Updates on ESIC, Direct Tax Code, Allowability of Depreciation etc

UPDATES FROM TAX GURU   Depreciation allowable even if asset not used at all for entire year: Mumbai High Court CIT vs. G. R. Shipping (Bombay High Court) :- The assessee, engaged in shipping business, owned a barge which was included in the block of assets. The barge met with an accident and sank on 6.3.2000 (AY 2000-01). As efforts to retrieve the barge... Govt Committed to Inclusive and Equitable Growth: FM "It is my pleasure to be here today at the 88th annual function of ASSOCHAM. As a representative body of Indian industry and enterprise, ASSOCHAM has always been at the forefront of pursuing ideas that empower Indian entrepreneurs. It has... Critical Areas on Direct Tax Code for Detailed Examination Identified: FM Finance Minister has announced that the Government has identified seven critical areas on the Direct Taxes Code for further detailed examination. At an interactive session with representatives of trade and industry from all over the country, here...   IMP Judgment by Supreme Court on Applicability of ESI Act, if not reviewed, can create havoc It appears that the appellant had issued a notice under Section 45A of the Employees State Insurance Act, 1948 (hereinafter for short 'the Act') for making employer's contribution towards the employee's state insurance. The respondent No. 1 Board... With Regards,  CA Sandeep Kanoi  Website: http://www.taxguru.in/  Get LEGAL & FINANCIAL UPDATES FROM TAX GURU delivered by emai

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