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Carried forward depreciation set off with short term capital gain u/s 50 is allowed – ITAT

Author: | Categories: Income Tax, ITAT, Judgments No comments
Carried forward depreciation set off with short term capital gain u/s 50 is allowed in view of the amended provisions of Section 32(2) wef 01-04-2002- ITAT ABCAUS Case Law Citation: ABCAUS 2035 (2017) (08) ITAT Assessment Year :  2012-13 Important Case Laws Cited/relied upon by the parties: M/s. Nandi

 

Advances converted into reserves not cessation of liability u/s 41(1). Pre-conditions / Tests to be applied

Author: | Categories: High Courts, Income Tax, Judgments No comments
Advances converted into reserves not cessation of liability u/s 41(1). Pre-conditions / Tests to be applied for applicability of the deeming provisions as laid by Supreme Court ABCAUS Case Law Citation: ABCAUS 2034 (2017) (08) HC Assessment Year :  2000-01 Important Case Laws Cited/relied upon by the parties: Commissioner

 

Tax Appeal to High Court-what constitutes Substantial Question of Law ?

Author: | Categories: Income Tax No comments
Tax Appeal to High Court-what constitutes Substantial Question of Law ?   The First Appellate Authority under the Income Tax Act, 1961 (the Act) is Commissioner of Income Tax (Appeals) [(CIT-A)]. The second appeal against the order passed by (FAA) lies to the Income Tax Appellate Tribunal (ITAT). Against

 

Last Date for Payment of Gst and Filing of Return for July 2017 Extended By 5 Days to 25th August 2017

Author: | Categories: GST No comments
Last Date for Payment of Gst and Filing of Return for July 2017 Extended By 5 Days to  25th August 2017 by the GST Implementation Committee Press Information Bureau  Government of India Ministry of Finance 19-August-2017 19:18 IST Last Date for Payment of Gst and Filing of Return For

 

GST Sectoral Series FAQ on IT-ITES containing 26 Questions and Answers by CBEC

Author: | Categories: GST No comments
GST Sectoral Series FAQ on IT-ITES containing 26 Questions & Answers by CBEC on queris related to GST on Information technology/IT enabled sectors GST Sectoral Series FAQ on IT-ITES  Question 1: Whether software is regarded as goods or services in GST? Answer: In terms of Schedule II of the CGST

 

GST SECTORAL SERIES FAQ- Gems and Jewellery containing 8 Questions & Answers

Author: | Categories: GST No comments
GST SECTORAL SERIES  FAQ- Gems and Jewellery GST SECTORAL SERIES  FAQ- Gems and Jewellery Question 1: Whether advertising and communication material (banners/hoardings/posters) provided to distributors would be treated as supply in the course of business by the company thereby not requiring any reversal of ITC. Answer: (a) Where the material is provided free

 

Draft Customs Brokers Licensing and Revocation Regulations 2017-CBEC

Author: | Categories: Custom No comments
Draft Customs Brokers Licensing and Revocation Regulations 2017 by CBEC. Customs Brokers shall be licensed by a written examination process Draft Customs Brokers Licensing and Revocation Regulations 2017 CBEC has issued  Draft  Customs Brokers Licensing and Revocation Regulations, 2017.  As per the Regulations, Customs Brokers shall be licensed and no person