Service tax is statutory liability. It is a tax which is required to be collected by the service provider from the person to whom service is provided, and thereafter to be deposited with government treasury within the prescribed time.
Expenses were incurred on the maintenance and puja of the colony temple at Dalmiapuram, Salem and the Hospet works. It appears from para 6.1 of the order of the CIT (Appeals) that he visited the factory at Dalmiapuram to verify the fact that the temple was located inside the factory of the assessee company. He found that it was a small village where the factory was located and predominantly the local people were employed,
In our view, we do not find any substance for the alleged ulterior motive or collusion by Mr. Desai with the OL, since no material is produced to show that any undue benefits was to be derived by the OL. Be it noted that the appeal is not preferred by the OL, but is preferred by the applicant herein in capacity as Party-in-person against the order of the learned Company Judge.
In the present case, the assessee had no right to transfer or alienate the machinery in any form, was obliged to re-deliver the equipment upon termination of lease agreement, was not to part with possession and not to make alteration in the equipments with the stipulation that additions would belong to the lessor; and the lessor was entitled to claim depreciation during the lease period. Looking to the explicit terms and stipulations, the findings of the AO about so-called “substantial” transfer of ownership though “apparent” non-transfer of title, in our view, could not have been countenanced and have rightly been reversed by the Appellate Authority.
Whether the dividend declared by the company after the effective date of amalgamation but before the date of sanction by the High Court would cease to be dividend declared by the company?
Section 529(1) provides for, ‘the respective rights of secured and unsecured creditors……’. It does not classify the secured creditors on the basis of the first chargeholder or the second chargeholder or so on. Similarly, in proviso to clause (c) of sub-section (1) of section 529
Since assessee had not removed defects/objections within a reasonable period therefrom and had taken more than 6 years to remove defects, memorandum of appeal was rightly rejected being barred by limitation.
Passing of an order under Section 158BC rests on the previous approval of the Commissioner. On a reading of Section 158BG, particularly the proviso, reveal the mandatory nature of such an approval, that the proviso reads as ‘provided that no such order shall be passed without the previous approval of the Commissioner …’. In the background of the above-said provisions, in keeping the law declared by the Apex Court in Sahara India (Firm)’s case (supra) that with civil consequences flowing out of such an approval, we have no hesitation in accepting the plea of the assessee that in the face of such an approval granted to the order passed under Section 158BC, there can be no assumption of jurisdiction by an authority of the same rank under Section 263 of the Act.
On appeal, the Commissioner of Income Tax (Appeals) by order dated 07/06/2007 held that foreign travel of the officers did not give rise to any benefit of an enduring nature but enabled efficient running of its business and therefore was revenue in nature. Thus the deduction on account of expenses on account of foreign travel was allowed as claimed by the respondent.
In the original assessment order deduction under section 80I had been granted on the total income, inclusive of the income under section 68 of the Act. The grant of such deduction was not questioned by the revenue at the relevant time. When the matter reached the Tribunal, the same was remitted to the Assessing Officer for reconsideration of the issue pertaining to addition of Rs. 59,56,000/- credited in the books of account by way of share application money on the ground that the same was an unexplained credit out of income from undisclosed sources of the assessee.
