• Income Tax

2D/3D seismic survey activity carried by assessee in connection with oil exploration was not fees for technical services u/s 9(1)(vii) but liable u/s 44BB

10 years ago

In a latest judgment, the Delhi High Court has held that activity of 2D/3D seismic survey carried on by assessee in…

  • Excise/Custom

CBEC-Revised procedures to deal with revenue audit objections of CAG to prevent it mature into Audit Paragrap/report

10 years ago

Circular No. 1023/11/2016-CX Government of India Ministry   of   Finance Department   of   Revenue (Central Board of Excise & Customs) New Delhi,…

  • Income Tax

CBDT specifies procedure for online registration, submission of Form 61B u/s 285BA by reporting financial institutions

10 years ago

Government of India Ministry of Finance Central Board of Direct Taxes Directorate of Income Tax (Systems) Notification No 4/2016 New…

  • Income Tax

There is a difference in “facts not proved” and “facts disproved” and penalty u/s 271(1)(c) can be levied only for the latter

10 years ago

In a latest judgment, ITAT Chennai has quashed penalty proceedings u/s 271(1)(c) for concealment holding that  there is a difference…

  • Finance Ministry

Dearness Allowance payable to Central Government employees enhanced from existing rate of 119% to 125% from 1st January, 2016

10 years ago

No. 1/1/2016-E·II (B) Government of India Ministry of Finance Department of Expenditure ***** North Block, New Delhi Dated the  7th…

  • Income Tax

CBDT order rejecting TDS refund on penal interest treating it non-exempt u/s 10(15)(iv)(c) quashed

10 years ago

In a latest judgment, Delhi High Court has quashed CBDT order rejecting refund of TDS deducted on penal interest treating it non-exempt…

  • Income Tax

Set off of business loss from unexplained cash credits u/s 68 not permissible in view of combined reading of sections 71 , 72 and 32(2).

10 years ago

In a latest judgment, ITAT Chennai has upheld that allowing set off of business loss from the unexplained cash credits…

  • Income Tax

Additional depreciation us 32(1)(iia)-There is no provision for postponement or carry forward to next financial year

10 years ago

In a recent judgment, ITAT Chennai has held that the assessee is not entitled to additional depreciation u/s.32(1)(iia) of the…

  • Companies Act

Financial Statements Formats for companies required to comply with IndAS-Amendment to Schedule-III

10 years ago

MCA Notification-Format of financial statements for a company whose financial statements are drawn as per Companies (Indian Accounting Standards) Rules, 2015. MINISTRY…

  • Income Tax

Merely because an income has been taxed in recipient’s hand it does not become deductible expenditure but as per Law

10 years ago

In a recent judgment, ITAT Mumbai has opined that merely because an income has been taxed in the hands of…