The present petition under Article 226 of the Constitution of India has been filed assailing the notice dated 28.03.2017 issued under Section 148 of the Income Tax Act, 1961 (in short, the Act) and also the order dated 25.09.2017 whereby the objections preferred by the petitioner questioning the issuance of notice dated 28.03.2017 was rejected.
ribunal followed its decision in M/s. Essar Teleholdings Ltd. v/s. DCIT to held that an amount disallowed under Section 14A of the Act cannot be added to arrive at book profit for purposes of Section 115JB of the Act.
No more adjournments. No more tareek pe tareek. Enough is enough. That a Court will endlessly grant adjournments is not something that parties or advocates can take for granted. Nor should they assume that there will be no consequences to continued defaults and unexplained delay
For the period prior to 16.06.2005, it was held that the activity of retreading of tyres restore the tyres to its functional form and the same will not come under the category of Maintenance or Repair.
In the absence of any overt act, which disclosed conscious and material suppression, invocation of Explanation 7 to s. 271(1)(c) in a blanket manner could not only be injurious to the assessee but ultimately would be contrary to the purpose for which it was en grafted in the statute.
Mahaveer Yadav Vs ITO (ITAT Jaipur) Where assessee converted agricultural land into state stock of residential plots then the assessee was liable to pay tax as per section 45(2). The fair market value of the asset on the date of conversion as reduced by the cost of acquisition is required to be assessed under the […]
M/s Tirathdas Shaukat Rai Construction Pvt. Ltd. Vs. CCE (CESTAT Delhi) 1. The appellant is aggrieved by the order dated 8thAugust, 2012 of Commissioner of Central Excise (Appeals), Indore. The appellants are engaged in construction activities. The dispute in the present appeal relates to two main activities of the appellant, namely construction of residential units […]
Supdt. of Police Vs. CCE&ST (CESTAT Delhi) Brief facts of the case are that the appellant, Superintendent of Police of various districts in the State of Rajasthan are alleged to have been engaged in providing Security Agency Service covered under Section 65(105)(w) of the Finance Act, 1994 without having the registration for the services. As […]
In exercise of the powers conferred by sub-sections (1) and (3) of section 128, sub section (3) of section 129, section 133, section 134, sub section (1) of 136 read with section 469 of the Companies Act, 2013 (18 of 2013), the Central Government hereby makes the following rules further to amend the Companies (Accounts) Rules, 2014, namely:-
Finance charges like interest received from hire purchase of vehicles are like other interest subject to tax under the Interest Tax Act, the Kerala High Court has said.
