Raja Ram Vs Jai Prakash Singh and Others (Supreme Court) The deceased undisputedly was over 80 years and above in age. The plaintiff pleaded that by reason of age and sickness, the deceased was unable to move and walk, with deteriorated eye sight due to cataract. The mental capacity of the deceased was impaired. The […]
Explore the ITAT Mumbai judgment in Anandkumar Jain vs ITO, highlighting rectification under Section 154 for deduction under Section 80HHC based on subsequent Supreme Court decisions.
Draft CS (Amendment) Regulations, 2019 A Step Towards Implementing & Executing Vision New ICSI 2022 THE INSTITUTE OF Company Secretaries of India IN PURSUIT OF PROFESSIONAL EXCELLENCE Statutory body under Act of Parliament (Under Jurisdiction of Ministry of Corporate Affairs) “For the soul there is never birth nor death. Nor, having once been, does he […]
When payment of Advance Income Tax is necessary? If the Income tax liability of any assessee, for the Assessment year 2020-21 (Financial Year 2019-20) i.e. for the year from 1st April, 2019 to 31st March, 2020 is, likely to exceed Rs.10,000/-, then payment of Advance Income Tax is mandatory. If a company does not have […]
Section 197(16) of the Companies Act, 2013 requires as under: ‘The auditor of the company shall, in his report under section 143, make a statement as to whether the remuneration paid by the company to its directors is in accordance with the provisions of this section, whether remuneration paid to any director is in excess of the limit laid down under this section and give such other details as may be prescribed.’
CBDT has been issuing guidelines from time to time for compounding of offences under Direct Tax Laws, prescribing eligibility conditions. One of the conditions for filing of Compounding application is that, it should be filed within 12 months from filing of complaint in the court.
Prosecution is a criminal proceeding. Therefore, based upon evidence gathered, offence and crime as defined in the relevant provision of the Act, the offence has to be proved beyond reasonable doubt. To ensure that only deserving cases get prosecuted the Central Board of Direct Taxes in exercise of powers under section 119 of the Act lays down the following criteria for launching prosecution in respect of the following categories of offences.
In re West Bengal Medical Services Corporation Ltd (AAR West Bengal) The Applicant has been set up under Notification No. HF/SPSRC/WBMSC/40/2008/162 dated 17/11/2008 of the Department of Health & Family Welfare, Government of West Bengal, as a fully owned body for managing the procurement of drugs and equipment for the medical colleges and hospitals and […]
The petitioner’s grievance that the work of important Tribunal like Income Tax Appellate Tribunal should not be allowed to suffer on account of shortage of administrative staff is perfectly legitimate, however, we do not find any lethargy on the part of the Department in not filing up said posts.
ACIT Vs Shri Anil Gulabdas Shah (ITAT Mumbai) The undisputed position that emerges is the fact that the property under consideration was subject matter of extensive litigation which ultimate got culminated into sale of the property by the assessee in terms of consent terms dated 03/01/2012 between the assessee and certain other parties. The assessee, […]
