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Export of carpet under duty drawback-examination of carpets for composition, price determination, etc Circular No. 10/2017-Cus F. No. 609/24/2017-DBK Government of India Ministry of Finance Department of Revenue Central Board of Excise & Customs Drawback Division New Delhi, dated the 30th March, 2017 To All Principal Chief Commissioners …
Clause by clause analysis of GST Bills 2017 by the Institute of Cost Accountants of India (ICMAI) The Institute of Cost Accountants of India (ICMAI) has issued a clause by clause analysis of the following Bills: CGST Bill 2017, UTGST Bill 2017, IGST Bill 2017 and Presentation on …
Scholarship payment is charitable expenditure when candidate was selected by a process selecting most deserving one which was not related to members of the Society – Allahabad High Court ABCAUS Case Law Citation: ABCAUS 1192 (2017) (03) HC The Substantial Question of Law raised: Whether on the facts …
Addition for share application money not warranted if AO not disputed correctness of evidences furnished or not made any adverse comments – ITAT ABCAUS Case Law Citation: ABCAUS 1191 (2017) (03) ITAT The Grievance: The appellant assessee company was aggrieved by the order passed by the CIT(A) inter …
Reduction of loan waived from fixed assets actual cost-wdv u/s 43(6)(c) not required for calculating depreciation allowable under Income tax Act – ITAT In a recent judgment, ITAT Delhi has held that reduction of loan waived from fixed assets actual cost-wdv u/s 43(6)(c) not required for calculating depreciation …
Draft Guidelines for Advertisement by Company Secretary in Practice According to the guidelines, no Company Secretary or a firm of Company Secretaries is permitted to advertise for the services, except through a write-up or as additionally permitted. “write up” has been defined to include any writing or display …
Authentication of income tax e-notices. Name/office of authority to be printed on e-mail body or attachment – Rule 127A G.S.R. 283(E).- In exercise of the powers conferred by clause (d) and clause (e) of proviso to clause (5) of section 43 and section 282A read with section 295 …
Share premium not part of capital employed in the business of the company for claim of deduction u/s 35D as it is not specifically said so in Explanation -Supreme Court ABCAUS Case Law Citation: ABCAUS 1189 (2017) (03) SC The Question of Law: Whether “premium” collected by the …
No condonation of delay in IDS 2016 first instalment payment due to Personal emergency reasons, liquidity, confusion, rush at banks etc.- CBDT F.No. 225/86/2017-ITA.II Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes North Block, New Delhi, dated the 28th of March, 2017 …
Reopening us 147 after four years with Addl CIT approval bad. Notice u/s 148 was illegal as approval/satisfaction of CCIT/CIT was required u/s 151(1) – ITAT ABCAUS Case Law Citation: ABCAUS 1188 (2017) (03) ITAT The Ground of Appeal: The effective grounds contested by the assessee was that …
