No new facts or material had come to the knowledge of the Assessing Officer to enable him to initiate re-assessment proceedings. All the material facts on which the Assessing Officer had based his purported reasons were available on record at the time when the original assessment order was passed.
Supreme Court Upholds Applicability of Renewable Purchase Obligation on Captive Power Plants; Order a Positive Development and will Help Renewable Energy Growth in the Country The Supreme Court order dated 13 May 2015 in the case between the Hindustan Zinc vs Rajasthan Electricity Regulatory Commission on the applicability of Renewable Purchase Obligation (RPO) regulations has […]
Brief facts are that the assessee was registered as trust on 01.02.2001.Its application for registration as a charitable trust was granted on 27.12.2001. On 30.06.2002 the assessee received the IILM Undergraduate Business School,from the Ram Krishna and Sons Charitable Trust (RKSCT).
Notification No. 27/2015-Customs (ADD) Dated- 1st June, 2015 Seeks to levy definitive anti-dumping duty on imports of Acrylic Fibre, originating in or exported from Korea RP and Thailand for a period of five years.
Notification No. 26/2015-Customs (ADD) Dated 1st June, 2015 In the matter of continuation of anti-dumping duty on “Poly Vinyl Chloride Paste Resin”, falling under Heading 3904 of the First Schedule to the Customs Tariff Act, originating in, or exported from, the European Union, imposed vide notification of the Government of India, in the Ministry of Finance (Department of Revenue), No. 70/2010-Customs, dated the 25th June, 2010
Notification No. 25/2015-Customs (ADD) Dated- 1st June, 2015 In the matter of continuation of anti-dumping duty on “Poly Vinyl Chloride Paste Resin”, falling under Heading 3904 of the First Schedule to the Customs Tariff Act, originating in, or exported from, Korea RP, Taiwan, People’s Republic of China, Malaysia, Thailand and Russia, imposed vide notification of the Government of India, in the Ministry of Finance (Department of Revenue),No. 66/2011-Customs, dated the 26th July, 2011
The Government is committed to improving ‘ease of doing business’ and move towards paperless processing of applications. Trade is informed that a Beta version of online ANF 5A has now been released and it is now possible to not only apply online for grant of EPCG Authorization but also to upload the required supporting documents using digital signatures of the applicant.
Govt to simplify ITR Forms- New ITR-2A to come- Due Date extended to 31.08.2015 from 31.07.2015- No need for Foreign Travel and Dormant Bank A/c details Income Tax Return Forms ITR 1, 2 and 4S Simplified for Convenience of the Tax Payers; A New Form ITR 2A Proposed which can be Filed by an Individual […]
As per Section 269SS if specified sum (any sum of money receivable, whether as advance or otherwise, in relation to transfer of an immovable property, whether or not the transfer takes place) taken or accepted in cash is Rs. 20,000 or more , penalty equal to amount taken shall be imposed under S. 271D.
Modification in the Syllabi of Accounting Papers and its applicability for the forthcoming Chartered Accountancy Examinations It has been decided that the following modification be made for the forthcoming examinations in context with Final Paper 1 : Financial Reporting and Intermediate (IPC) Paper 5 : Advanced Accounting :‐ Exclusion from the syllabus with effect from […]
