingression. Our endeavor through this survey is to address these gaps so that motor insurance customers are well informed and exhibit the right behavior when driving in the monsoon season.
