The power of the assessing Officer under Section 147 of the Act is not in dispute. A challenge made to an order passed on the objections of the assessee would in effect is a challenge made to a notice under Section 148 of the Act. Such an order passed by the assessing officer is only at the stage of process of determination and not a determination by itself. The process of assessment is not required to be challenged before Court of law, as it is a still born child.
Securities and Exchange Board of India Press Release No. 70/2014 Jul 21, 2014 The fourth meeting of the International Advisory Board (IAB) of the Securities and Exchange Board of India (SEBI) was held on July 18 & 19, 2014. Major issues discussed during the meeting were: i) Corporate Governance Norms in India In the context […]
After considering the rival submissions and perusing the relevant material on record, it is noticed that though the assessee did not extend co-operation to the AO during the assessment proceedings, but such deficiency was made good by submitting the relevant evidence before the ld.
Revenue Targets Fixed for Direct Taxes for the Current Financial Year 2014-15 would not only be Achieved but would be Surpassed:FM The Union Finance Minister Shri Arun Jaitley hoped that the revenue targets fixed for Direct Taxes for the current Financial Year 2014-15 would not only be achieved but would also be surpassed. The current […]
Admittedly the impugned addition pertaining to the amount received by the assessee from M/s. Newell Rubbermaid Inc. has been upheld by the Tribunal. At the same time we also observed that in assessee’s appeal ITA No. 1235/2011 order vide dated 29.11.2011 (supra) the Hon’ble High Court
RECOGNITION OF SENIORITY OF A CA FIRM ON ITS CONVERSION TO LLP- Policy of O/o C&AG In respect of “Recognition of seniority of a CA Firm on its conversion to LLP”, the O/o C&AG has informed as under: (a) The LLP firms registered with ICAI only will be considered for empanelment. (b)The seniority of such […]
Please be informed that pursuant to the recent cabinet approvals by the Haryana State Government, the State Government has increased the WCT rate from 4% to 5% pursuant to section 24 of Haryana VAT Act, 2003.
The undersigned is directed to say that representations have been received from members of the Institute of Cost Accountants of India after notification of the Companies (Cost Records and Audit) Rules 2014, expressing grievances about the scope of the rules and their implications for the profession of Cost Accountancy.
Entry Tax is levied on the goods which are brought into a local area from outside the Local Area. The basic question which arises is whether entry tax shall be levied on entry of goods into local area from a place outside the local area. In this regards, it is pertinent to note that the […]
Ministry seems determined to make things ‘absolutely clear’ pertaining to related party and transactions entered into with such related parties. In a week’s time, MCA firstly issued Companies (Removal of Difficulties) Fifth Order, 2014 dated 9th July, 2014 amending clause (v) of Section 2(76) of Act, 2013 by replacing ‘or’ with ‘and’.
