CIT Vs M/s. Radaan Media Works (Madras High Court) Department fairly admitted that the brand equity of a sum of Rs.75 lakhs valued at a sum of Rs.75 lakhs would be an intangible right coming within the purview of ‘business or commercial rights’ of a similar nature. He also brought to our notice the decision of this High Court […]
Shri.Ram Karan Yadav Vs ITO (ITAT Jaipur) There is no dispute that the assessee has purchased the JCB machine vide Invoice dated 3rd June, 2011 and delivery was taken on 6th June, 2011. However, the registration of JCB with the RTO was done on 29.08.2011. We further note that in the registration charges, the RTO […]
During the course of assessment, the assessing authority has alleged that the petitioner is not eligible to claim any input tax credit as the goods purchased by the petitioner on which input tax credit is claimed are not resold within a period of six months from the date of purchase. Such allegation was raised based on the special provision contained in Rule 53(6)(b) of the MVAT Rules, 2005.
CBIC seeks to further amend the Notification No. 73/2005 – Customs, dated the 22nd July, 2005 and Notification No. 10/2008- Customs, dated the 15th January, 2008 to bring about necessary changes as per the second protocol amending the India Singapore Comprehensive Economic Cooperation Agreement (CECA). GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) Notification […]
Tariff Tariff Notification No. 78/2018-Cus (NT) dated 14.09.2018 in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Poppy Seeds, Areca Nut, Gold and Sliver- Reg. Government of India Ministry of Finance (Department of Revenue) (Central Board of Indirect Taxes and Customs) Notification No. 78/2018-CUSTOMS (N.T.) New Delhi, 14th September, 2018 S.O. 4869(E).– In […]
Seeks to rescind Notification No. 10/2017-Customs (ADD) dated 24th March, 2017 vide Notification 47/2018-Cus (ADD), dated:14-09-2018 GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF REVENUE Notification No. 47/2018-Customs (ADD) New Delhi, the 14th September, 2018 G.S.R. 883(E).- In exercise of the powers conferred by sub-sections (1) and (5) of section 9A of the Customs Tariff […]
In re Matrix Horizons Private Limited (GST AAR Jharkhand) The amount payable in installment to the Ranchi Industrial Development Authority (RIADA) on lease in respect of the scheduled land/ shed for a period of 30 years from the date of allotment after getting the allotment letter does not come under the category of upfront payment. […]
Central Government hereby notifies for the purposes of the said clause, ‘Rajasthan State Dental Council’, Jaipur, a body constituted by the Government of Rajasthan, in respect of the following specified income arising to that body, namely:—
Shri Vicky Jethani Vs ITO (ITAT Jaipur) We note that the assessee has claimed the gift of Rs. 8,00,000/- received from Smt. Poonaj Kanjani stated to be the Aunt of the assessee and non-resident Indian based at UAE. In support of the claim, the assessee has furnished the Bank Certificate of Bank of Baroda regarding […]
Where the JCIT/ACIT has only recorded Yes I am satsfied then, it has to be held that the approving authority has recorded satisfaction in a mechanical manner and without application of mind to accord sanction for issuing notice u/s. 148 of the Act for reopening of assessment and in this situation initiation of reassessment proceedings and reopening of assessment has to be held as invalid and bad in law.
