AO To Decide If Deloitte Haskins Is a Valid Partnership Firm

AO To Decide If Deloitte Haskins Is a Valid Partnership Firm Posted: 25 Jul 2013 08:40 PM PDT M/s Deloitte Haskins & Sells V/s. Deputy Commissioner of Income Tax (ITAT Delhi) 2. Facts apropos are that assessee, a firm of Chartered Accountants, filed its return for impugned assessment year on 30th September, 2008, declaring a total income of ~ 17,70,69,972/-. The assessment was completed...

Pen drive is admissible evidence in Income Tax Proceedings Posted: 25 Jul 2013 07:59 PM PDT Contention of the Assessee :- The alleged Pen drive is not an admissible evidence, therefore the recording of reasons and consequent 148 proceedings based on the reasons of such unreliable evidence are bad in law. Held by ITAT 6.1. It is apparent that many of the transactions recorded in the...

No waiver of arrears of penalties on individuals who are no more Posted: 25 Jul 2013 06:10 PM PDT As you may be aware, during the Conference of Chief Commissioners and Directors General on 28th August, 2012, a point was raised that the arrears of penalties imposed on individuals, who are no more, may be waived off.

Result of CA Intermediate (IPC) Examinations held in May, 2013 likely to be declared on 31st July, 2013 Posted: 25 Jul 2013 06:03 PM PDT The result of the Chartered Accountants Intermediate (IPC) Examinations held in May,2013 are likely to be declared on Wednesday, the 31st July, 2013 around 4.00 P.M. and the same as well as the merit list (candidates securing a minimum of 55% and above marks and upto the maximum of 50th Rank on all...

Income Tax Deptt. Sends Letters to Another Batch of 35,000 Non-Filers Tax Payers Posted: 25 Jul 2013 05:56 PM PDT As part of its ongoing initiative, the Income Tax Department has, on 22nd July, 2013 sent letters to another batch of 35,000 non filers. These persons were part of the around 12 lakh non-filers identified as a result of data matching exercise. With this latest batch, the Department has now issued...

No Penalty despite unsustainable/ non-debatable claim by the Assessee if duly disclosed by the Assessee Posted: 25 Jul 2013 12:09 PM PDT Issue – Whether in the facts and in the circumstances of the case and in law, the ITAT was right in holding that the wrong claim made by the assessee is not filing of inaccurate particulars, ignoring the fact that the assessee has knowingly claimed the setting off of loss against other source...

CENVAT credit can be utilized for payment of Service Tax under Reverse Charge Posted: 25 Jul 2013 11:39 AM PDT Issue – Whether a person who is not a actual service provider, but discharges the service tax liability on the Taxable Services, under Section 68(2) of Finance Act, 1994, as a deemed service provider, is entitled to avail the CENVAT credit on inputs/input services/capital goods for payment of...

Whether CENVAT credit is allowed to the assessee, if the assessee was not registered during relevant time? Posted: 25 Jul 2013 11:32 AM PDT It is settled law that the dutiability of the final products or inputs, the benefit of cenvat credit in respect of inputs and input services is made available, provided the assessee has necessary documentary evidence and necessary evidence to show utilisation of such input services and in this...

Delhi VAT – What is the rate of DVAT on cups/glasses of paper containing printed name? Posted: 24 Jul 2013 10:41 PM PDT He submitted that prior to amendment in entry no. 98 of Schedule III appended to DVAT Act, 2004 'cups and glasses both made of paper and plastics' were included. However, with effect from 21.06.2012 the word 'plastics' was deleted from entry no. 98 and due to the said amendment 'cups and glasses of...

Delhi VAT – What is the rate of tax on 'Steam Radiator'? Posted: 24 Jul 2013 10:35 PM PDT The applicant is actively involved in the manufacturing and sale of steam radiators, which are used in dye industries and laundries in hotels for drying. He further stated that his client is charging 12.5% rate of VAT on the sale of this item whereas others manufactures of the said item are...

Guidelines for Institution of prosecution & compounding of offences u/s. 78 of MVAT Act, 2002 Posted: 24 Jul 2013 11:55 AM PDT Section 74 of the Maharashtra Value Added Tax Act, 2002 provides for the offences and penalties. Clause (f) of sub-section (3) of section 74 provides that if any dealer fails without sufficient cause, to furnish any return as required under section 20 by the prescribed date and manner shall, on...

Delhi VAT – Last Date to Submit DP- 1 online by all the dealers Posted: 24 Jul 2013 11:50 AM PDT I, Prashant Goyal, Commissioner, Value Added Tax, Government of National Capital Territory of Delhi, in exercise of the powers conferred on me by sub-section (1) read with sub-section (2) and (3) of section 70 and sub-section-2 of section 59 of Delhi Value Added Tax Act, 2004, notify that the Form...

Delhi VAT – Due date for Filing of online returns for the First Quarter of 2013-14 Posted: 24 Jul 2013 11:46 AM PDT In order to facilitate the filing of online DVAT/CST returns, in exercise of the powers conferred under Rule 49A of the DVAT Rules 2005, the last date of filing of return, excluding Annexure 2C and Annexure 2D, for the quarter ending 30.06.2013 for dealers, including composition dealers, shall be...

Appoints ICD under Sec 7 (aa) of Customs Act, 1962 – Notification No. 79 /2013 – Customs (N.T.) Posted: 23 Jul 2013 05:20 PM PDT Notification No. 79 /2013 – Customs (N.T.) New Delhi, dated the  24th  July, 2013             G.S.R…..(E).- In exercise of the powers conferred by clause (aa) of sub-section (1) of section 7 of the Customs Act, 1962 (52 of 1962), the Central Board of Excise and Customs, hereby makes the...