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Neglect to pay despite winding up notice, in law is to be deemed to be insolvent

April 7, 2017 1809 Views 0 comment Print

This petition filed by the petitioner company M/s. Shree Balkrishna Commercial Company Limited (hereinafter ‘the petitioner company’) under section 434 of the Companies Act, 1956 (hereinafter ‘the Act of 1956’) seeks winding up of the respondent company M/s. Ask Dairies Private Limited (hereinafter ‘the respondent company’) for reason of its inability to repay the due, […]

Levy of Capital Gain Tax when assessee denies ownership and sale

April 6, 2017 4584 Views 8 comments Print

Admittedly, the petitioner has lodged a police complaint that her name has been misused in a document in respect of a property of which she is not the owner. Therefore, the matter requires further detail prob.

TPO cannot go beyond ITAT instruction in matter remanded to him

April 6, 2017 2235 Views 0 comment Print

In a recent ruling, the Delhi High Court found that the Transfer Pricing Officer (TPO) cannot go beyond a remand order when such remand was based on a specific finding. The division bench comprising of Justice S. Ravindra Bhatt and Justice Najmi Waziri was hearing a writ petition filed by M/s LI & FUNG India, against the Show Cause Notices issued by the Revenue.

CAs can demand highest prescribed billing rate for quality audit performed by them

April 5, 2017 2739 Views 0 comment Print

This petition under Article 226 of the Constitution of India seeks quashing/modification of an order dated 07.11.2014 passed by the respondent No. 1/Commissioner of Income Tax, Central-II under Section 142(2D) of the Income Tax Act, 1961 (hereinafter to be referred as ‘the Act’) read with Rule 14B of the eponymous Rules of 1962.

Ensure guidelines are followed by ‘Anti-Romeo’ Squads

April 5, 2017 1362 Views 0 comment Print

This writ petition in public interest has been brought forward highlighting the recent steps taken by the State Government by calling upon the police authorities to take appropriate steps of policing in order to prevent such crimes that outrage or insult the modesty of female citizens of this State.

Expense cannot be disallowed for mere not resulting in profit for Assessee

April 5, 2017 2514 Views 0 comment Print

Fact that a particular expense does result in a profit for the Assessee in the immediate proximity cannot form the basis of its dis allowance. In incurring an expense, a business person could have a short and a long term perspective.

Luxury Tax leviable on Accommodation under ‘Timeshare Agreement’

April 5, 2017 2349 Views 0 comment Print

The petitioner does not have a contention that the Resort owned by the petitioner does not come under the definition of “Hotel”. The Resorts are assessed under the LT Act and have also been remitting such tax as collected from the non-members who are residing in their facility and for any facility other than accommodation […]

Kerala HC upholds Levy of One Time Registration Tax on Taxi Vehicles

April 5, 2017 1356 Views 0 comment Print

These writ petitions concern challenge to Finance Bill, 2014 by which taxi vehicles are also imposed with an obligation to pay one time tax for fifteen years.

Credit of Advance Tax paid can be claimed under IDS 2016

April 4, 2017 3660 Views 0 comment Print

Court is of the opinion that there is no bar for an assessee or declarant to claim credit of advance tax amounts paid previously relative to the assessment years or periods for which it seeks benefits under IDS scheme.

Educational qualification is not a qualification prescribed for post of Kotwar in Kotwari Rules

April 4, 2017 5883 Views 0 comment Print

.The basic finding of the Board of Revenue that educational qualification is required for the post of Kotwar is unsupportable by the Rules and therefore the consequent finding recorded that the petitioner has referred incorrect educational qualification (marks sheet) to support his appointment, is also liable to quashed being perverse to the record.

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