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...
It was held that wherein entire tax and interest has been duly paid well within the time limit for payment of notice of demand under section 156 and well before the penalty proceedings were concluded, the assessee could not be denied the immunity under section 271AAA (2) only because entire tax, along with interest, was not paid before filing of income tax return or, for that purpose, before concluding the assessment proceedings.
ITAT Hyderabad held In the case of M/s. OSI Systems Pvt. Ltd. vs. DCIT that it may be a fact that software development services is a very wide term and takes within its ambit, whole software development services.
ITAT Jaipur held In the case of ACIT vs. M/s Public Rose Shiksha Samiti that on verification of the total receipt mentioned by the Assessing Officer , there was a transaction of sale of land for Rs. 47,90,000/-. The Hon’ble Madras High Court has considered the issue of annual receipts
ITAT Jaipur held In the case of M/s. Gillette India Ltd. vs. ACIT that the services availed are intra-group services in the nature of Accounting and Financial Reporting Services, Employee services etc. . These are routinely outsourced by no. of companies in India and other countries because of their economic
Punjab & Haryana High Court held In the case of Principal CIT vs. M/s Mobisoft Tele Solutions Pvt. Ltd. that Tarun Mohan had obtained the copyright in respect of the artistic work comprised in the name phoneytunes.com. Registration of the copyright is, however, not compulsory.
ITAT Ahmedabad held In the case of M/s Indu Nissan Oxo Chemical Inds. Ltd. vs. DCIT that the Hon’ble Apex Court in the case of TRF Ltd. vs. CIT reported at (2010) 323 ITR 397(SC) has held that this position in law is well-settled. After 1st April, 1989
Punjab & Haryana High Court held In the case of The CIT Vs Bharat Bhushan held that no addition is sustainable where the purchases had been accounted for in the regular books of accounts maintained, duly audited and there is nothing to show that the quantity had been purchased and sold outside the books.
Punjab & Haryana High Court held In the case of The CIT vs. M/s H. M. Steels Ltd that on an analysis of section 80IC, it must be held that any industrial undertaking or enterprise would be entitled to deduction under sub-section (1) only to the extent of profits derived from such an industrial undertaking and not on account of any rebate or incentive made available to it by the Government.
Punjab & Haryana High Court held In the case of Subhash Chander vs. CIT that it is open for the AO to complete assessment either u/s 144 or u/s 143(3), in case compliance of notice has not been done by the assessee.
ITAT Pune held in the case The ACIT vs. M/s. Ambarwadikar & Co., Engineers & Contractors that It is clear that the bill raised by the assessee has been accepted by the department and for whatever reason some amount was not paid during F.Y. 2001-02 but the fact remains that there is no such dispute as claimed by the assessee.
