Whether, omission if assessing officer to explicitly mention that penalty proceedings are being initiated for furnishing of inaccurate particulars or that for concealment of income makes the penalty order liable for cancellation even when it has been proved beyond reasonable doubt that the assessee had concealed income in the facts and circumstances of the case?
In this article let us analyse and understand the condition when the agreement is treated as void agreement as stipulated under the provisions of Sections 24 to 30 of the Indian Contract Act, 1872.
Technical Facilitation Centre called Technical Suvidha Centres under the monitoring of respective Ancilliary NOCs (ANOC) have also been set up.
As per Rule 114E of the Income Tax Rules 1962, for and from 2016-17, all companies have to be furnish SFT in respect of certain specified transactions as tabulated below:
Article Analyses changes bought in the definitions of ‘Adjudicating Authority’ and ‘Agent’ under revised Model GST law
The evidence of import in lieu of BoE in permitted/approved conditions will be created and uploaded by AD Category – I bank of the importer in the form of BoE data
Grace period of 5 days is allowed for the employers to deposit EPF contribution and other dues for the month of December, 2016 by 20th January, 2017.
The Constitution Amendment Bill on Goods and Services Tax (GST) has received Presidential assent post its passage in both the houses of Parliament and ratification by over one-half of the State Legislatures. The GST Council, headed by the Union Finance Minister with all the State Finance Ministers as members, is in the process of finalizing
In this article, an attempt has been made to cover several areas of professional opportunities for members in indirect tax practice. It will be of interest to note that while this publication is being released when goods and services are subject to several stages of indirect taxation
The word Levy in the common parlance means charge or imposition or collection of tax by authority. For the purpose of collecting tax, the authority should have powers to levy such tax. The Constitution of India in Article 265 sets out that no tax shall be collected without authority of law.1
