{"id":527,"date":"2015-11-02T10:07:02","date_gmt":"2015-11-02T10:07:02","guid":{"rendered":"http:\/\/carajput.com\/blog\/?p=527"},"modified":"2021-12-15T13:11:25","modified_gmt":"2021-12-15T07:41:25","slug":"corporate-tax-update-for-the-month-of-october","status":"publish","type":"post","link":"https:\/\/carajput.com\/blog\/corporate-tax-update-for-the-month-of-october\/","title":{"rendered":"corporate tax update for 23th october 2015"},"content":{"rendered":"

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CORPORATE TAX UPDATE FOR 23th OCTOBER 2015<\/strong><\/span><\/h2>\n

UPDATES<\/span><\/strong><\/span><\/p>\n

1. IT<\/a> :<\/strong> <\/span>Payment made to retiring partner above his capital for acquiring commercial rights is depreciable as goodwill<\/p>\n

IT<\/a> :<\/strong> <\/span>Where expenses claimed by assessee were not fully supported by vouchers and bills and some of bills\/vouchers were self-made and not in chronological order, disallowance of one-fifth of expenses was proper[2015] 61\u00a0taxmann.com\u00a0296 (Ahmedabad – Trib.)\u00a0<\/span><\/strong>Swastik Industries v. ITO<\/span><\/strong><\/p>\n

2. Sec. 54F:<\/strong> <\/span>Mother can\u2019t be deemed as owner of house purchased by minor-daughter out of her own income<\/a>\u00a0[2015] 62\u00a0taxmann.com\u00a064 (Hyderabad – Trib.)<\/span><\/strong>
\nSmt. S. Uma Devi v. CIT<\/p>\n

3. ST:<\/strong> <\/span>Refund of service tax<\/a> is to be claimed within one year from date of payment of service tax to service provider, and not from date of advance payment[2015] 62\u00a0taxmann.com\u00a049 (Mumbai – CESTAT)\u00a0Commissioner of Central Excise & Customs v. Indiabulls Realtech Ltd.<\/span><\/strong><\/p>\n

4. IT :<\/strong><\/span> Where assessee used trucks in contract business and could not furnish truck-wise details of huge freight and carriage expenses which were debited against contract income in profit and loss account in respect of said trucks, books of account was to be rejected\u00a0[2015] 62\u00a0taxmann.com\u00a0158 (Himachal Pradesh)\u00a0CIT v. Rakesh Mahajan<\/strong><\/span><\/p>\n

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances; Hope the information will assist you in your Professional\u00a0endeavors. For query or help, contact:\u00a0singh@carajput.com<\/a>\u00a0\u00a0or call at 9555555480<\/p>\n

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CORPORATE TAX UPDATE FOR 23th OCTOBER 2015 UPDATES 1. IT : Payment made to retiring partner above his capital for acquiring commercial rights is depreciable as goodwill IT : Where expenses claimed by assessee were not fully supported by vouchers and bills and some of bills\/vouchers were self-made and not in chronological order, disallowance of …<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9933],"tags":[3679,3678,2499],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/527"}],"collection":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/comments?post=527"}],"version-history":[{"count":5,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/527\/revisions"}],"predecessor-version":[{"id":19863,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/527\/revisions\/19863"}],"wp:attachment":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/media?parent=527"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/categories?post=527"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/tags?post=527"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}