Kolkata bench of Income Tax Appellate Tribunal (ITAT) recently quashed the re-assessment under section 147/148 of the Income Tax Act since service of notice by affixture was done at a wrong address.
Following is the Exposure Draft of the Amendments to Ind AS 20, Accounting for Government Grants and Disclosure of Government Assistance, issued by the Accounting Standards Board of the Institute of Chartered Accountants of India for comments.
In West Bengal State Co-operative Bank Ltd. v. DCIT, the Kolkata bench of Income Tax Appellate Tribunal in its recent order has held that the payment made by banks to casual workers on festive occasion can be allowed as deduction under section 37 of the Income Tax Act.
It has been decided that one representative of the rank of Commissioner or above from every zone shall attend every GST Council Meeting. In this regard Commissioner (GST) has already issued a letter dated 2nd January 2018.
Assistant Commissioner, Commercial Taxes & Ors. Vs. LIS (Supreme Court of India) 1. The liability of the respondent- assessee to payment of tax under the Kerala Tax on Paper Lotteries Act, 2005 (herein after referred to as ‘the Act’) is the question that arises for determination in the present appeal(s). 2. While the primary authority […]
The revisions made to the existing framework are aimed at further streamlining the procedure for private placement of debt securities, allowing private placement of other classes of securities which are in the nature of debt securities and enhancing transparency in the issuance, resulting in better discovery of price. The revised guidelines for the Electronic Book Mechanism are placed at Schedule-A annexed to this circular.
Having regard to the Customs Tariff Act, 1975, as amended from time to time (hereinafter also referred to as the Act) and the Customs Tariff (Identification, Assessment and Collection of Anti-Dumping Duty on Dumped Articles and for Determination of Injury) Rules 1995
Notification No. 02/2018-Customs (N.T.) In exercise of the powers conferred by clause (aa) of sub- section (1) of section 7 of the Customs Act, 1962 (52 of 1962), the Central Board of Excise and Customs, hereby makes following further amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue)
With an objective to enable the investors to compare the performance of a Mutual Fund scheme vis-à-vis an appropriate benchmark, it has been decided that:
The Kolkata bench of Income Tax Appellate Tribunal, in its recent order said that Investment in Jewellery cannot be treated as Unexplained when it is reflected in the books & the source of Fund is evidenced through Bank A/c.
