S. 68: Argument that the assessee did not maintain books of account and so s. 68 will not apply is not acceptable. It is incumbent on every assessee doing business to maintain proper books of account. It may be in any form. If the assessee has not done so, he cannot be allowed to take advantage of his own wrong. Burden lies on the assessee to show from where he has received the amount and what is its nature
Chartered Accountant Satish Kumar Gupta had resigned as Director of BLF before opening of the public issue of BLF irrespective of the fact that his resignation was allegedly accepted on 9.9.1997, in respect whereof no material was brought on record. Having resigned before the commencement of the public issue, his name could not have appeared […]
S. 260A/27A: Meaning of substantial question of law explained. The High Court cannot proceed to hear a second appeal without formulating the substantial question of law involved in the appeal and if it does so it acts illegally and in abnegation or abdication of the duty case on Court
Conclusion: Where assessee trust could not file audit report as its accounts having been seized were released for quite a shorter time period before filing of return, however, the audit report had been filed along with revised return filed by assessee even before last date prescribed for completion of assessment, AO was not justified in denying exemption under section 11.
THE WEST BENGAL GOODS AND SERVICES TAX ACT, 2017 An Act to make a provision for levy and collection of tax on intra- State supply of goods or services or both by the State of West Bengal and the matters connected therewith or incidental thereto.
01 The present petition is filed by the petitioner under Articles 226 of the Constitution of India as well as under Sections 24 and 28 of the Advocates Act, 1961 for the prayers as prayed for inter alia that appropriate writ, order or direction may be issued to the Bar Council of India to enroll […]
S. 37(1): in order to decide whether disputed lease rent is deductible in the year of fixation or in the year the dispute attains finality, the nature of fixation of rent, its payment, recovery etc. and whether it is statutory or contractual, have bearing. The Tribunal is required to bring the facts on record
In general, the Company functions through the decisions of the Board of Directors who are guided by the wishes of the majority subject to welfare of the company. The general principle of company law is that every member holding shares of a particular class will have equal rights to vote. It has therefore become a Cardinal Rule of Company Law that prima facie, a majority of members of a company are entitled to exercise the powers of the company and generally control its affairs.
It is a settled principle of Hindu law that there lies a legal presumption that every Hindu family is joint in food, worship and estate and in the absence of any proof of division, such legal presumption continues to operate in the family. The burden lies upon the member who after admitting the existence of jointness in the family properties asserts his claim that some properties out of entire lot of ancestral properties are his self-acquired property
The Rajasthan High Court, last day admitted a petition seeking exemption to supply of construction services to affordable houses constructed under the Government approved Housing projects. The petitioners, Reverence Infrastructure (India) LLP, has approached the High Court impugning notifications issued under the CGST, and SGST whereby 9% percent tax was made applicable to two-third of the value of the intra- state services involving construction of complex building or civil structure and 18% was imposed on % on two-third of the value of inter-state services of construction of building or sale of its units thereof.
