On the facts and circumstances of the case, the learned Director of Income Tax (Exemption)has erred both on facts and in law in rejecting the application of the assessee for registration under Section 12A of the Income Tax Act, 1961.
Exposure Draft issued by IASB on Improvements to IFRS 8 Operating Segments (Proposed amendments to IFRS 8 and IAS 34) is for comments only. Comments on the Exposure Draft need to be received by May 26, 2017.
ICAI withdraws Frequently Asked Questions on the Revised Schedule VI to the Companies Act, 1956 as issued by the Corporate Laws & Corporate Governance Committee in May, 2012.
Constitution amended to provide concurrent powers to both Centre & States to levy GST (Centre to tax sale of goods and States to tax provision of services)
We note that it is an undisputed position before us that for the subject assessment year, the appellant assessee had not claimed benefit of Section 80IA of the Act in respect of its Jetty / Port either before the Assessing Officer or before the CIT(A).
CBDT cannot arrogate to itself, on the strength of Section 279 of the Act or the Explanation thereunder, the power to insist on a ‘pre-deposit’ of sorts of the compounding fee even without considering the application for compounding.
Uncontrovertedly, necessary details/reply to the questionnaire were filed/produced by the assessee and the same were examined by the Assessing Officer, therefore, it is not a case of lack of enquiry by the Assessing Officer
EPFO has introduced the ECR 2.0 for online collection of remittances through multi-banking. After introduction of the Unified Portal system for remittance of contributions, real time monitoring of the remittance position of the establishments has become a reality.
CBDT has developed a Swachhta Action Plan for 2017-18 and 2018-19 which has been communicated to you. The action points , timelines and the nodal monitoring and supervising authorities have been delineated in the Swachhta Action Plan.
The assessment proceedings u/s 143(2) of the Act are not meant for the benefit of the assessee but are for the benefit of Revenue only so that the AO is able to ensure that the assessee has not understated the income or has not computed excessive loss or has not under paid the tax in any manner.
