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J&K becomes first UT to be integrated with National Single Window System

February 10, 2022 516 Views 0 comment Print

J&K becomes the first Union Territory to be integrated with National Single Window System. LG, Shri Manoj Sinha launches the J&K Single Window Clearance System integrated with NSWS. NSWS is linked with India Industrial Land Bank (IILB) which hosts 45 industrial parks of J&K, will help Investors to discover available land parcels in J&K. In […]

ICSI Guidelines/Instructions for applying For Transcript (For Students)

February 10, 2022 3681 Views 0 comment Print

Self-attested copies of the mark sheets of all the Exam passed. (Foundation, Intermediate/Executive and Final/Professional examination); please note that all mark sheets are mandatory, you must provide self-attested copy of all mark sheets (all groups/ modules).

Trust entitled for benefit of excess utilization of earlier years

February 10, 2022 3999 Views 2 comments Print

Hapur Pilkhuwa Development Authority Vs ACIT (ITAT Delhi) Learned CIT(A) has not allowed the benefit of excess utilization of earlier years, claimed by the assessee by raising additional ground. Ld. AR for the assessee contended that this issue is also covered in favour of the assessee by the order passed by coordinate Bench of Tribunal […]

Loan syndication fees not allowable if no proof of services rendered submitted by Assessee

February 10, 2022 1020 Views 0 comment Print

During the year under consideration also the assessee could not substantiate with relevant evidences that these expenses were related to loan syndication fees and the same was claimed as Investment Advisory Services without any break up of the detail of loan advances arranged by these two parties.

Safety Glass (Quality Control) Amendment Order, 2022

February 10, 2022 879 Views 0 comment Print

This Order may be called the Safety Glass (Quality Control) Amendment Order, 2022. (2) It shall come into force on the date of its publication in the Official Gazette.

HC demands combined report from Police & GST Authorities as both taken views different from each other

February 9, 2022 774 Views 0 comment Print

Md Faruk Alam Vs State of Assam (Gauhati High Court) In accordance with the order dated 30.9.2021, Mr. Sarma, learned Additional Public Prosecutor as well as Mr. M. Phukan, learned Public Prosecutor, has interaction with one Assistant Commissioner of GST, and after interaction and verification of the relevant GST Portal, the GST papers furnished by […]

GST on recovery of Notice Pay from employees- No Ruling by AAAR due to difference of Opinion

February 9, 2022 3975 Views 0 comment Print

In re Amneal Pharmaceuticals Pvt. Ltd. (GST AAAR Gujarat) Question: Whether the applicant is liable to pay GST on recovery of Notice Pay from the employees who are leaving the company without completing the notice period as specified in the Appointment Letter issued as per the contract entered between Employer and the Employee?” Answer: AAAR […]

Standard Operating Procedure For GST Registration

February 9, 2022 19218 Views 0 comment Print

It is noticed that there is a lack of basic knowledge of law w.r.t. existing laws which are applicable and which are applied in the registration for GST. The following steps shall be followed by the various Jurisdictional Commissionerate prior to the staffing and delegation of work relating to GST Registration:

Non communication of intimation by Tax Professional is sufficient cause for condonation of delay in appeal filing

February 9, 2022 1632 Views 0 comment Print

Sameer Granites Pvt.Ltd. Vs ACIT (ITAT Bangalore) In the instant case, the assessee had submitted that the orders passed u/s 200A of the Act were never served on the assessee physically or otherwise. It was stated that intimation u/s 200A downloaded from the office of the Assessing Officer by the Tax Professional, was not communicated […]

Depreciation not allowable on Portion of Factory leased to earn Rent

February 9, 2022 5694 Views 0 comment Print

In this case, assessee is engaged in manufacturing of automobile components and let out 50% of its factory building on lease and earned rental income. Thus, the ld. CIT(A) has rightly held the rental income as income under the head house property. Having the rental income held as income under the head house property, the assessee is not eligible for claim of depreciation on the let out portion.

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