Daily Archive: Wednesday, March 15, 2017

Disallowance us 14A(2)-AO need not resort to Rule 8D always. AO is entitled to invoke section 14A(2), Rules cannot prevail over the Act – ITAT

Author: | Categories: Income Tax, ITAT, Judgments No comments
Disallowance us 14A(2)-AO need not resort to Rule 8D always. AO is entitled to make disallowance u/s 14A(2), Rules cannot prevail over the Act – ITAT  ABCAUS Case Law Citation: ABCAUS 1172 (2017) (03) ITAT The Grievance: The assessee had challemged the order of the CIT invoking revisionary jurisdiction

 

Concealment penalty deleted when income was received by cheque after deducting TDS. ITAT accepts non disclosure as inadvertent

Author: | Categories: Income Tax, ITAT, Judgments No comments
Concealment penalty deleted when income was received by cheque after deducting TDS. ITAT accepts that non disclosure was inadvertent not willful.    ABCAUS Case Law Citation: ABCAUS 1171 (2017) (03) ITAT The Grievance: The appellant assessee had challenged the order of CIT(A) confirming the order of Assessing Officer (‘AO’)

 

Excise Classification of Saree after its further processing i.e. embroidery, lace stitching etc with two or more fabrics

Author: | Categories: Excise No comments
Excise Classification of Saree after its further processing such as embroidery, lace stitching etc with two or more fabrics Circular No. 1054/03/2017-CX F. No. 116/31/2016-CX.3 Government of India Ministry of Finance Department of Revenue Central Board of Excise and Customs New Delhi, dated the 15th March, 2017 To The

 

Procedure of PAN application through SPICe Form No INC-32 of Ministry of Corporate Affairs-CBDT Notification

Author: | Categories: Income Tax No comments
Procedure of PAN application through SPICe Form No INC-32 of Ministry of Corporate Affairs F. No. Pr.DGIT(S)Tech/e-Biz/2008-09/Part Government of India Ministry of Finance Central Board of Direct Taxes Directorate of Income-tax (Systems) Notification 2 of 2017 New Delhi 9th of March, 2017 Subject :- Procedure of PAN application through Simplified

 

NPAs shows declining trend-Main defaulter are few large corporates in steel, power, infrastructure & Textile Sector

Author: | Categories: Finance Ministry No comments
NPAs shows declining trend in last quarter of current financial year. Main defaulter are few large corporates in steel, power, infrastructure & Textile Sector Ministry of Finance Press Release (PIB) 15-March, 2017 FM: Rate of increase of Non Performing Assets (NPAs) has slowed down in the last Quarter of

 

Change of date of birth of Employees Pension Fund member to be approved by Officer lncharge of the concerned office

Author: | Categories: EPFO No comments
Change of date of birth of Employees Pension Fund member to be approved by Officer lncharge of the concerned office. Clarification by EPFO EMPLOYEES’ PROVIDENT FUND ORGANISATION Bhavishya Nidhi Bhawan, 14, Bhikaiji Cama Place, New Delhi 110 066. No.Pension-ll/instructions/Guidelines/2016-17/33314