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...
Question of reassessment arises only when there is an assessment in the first instance i.e. no reassessment is possible without original assessment order passed. The High Court has wrongly not acted upon the ratio laid down in Trustees of H.E.H.
ITAT Lucknow held in the case of M/s Juhi Alloys Pvt. Ltd. vs. CIT that since enquiry was made by the Assessing Officer on all the points on which objection had been raised by CIT in the notice issued by him u/s 263, this is not a case of lack of enquiry by the Assessing Officer or lack of application of mind by the Assessing Officer because on all the issues, query was raised by the Assessing Officer and replies were submitted by the assessee
On account of some unavoidable reasons of the death in the family of the counsel of the appellant, the concerned counsel was unable to represent the appellant on the relevant date. The fact that there was a death in the family of the counsel of the appellant is not disputed by the learned Counsel appearing for the respondent.
The assessee cannot be said to have paid the consideration for use of or the right to use copyright but has simply purchased the copyrighted work embedded in the CD- ROM which can be said to be sale of ‘good’ by the owner.
ITAT Amritsar held in the case of DCIT vs. All India Pingalwara Charitable Society that object of section 115BBC was to catch the unaccounted money which was brought in as Tax Free Income in the hands of the Charitable Trusts and this law was never meant for taxing the Petty Charities.
Delhi High Court held In the case of Denso India Limited vs. CIT that there can be no dispute that the AO would normally accept the figures given in TP report, if they do not call for his interference. However, his job also extends to critically evaluating materials and in cases which do require scrutiny, go ahead and do so.
Bombay High Court held In the case of M/s. Bayer Material Science Pvt. Ltd. vs. DCIT that the draft Assessment order was passed on 30th March, 2015 without having disposed of the Assessee’s objections to the reasons recorded in support of the impugned notice.
It remains undisputed that in the reasons recorded by the AO, there is no allegation, much less any specific one, regarding any alleged failure on the part of the assessee to disclose fully and truly all material facts necessary for his assessment.
Delhi High Court held In the case of ANZ Grindlays Bank Ltd. vs. DCIT that absence of a provision similar to sec. 40(a) (i) does not mean that the Assessee would also be disentitled to claim deduction on account of salaries in the year to which such expenses pertained even though
A plain reading of the power of attorney, makes it clears that the powers given therein are liaison office specific. The AO’s conclusion that the power of attorney granted unfettered powers to its liaison office’s employee, to do all or any acts for and on behalf of the assessee, is incorrect.
