The Hon’ble Supreme Court in the case of CIT Vs. Raja Benoy Kumar Sahas Roy (1957) [32 ITR 466] held that, income derived from some measure of cultivation of land with some expenditure of human skill and labour, renders the profit derived from the ‘product’ agriculture income which would be exempt u/s. 2(1A) of the… Read More »
HIGH COURT OF ALLAHABAD Anil Kumar & Sons v. Union of India BHARATI SAPRU AND PIYUSH AGARWAL, JJ. WRIT TAX NO. 221 OF 2019 FEBRUARY 22, 2019 Vishwjit for the Petitioner. Ramesh Chandra Shukla for the Respondent. ORDER 1. Heard Sri Vishwjit, learned counsel for the petitioner, Sri O.P. Srivastava, learned Counsel for the respondents no.1, 2 & 3, and Shri… Read More »
Facility to view Form 2 Declaration filed with DPIIT by startup available in Income tax e-Filing portal CBDT has enabled Facility to view Form 2 Declaration filed with DPIIT (Department for Promotion of Industry and Internal Trade) by a startup on its e-filing portal. Form 2 (Section 56 Exemption declaration) is a Declaration by a Startup… Read More »
we find that the penalty was initiated on account of loss claimed by the appellant on sale of assets, even though, that particular block of assets had not been exhausted. We do not find any justification to discard the findings reached by the ld. CIT(A) that the assessee had duly disclosed the loss on sale… Read More »
Issue : The Assessing Officer after going through the balance sheet of the assessee noticed that assessee has shown liability of Rs. 75,82,362/- as payable to M/s. Camy Plant, the assessee was required to furnish the confirmations from the creditors , on Non submission it was treated as cessation of liability u/s. 41(1) of the… Read More »
Can you use ITC to pay wrong ITC ? गलत आईटीसी का भुगतान करने के लिए आईटीसी का उपयोग Related post How to Claim Excess ITC of GSTR 2A New Auto Reconciliation of Input Tax Credit on GST Portal How to Reverse Incorrect Input Tax Credit ? How to Claim Missed Input Tax Credit of… Read More »
we uphold the impugned order of the ld. CIT(Appeals) allowing the deduction claimed by the assessee on account of software licence fees paid to M/s. Wipro Limited. DCIT Vs Lovelock & Lewes ITAT (ITAT Kolkata) I.T.A. Nos. 1020 & 1021/KOL/2017 Date of Judgement/Order : 08/03/2019 Related Assessment Year : 2007-2008 & 2010-2011 Courts : All ITAT (5824) ITAT… Read More »
Goods that moved from outside Delhi for execution of the works contract are interstate sale and as such cannot be taxed under the Delhi Sales Tax on Works Contract Act, 1999. This Court is of the opinion that the appreciation of the law by the Tribunal in this case is sound and unexceptionable. The placement… Read More »
EPFO to provide calculation sheet to subscribers at the time of Provident Fund withdrawal on registered mobile number or the Email ID provided in the claim In order to increase transparency in respect of provident fund settlement withdrawal and to reduce the confusion & grievances of the subscribers, the EPFO has decided to provide the… Read More »
Government of India has introduced a pension scheme for unorganised workers namely Pradhan Mantri Shram Yogi Maan-dhan (PM-SYM) to ensure old age protection for Unorganised Workers. The unorganised workers mostly engaged as home based workers, street vendors, mid-day meal workers, head loaders, brick kiln workers, cobblers, rag pickers, domestic workers, washer men, rickshaw pullers, landless labourers, own… Read More »