Creditors not barred by limitation if liability acknowledged in accounts, creditors can rely on the said acknowledgment-High Court ABCAUS Case Law Citation: ABCAUS 2185 (2018) (01) HC Brief Facts of the Case: The assessee, during the course of the assessment proceedings had furnished details of the creditors. …
GST data reveals 50 percent increase in number of Indirect Taxpayers as per Economic Survey 2017-18. Bird’s-Eye View of the Indian Economy through the GST Economic Survey 2017-18 has revelaed that Maharashtra, Gujarat, Karnataka, Tamil Nadu & Telangana account for 70% of India’s exports India’s internal trade in …
Economic Survey 2017-18 draws Attention to 10 New Economic Facts on Indian Economy The Economic Survey 201-18 has been presented by the Union Finance Minister Shri Arun Jaitley in Parliament today. The Finance Minister has relied upon analysis of the new data to highlight ten new economic facts as under: Goods …
GST Compensation cess removed on used/second hand cars. Cess The Goods and Services Tax (GST) council, in its 25th meeting held on on January 18, 2018 reduced GST rates on used vehicles and compensation cess was completely removed on used/second hand cars. GOVERNMENT OF INDIA MINISTRY OF …
The High Court explains the law on levy of interest u/s 234B(3) when reassessment is done determing escaped income after issue of refund. Prelude: Section 234B(3) of the Income Tax Act, 1961 (the Act) provides for levy of interest where a reassessment or re-computation under Section 147 or …
Exempted income can not be taxed even if no revised return filed. AO in proceedings u/s 143 can not refuse to grant relief on such technical plea – High Court ABCAUS Case Law Citation: ABCAUS 2183 (2018) (01) HC Important Case Laws Cited/relied upon by the parties: Goetze …
