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ROC Gwalior proposes to striking off of names of 70 LLPs (List Attached)

July 31, 2017 1860 Views 0 comment Print

Notice is hereby given that the Registrar of Gwalior, (MP) has a reasonable cause to believe that That the following LLPs in List’ A “(List of 70 Nos. of LLP) have not been carrying on any business or operation for a period of two immediately preceding financial years.”

Clause wise consideration of Companies (Amendment) Bill, 2017

July 29, 2017 3096 Views 0 comment Print

The Companies (Amendment) Bill, 2016 has been passed by the Lok Sabha on July 27, 2017 as Companies (Amendment) Bill, 2017 & would be referred to Rajya Sabha for consideration and passing. There are 54, total Amendment made in Companies (Amendment) Bill, 2017. Circulated 43 amendment proposals out of which five new clauses also have […]

S. 10(46) CBDT notifies Himachal Pradesh Electricity Regulatory Commission

July 28, 2017 921 Views 0 comment Print

Central Government hereby notifies for the purposes of the said clause, the Himachal Pradesh Electricity Regulatory Commission, a commission established by the Government of Himachal Pradesh, in respect of the following specified income arising to that Commission, namely:—

India enters Multilateral Competent Authority Agreement on Exchange of Country by Country Reports

July 28, 2017 1131 Views 0 comment Print

Whereas a Multilateral Competent Authority Agreement on the Exchange of Country-by- Country Reports was entered into by the Government of the Republic of India, being a party to the Convention on Mutual Administrative Assistance in Tax Matters

India’s GST reforms appreciated and hailed by BRICS countries

July 28, 2017 870 Views 0 comment Print

In the meeting of the BRICS Heads of Revenue and Tax Experts held at Hangzhou, China from the 25th to 27th of July, 2017, India’s GST reforms were appreciated and hailed by the BRICS countries. The Indian delegation was led by Dr. Hasmukh Adhia, Revenue Secretary of India.

Penalty cannot be levied on a basis other than what it was in Quantum Appeal

July 28, 2017 2397 Views 0 comment Print

S. 271(1)(c): If the basis on which penalty is initiated by the AO and the basis on which the quantum is confirmed on merits by the Tribunal are different, penalty cannot be levied

CIT not entitled to withdraw Sec. 12A registration for non charitable activities

July 28, 2017 2454 Views 0 comment Print

Commissioner has invoked its powers under Section 12(AA)(3) of the Act. The said powers are circumscribed by the limitations imposed under Sub Section 3 of Section 12AA of the Act. The Commissioner, nowhere has given the finding that the activities of the Respondent­ institution are not genuine one or that the said activity carried out are not in consonance with the object of the institution.

No TDS required to to be deducted on Reimbursement of expenses against separate bills to C&F agents

July 28, 2017 39000 Views 0 comment Print

Reimbursement of expenses against separate bills to C&F agents doesn’t require TDS and hence no dis allowance u/s 40(a)(1a)… ITAT Cochin bench held in the case of St. Mary’s Rubbers dismissing revenue’s appeal

Reopening proceeding without following law must be quashed to save assessee from unnecessary harassment

July 27, 2017 1776 Views 0 comment Print

Assessment Order is without jurisdiction as the law laid down by the Apex Court in GKN Driveshafts (supra) has not been followed, then there is no reason to restore the issue to the Assessing Officer to pass a further/fresh order. If this is permitted, it would give a licence to the Assessing Officer to pass […]

Assessee need not be intimated before attachment of his bank account

July 27, 2017 16704 Views 1 comment Print

In the present case there was no illegality committed by the Department in not issuing to the Assessee a notice under Section 226 (3) (iii) of the Act simultaneously with or prior to the notice issued to its bank under Section 226 (3) (i) of the Act for recovery of the tax demand from its account.

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