Whether on the facts and in the circumstances of the case, the Hon. Income Tax Appellate Tribunal was justified in restricting the disallowance u/s 14A to Rs.3,50,000/ as against Rs.1,46,78,090/ made by the Assessing Officer u/s 14A r.w. Rule 8D without appreciating the fact that for invoking disallowance u/s 14A, it is not material that the assessee should have earned such exempt income during the financial year under consideration as per CBDT circular No.5/2014 dated 11.02.2014
Capital Goods imported under EPCG Scheme, may be re-exported for repairs abroad within three years from the date of clearance by Customs of such goods, with permission of RA/Customs Authority. The duty component on the expenditure incurred on the repairs as well as the insurance and the freight, both ways shall be taken into account for re-fixation of the EO.
The Central Board of Direct Taxes (CBDT) has entered into 2 Unilateral Advance Pricing Agreements (UAPAs) with Indian Taxpayers during September, 2017. With the signing of these 2 Agreements, the total number of APAs entered into by CBDT till date has reached 177. This includes 164 Unilateral APAs and 13 Bilateral APAs. In the current financial year, a total of 25 APAs (2 Bilateral and 23 Unilateral) have been signed till date.
In this regard, it is stated that as GST is a tax where apart from various Central Taxes, many state taxes also have subsumed, there needs to be strong coordination between State and Central Government, so as to make GST rollout smooth and successful. It is felt that both the Centre and States should take a uniform stand in GST related petitions before the High Court (s) so as to obviate any contradictory orders or judgments.
A change of religion and loss of caste was at one time considered as grounds for forfeiture of property and exclusion of inheritance. However, this has ceased to be the case after the passing of the Caste Disabilities Removal Act, 1850. Section 1 of the Caste Disabilities Removal Act inter alia provides that if any […]
In order to make it possible for great number of tax payer to avail the benefit of ease of compliance under the composition scheme, it is recommended that turnover limit for availing composition scheme shall be raised from INR 75 lakhs to INR 100 lakhs. Threshold for special category states except the State of Jammu & Kashmir and Uttarakhand shall be raised from INR 50 lakhs to INR 75 lakhs.
Admittedly, possession of the property was not handed over during assessment year 2008-09 and mere execution of agreement for the development of the property could not amount to transfer under section 2(47) of the Act row with section 53A of the transfer of property Act are satisfied as such there can no transfer be considered in the year under consideration.
As crime continues to grow, and criminals turn tech-savvy, police investigators across States face a tough challenge to bring the law-breakers to justice.The situation is,however, undergoing a revolutionary change. The Digital Police Portal launched by the Government of India as part of the Crime and Criminal Tracking Network and Systems (CCTNS)
All registered persons who intend to supply goods or services for export without payment of integrated tax shall be eligible to furnish a Letter of Undertaking in place of a bond except those who have been prosecuted for any offence under the Maharashtra Goods and Services Tax Act, 2017
No. MGST-1017/C.R.104/Taxation-1.—In the Government Notification of the Finance Department No. MGST-1017/C.R.104/Taxation-1 [No. 1/2017-State Tax (Rate)], dated the 29th June 2017, published in the Maharashtra Government Gazette, Part IV-B, Extra-Ordinary No. 183, dated 29th June 2017
