Once assets have been put to use, claim of depreciation allowance on said assets cannot be restricted. ITAT allows claim of depreciation in respect of closed units or non-functional undertakings
It is very unfortunate that the noble forum of PIL is now being used for blackmailing the citizens. This is not a PIL at all. It is, in fact, a litigation based upon certain photographs resulting in blackmailing type of litigation.
Section 271AAA seeks to impose penalty where undisclosed income is detected during the course of search initiated under Section 132 of the Act on or after 01.06.2007 which condition has been fulfilled
Interest on late payment of TDS u/s. 201(1A) is interest on income tax & such interest cannot be claimed as a deduction.
SC held that practice of engaging workman by separate but consecutive appointment orders of short duration with a view to opposing workman’s claim is not recognised by clause (bb) of Section 2(oo) of Industrial Disputes Act 1947
If owner thinks that driver is competent to drive vehicle Its not expected from him to verify genuineness of driving license issued to driver
There was no need for filing this appeal due to subsequent ITAT order & Income Tax department expresses regret for filing infructuous appeal
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ITAT held that no disallowance of expenses can be made in respect of exempt income by invoking the provisions of s. 14A of the Act r/w Rule 8D of the Rules while computing book profit u/s. 115JB of the Act.
Securities and Exchange Board of India Circular No. SEBI/HO/MIRSD/DoP/P/CIR/2022/109 | Dated: August 18, 2022 To, All Depositories All recognized Stock Exchanges and Clearing Corporations Madam / Sir, Sub: Block Mechanism in demat account of clients undertaking sale transactions 1. SEBI, vide circular no. CIR/HO/MIRSD/DOP/P/CIR/2021/595 dated July 16, 2021, introduced block mechanism in the demat account of clients […]
