Ld. AR submits that appellant was not registered as service tax payer and as such no authorised representative stands mentioned by him. As the impugned order was served at the residential address of the appellant, it has to be considered as proper service of the order.
The assessee claims deduction for expenses incurred to earn amounts which are exempted from tax. The case involves the interpretation of Section 14A of the Income Tax Act, 1961 . The Kolkata High Court has said that no substantial question of law arises in this case. There is no judgment of the Kolkata High Court on the interpretation of Section 14A of the Act. Section 14A has been introduced in the Act to say that expenses incurred to earn the amount, which is exempted from tax, would not be entitled to a deduction. This point has not been considered in the impugned judgment of the Kolkata High Court.
So far the question of benefit under s. 10B of the Act is concerned, the learned counsel for the appellant-assessee has submitted that the view as taken by the Tribunal cannot be sustained for the authoritative pronouncement of the Hon’ble Supreme Court in the case of ITO v. Arihant Tiles & Marbles (P.) Ltd. [2010] 186 Taxman 439 (SC) holding, inter alia, that step-wise activity of cutting marble blocks and converting into the polished slabs and tiles constituted manufacture or production in terms of s. 80-IA of the Act while distinguishing the decision in Aman Marble’s case (supra), and while observing, inter alia, held as under:
The SC has extended the deadline for builders to pay VAT from August 31 to October 31. If they do so, they are not entitled to pay penalty and 15% interest on delayed payment of VAT, according to the SC interim order. The builders must register with the sales tax department by October 15 before paying VAT. The VAT money will be collected and kept in a separate account of the state government. If the state loses the case, the developers will get back their money along with interest. The date for the final SC ruling is not known as yet.
Presently, the import policy for Binoculars (HS Code: 9005.10.00) is free. Night Vision Binoculars/ Passive Night Vision Devices (PNVs) are classified under the same HS Code: 9005.10.00. But these items will be ‘restricted’ for import. So the amended entry HS Code: 9005.10.00 will read as follows
ORDER No. 8/FT&TR/2012 In partial modification of order No. 6/FT&TR/2012, and in exercise of powers conferred under section 144C of the Income-tax Act, 1961, the Board hereby constitutes the Dispute Resolution Panel (DRP) at the area of jurisdiction given under column (2) of the Table below comprising of three Commissioners of Income-tax as Members of the Panel
Order [f.no. 500/15/2011-ft&tr-i], dated 28-8-2012 Section 144C of the Income-tax Act, 1961 – Dispute Resolution Panel – Reference to – corrigendum to Order No. 6/FT&TR/2012, dated 10-7-2012 and Order No. 7/FT&TR/2012, dated 31-7-2012 constituting DRPs and alternate DRP at various places
with a view to facilitate listed entities to comply with the minimum public shareholding requirements within the time specified in Securities Contracts (Regulation) Rules, 1957 (SCRR, 1957), the following additional methods shall be available:-
The ‘Quick Referencer’ contains the relevant information about cooperatives & NPO sectors in brief such as important acts, accounting standards, auditing standards, important provisions of direct and indirect taxes, registration under different acts, various forms, and other important information about these sectors.
Borrowing and lending of Indian Rupees between two persons resident in India does not attract the provisions of the Foreign Exchange Management Act, 1999. In case where a Rupee loan is granted against the guarantee provided by a person resident outside India, there is no transaction involving foreign exchange until the guarantee is invoked and the non-resident guarantor is required to meet the liability under the guarantee.
