Disaster recovery (DR) may be seen as the process, policies and procedures related to preparing for recovery or continuation of technology infrastructure critical to a business organization after a natural or human-induced disaster occurs. Disaster recovery may be seen as a subset of business continuity.
Brief facts of the case are that the assessee is a director in M/s. Veen Promoters Pvt. Ltd. There was a survey u/s. 133A of the Act on 14.7.2009 in the case of M/s. Veen Promoters Pvt. Ltd. The assessee filed return of income for the A.Y. 2008-09 on 31.7.2009 declaring total income
It has come to institute’s notice that some students who had purchased old registration form earlier are coming to institute’s HQ/Regional Council/Chapter to deposit the same now. Please note that as a special case, in the larger interest of student community, such students are allowed to submit the Old Registration forms up to 22nd February, 2013.
Expenditure incurred by the assessee is not creating any enduring benefit of an asset but is rather helping the assessee in augmenting its sales and resultantly its profit. Even if it is presumed that the building of brand image of Nirvana is giving advantage of enduring benefit to the assessee, still it would be on revenue account as there is no creation of a tangible or intangible asset of enduring nature to the assessee.
It is not in dispute that the aforesaid two amounts have been deposited by the two partners in their capital account. The partners are income tax payee. They have explained the source as having received gift from various persons, who have also filed their Income Tax Returns and have been assessed accordingly. Merely because, the donors are weavers and they own only one loom would not make any difference. They have filed their Income Tax Returns and have also filed the return under the Gift Tax Act. They have paid the gift tax also. Assessment under the Gift Tax Act has also been made, though the assessments made were summary in nature. In the case of Anil Rice Mills (supra), this Court has held that the assessee can not be asked to prove the source of source or the origin of origin.
The decision in J.K. Kashyap v. Asstt. CIT [2008] 302 ITR 255 is an authority for the proposition that even when an assessee becomes entitled to an undefined and undivided share in a property, through an agreement, which he later relinquishes, the gain has to be assessed as income from capital gain, and not as income from other sources.
Sanjay Kumar Provisional assessment. RULE 7 (1) Where the assessee is unable to determine the value of excisable goods or the rate of duty applicable thereto, he may request the AC/DC of Central Excise in writing giving reasons for payment of duty on provisional basis. AC/DC may order allowing payment of duty on provisional basis […]
In addition to the regular cricket matches, the assessee is conducting commercially oriented matches like Indian Premier League (IPL). Players of IPL teams are selected by sponsors to play under their brand names. Players are selected through auctions. Players choose that sponsor which offers the highest amount of money. IPL Matches are played with hype and celebration so as to create more and more revenue out of sale of telecast rights. All these activities when read together, one has to come to a finding that the entire activities of the Association is poised towards generating huge amount of income through the game of cricket.
A judgment is an authority for what it decides. It applies only to those cases in which the requisite amount of tax has been deducted at source out of payments made to the payee and thereafter deposited on or before the due date stipulated by law.
In the absence of any material, and as the Court does not find any legal or valid ground to withhold sanction to the proposed Scheme, the same is hereby sanctioned. The prayers made in terms of Paragraph 22(a) of Company Petition No.142 of 2012 and in terms of Paragraph 15(a) of Company Petitions No.143 and 144 of 2012, are hereby granted.
