A bare reading of the sub-section (5) of Section 22 would show that it is only after an assessment is complete under sub-section (4) of Section 22, that penalty can be imposed by the Assessing Officer. However, it can, either be imposed at the time when, the assessment order is passed, or, by way of a separate order, albeit, after the assessment order is passed. Therefore, the proposal in the show cause notice to levy penalty at the rate of 150% prior to adjudication demonstrates premeditation.
CBEC, hereby makes the following further amendments in the notification of the Government of India, in the Ministry of Finance (Department of Revenue) No. 62/94 –Customs (N.T), dated the 21stNovember, 1994, published in the Gazette of India, Extraordinary, vide number S.O. 829 (E), dated the 21stNovember, 1994, namely:-
Central Board of Excise and Customs hereby determines rate of exchange of conversion of each of foreign currencies WEF 3rd March, 2017.
Governor of the National Capital Territory of Delhi is pleased to appoint the following officer, with effect from the date of assumption of charge to assist the Commissioner of Value Added Tax, Government of National Capital Territory of Delhi, in the administration of the said Act, namely:
This petition under Article 227 of the Constitution of India has been preferred for quashment of the recovery and auction proceedings initiated against the petitioner by the respondent UCO Bank (the Bank henceforth); for quashing the appellate order dated 9-11-2011 passed by the Debts Recovery Appellate Tribunal
Introduction of New Syllabus for the Foundation Programmes of the Company Secretaryship Course- The New Syllabus for Foundation Programme shall comprise of four PAPER 1: BUSINESS ENVIRONMENT AND LAW PAPER 2: BUSINESS MANAGEMENT, ETHICS & ENTREPRENEURSHIP PAPER 3: BUSINESS ECONOMICS PAPER 4: FUNDAMENTALS OF ACCOUNTING AND AUDITING
itIt is desirable that Paper ITRs filed for AY 2015-16 (lTR 1, 2, 2A & 4S) or earlier AYs or E·filed ITRs transferred by CPC and pending for processing in AST,as on date, is completed at the earliest without waiting for the statutory due date.
Shri Ajay Tyagi took charge as Chairman, Securities and Exchange Board of India, today. Prior to this, Shri Tyagi was Additional Secretary, Department of Economic Affairs, Ministry of Finance, Government of India, handling the portfolios of Capital Market Division, Investment Division, Infrastructure Division and Currency and Coinage Division.
Ballasts or boulders or chips being mineral as per Entry 117 of the taxable list are exigible to tax at the rate of 4% of taxable list. Moreover, the appeal has been purportedly filed before the Tribunal with proper perspective and there is no defect in raising any such plea before it.
This common judgment will dispose of a batch of writ petitions. They were heard together as they involve identical questions of fact and law as to the correct interpretation of Section 194-I of the Income Tax Act [hereafter the Act].
