M/s. Gujrani & Co. Vs. Income Tax Officer (ITAT Kolkata) It is observed that the audit expenses of Rs. 5,19,238/- were claimed to be incurred by the assessee- company towards traveling and conveyance of the Articled Clerks, who were C.A. students receiving training from the assessee- firm. It was contended by the assessee during the […]
Undisputedly, interest-free funds available with assessee were far in excess of amount advanced to sister concern and a presumption would arise in favour of the assessee that interest-free funds had been utilized for advancing interest free loan to the sister cocnern, therefore, disallowance of deduction under section 36(1)(iii) was not justified.
The Kerala High Court, in M/S Indus Towers Limited Vs. The Assistant State Tax Officer, held that the power of detention contemplated under Section 129 of the SGST Act can be exercised only in respect of goods which are liable to be confiscated under Section 130 of the SGST Act.
In re M/s. Dyna Automation Private Limited (AAR Gujarat) What is the classification and rate of Goods and Services Tax for Steering unit which is a kind of hydraulic valve and used as intermediate parts of hydraulic systems in agricultural harvesting machine ? The product “Hydraulic Orbital Valve” is classifiable under Tariff Heading 84.81 of […]
In re M/s. Aqua Machineries Pvt. Ltd. (AAR Gujarat) In common parlance, when one refers to ‘water’, it is understood in the sense of clear or raw water and not in the sense of ‘sewage’. In commercial parlance also, ‘pumps primarily designed for handling water’ and ‘other pumps or pumps designed for handling sewage’ are […]
In re M/s. R.B. Construction Company (AAR Gujarat) A. Does the work executed and invoice to be raised for the pending event of testing and commissioning by the applicant after the implementation of the Goods and Services Tax Act amount to supply, and specifically supply of works contract ? The work of laying of underground […]
A. List Of Banks With Addresses Authorized By Reserve Bank Of India To Import Both Gold And Silver B. List Of Banks With Address Authorized By Reserve Bank Of India To Import Only Gold C. List Of Nominated Agencies Under FTP
Ind AS Transition Facilitation Group (ITFG) of Ind AS Implementation Committee has been constituted for providing clarifications on timely basis on various issues related to the applicability and /or implementation of Ind AS under the Companies (Indian Accounting Standards) Rules, 2015
Where the value of stock shown to bank for purpose of availing of higher credit facility was based on market rate and not at cost price but there was no difference in quantitative details, no addition under section 69B could be made.
A nationwide E-way Bill System will be rolled out on trial basis from tomorrow i.e. 16th January, 2018. Avail the opportunity to get used to the system before it becomes compulsory.
