The plaintiffs are permitted to serve the defendant No. 9 Ashok Kumar Agarwal by text message as well as through Whatsapp as well as by email and to file affidavit of service.
6. The ld. CIT(A) on consideration of the assessment order, assessee’s submissions and the case laws relied upon by the assessee, has held as under: The only dispute in the instant case is whether the interest paid by the assessee to the bank on loan availed for purchase of property could be allowed as deduction in computing the capital gains income.
A discretion has been conferred on the ITO U/s 69 of the Act to treat the source of investment as income of the assessee if the explanation offered by the assessee is not found satisfactory. However, the said discretion should be exercised keeping in view the facts and circumstances of a particular case. when it is claimed that the assessee could not possibly have any source of income, the addition on his hand is not justified within the parameters of the Income Tax Act.
Chances are high that you might have already bought term and health insurance policies and now you are happy that you have properly protected yourself. But before you put your insurance planning on a back seat, it is necessary to find out the gap in your insurance portfolio.
Composition Scheme is a distinct feature of Indirect Tax laws that in order to provide a comfort to assessee from complying with the requirement of paying tax on value addition by maintaining detail of ‘inputs’ and ‘outputs’, a option is provided to go for a put together scheme
Central Government hereby authorises the Reserve Bank of India to issue such directions to any banking company or banking companies which may be considered necessary to initiate insolvency resolution process in respect of a default, under the provisions of the Insolvency and Bankruptcy Code, 2016.
Over the last three years, entrepreneurship has captured India’s imagination, and for good reasons. Never in our history has it been possible for first-generation entrepreneurs to start companies, raise seed capital and build a business in the way we have seen in recent times.
A few weeks ago, Akash Jain, a young entrepreneur from Bengaluru, tweeted the Swachh Bharat logo printed on his sister’s wedding card and became the toast of mainstream media.
Please refer to the circular DBOD.BP.BC.No.97/21.04.132/2013-14 dated February 26, 2014 on “Framework for Revitalising Distressed Assets in the Economy – Guidelines on Joint Lenders’ Forum (JLF) and Corrective Action Plan (CAP)” and subsequent circulars/amendments in this regard.
Another reason given by the High Court was that no application was made within 180 days of application of the notification dated 27.02.1992 or even from the dateof installation of generating sets i.e.August 1995. Even if the second reason given by the High Court is ignored, nonfulfillment of condition no.(a) of notification dated 27.02.1992 clearly entailed rejection of claim under notification dated 27.02.1992.There is no foundation or basis laid down even in this appeal to assail the finding recorded by the High Court that generating set was not purchased from 01.01.1991 to 31.12.1992.
