M. Vijayakumar Vs ITO (ITAT Chennai) We noted that the CIT(A) has not doubted the source of maturity of assessee’s father FDs of Rs.8 lakhs which was withdrawn on 01.11.2016. Admittedly, the assessee made deposit on 10.11.2016 in cash, this amount of Rs.8 lakhs. The only dispute is confirmation, which now the assessee confirmed by […]
It is evidently clear that there was no auto generation of the amount at the site after filling in the basic rate. On the other hand, it is absolutely clear that the amount as was entered at Sr. No. 13 was auto reflected at Sr. No.53.
Man Mohan Patnaik Vs Cisco Systems Capital India Pvt.Ltd & Ors. (Delhi High Court) Upon a bare perusal of section 138 of the NI Act, it is evident that the genesis of an offence under that provision is the ‘return’ of a cheque by a bank ‘unpaid’, inter-alia for insufficiency of funds in the account […]
ITAT note that the benefit of deduction u/s 11 of the Act has been denied by the authorities below primarily on the reasoning that the trust was not registered under the provision of section 12A of the Act.
Section 51 of the OVAT Act read with Rule 55 of the OVAT Rules provides a special mode of recovery of outstanding amount of tax, interest and penalty. Even these provisions do not authorize recovery of outstanding taxes of a Company from the accounts of its individual Directors.
Assessee claimed deduction u/s. 10B of Income Tax Act in its return of income instead of section 10AA. This can be a human error while preparing E-return.
There is no provision under the head Profits and Gains from business or profession which deems the rental income from unsold flats held as stock as Business income.
Company failed to paint or affix its name and address of its registered office outside its office or place in which its business is being carried upon. Therefore company has not complied with the provisions of section 12(3)(a) of Companies Act, 2013
ICAI being a prominent and world class educational institution actively works towards expanding the ecosystem for development of Commerce education in the country and to attract the best talent to the profession through Career Counselling, as also build the capacity and competency of the CA students through various interactive initiatives like CA Student Conferences.
The gross GST revenue collected during December 2022 is Rs 1,49,507 crore, of which CGST is Rs 26,711 crore, SGST is Rs 33,357 crore, IGST is Rs 78,434 crore (including Rs 40,263 crore collected on import of goods) and Cess is Rs 11,005 crore (including Rs 850 crore collected on import of goods).
