Assessee is a partnership firm stated to be engaged in the business of manufacturing and selling of tobacco products. Assessee electronically filed its return of income for assessment year 2007-08 on 31-10-2007 declaring total income of Rs. 15,20,628.
Pradhan Mantri Sahaj Bijli Har Ghar Yojana –Saubhagya a new scheme was launched by the Prime Minister Shri Narendra Modi to ensure electrification of all willing households in the country in rural as well as urban areas on 25th September, 2017. The following Frequently Asked Questions (FAQs) give a detailed view of objectives, features, expected outcomes and implementation strategy of the Scheme.
The said interest income had been earned by the assessee out of business compulsions of deposits in the ‘Debit Service Reserve Account’, hence the said interest income is linked to the business activities of the assessee. The issue is covered with the decisions of the Tribunal in the own case of the assessee for earlier assessment years. Hence, the interest income of the assessee is ordered to be assessed as Business Income.
The purpose of initiating proceedings under Section 153C of the Act, the seized documents had to be shown to belong to the other person and not merely pertaining to such other person. The change brought about in this regard in Section 153 C of the Act by way of amendment has been given prospective effect from 1st June 2015.
The valuation of imported and export goods is governed by the provisions of Section 14 of the Customs Act, 1962 and the rules made thereunder. The Customs Valuation (Determination of Value of Imported Goods) Rules, 2007 (CVR) contain the detailed provisions for arriving at the transaction value of the imported goods, on which the customs duty is levied.
Supply of satellite launch services supplied by ANTRIX Corporation Limited to international customers would be outside India in terms of section 13(9) of IGST Act, 2017 and such supply which meets the requirements of section 2(6) of IGST Act, thus constitutes export of service and shall be zero rated in
Facts of the case, in brief, are that the assessee is a partnership firm engaged in the business of manufacturing and export of plain and studded Gold and Silver jewellery. It filed its return of income on 29.09.2010 declaring taxable income of Rs.2,83,03,490/-. During the course of assessment proceedings, the Assessing Officer observed that the assessee has debited expenses under the head Foreign Agency Commission amounting to Rs.62,12,609/-.
The appellant, Income Tax Officer, Ward 2(4), New Delhi (hereinafter referred to as the Revenue) by filing the present appeal sought to set aside the impugned order dated 30-6-2014, passed by the Commissioner (Appeals)-V, New Delhi under section 143(3) of the Income Tax Act, 1961 (for short ‘the Act’) qua the assessment year 2010-11 on the ground that
S.O. 3129(E).-In exercise of the powers conferred by clause (39) of the section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies the following as the international sporting event, persons and specified income for the purpose of the said clause namely
Create and upload the Outward Supplies details in the GSTR 1 using the Returns Offline tool. 1. Before using the GSTR1 excel template for filling outward supply details, delete all sample data from all worksheets. 2. Before importing the excel file in the offline tool for a particular tax period, it is advisable that the user should delete any existing data of that tax period by clicking “Delete All Data” tab in the Offline Tool.
