erely stating that the tax effect was low in an earlier order resulting in not filing of an appeal across the bar, without the same being specifically put in affidavit or in the appeal memo cannot be accepted. This manner of filing of appeals enables the revenue to pick and choose orders from which appeals are preferred and from which the appeals are not preferred rendering to a naught equal application of law on all.
Is a query is raised during assessment proceedings and responded to by the Assessee, the mere fact that it is not dealt with in the Assessment Order would not lead to a conclusion that no mind had been applied to it. Section 263
Merely because a notice u/s 143(2) had already been issued and the assessee filed revised return thereafter, disclosing additional income towards capital gains, which was not correctly shown in the original return, does not tantamount to detection of concealment of income u/s. 271(1)(c) of the Act .
Entire sales which are unaccounted cannot be undisclosed income of the assessee, particularly as the purchase had been accounted for. It was held that only net profit which would arise on such unaccounted sales can rightly be taken as the amount which could be added to the Respondent Assessee’s income for the purpose of tax.
With a view to make initiative of ‘Make in India’ successful and to uplift the ranking of India from 142 position in ease of doing business Government of India has recently launched the E-Biz Project. It’s a single window platform through which all clearances and approvals related to setting up business in India can be […]
Whereas in the matter of ‘Graphite Electrodes of all diameters’ (hereinafter referred to as the subject goods) falling under heading 8545 of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975), originating in, or exported from the People’s
In exercise of the powers conferred by sub-section (2) of section 14 of the Customs Act, 1962 (52 of 1962), the Central Board of Excise & Customs, being satisfied that it is necessary and expedient so to do, hereby makes the following amendment in the
The learned counsel for the assessee contends that the concerned Chartered Accountant has admitted that the impugned orders of CIT(A) were handed over to him by the assessee in the first week of April, 2011 for filing the appeals before ITAT.
The Institute of Chartered Accountants of India (ICAI) considers it a privilege to submit the Pre-Budget Memorandum, 2015 on Indirect Taxes to the Government of India. The Memorandum contains suggestions on issues relating to Service Tax, CENVAT Credit Rules, 2004, Excise Duty, Customs Duty and Central Sales Tax for the consideration of the Government while […]
Of late, it has been observed that a number of notices given by the officers in Grade ‘A’ for seeking voluntary retirement/resignation from the service are sent to the Board at the fag end of the expiry of the prescribed notice period of three months and that too without providing the requisite documents
