NEW PROCEDURE TO BE FOLLOWED FOR PASSING AND CANCELLATION OF UAO:- (1) The new system of automatic cancellation of UAO shall be applicable with effect from 1st August 2012. (2) With effect from 1st August 2012, assessing authority shall pass an UAO only through MAHAVIKAS. (3) MAHAVIKAS will automatically ascertain the return filing status for a particular period and in respect of a particular dealer vis-a-vis UAO. If, after mapping requisite criteria, it is noticed that the dealer has filed the return in respect of a particular period under UAO, then the MAHAVIKAS shall cancel the order of assessment so passed. There will be no need for the dealer to make an application in Form-304. As explained above, it will not be necessary to pass separate order for cancellation of UAO. An e-mail will be sent to the dealers e-mail ID provided by the Sales Tax Department. This e-mail will give information about the cancellation of UAO, The dealer may also access his e-mail at
Undisputedly, the assessee has filed original return under sub-section (1) of section 139. In the said return of income, the assessee has not claimed the loss. Sub-section (5) provides that where the assessee discovers any omission or a wrong statement, then he can file a revised return. Where the wrong statement or omission results in the claim of loss, when the return filed under section 139(5) is to be considered or not, is to be now seen. Whether omission of such a claim of loss in the original return of income is bona fide or not is also to be seen.
The owner of the industry shall issue serially cash/credit memos, for sales of finished goods which will contain name and address of the purchasers, descriptions of the goods sold and its value, exemption certificate number and date, signature of the seller.
It is not in dispute that amount of Rs. 1,95,26,116/- was spent for participating in Hannover Fair held in Germany and for such participation, Steering Committee under the chairmanship of Commerce Secretary was constituted and modalities of participation was decided by the Organizing Committee under the Chairmanship of Additional Secretary, Ministry of Commerce & Industry, and as stated, the entire control was with the Ministry.
Income Tax Department has enabled online submission of ITR-1 (SAHAJ), ITR-2 & ITR-4S (SUGAM), ITR 5, ITR 6. These software can be used to file Income Tax Return Online. Please note that from A.Y. 2012-13 E-filing has been made compulsory for the person who is an individual, or a Hindu Undivided Family, if his or its total income, or the total income in respect of which he is or it is assessable under the Act during the previous year, exceeds Rs 10 lakh for assessment year 2012-13 onwards.
ITR-1 SAHAJ, ITR 2, ITR 3, SUGAM (ITR-4S), ITR-4, I in excel, word and Pdf Format for A.Y. 2012-13 / Financial Year 2011-12. We have uploaded below ITR 1- Sahaj, ITR 2, ITR 3, ITR-4, SUGAM (ITR-4S), in Excel Word and Pdf Format applicable for Assessment year 2012-13 and Financial Year 2011-12.
The programme of professional education imparted by the assessee Institute in India is not in the nature of coaching or tuition. The Institute at London is an Institute established by a Royal Charter and recognized world-wide as the nodal agency of design, improving and controlling the profession of ship-broking. Ship-broking is recognised world over as the only profession engaged in dealing with all aspects of shipping industry.
High Court has no jurisdiction to entertain this appeal under section 35G of the Central Excise Act, 1944, as held by this Court in the case of CCE v. Mangalore Petrochemicals Ltd. in CEA No.6/2007 disposed of on 01.09.2010. The said question has to be adjudicated by the Apex Court under section 35L of the Central Excise Act, 1944. Hence, the appeal is not maintainable.
Section 54EC provides for exemption from tax on long-term capital gain when the capital gain arises from the transfer of long-term capital asset and the whole or any part of the said capital gain is invested in certain bonds within the period of 6 months. Section 54EC speaks of the actual capital gain which arises out of transfer of long-term capital asset and not deeming amount. Whereas section 50C provides for deeming fiction where value of consideration is adopted as per the stamp valuation authorities or any authority of the State Government. Even if the property has been sold at a lesser price but under the deeming fiction of section 50C, the value adopted by the stamp valuation authorities is to be taken as sale consideration.
Whether where assessee invested sale proceeds of tenancy rights in specified bonds, he was entitled to deduction under section 54EC even though his wife and daughters were co-holders of said bonds? Exemption Under Section 54F if Assessee claims two units as one he has to furnish Approved Municipal Plan.
