While hearing the case of Sri Chilukurthi Veeraiah vs. Income Tax Officer, Hyderabad bench of the Income Tax Appellate Tribunal (ITAT) held that Assessing Officer (AO) should give reasonable opportunity to produce evidence to assessee to examine source of gift.
It is also an admitted fact that no such condition has been imposed in the notification, dated 20.12.1975 that the registered dealers engaged in sale of the above said goods, have to produce ‘C’/’D’ Forms for claiming concessional rate of tax.
M/s. Bharat Heavy Electricals Ltd. Vs. State of Maharashtra (Bombay High Court) It is evident that in the facts of the present case the contract was clearly one for supply and erection of equipment, supply of equipment being dominant purpose. No doubt the State of Maharashtra had enacted the Maharashtra Sales Tax on “Transfer” of […]
Where the communication cannot be delivered or transmitted to the address mentioned in item (i) to (iv) or any other address furnished by the addressee as referred to in first proviso, the communication shall be delivered or transmitted to the following address:— (i) the address of the assessee as available with a banking company or a co-operative bank to which the Banking Regulation Act, 1949 (10 of 1949) applies (including any bank or banking institution referred to in section 51 of the said Act); or
Digital Era and the Chartered Accountancy Profession –Survey Report 2017 is a crucial step to take the pulse of the challenges profession faces in digital era, and making the profession digital ready.
DCIT Vs. Sh.Vipan Guppta Prop. (ITAT Chandigarh) We find no infirmity in the order of the Ld.CIT(Appeals) in deleting the penalty levied following the decision of the Coordinate Bench in the case of M/s Hycron Electronics Vs. ITO in ITA No. 326/Chd/2015 relating to assessment year 2009-10. On perusal of the said order we find that […]
The details of the shareholding of the promoters and promoter group, public shareholder and non-public non-promoter shareholder must be accompanied with PAN Number (first holder in case of joint holding). Further, the shareholding of the promoter and promoter group, public shareholder and non-public non-promoter shareholder is to be consolidated on the basis of the PAN and folio number to avoid multiple disclosures of shareholding of the same person.
It is hereby clarified that Part -E shall contain the information related to the actual investments and other receipts/payments made in the wage month with which the online return For example in monthly return of March 2017, Part – E will contain the actual contribution receipts, payments and details of the investments made between 01 March 2017 and 31 March 2017.
According to Section 215 of Insolvency and Bankruptcy Code (IBC), 2016, a financial creditor shall submit financial information and information relating to assets in relation to which any security interest has been created, to an information utility (IU) in such form and manner as may be specified by regulations.
Notification No. 117/2017-Customs (N.T.) Rate of exchange of conversion of ‘South African Rand’ wef 20.12.2017 For Imported Goods 5.20 and For Export Goods 4.85.
