As the name indicates Benami property means a property without a name. In such kind of a transaction, the person who pays for the property does not buy it under his/her own name and motive behind such a transactions of this nature is to evade payment of tax.
The issue under consideration is whether the advance received towards sale of property falls within the meaning of commercial and business purpose and can be treated as deemed dividend without considering the true nature of the transaction?
Milk crumb was marketable and hence assessee-cadbury was liable to pay excise duty for clearing goods without payment of duty as revenue neutrality could never be ground for not demanding the duty on the excisable goods in the form and manner they were being cleared by assessee.
A provision of Section 285BA has been inserted by the Finance Act, 2003 w.e.f. 01.04.2004, which was later on substituted by the Finance (No.2) Act, 2004 w.e.f. 01.04.2005.
Whether nearby cities which are in 25 km from municipality are to be considered at par with metro cities for FY 2016-17? Solution: – Yes, because same conditions are there for nearby cities which are within 25km from municipal limits of metro cities. And From FY 2017-18, nearby cities will be considered as non metro cities even though they will be within 25 km from municipal limits of metro cities.
Following the principle of justice and equity, the defaulting company “Unitech” was liable to repay the amount to its deposit holders principal along with the future interest @12.5% per annum from the date of maturity of the respective FDR till receipt thereof alongwith Rs.50000/- each to assessees towards cost of litigation, costs etc
If you are a Salaried Employee then you must know about the HRA. The Term HRA stands for House Rent Allowance. Generally every employee receives a HRA from their employers as part of his salary package, in accordance with terms and conditions of employment.
The Financial Action Task Force on February 21, 2020, has placed Mauritius in the list of ‘jurisdictions under increased monitoring’, commonly referred to as the ‘grey list’.
The Direct Tax Vivad se Vishwas Bill, 2020 (‘the Bill’) was introduced in the Parliament on 5th Feb, 2020. After introduction of the Bill, a notice for moving the following amendments to the provisions of the Bill has been given to the Parliament on 14th Feb, 2020, which is subject to the approval of and […]
Neeraj Jain Vs Cloudwalker Streaming Technologies Pvt. Ltd. (NCLAT) we have found that demand notice delivered under Section 8(1) of the Code was not proper and was also incomplete. The Operational Creditor failed to submit any documents to prove in existence of the Operational debt and the amount in The Operational Creditor also failed to […]
