15% deduction for CPWD and State PWD rate variation allowable when AO estimated the cost of building construction based on the report of the valuation cell. This was stated by ITAT Visakhapatnam in a recent judgment as under: Case Law Details: I.T.A.No.430/Vizag/2014 Assessment Year: 2007-08 B. Madhusudhana Reddy vs. ACIT Date …
The Word record us 154 include all records available with AO. Rectification of Mistake not confined to mere clerical or arithmetical mistake. Meaning of the word “record” was clarified by ITAT Visakhapatnam in a recent judgment as under: Case Law Details: ITA No.727/Vizag/2013 Assessment Year: 2008-09 M/s. Y.V.R. & …
No Violation us 269SS-loan accepted passing journal entries. When the loan is accepted by acknowledgement of debt by passing journal entries in the books of accounts it cannot be considered as acceptance of loan in violation of the provisions of section 269SS of the Act, consequently, no penalty …
EVC of e-returns from AY 2009-10 to 2014-15 pending due to non-receipt of ITR-V at CPC latest by 31-08-2016-CBDT Notification-13/2016 CIRCULAR NO 13/2016 GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF REVENUE CENTRAL BOARD OF DIRECT TAXES New Delhi, 9th May, 2016 Subject:- Verification of tax-returns for Assessment …
Transparent labour inspection scheme-Revamp of System in Labour, Mines Safety, EPFO and ESIC Ministry of Labour and Employment-Press Release dated 06-05-2016 In order to bring transparency and accountability in the enforcement of labour laws, Ministry of Labour & Employment has formulated a Transparent labour inspection scheme in central …
Duty Drawback Scheme Re-export examination report on shipping bill to be separate, self-contained and explicit on identity and use Circular No. 16/2016-Customs F.No. 603/01/2016-DBK Government of India Ministry of Finance, Department of Revenue Central Board of Excise & Customs New Delhi, dated 9th May, 2016 To Principal Chief …
