History- The unregistered company could be incorporated under the previous law i.e. Companies Act 1956 under PART IX: – COMPANIES AUTHORIZED TO REGISTER UNDER THIS ACT under the preview of section 565 to 581 of the Companies Act 1956.
Section 142 (2A) of the Act anticipates timely submission of the report of the Special Auditor. The Auditor who is to conduct special audit in terms of Section 142 (2) of the Act is not an auditor of the choice of the Assessee. The auditor is nominated by the Revenue and his work is not […]
Amount received by the assessee on account of reimbursement which has been received over and above the amount of FTS cannot be included and taxed as part of FTS.
Central Government hereby appoints the 1st April, 2017 as the date on which the provisions of clause (a) to clause (d) of section 2 of the Code relating to voluntary liquidation or bankruptcy shall come into force.
S.O. … (E).– In exercise of the powers conferred by sub-section (2) of section 14 of the Customs Act, 1962 (52 of 1962), the Central Board of Excise & Customs, being satisfied that it is necessary and expedient so to do, hereby makes the following amendment in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 36/2001-Customs (N.T.), dated the 3rd August, 2001, published in the Gazette of India, Extraordinary, Part-II, Section-3, Sub-section (ii), vide number S. O. 748 (E), dated the 3rd August, 2001, namely
merely because there is an entry in the object clause of the business showing a particular object, would not be the determinative factor to arrive at a conclusion that the income is to be treated as income from business
Recently, in Asian Polymers Vs. Commissioner Of Trade & Taxes & Anr, the Delhi High Court reiterated that re-assessment cannot be used as a tool for causing delay in processing the refund applications. While scrapping the assessment orders passed by the DVAT Department, the division bench criticised the Officials in harsh words.
The textbooks are provided by the Assessee to the students at subsidised rates. Even the textbooks books, reading materials and school bags are being distributed free to deserving students. The essential activity of the Assessee is connected with ‘education’ and nothing else.
Issue of imposition of redemption fine and penalty has been settled and now various Benches of the Tribunal have consistently held that the redemption fine of 10% of the value of the goods and penalty of 5% of the value of the goods is sufficient punishment to the importer. Therefore, following the ratios of various […]
The division bench of the Delhi High Court confirmed the Income Tax exemption granted to the Viswa Hindu Parishad (VHP) for the period in which they were banned by the government under UAP Act.
