In the case in hand, it is not in dispute that the assessee had income of interest through FDRs and while setting off that the Assessing Officer as well as the ITAT did not examine the aspect as to under which provision the assessee claimed deduction or set off his income from other sources against […]
Where AO allowed set off of interest earned on fixed deposits against interest payable on borrowings then such allowance was erroneous and prejudicial to revenue, therefore, CIT rightly invoked revisionary jurisdiction.
Commission felt that DoP&T and Department of Posts necessarily need to coordinate and initiate steps to introduce RTI stamps or numbered RTI coupons to eliminate prevailing ambiguity with regard to Rule 06 of the RTI Rules, 2012, on the mode of payment of RTI Fee keeping in view the experience in handling similar issues on a day to day basis.
Another reason given by the High Court was that no application was made within 180 days of application of the notification dated 27.02.1992 or even from the dateof installation of generating sets i.e.August 1995. Even if the second reason given by the High Court is ignored, nonfulfillment of condition no.(a) of notification dated 27.02.1992 clearly entailed rejection of claim under notification dated 27.02.1992.There is no foundation or basis laid down even in this appeal to assail the finding recorded by the High Court that generating set was not purchased from 01.01.1991 to 31.12.1992.
It has been noticed and found by the Amicus Curiae as well as the Special Audit Authority led by Shri Vinod Rai that Gold, Silver and other valuable artefacts and jewels of the Shri Padmanabhaswamy Temple have gone missing over the years.
Circular No. 35 issued by Board clearly states the losses arising due to negligence of employees has to be allowed as expense if the loss took place in the normal course of the business and the amount involved was necessarily kept for the purpose of business. In the present case, the losses were necessarily incurred in the normal course of business of assessee and therefore, the expenditure was allowable.
One of the classic controversies, lasting for more than a decade, is disallowance for non-deduction/payment of TDS on domestic payments u/s 40a(ia).
Appellant has been held liable as assessee in default merely due to technical flaws. Demand has been raised merely due to fault of system and in view of the CBDT’s Instruction No.5/2013 dated 08.07.2013, the demand cannot be sustained.
Section 40(a)(ia) covers not only those cases where the amount is payable but also when it is paid. In this behalf, one has to keep in mind the purpose with which Section 40 was enacted and that has already been noted above.
The Corporation authorities have contended that, they have a policy guidelines of display of advertisement within the Kolkata Metropolitan area. Under such policy guidelines, the authorities are to look at the desirability of the content of the advertisement in the hoardings or glow signs. They are also to look at whether the hoardings or glow […]
