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May 20, 2013

Some thoughts on LBT Agitation in Maharashtra

Some thoughts on LBT Agitation in Maharashtra

Posted: 19 May 2013 07:22 PM PDT

Traders in cities from Maharashtra are rightfully agitating over proposed introduction of LBT because of their concerns about multiplicity of indirect taxes and related compliances.

S. 80IB Ginning and pressing of cotton amounts to manufacturing activity

Posted: 19 May 2013 12:23 PM PDT

The nature of processing of loose cotton into cotton bales after   sprinkling   water and mechanically pressing the same is similar to processing camphor powder into camphor cubes. Loose cotton in bulk quantity with lighter density is as a result of pressing converted intocotton bales and to that...

Commission paid to related parties for services rendered by them is allowable expenditure

Posted: 19 May 2013 12:13 PM PDT

Question No.(i) pertains to addition of Rs.33.33 lakhs (rounded off) made by the Assessing Officer towards the commission paid to related parties. The Assessing Officer made such addition despite the assessee pointing out that the parties to whom such commissions were paid were associated with the...

Stridhan of a lady seized from her ex-husband's premises during search must be handed over to her

Posted: 19 May 2013 12:05 PM PDT

We further notice that the Family Court, Mumbai, has also passed an order on 22nd February 2007 in which while granting decree of dissolution of marriage, it is provided that the petitioner would be entitled to all those ornaments lying with the Income Tax Authority, at Ahmedabad. The issue is

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