The employer i.e. ONGC has paid fringe benefit u/s 115WA of the Act to the employee and thus, the employee was not bound to pay tax on the aforementioned expenses, as a part of his salary.
In a recent judgment dated 22.09.2016, rendered in the case of State of Gujarat v/s Bharat Pest Control, the Gujarat High Court has held that pesticides and chemicals used in pest control service cannot be subjected to value added tax.
The Commissioner by an order dated 15.3.2000 allowed some of the grounds of appeal. Thus, the order of the Assessing Officer stood merged with the order of Commissioner (Appeals) and had no independent existence of its own and as such the assessment could not have been reopened in respect of the said items.
Under section 153A of the Act, an assessment has to be made in relation to the search or requisition, namely, in relation to material disclosed during the search or requisition. If in relation to any assessment year, no incriminating material is found, no addition or disallowance can be made
hen a claim was processed at length and after calling for detailed explanation from the assessee, the same was accepted, merely because a certain element or angle was not in the mind of the Assessing Officer while accepting such a claim, cannot be a ground for issuing notice for reassessment.
High Court held that once the approval is granted by the prescribed authority and such approval is valid, it would no longer be open for the Assessing Officer to verify the satisfaction of the conditions prescribed under rule 18DA in order to refuse deduction under subsection(8A) of section 80IB of the Act.
Kaneria Granito Ltd Vs ACIT (Gujarat High Court) In this case, admittedly, all the three bank accounts were in the nature of either the cash credit account or term loan account. In other words, the accounts were opened to enable the assessee to borrow the money from the bank for the purpose of its business. […]
Honble Gujarat High Court has vide its order dated 30th March, 2016 in the case of Percy Cawas Kavina vs. UOI in Special Civil Application No. 4926 of 2016 directed an ad-interim stay of Notification No. 18/2016-ST Dated 01/03/2016and Notification No. 9/2016–ST Dated-01/03/2016 with respect to the levy of service-tax on senior advocates as proposed
Whether the ITAT was right in treating the payments made to retiring partners in the nature of compensation can be termed as goodwill and subsequently eligible for depreciation?
Gujarat High Court held In the case of Tata Teleservices vs. Union of India that while amending section 201 by Finance Act, 2014, it has been specifically mentioned that the same shall be applicable w.e.f. 1/10/2014 and even considering the fact that proceedings for F.Y. 2007-08
