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Expense on improving the quality of existing products are revenue expenditure

June 26, 2018 1410 Views 0 comment Print

CIT Vs Arvind Products Ltd. (Gujarat High Court) Assessee who was engaged in manufacturing textile products, had expended the amount in question for product development undertaken by a sister concern of the assessee on its behalf. The research work did not involve development of a new product or even a new technique or technology to […]

TDS on fees paid for marketing service rendered outside India

June 26, 2018 51765 Views 1 comment Print

It was submitted by the assessee that the fees were paid for marketing service rendered outside India and hence, did not become chargeable to tax in India requiring tax deduction u/s. 195 of the Act.

ITAT restricts addition for Bogus purchases to 5% of purchase

June 26, 2018 3618 Views 0 comment Print

Where AO was of view that assessee had made bogus purchase on the ground that no proof of transportation and lorry receipt was filed, however, AO was not justified in making addition of 25% of purchase amount and addition was to be restricted to 5% of purchase.

Transport facility by School is incidental to main object of education

June 26, 2018 3276 Views 0 comment Print

Challenging the order dated 02.03.2015 in Appeal No 98/13-14/GZN/63 for the assessment year 2010-11 passed by the learned Commissioner of Income-tax (Appeals), Muzaffarnagar (for short hereinafter called as the learned CIT(A)), the assessee preferred this appeal.

Printer being part of computer system eligible for 60% depreciation

June 26, 2018 14007 Views 0 comment Print

CIT Vs. Cactus Imaging India (P.) Ltd. (Madras High Court) It can be inferred that the machines ‘computer printers’ under consideration can either be called computers-printers, since a lot of independent functions done by the computers are done by these printers and they can be called an integral part of the computer system. It should […]

Chhattisgarh VAT: SCN issued after three calendar years from the date of Original Assessment Order are invalid

June 26, 2018 1383 Views 0 comment Print

M/s Kishan Lal Vs Additional Commissioner Of Commercial Tax (Chhattisgarh High Court) In the proviso (a) to sub-section (3) of Section 49 of the VAT Act an embargo has been created for the purpose that no proceeding initiating suo motu revision under Section 49 (3) shall be initiated after the expiry of three calendar years […]

RBI, ED and CBI looked upon as ‘guardians of citizens’ rights’ : Bombay HC

June 26, 2018 621 Views 0 comment Print

We are concerned in this petition with the actions of the RBI and the Enforcement Directorate, both of whom refer to the criminal proceedings launched by the CBI. Those in-charge of their affairs and those in power giving them directions ought to realise that nothing would be achieved if foundations and base of these institutions is shaken and if they allegedly obey every command of the political masters

People Legitimately Expect Antiquities like Kohinoor to be brought Back: CIC

June 26, 2018 1029 Views 0 comment Print

The appellant sought information regarding efforts made by the Government of India along with the related documents and correspondence for bringing into India (i) Koh-i-Noor diamond, (ii)Sultanganj Buddha, (iii) Nassak Diamond (iv) The Sword and ring of Tipu Sultan, (v) The golden throne of Maharaja Ranjit Singh (vi) Royal Jade wine cup of Shahjahan

GST Filing Ledger Related Grievances (PMT-04)- Manual and FAQs

June 26, 2018 8124 Views 0 comment Print

FAQs > Filing Ledger Related Grievances (PMT-04) 1. For which issues can I raise a grievance related to Ledgers? Grievance can be raised in case of following issues: Discrepancy in Electronic Cash Ledger Discrepancy in Electronic Credit Ledger Discrepancy in Electronic Liability Register 2. Who can report grievances? Do I need to be a registered […]

Pattern of Assessment From May 2019 Examination for CA Students

June 26, 2018 7206 Views 0 comment Print

Announcement PATTERN OF ASSESSMENT FROM MAY 2019 EXAMINATION Students appearing in the Intermediate and Final Examinations may please note that beginning from May, 2019 attempt, assessment in the following subjects would be partially based on objective type questions: Intermediate Level Final Level Paper Subject Paper Subject 2 Corporate and Other Laws 3 Advanced Auditing and […]

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