CORPORATE AND PROFESSIONAL UPDATE
CORPORATE AND PROFESSIONAL UPDATE Direct Tax: ITAT Jaipur held that deduction u/s. 54 can be claimed for house purchase in wife’s name. Shri Radhey Shyam Arora …
Category: Direct Tax
NEWS SNIPPETS – 11th Dec 2017
Economic Times- Business Standard Bankers stare at Rs 1 lakh crore bad loan bomb ready to explode in next 2 days Satyam case: SC dismisses ED plea against TechM Largest automated container terminal opens in China Insolvency: IBBI notifies rules for complaint handling India to seek solution to food stock issue at WTO Firms, lenders …
corporate and professional update september 23rd 2017
CORPORATE AND PROFESSIONAL UPDATE SEPTEMBER 23rd 2017 DIRECT TAX Delhi ITAT allows deduction u/s 10B to assessee [(operating an Export Oriented Unit (EOU)] for AY 2010-11 and AY 2011-12 in respect of duty drawback receipts forming part of EOU’s profits, ITAT holds that manner of computing profits u/s 10B(4) does not require direct nexus with business …
corporate and professional update september 22nd 2017
CORPORATE AND PROFESSIONAL UPDATE SEPTEMBER 22nd 2017 DIRECT TAX UPDATES: ITAT Kolkata held that without rejecting the books of account, the ad hoc disallowance made is not sustainable in the eyes of law especially when Assessee has maintained books of account with supporting. Pioneer Himudyog P. Ltd. Vs Assistant Commissioner of Income-tax (ITAT Kolkata) ITAT Bangalore …
CORPORATE AND PROFESSIONAL UPDATE SEPTEMBER 22nd 2017
CORPORATE AND PROFESSIONAL UPDATE SEPTEMBER 22nd 2017 DIRECT TAX UPDATES: ITAT Kolkata held that without rejecting the books of account, the ad hoc disallowance made is not sustainable in the eyes of law especially when Assessee has maintained books of account with supporting. Pioneer Himudyog P. Ltd. Vs Assistant Commissioner of Income-tax (ITAT Kolkata) ITAT Bangalore …
CORPORATE AND PROFESSIONAL UPDATE
CORPORATE AND PROFESSIONAL UPDATE 11 Sep 2017 Direct Tax: SC sets-aside HC order, holds HC was not justified in allowing the appeals filed by Revenue u/s. 27A of the Wealth tax Act without formulating ‘substantial questions of law. [TS-375-SC-2017] Punjab and Haryana high court held that if assessee has not filed income tax returns in …
CORPORATE AND PROFESSIONAL UPDATE August, 28 2017
CORPORATE AND PROFESSIONAL UPDATE August, 28 2017 Direct Tax: CESTAT held that data retrieved from CAs cannot be used as incriminating material against assessee. Shri. Mahalaxmi Distilleries Vs CCE (CESTAT Chandigarh) Indirect Tax: Allahabad high court held that GST return and deposit of tax thereon provided the returns and the tax is deposited within two weeks of …
SAC CODES FOR LEGAL AND ACCOUNTING SERVICES
SAC CODES FOR GST Heading no. 9982 Legal and accounting services Group 99821 Legal services 998212 Legal advisory and representation services concerning other fields of law. 998213 Legal documentation and certification services concerning patents, copyrights and other intellectual property rights. 998214 Legal documentation and certification services concerning …
corporate and professional update july 25, 2017
CORPORATE AND PROFESSIONAL UPDATE July 25, 2017 Direct Tax: ITAT Delhi held that no interest in late TDS payment due to system/connectivity issues at bankers. (Asstt.Commissioner of Income Tax Vs M/s. Nokia Siemens Networks (P) Ltd. (ITAT Delhi) Gujarat High court held that the Assessing Officer may proceed further with re-assessment proceeding beyond six years, …
corporate and professional update july 24, 2017
CORPORATE AND PROFESSIONAL UPDATE July 24, 2017 Direct Tax: CBDT has clarified that, where the recipient of service is required to deduct TDS when making a payment to the supplier, the amount of TDS shall be computed without grossing up for the GST component, which is also part of the bill. ITAT Bangalore held …