Scam Commission Payment Is Allowable Deduction -HC

Rate of tax on Non-Dairy Whipp Topping under Delhi Value Added Tax, 2004? Posted: 06 May 2013 08:29 PM PDT After going through the various schedules appended with the DVAT Act and judgment passed in the case of M/s Rich Graviss Products Pvt. Ltd. vs. Commissioner, Commercial Taxes, U.P., Lucknow by Commercial Taxes, Tribunal, U.P., Lucknow (Full Bench), I am of the considered view that that item i.e.... Whether Patang Charkhi, Dor &amp' Manjha exempt from Tax under DVAT Act, 2004? Posted: 06 May 2013 08:24 PM PDT After going through the various schedules appended with the Delhi Value Added Tax Act, 2004, I am of the considered view that items Patang Dor, Patang Manjha and Patang Charkhi are not covered by any other entry of any other schedule appended to the said Act and hence is an unspecified items under... Scam Commission Payment Is Allowable Deduction -HC Posted: 06 May 2013 06:07 PM PDT The assessee has made payment for commission and has been rendered services in consideration of the same. As a matter of fact, it is not even revenue's case that no services have been rendered at all. The fact that services have been rendered by a party other than the agent to whom commission is... AO can invoke Rule 8D only when he records satisfaction in regard to the correctness of the claim of the assessee Posted: 06 May 2013 06:00 PM PDT Assessing 0fficer can invoke Rule 8D only when he records satisfaction in regard to the correctness of the claim of the assessee, having regard to the accounts of the assessee. The condition precedent for the Assessing 0fficer entering upon a determination of the amount of the expenditure incurred... Sec.54E does not make any distinction between depreciable assets & non-depreciable assets, Posted: 05 May 2013 08:33 PM PDT Following the decision of ACE Builders (P) 28 ITR 2000(Bom) and Assam Petroleum Industries Pvt Ltd 262 ITR 58 (Gau). It was held that Section 54E does not make any distinction between the depreciable assets and non-depreciable assets, therefore, the investment u/s 54E is a permissible investment....