Where all the factual facts are available on the records, the Tribunal couldn
Posted Date : 20-Dec-2014 , 02:17:54 pm | Posted By
CA Bimal Jain
Dear Professional Colleague, Where all the factual facts are available on the records, the Tribunal couldn’t remand back the case We are sharing with you an important judgment of the Hon’ble High Court, Bombay, in the case of L'Oreal India (Pvt.) Ltd. Vs. Union of India [(2014) 51 taxm...
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Category : Excise |
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Taxability of Provident Fund -Recognized, Unrecognized & Statutory
Posted Date : 19-Dec-2014 , 03:11:50 pm | Posted By
Vimmi
Section 10(11) and 10(12) of the Act deal with exemption on payments from provident funds, while section 80C of the act deals with allowance of deductions on contributions to provident funds. The following are the types of provident funds. Recognized Provident Fund (RPF): This scheme is applicable ...
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Category : Income Tax |
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0 | Hits : 843 |
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Extended period is not invocable, when penalties were waived off on the ground of interpretational issue being involved
Posted Date : 17-Dec-2014 , 11:25:13 am | Posted By
CA Bimal Jain
Dear Professional Colleague, Extended period is not invocable, when penalties were waived off on the ground of interpretational issue being involved We are sharing with you an important judgment of the Hon’ble CESTAT, New Delhi, in the case of Sankhla Udyog Vs. Commissioner of Central Excise...
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Category : Service Tax |
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0 | Hits : 238 |
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Changes in e-TDS/TCS RPU & FVU validations.
Posted Date : 17-Dec-2014 , 10:46:08 am | Posted By
CA GOURAV MURARKA
Dear Sir/Madam,
It is proposed to release new version of NSDL Return Preparation Utility (RPU) and File Validation Utility (FVU) incorporating the below features:
Features of NSDL RPU
· Allow update in field in Form no. 27Q “Whether TDS rate of TDS is IT act (a) and DTAA (b)&rdqu...
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Category : Income Tax |
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LACUNA IN SECTION 14A RULE 8D OF IT ACT 1961
Posted Date : 13-Dec-2014 , 10:07:45 am | Posted By
Hemant
LACUNA IN SECTION 14A AND RULE 8D OF IT ACT 1961
Allowance of expenditure incurred in relation to exempted income during the assessment or otherwise would be prejudicial to the revenue that’s why Section 14A was introduced by the Finance Act 2001 with retrospective effect from 1st April 1962 ...
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Category : Income Tax |
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Principal Manufacturer is entitled to avail Cenvat credit of duty paid by job worker on intermediate goods, who choose to pay duty instead of availing exemption
Posted Date : 10-Dec-2014 , 02:42:48 pm | Posted By
CA Bimal Jain
Dear Professional Colleague, Principal Manufacturer is entitled to avail Cenvat credit of duty paid by job worker on intermediate goods, who choose to pay duty instead of availing exemption We are sharing with you an important judgement of the Hon’ble CESTAT, Ahmedabad, in the case of Therma...
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Category : Excise |
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0 | Hits : 490 |
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Adjustment of excess Service tax paid, against tax payable in following months cannot be denied merely on the grounds of non-compliance of procedure
Posted Date : 09-Dec-2014 , 04:00:11 pm | Posted By
CA Bimal Jain
Dear Professional Colleague, Adjustment of excess Service tax paid, against tax payable in following months cannot be denied merely on the grounds of non-compliance of procedure We are sharing with you an important judgment of the Hon’ble CESTAT, New Delhi, in the case of Jubilant Organosys ...
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Category : Service Tax |
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0 | Hits : 423 |
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Minimum Recommended Scale Of Fees for the Professional Assignments Done by the Chartered Accountants
Posted Date : 09-Dec-2014 , 08:15:20 am | Posted By
CA.Khurana Vivek
Minimum Recommended Scale Of Fees for the Professional Assignments Done by the Chartered Accountants
...
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Category : ICAI |
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1 | Hits : 2692 |
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Any Stay Order passed by the Tribunal, if is in force beyond August 7, 2014, shall continue till disposal of appeals
Posted Date : 06-Dec-2014 , 05:19:17 pm | Posted By
CA Bimal Jain
Dear Professional Colleague, Any Stay Order passed by the Tribunal, if is in force beyond August 7, 2014, shall continue till disposal of appeals – No need for filing application for extension We are sharing with you an important judgement of the Hon’ble CESTAT, Ahmedabad, in the case ...
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Category : Excise |
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0 | Hits : 367 |
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Tribunal has no inherent power to put a condition for depositing an amount for adjudicating the case afresh
Posted Date : 05-Dec-2014 , 01:57:49 pm | Posted By
CA Bimal Jain
Dear Professional Colleague, Tribunal has no inherent power to put a condition for depositing an amount for adjudicating the case afresh We are sharing with you an important judgement of the Hon’ble High Court, Andhra Pradesh, in the case of Maa Mahamaya Industries Ltd. Vs. Commissioner of C...
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Category : Excise |
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0 | Hits : 2907 |
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Value of materials not includible in the value of services where the Agreement quantifies the value of materials separately from the value of services rendered
Posted Date : 04-Dec-2014 , 12:48:11 pm | Posted By
CA Bimal Jain
Dear Professional Colleague, Value of materials not includible in the value of services where the Agreement quantifies the value of materials separately from the value of services rendered We are sharing with you an important judgement of the Hon’ble High Court of Allahabad in the case of Co...
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Category : Service Tax |
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Inputs lost during manufacturing does not amount to receipt of Inputs in short quantity and accordingly whatever tax has been paid by Assessee on Inward Transportation service is entitled for Input Service credit
Posted Date : 03-Dec-2014 , 01:48:54 pm | Posted By
CA Bimal Jain
Dear Professional Colleague, Inputs lost during manufacturing does not amount to receipt of Inputs in short quantity and accordingly whatever tax has been paid by Assessee on Inward Transportation service is entitled for Input Service credit We are sharing with you an important judgement of the H...
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Category : Service Tax |
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0 | Hits : 3371 |
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Related Party Transaction,Section 188 of Companies Act,2013
Posted Date : 29-Nov-2014 , 11:12:23 am | Posted By
Utkarsh Gupta
Related Party Transaction,Section 188 enumerated 7 Transactions wherein the limits of the transaction is defined in Rule 15 of Companies(Board and its Meeting),Rules 2014 and the defination of related party defined in Section 2(76) and Definition of Relative is Defined in Section 2(77) read with Rul...
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Category : ICSI |
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0 | Hits : 3863 |
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Assessee is eligible for remission of duty in respect of goods cleared for export under bond but which were destroyed at port before same could be exported
Posted Date : 27-Nov-2014 , 02:19:18 pm | Posted By
CA Bimal Jain
Dear Professional Colleague, Assessee is eligible for remission of duty in respect of goods cleared for export under bond but which were destroyed at port before same could be exported We are sharing with you an important judgement of the Hon’ble CESTAT, Ahmedabad in the case of Honest Bio-V...
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Category : Excise |
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0 | Hits : 2935 |
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No Service tax is leviable on the amount of discounts/ incentives as these are not consideration for any service rendered
Posted Date : 27-Nov-2014 , 01:11:29 pm | Posted By
CA Bimal Jain
Dear Professional Colleague, No Service tax is leviable on the amount of discounts/ incentives as these are not consideration for any service rendered We are sharing with you an important judgment of the Hon’ble Mumbai CESTAT, in the case of Group M Media India Pvt. Ltd and Others Vs. Commis...
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Category : Service Tax |
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Department cannot adjust unconfirmed demand against refund payable to the Assessee
Posted Date : 26-Nov-2014 , 07:15:21 pm | Posted By
CA Bimal Jain
Dear Professional Colleague, Department cannot adjust unconfirmed demand against refund payable to the Assessee We are sharing with you an important judgement of the Hon’ble CESTAT, Delhi in the case of Bharat Sanchar Nigam Ltd. Vs. Commissioner of Central Excise, Jaipur [(2014) 51 taxmann.c...
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Category : Service Tax |
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0 | Hits : 385 |
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CPE Hours Requirements for CAs by ICAI for the block period of 3 years (1-1-2014 TO 31- 12-2016)
Posted Date : 24-Nov-2014 , 03:49:20 pm | Posted By
CA.Khurana Vivek
CPE HOURS REQUIREMENTS FOR THE BLOCK PERIOD OF 3 YEARS (1-1-2014 TO 31- 12-2016) TO BE COMPLIED WITH BY DIFFERENT CATEGORIES OF MEMBERS
A. All the members (aged less than 60 years) who are holding Certificate of Practice (except all those members who are residing abroad) are requi...
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Category : ICAI |
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1 | Hits : 8041 |
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LOOPHOLE IN SEC 139(2) NEEDS TO BE PLUGGED
Posted Date : 21-Nov-2014 , 10:38:04 pm | Posted By
Hemant
LOOPHOLE IN SECTION 139 OF THE COMPANIES ACT, 2013
The legislature in their wisdom decided to plug loopholes of the erstwhile Companies Act, 1956 by inclusion of various new provisions to prevent frauds in the Companies Act, 2013 which were not a part of the erstwhile Companies Act. The noble int...
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Category : Corporate Law |
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0 | Hits : 1033 |
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Cenvat credit of transferred unit cannot be denied when all assets and liabilities are transferred to Assessee
Posted Date : 21-Nov-2014 , 03:10:07 pm | Posted By
CA Bimal Jain
Dear Professional Colleague, Cenvat credit of transferred unit cannot be denied when all assets and liabilities are transferred to Assessee We are sharing with you an important judgement of the Hon’ble Mumbai CESTAT, in the case of Jai Corporation Ltd. Vs. CCE Vapi [2014 (11) TMI 29 - CESTA...
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Category : Excise |
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0 | Hits : 334 |
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Authorities to take expeditious steps to sanction refunds
Posted Date : 21-Nov-2014 , 03:06:07 pm | Posted By
CA Bimal Jain
Dear Professional Colleague, Authorities to take expeditious steps to sanction refunds – Order marked to the Finance Minister for consideration We are sharing with you an important judgement of the Hon’ble Mumbai CESTAT, in the case of Vodafone (I) Ltd. Vs. Commissioner of Service Tax,...
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Category : Service Tax |
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0 | Hits : 377 |
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