TDS on Internet Charges /Leased line In the following judgement it was decided that the there is no TDS on Internet Charges /Leased line Assessment year 2007-08 Facts of the Case : Assessee was engaged in business of development of computer software . Issue :- Assessing Officer disallowed a certain sum under section 40(a)(ia) on… Read More »
E-biz launches composite application form for PAN, TAN, DIN and incorporation of company Joined Up Service NA – DIN – COI – PAN – TAN – ESIC – EPFO Description:- This joined up service enables the applicant to fill a common form for ‘MCA-Name, DIN and COI’, ‘CBDT-PAN, TAN’, ‘MoLE- ESIC and EPFO’ services and… Read More »
CBDT asks AOs to compare tax returns of mining Cos with annual returns to ascertain suppressed stock
GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF REVENUE OFFICE OF THE COMMISSIONER OF CENTRAL EXCISE, CHENNAI – I COMMISSIONERATE 600034 26/1, MAHATMA GANDHI MARG, CHENNAI- 600 034 ___________________ TRADE NOTICE NO: 04/2015 Dated : 10.06.15 Sub :- Introduction of facility of payment of rebate / refund claims amount directly to the assessee / exporters’… Read More »
Facts of the Case :- Assessee purchased a piece of land used for rubber plantation .Subsequently, assessee sold said property through a broker. Assessee claimed that property sold was an agricultural land and, hence, profit arising on its sale was exempt from tax . Assessing Officer found that nature of property at time of registration… Read More »
Where material was collected by Assessing Officer during course of survey, and not during search proceedings, Tribunal was justified in setting aside assessment made under section 158BC HIGH COURT OF GUJARAT Commissioner of Income-tax v. Parmar Builders & Developers M.R. SHAH AND S.H. VORA, JJ. TAX APPEAL NOS.112 & 113 OF 2015 APRIL 8, 2015… Read More »
Issue :-Assessee raised a plea that date on which notice was issued, Assessing Officer was not in possession of original return and, therefore, he could not have issued notice seeking to re-open assessment Held : issue being in relation to notice under section 148, which went to root of matter, matter was to be remanded… Read More »
A company is engaged in trading of fast moving consumable goods. It has invested more than 50% of its net worth in the shares of other companies. Dividend income on those investments constitutes a significant portion of the total income of the company. The company has not disclosed its accounting policy regarding those investments and… Read More »
Dealers of SIM Cards /Recharge vouchers cannot be regarded as recipients of telecom services provided by telecom companies; hence, said dealers cannot take input service credit of service tax paid by telecom companies CESTAT, NEW DELHI BENCH Omar Agencies (Hutch) v. Commissioner of Central Excise, Allahabad JUSTICE G. RAGHURAM, PRESIDENT AND R.K. SINGH, TECHNICAL MEMBER… Read More »
Issue Assessee manufactured ‘Nizral Shampoo’ containing 2 per cent Ketoconazole and classified same as ‘medicament’ under Heading 3003.10 (duty 16 per cent) . Department argued that it was a mere normal shampoo and ‘preparation for use on hair’ and therefore, liable to duty at 24 per cent under Heading 3305.99 HELD : Product was classifiable… Read More »