This conduct on part of the petitioner filing the petition interalia seeking early hearing of its appeal before the CIT (A) and at the same time when the appeal is fixed for hearing by the CIT (A), the petitioner is seeking adjournment on frivolous grounds indicating that the petitioner is not serious about attending the hearing. It appears to be time delaying tactics and abuse of the legal process. In fact on 11th July, 2016 the last adjournment sought by the petitioner was to fix the hearing of the appeal in August 2016. The very fact that the petitioner has been seeking adjournment time and again before the CIT (A) and filing the petition in this Court seeking early hearing of its appeal is an abuse of the process of law.
Learned Counsel for the respondent has taken this Court to Section 132(4) of the Act and contended that the statement made during the search is required to be accepted and the retraction was made after a very long time. The reasoning of the Assessing Officer was confirmed by the Tribunal and therefore, no interference is called for by this Court in the facts and circumstances of the case.
Expeditious issue of Refunds is a High Priority for the Central Board of Direct Taxes (CBDT); Over 4.19 crore Income Tax Returns (ITRs) processed and over 1.62 crore refunds issued during the Current Financial Year up to 10th February, 2017.
Earlier only the ISD, person opting for composition scheme and person deducting TDS were kept outside the purview of this section. These persons were not required to file the GSTR-1. In the revised draft, the non-resident taxable person, and the person deducting TCS are also been ousted from the scope of this section.
IRDA in its exposure draft has defined 7 Principles of Stewardship which an insurance company as an institutional investor will be required to adopt. Intention of Stewardship Code is to strengthen role of insurers as stewards on behalf of policyholders.
This Committee was formed in the month of February, 2015 under nomenclature ‘Career Counselling Committee (CCC) with an objective to promote the Commerce Education with special focus on CA course among Secondary, Senior/ Higher Secondary, Graduate/Post Graduate students as well as other stakeholders.
I, H. Rajesh Prasad, Commissioner, Value Added Tax, do hereby extend the last date of filing of online/hard copy of third quarter return for the year 2016-17, in Form DVAT-16 ,DVAT-17 and DVAT-48 along with required annexure/enclosures to 28/02/2017.
The Authority had issued “Guidelines on Appointment of Appointed Actuaries and their Mentors” on 22nd March 2016 to address the supply side gap by supporting young Actuaries with the Mentors. Based on experience and the issues emerged over a period of time, the Authority has proposed to revise the above-mentioned guidelines.
Onus is on the assessee company to bring on record the cogent evidences to prove the identity and creditworthiness of the share subscribers and genuineness of the transaction which in the instant case the assessee is not able to prove the same as per the facts emerging from the records and material before us as […]
Based on the experience gained, since the last amendment effected in the year 2013, the Authority felt that there is a need to amend the IRDA (Appointed Actuary), Regulations, 2000. The basic framework for appointment of Appointed Actuaries and their duties, functions etc. is prescribed in the aforementioned Regulations.
