Circular No. F.1-AD (E-BENCH)/AT/2012 It is directed that appeals and applications fixed before the Income Tax Appellate Tribunal, Nagpur Bench will be heard through Video Conferencing by the Members of the ITAT sitting at ITAT, Mumbai.
Banking regulators control and monitor the financial state of affair of the banks through reporting mechanism. With the formation of European Union, banks operating in European region are expected to report under multi regulatory environment, where such reporting becomes complex and dynamic, requiring banks to submit reports in a timely manner with more granularities, supported by intensive information. Identifying data synergies and taking leverage of that can help such banks in effective and correct compliance.
No doubt, Chartered Accountancy course has enjoyed wide popularity but CMA and CS courses too have been gaining popularity over the last few years. Particularly, growth in numbers of students enrolled for CMA is far more than any other course in India. This is because of cost awareness amongst the business entrepreneurs due to growing competition in the market, and this has resulted in increased demand for CMA.
It can be concluded that registering INTELLECTUAL PROPERTIES will be a strong protection and a value addition to the corporate sector. It is as much an asset as any other property. Always we have to remember as said earlier, IF YOU HAVE A TRADEMARK, REGISTER IT and IF YOU HAVE REGISTERED A TRADEMARK then USE IT.
Gross direct tax collections during April-October of the Financial Year 2012-13 was up by 6.59 percent and stood at Rs. 3,02,810 crore as against Rs. 2,84,081 crore in the same period last year. Net direct tax collections was up by 14.63 percent and stood at Rs.2,50,866 crore, as compared to Rs. 2,18,850 crore in the same period in the last fiscal.
In the present case, however, we find that the second deposit of the same amount on clearance of the same goods did not amount to deposit of excise duty and was a pure mistaken deposit of an amount with the Government which the revenue cannot retain or withhold. Such claim, therefore, would not fall within section 11B of the Act.
If we consider the facts of the case under consideration, we noticed that the A.O. did not reject the books of account regularly maintained by the assessee by invoking section 145(3) of the Act. The assessee raised the ground before the CIT(A) that reference under section 142A to the D.V.O. is without jurisdiction as the A.O. did not reject the books of account.
The investment with the sister-concerns had no nexus to the assessee’s business activities. They were merely invested for the purpose of earning interest. The assessee has not even established that one of its business activities was to advance loans to third parties and/or to invest its funds and that it was a mere coincidence that over the years, all the advances were made to and the investments were made in their sister-concerns.
Objects of the appellant even after the amendment of the trust deed continue to be charitable. The amendment is a mere power conferred on the Trust or other institution. It has to be shown on facts that any amendment to the objects clause has resulted in the trust or institution becoming non charitable in character.
Whether the Appellate Tribunal is right in law in holding that unrealised export turnover should be included in the Total Turnover while it is not treated as Export Turnover for purposes of computing the allowable deduction under Section 80HHC ?
