This appeal under Section 260A of Income Tax Act, 1961 (hereinafter referred to as the Act, 1961) has arisen from judgment and order dated 12.04.2017 passed by Income Tax Appellate Tribunal, Lucknow Bench A, Lucknow (hereinafter referred to as the Tribunal) in ITA No. 492/LKW/2016.
Assessee’s contention was that the entries were not in the nature of the loan or deposit on the face of it was not acceptable, as once any amount had been received by the assessee and the same was shown as received in its books of account, then it had partaken the nature of deposit and penal provision of section 271D was attracted.
Chartered Accountant Satish Kumar Gupta had resigned as Director of BLF before opening of the public issue of BLF irrespective of the fact that his resignation was allegedly accepted on 9.9.1997, in respect whereof no material was brought on record. Having resigned before the commencement of the public issue, his name could not have appeared […]
The short grievance in this petition is under the GST the petitioner has been registered as sole proprietor in place of a partnership firm. In the short counter affidavit filed on behalf of respondents no. 1 to 4 in paragraph 11 it has been stated that the Joint commissioner (IT) in the office of the […]
Hon’ble Allahabad High Court has in the case of Hariom Steels Pvt Ltd has held that penalty cannot be levied when deeming provisions are applied for assessing income.
HC directs the learned Senior Advocate for the petitioner to send WhatsApp message to the Chairman, Sri Anil Pratap Singh and Dr. Ram Jeet Singh Yadav, Secretary/the Election Officer on their mobile requesting them to appear before the Court today.
1. Whether ‘Regasified Liquefied Natural Gas’ i.e. ‘RLNG’, sold to revisionist by Gas Authority of India Ltd. i.e. ‘GAIL’ is ‘Compressed Natural Gas (CNG)’, so as to oust it from the purview of taxing Entry 8(a) of Schedule IV of Uttar Pradesh Value Added Tax Act, 2008, (hereinafter referred to as ‘Act’) is the question […]
Nature of the transaction made by the Petitioner with its tenant clearly amounts to renting of an immovable property for the purpose of business or commerce and is, therefore, clearly covered by Section 65(90a) of the Finance Act, 1994 and service tax is clearly livable thereon
Under section 145 of the Act, rejection of books of accounts is pre-requisite, where books of accounts have been maintained by the assessee, for making additions by the AO on account of estimation of profit.
What they believe to be information is a post circulated on WhatsApp platform or an alleged translation in a website. The alleged information is not claimed to be true to their knowledge. It is not even stated in the petition as to how the petitioners have formed a reasonable belief that the alleged post or the translation could be true or have any basis.
