Income Tax : Question - What is Krishi Kalyan Cess? Answer - An enabling provision is being made to levy Krishi Kalyan Cess on all taxable serv...
Goods and Services Tax : ♠ Input Tax Credit means credit of input tax. ♠ Every taxable person is entitled to take credit of input tax. ♠ Input tax me...
Goods and Services Tax : This act may be called the Integrated Goods and Services Tax Act, 2016. It extends to whole India. IGST applicable on all supplies...
Corporate Law : a cheque in the electronic form means a cheque drawn in electronic form by using any computer resource and signed in a secure sys...
Goods and Services Tax : This act may be called the Central GST Act, 2016 (CGST) / State GST Act, 2016 (SGST). It extends to the whole India. In case of SG...
Income Tax : Bombay High Court held that as per agreement, the deferred consideration is payable over a period of four years and the formula pr...
Income Tax : ITAT Mumbai held In the case of M/s. Rachana Finance & Investments Pvt. Ltd. & M/s. Repute Properties Pvt. Ltd. vs. CIT that in th...
Income Tax : It is held that Completed assessments can be interfered with by the AO while making the assessment under Section 153 A only on the...
Income Tax : Calcutta High Court held In the case of ADIT vs. Sh. Dhan Singh Sharma that clause 244A (1) (b) is residual in nature which prescr...
Income Tax : ITAT Mumbai held in the case of Hassan Ali Khan vs. DCIT that the assessee claiming that he has no bank account or based on transf...
Punjab and Haryana High Court held In the case of ADIT vs. Sh. Dhan Singh Sharma that ld counsel for the applicant admitted at the time of arguments that statement was re-started after some time on the same day.
ITAT Pune held In the case of M/s. D.J. Malpani vs. ACIT that in respect of the assessments which are completed prior to the date of search, no fresh claim of deduction can be made by the assessee. Therefore in the given case, assessee is not entitled to make a fresh claim in the return filed u/s.153A
ITAT Delhi held In the case of Hyundai Heavy Industries Co. Ltd. vs. ADIT that the said issue is already covered in favour of the assessee by tribunal decision given in earlier years in which the tribunal held that the contracts are divisible.
This act may be called the Integrated Goods and Services Tax Act, 2016. It extends to whole India. IGST applicable on all supplies of goods/services in the course of Inter-state trade or commerce. State includes Union Territory. However a supply of goods/services in the course of import in India shall be deemed to be an Inter-state supply. Supply of goods shall be deemed to take place in the course of Inter-state if the location of the supplier and the place of such supply are in different states.
a cheque in the electronic form means a cheque drawn in electronic form by using any computer resource and signed in a secure system with digital signature (with or without biometrics signature) and asymmetric crypto system or with electronic signature, as the case may be
ITAT Delhi held In the case of M/s. Mohair Investment and Trading Company (P) Ltd. vs. DCIT that it is clear that the present issue, related to application of section 14A, especially in relation to shares held as trading assets
ITAT Kolkata held In the case of UCO Bank vs. DCIT that Sec.115JB will be applicable only where the assessee is required to show profit & loss account in accordance with schedule VI of Companies Act. As the banks are required to prepare Balance Sheet and Profit & Loss Account in accordance
ITAT Kolkata held In case of ACIT vs. M/s Prem Lal Jain that no addition could be made u/s 69 as the entire investments in shares made by the assessee have been duly recorded in the books of accounts of the assessee which are part of the seized documents
ITAT Kolkata held In the case of ICI India Ltd. vs. DCIT that it is clear that liability towards leave encashment is a definite liability which has accrued and arisen during the year. However, payment of the same does not fall during the relevant previous year but under the mercantile system
ITAT Mumbai held In the case of Jayantilal Vaishnav HUF vs. JCIT that the reasonable cause u/s 273B need to be seen from the context of the situation where a person is reasonably and under bonafide belief of taking a action beyond his control i.e. cause which prevent a reasonable person in ordinary
