MSEDCL is a State under Article 12 of Constitution and cash payments made to its franchise/agent is covered under Rule 6DD(b). Therefore, disallowance under Section 40A(3) is not justified.
As per Rule 66E(b), Service Tax Rules, 1994 in construction service, service tax is required to be paid on amount received from buyers towards booking of flat before the issuance of completion certificate by the competent authority and the booking can be cancelled by the buyer any time before taking possession of the flat.
It is evident that the assessee had received cash amounts, but deposited in its Bank A/c which is in violation of the provisions contained in Section 269SS. But like any other penalty, the operation of Section 271D with reference to the violation of the provisions contained in Section 269SS also is not automatic.
Mahimananda Mishra Vs ACIT (Orissa High Court) A plain reading of ection 2(22)(e) of the Income Tax Act, 1961 indicates that the taxing of the deemed dividend has to be in the hands of the shareholder of OSL. In the present case, admittedly it is Mr. Mishra in his individual capacity who holds 36.95% of […]
Denial of refund of Service Tax paid on Banking and Financial Services – The said refund has been rejected on the ground that the appellant has failed to correlate the services availed with the exports of goods.
ACIT Vs Cellbiz Services (ITAT Kolkata) CIT(A) has categorically mentioned that the cash book, purchase register and all individual invoices where cash transaction had taken place have been thoroughly checked and it is found that not a single such transaction actually exceeded the threshold limit of Rs.20,000/-. In view of the aforesaid factual finding given […]
Statement of a truck driver cannot be the basis for initiating penalty proceedings. Statement of truck driver which has been recorded by officer of department is not corroborated by any proof and said statement cannot be relied upon for initiating penalty proceedings.
Third Party Inspection Agency means a professional organization recognized by Chief Controller of Explosives to carry out inspection and safety audit of major accident hazards premises as defined under the Manufacture, Storage and Import of hazardous Chemicals Rules, 1989, and having minimum three persons with minimum qualification of masters degree in chemistry or bachelors degree in chemical engineering from a recognized university and minimum experience of ten years in manufacturing and handling of Explosives
With the aim of streamlining the Halal certification process for export of meat and meat products from India, the draft guidelines on Halal certification for export of meat and its products are proposed.
In the last couple of years, Indian securities market has seen tremendous growth, both in terms of volumes as well as in terms of number of participants. This increasing participation with increase of new investors in securities market also puts greater onus on SEBI to make markets safer for its participants, with a special focus on retail participants.
