ITC Limited Vs DCIT (ITAT Kolkata)– We have carefully considered the submissions of the ld. representatives of the parties and the orders of the authorities below. We have also gone through the details of the expenditure aggregating Rs. 9,00,111 claimed by the assessee, the break-up of which has already been mentioned herein above. We observe […]
Invitro International Pvt Ltd Vs DCIT (ITAT Bangalore)- Plant tissue culture is used to reproduce clones of a plant to get multiple plants with the same traits by placing various tissues of the mother plant in containers and required medium, which is definitely not consisting of land or soil.
Ministry of Corporate Affairs desires that the members of the institute may file Company’s Balance Sheet and Annual Return at the earliest preferably before festival time of Diwali to avoid last minute rush and system congestion in MCA21.
Updated version of MCA XBRL validation tool (Version 1.1) has been released on 14th October 2011.The list of enhancements to the validation tool has also been provided.
India’s inflation rate continued to remain close to worrisome double-digit levels bolstering speculation that the Reserve Bank of India (RBI), despite a slowing economy, may increase interest rates yet again to cool prices when it presents the quarterly policy review later this month. So, expect your EMIs on loans to go up all over again.
Prime Minister Manmohan Singh has called a meeting on Saturday to discuss policy options with regard to slowing economic growth and high inflation. The meeting (with PM) is on the current economic situation. We will have a discussion on growth and inflation, and consider the policy options in this regard, Prime Minister’s Economic Advisory Council (PMEAC) chairman C Rangarajan said.
Focus Product Scheme – The list of items under FPS has been expanded to include 130 additional items. These items are mainly in the sectors of Chemical/ Pharmaceuticals, Textiles, handicrafts, Engineering and electronics sector. Textile items like polyester textured yarn, fully drawn yarn of polyester, viscose rayon type yarn, polyester chips, woven cotton fabrics denim 85% cotton over 200G/M2, unbleached or bleached cotton fabrics, dyed cotton fabrics knitted or crocheted have been included under the scheme.
Q.1. How many types of invoices would be required to be issued under VAT? A.1. There are two types of invoices that can be issued: Tax invoice Retail invoice Q.2. What is a tax invoice and who will issue it? A.2. Under VAT, tax invoice is a very important document. A registered dealer selling goods […]
The Supreme Court today ruled in the case of Suraj Lamp & Industries Pvt Ltd Vs State Of Haryana that sale transactions carried in the name of general power of attorney will have no legal sanctity and immovable property can be sold or transferred only through registered deeds. “Transactions of the nature of `GPA sales or `SA/GPA/WILL transfers’ do not convey title and do not amount to transfer nor can they be recognised or valid mode of transfer of immovable property.
Hindustan Platinum Pvt. Ltd. Vs ACIT (ITAT Mumbai)- Statement given u/s 131 cannot be the only basis for disallowing the claim of depreciation when it is shown with documentary evidence that the admission made in the statement recorded was under a mistake or misapprehension. Assessee is not entitled to claim loss u/s 28 on account bad debt of the advance given as inter corporate deposit without establishing the fact that it was a trade advance
