The word Education has not been defined under the CGST Act, 2017. However, the Apex Court decision in the case of Loka Shikshana Trust vs CIT has decided that education is process of training and developing knowledge, skill and character of students by normal schooling.
With a view to mitigate the hardships being faced by members whose names stand removed as on date due to non-payment of membership fee, the Council in its 374th meeting held in March 2018 has decided to give an opportunity by way of Scheme for restoration of their names retrospectively.
Because in any view, the addition made u/s 68 of Rs.10,00,000/- of amount of gifts received (Rs.5,00,000/-+ Rs.5,00,000/-) in the Assessment u/s 153A without having any adverse material, and by not appreciating the evidences on record, the addition confirmed by ld. CIT(A) is grossly unjust, arbitrary, and against the facts and law of the case.
Role of Secretarial Standards Set a unified code of secretarial practices and ethics to be followed by corporates Facilitate dispute resolution between various stakeholders Provide clarity where the law is silent or ambiguous Boost confidence of investor and in particular, the Institutional Investor. Provide assurance to Directors, in particular Independent Directors and to Bankers, Regulators and other stakeholders Set higher benchmarks of Ethics and Corporate Governance
CIT(A) has erred in confirming the addition wrongly made under section 153A of the Act, without there being any adverse material on record against the assessee; that since the assessee had no business income, no books of account were maintained and the addition was made only on the basis of the assessee’s pass book, which is not a book of account; that as such, the addition made under section 68 of the Act is not sustainable.
GST, which has been hailed as a classic example of cooperative federalism (for mere reasons like allowing the tiers of the government to share a common platform i.e. the GST Council, prescribing similar and simpler procedures of tax-payment for these tiers, launching a common national market etcetera) does not, paradoxically, stand positive on any of the parameters used for qualifying a federal model as one of cooperative federalism.
Jhabua Power Limited Vs DCIT (ITAT Kolkata) It is observed that the construction of Power Plant of the assessee-company was under progress during the year under consideration and in connection with the same, security deposit was required to be kept by the assessee to Commercial Tax Officer for sales-tax registration as well as with Executive […]
The CIT (A) has failed to understand that your appellant was not under any legal obligation to effect TDS on purchase of Computer Software in F.Y. 2011-12 as these were considered as purchase of goods under the then existing provisions of law and subjected to customs duty. Purchase of computer software was brought under the definition of Royalty vide the Finance Act 2012 with retrospective effect.
The assessee, a company engaged in deriving rental income from letting out of warehouse, filed its return of income for asst. year 201314 on 29/8/2013 declaring income of Rs. 26,97,860/- treating the rental income received there form as business receipts and offering the same for taxation of business income. The case was taken up for scrutiny and the assessment was completed u/s 143(3) of the Income-tax Act, 1961 (in short ‘the Act’) vide order dated 24/3/2016
Since a common question of law arises in these appeals, they are being disposed of by this common judgment. Briefly stated the facts are that the appellant assessee manufactures cylinders for storage of Liquefied Petroleum Gas (LPG). At the relevant time
