Share sold through Stock Exchange are not Sham Transactions The transactions were carried through Demat account and banking channel on which STT has been paid by assessee. The report of the SEBI was not adverse in nature against the assessee because name of the assessee did not appear therein for conducting dubious transaction. The report… Read More »
HIGH COURT OF GUJARAT Arun Munshaw HUF v. Income-tax Officer, Ward 7(1) J.B. PARDIWALA AND BHARGAV D. KARIA, JJ. R/TAX APPEAL NO. 1091 OF 2008 JANUARY 13, 2020 Mrs. Swati Soparkar and B.S. Soparkar for the Appellant. Mrs. Mauna M Bhatt for the Respondent. JUDGMENT J.B. Pardiwala, J. – This Tax Appeal under Section 260A of the Income-tax Act, 1961 (for… Read More »
Deemed approval of Trust Registration The Tribunal held that once the limitation prescribed under section 12AA of the Act expired and the consequential default on the part of the CIT(E) in deciding the application would result deemed grant of registration is a settled proposition. Therefore, it has been held by the Tribunal that the judgment… Read More »
Additional evidence Before ITAT HIGH COURT OF BOMBAY Braganza Construction (P.) Ltd. v. Assistant Commissioner of Income-tax, Circle-2(1), Panaji M.S. SONAK AND C.V. BHADANG, JJ. TAX APPEAL NO. 47 OF 2012 DECEMBER 6, 2019 S.R. Rivankar and Rama Rivankar, Advs. for the Appellant. Ms. Susan Linhares, Standing Counsel for the Respondent. JUDGMENT M.S. Sonak, J. – Heard Mr. Rivankar, the learned Counsel for… Read More »
Govt. notifies interest rate for Small Savings Schemes on quarterly basis with the approval of Finance Minister. The rate of interest first quarter of Financial Year 2020-21 have been announced wherein Govt. has reduced interest rate on various small savings schemes. vide F.No 1/4/2019 NS Dated 31.03.2020
RBI gives relief to Exporters I Export proceeds realization I CA Satbir Singh
RBI announces further measures for dealing with the COVID-19 pandemic Date : Apr 01, 2020 1. Extension of realisation period of export proceeds Presently value of the goods or software exports made by the exporters is required to be realized fully and repatriated to the country within a period of 9 months from the date of… Read More »
Ministry of Home Affairs Jammu and Kashmir Reorganisation (Adaptation of State Laws) Order, 2020 Posted On: 01 APR 2020 11:45AM by PIB Delhi Union Ministry for Home Affairs (MHA) has issued an order for adaptation and modification of State Laws specific to the erstwhile State of Jammu and Kashmir, to further facilitate the application of… Read More »
SUPREME COURT OF INDIA Principal Commissioner of Income-tax v. Nitrex Chemicals India Ltd. A. M. KHANWILKAR, HEMANT GUPTA AND DINESH MAHESHWARI, JJ. SLP TO APPEAL (C) NO. 13576 OF 2017 JANUARY 22, 2020 Arijit Prasad, Sr. Adv., Syed Abdul Haseeb, Adv., Mrs. Anil Katiyar, AOR and B.V. Balaram Das, AOR for the Petitioner. Venketesh Chaurasia, Adv. and Jay Kishor Singh, AOR for the Respondent. ORDER… Read More »
The position in the current case is that the liability had already arisen with certainty. The committee was constituted for the purpose of wage revision. That the wages would be revised was a foregone conclusion. Merely because the making of the report and implementation thereof took time, it could not be said that there was… Read More »