The article primarily deals with the procurements made by the SEZ units from the DTA suppliers and the tax ability thereon. It contains a summarized procedure for availing supplies at zero rate of tax by the SEZ units and also discusses the refund mechanisms available in the hands of the supplier.
This Tax Appeal is filed challenging the judgement of the Income Tax Appellate Tribunal dated 28.08.2006. The Tax Appeal has been taken up for consideration of following substantial questions of law: [A] “Whether the Appellate Tribunal is right in law and on facts in confirming the order passed by the CIT(A) deleting the addition of […]
In the instant case the impugned property was sold at a value lesser than the value adopted for the purpose of stamp duty. Therefore the valuation determined for the purpose of stamp valuation is taken as sale consideration. However, such deeming provision cannot be applied to the provision of law as specified Section 54EC of […]
Registrar has reasonable cause to believe that the Limited Liability Partnership (LLPs), as per Annexure, are not carrying on any business or operation for a period of two years or more as the LLPs have not filed any financial statements for the last two financial years.
Central Board of Direct Taxes hereby makes the following amendment in the notification of Central Board of Direct Taxes, number S.O. 1590(E), dated the 16th May, 2017
Constitution of two Review Committee (s) for reviewing the 10 year old and above cases of different regions and in office of SFIO for withdrawal of prosecution. The Committees would review and recommend the details of cases in which prosecutions are required to be withdrawn including the reports submitted by the Regional Director (s)
It has been about three weeks since India’s landmark GST (Goods and Service Tax) became operational on July 1, 2017. Its impact on the overall economy business, households, and the government organizations is expected to be multi -faceted, and will be felt by different sectors over differing time periods in a dynamic and non-linear pattern.
This appeal under Section 260A of the Income Tax Act, 1961 (Act) challenges the order date 23.4.2002 of the Income Tax Appellate Tribunal, Nagpur (Tribunal) relating to Assessment Year 1995- 96.
ITAT held that as the assessee had produced a certificate showing that it was registered as Primary Agricultural Credit Society under the provision of Co-operative Societies Act, therefore, the assessee was entitled to the benefit of deduction under section 80P(2).
In ACIT Vs. M/s. Nokia Siemens Networks (P) Ltd, the Delhi ITAT held that assessee cannot be treated as Assessee- in- Default for Late payment of TDS due to system and connectivity issues at the bankers’ end.
