Whether assessee has defaulted in payment in payment of additional amount of income-tax payable on the income disclosed in the original application and provision of section 245D (2C) can be invoked in such circumstances.
Clearing difference has been determined on the basis of statement of purchase and sales of shares of security made on assessee’s behalf by the broker. CIT(A) decided this issue after examining the ledger accounts maintained by the assessee and contract notes issued by the broker.
The respondent assessee in all these appeals are partnership firms engaged in the business of banking and registered under the Kerala Money Lending Act. The assessees had filed return of income and the same was accepted in due course.
The learned counsel for assessee justified the claim for depreciation on the ground that these amounts which were capitalized, represented expenditure incurred in raising finance for the acquisition of and/or for brining into existence capital assets and thus formed part of the cost of fixed assets.
In the case of The Commissioner of Central Excise Vs. M/s. Super Spinning Mills Ltd., it was held that non-mentioning of Section 72 of the Customs Act, 1962 along with Section 28 of the Customs Act, 1962 would render the Show-Cause Notice outside the purview of Section 72.
Commissioner, Customs & Central Excise Vs.M/s.Voltarc India (P) Ltd. (Andhra Pradesh High Court)- Tribunal also found that Voltarc symbol which was being used on the wrapper and packer was reflecting only the name of the company
It was stated that in J.P.Tobacco Products Pvt. Ltd vs Commissioner of Income Tax; (1998)229 ITR 123, the Madhya Pradesh High Court, after noticing that sub-Section 9 of Section 80-HH was amended by Act No.30 of 1981, Section 80-HH and Section 80-I were independent and consequently
The sole issue in the present writ petition is whether information related to income-tax returns of politician can be provided to any individual in purview of proviso of section 8 (1) (j) of the Right to Information Act, 2005. Whether the petitioner is entitled to the information
In the case of M/s Shyam Steel Industries & Anr. Vs. Deputy Commissioner of Central Excise and Service Tax & Ors, it was held by Calcutta High Court that discount of any type made known prior to the clearance of the goods but quantified subsequently
Since the income of CGS International and Marble Arts & Crafts can only be classified under Article 14 or Article 22 of the DTAA – both of which provide that the income shall be taxable in the State of residence (UAE)–the issue as to whether the services provided by the two UAE entities fall within the scope of professional services under Article 14 is irrelevant to the outcome of this case.
