Where there was pre-existing charge on properties prior to agreement for sale, obligation to sell as created by agreement between parties could not take precedence over pre-existing mortgage and charge
Sunday 11 October 2015
Commissioner can now delegate his power of revision under Tripura VAT Act
VAT/INDIAN ACTS & RULES : Tripura Value Added Tax (Fifth Amendment) Rules, 2015 – Amendment in Rules 8 And 11
High Court unhappy with ITAT for deleting sec. 68 additions without examining correctness of views o
Where assessee received unsecured loans and Assessing Officer made addition on ground that creditworthiness of alleged creditors was not proved, Tribunal was not justified in deleting said addition without examining correctness of views expressed by Assessing Officer and Commissioner (Appeals)
Rate of tax on transfer of right to use goods has been increased by 1% under Uttarakhand VAT
VAT/INDIAN ACTS & RULES : Uttarakhand Value Added Tax (Amendment) Act, 2015 – Amendment in Sections 4, 6, 35, 50, 53 and 58
Due date to file Reconciliation Return of interstate sale under Delhi VAT is extended to Oct 30, 201
VAT/DELHI : Filing of Reconciliation Return for Year 2014-15
Set Com can’t settle cases of gold smuggling: CBEC clarifies
EXCISE : Clarification on Jurisdiction of Settlement Commission (Customs, Central Excise & Service Tax) in Respect of Cases of Gold Smuggling
Machinery which was kept ready for use but couldn't be used actually would be eligible for depreciat
Where assessee-company, exporter of software purchased machinery after approval of Software Technology Parks of India and return of income was filed duly accompanied by audit report and report in Form 56F, exemption under section 10A was to be allowed
Trust earning sizeable income from incidental activities will get registration if its main object is
Where assessee besides functioning as a training institute for purpose of training of Government officials and farmers in field of water and land management was also rendering consultancy services to various organisations and earning substantial income from said activity, it was rightfully entitled to registration under section 12A
Interest on refund of excess self-assessment tax has to be computed from date of payment of tax, say
Where assessee paid self-assessment tax, it was entitled to interest under section 244A from date of payment of tax on self-assessment to date of refund of amount
Gift treated as undisclosed income as donee failed to prove creditworthiness of donor
Where assessment was not pending at time of search and no incriminating material was found during course of search, no addition could be made in assessment framed under section 153A
Rectification application is maintainable if matter referred to third member doesn’t accompany judic
Service Tax/Excise/Customs : Where a matter is referred to Third Member for resolution of difference of opinion, both Judicial Member and Technical Member must have given their findings on said issues; if Member (Judicial) has not given his findings thereon, same results into rectifiable mistake
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