Daily Archives: April 22, 2017

No sec 14A Disallowance if no exempt income was earned during the year: Madras HC

By | April 22, 2017

HIGH COURT OF MADRAS Commisioner of Income-tax, Central 1, Chennai v. Chettinad Logistics (P.) Ltd. RAJIV SHAKDHER AND R. SURESH KUMAR, JJ. T.C.A. NO. 24 OF 2017 MARCH  13, 2017 T.R. Senthil Kumar for the Appellant. S. Sridhar for the Respondent. JUDGMENT Rajiv Shakdher, J. – This is an appeal filed under Section 260 A… Read More »

Sale proceeds of land appurtenant to residential house is entitled to section 54 relief: ITAT

By | April 22, 2017

IN THE ITAT DELHI BENCH ‘SMC’ Adarsh Kumar Swarup v. Deputy Commissioner of Income-tax, Circle-1, Muzafarnagar H.S. SIDHU, JUDICIAL MEMBER IT APPEAL NO.1228 (DELHI) OF 2016 [ASSESSMENT YEAR 2011-12] MARCH  28, 2017 M.P. Rastogi, Adv. for the Appellant. Ms. Bedobina Chaudhuri, Sr. DR for the Respondent. ORDER 1. The Assessee has filed this Appeal against… Read More »

Rs 837 Cr Tax Demand of Vodafone India Stayed by ITAT – Judgment

By | April 22, 2017

Held The assessed income in this case is more than seventy times the returned income, and the impugned additions are in respect of contentious points. In our considered view, and on a perusal of material on record and on consideration of rival contentions, the balance of convenience is in favour of partial stay on collection/… Read More »

Adjustment of cash seized against advance tax liability

By | April 22, 2017

Held The assessee has been held entitled to adjustment of cash seized against its advance tax dues. It has further been held that the Explanation 2 to Section 132B of the Act is not retrospective in nature. Punjab And Haryana High Court Pr. CIT Vs Sh. Surinder Kumar Khindri  Appeal Number : ITA No. 25… Read More »

Service Charge by Hotels & Restaurants – Guidelines by Govt of India

By | April 22, 2017

No. J- 24/9/2014-CPU(pt.) Government of India Ministry of Consumer Affairs, Food and Public Distribution (Department of Consumer Affairs) Krishi Bhavan, New Delhi The 21st April, 2017 GUIDELINES ON FAIR TRADE PRACTICES RELATED TO CHARGING OF SERVICE CHARGE FROM CONSUMERS BY HOTELS/RESTAURANTS Whereas, the Department of Consumer Affairs, Government of India is mandated to ensure that… Read More »

Section 17 IGST Act 2017 – Apportionment of tax and settlement of funds

By | April 22, 2017

Section 17 IGST Act 2017 [ Section 17 IGST Act 2017 Notified w.e.f 01.07.2017 vide  Notification No. 3/2017 – Integrated Tax Dated 28th June, 2017 ] Section 17 IGST Act 2017 deals with Apportionment of tax and settlement of funds and is covered in CHAPTER VIII – APPORTIONMENT OF TAX AND SETTLEMENT OF FUNDS ( Note IGST Act 2017… Read More »

Section 15 IGST Act 2017- Refund of integrated tax paid on supply of goods to tourist leaving India

By | April 22, 2017

Section 15 IGST Act 2017 Section 15 IGST Act 2017 deals with Refund of integrated tax paid on supply of goods to tourist leaving India and is covered in CHAPTER VI – REFUND OF INTEGRATED TAX TO INTERNATIONAL TOURIST ( Note IGST Act 2017 also known as THE INTEGRATED GOODS AND SERVICES TAX ACT, 2017 received the Assent of… Read More »

Section 14 IGST Act 2017 – Special provision for payment of tax by a supplier of online information and database access or retrieval services

By | April 22, 2017

Section 14 IGST Act 2017 [ Section 14 IGST Act 2017 Comes into force w.e.f 22.06.2017 vide Notification No. 1/2017 – Integrated Tax Dated 19.06.2017 ] Section 14 IGST Act 2017 deals with Special provision for payment of tax by a supplier of online information and database access or retrieval services and is covered in CHAPTER V… Read More »

Section 13 IGST Act 2017 – Place of supply of services where location of supplier or location of recipient is outside India

By | April 22, 2017

Section 13 IGST Act 2017 [ Section 13 IGST Act 2017 Notified w.e.f 01.07.2017 vide  Notification No. 3/2017 – Integrated Tax Dated 28th June, 2017 ] Section 13 IGST Act 2017 deals with Place of supply of services where location of supplier or location of recipient is outside India and is covered in CHAPTER V – PLACE OF SUPPLY… Read More »

Section 12 IGST Act 2017 – Place of supply of services where location of supplier and recipient is in India

By | April 22, 2017

Section 12 IGST Act 2017 [ Section 12 IGST Act 2017 Notified w.e.f 01.07.2017 vide  Notification No. 3/2017 – Integrated Tax Dated 28th June, 2017 ] Section 12 IGST Act 2017 deals with Place of supply of services where location of supplier and recipient is in India and is covered in CHAPTER V -PLACE OF SUPPLY OF GOODS OR… Read More »

Section 11 IGST Act 2017 – Place of supply of goods imported into, or exported from India

By | April 22, 2017

Section 11 IGST Act 2017 [ Section 11 IGST Act 2017 Notified w.e.f 01.07.2017 vide  Notification No. 3/2017 – Integrated Tax Dated 28th June, 2017 ] Section 11 IGST Act 2017 deals with Place of supply of goods imported into, or exported from India. and is covered in CHAPTER V -PLACE OF SUPPLY OF GOODS OR SERVICES OR BOTH… Read More »

Section 10 IGST Act 2017 – Place of supply of goods other than supply of goods imported into, or exported from India

By | April 22, 2017

Section 10 IGST Act 2017 [ Section 10 IGST Act 2017 Notified w.e.f 01.07.2017 vide  Notification No. 3/2017 – Integrated Tax Dated 28th June, 2017 ] Section 10 IGST Act 2017 deals with Place of supply of goods other than supply of goods imported into, or exported from India. and is covered in CHAPTER V – PLACE OF SUPPLY… Read More »

Section 9 IGST Act 2017 – Supplies in territorial waters

By | April 22, 2017

Section 9 IGST Act 2017 [ Section 9 IGST Act 2017 Notified w.e.f 01.07.2017 vide  Notification No. 3/2017 – Integrated Tax Dated 28th June, 2017 ] Section 9 IGST Act 2017 deals with Supplies in territorial waters  and is covered in CHAPTER IV DETERMINATION OF NATURE OF SUPPLY ( Note IGST Act 2017 also known as THE INTEGRATED GOODS AND… Read More »

Section 8 IGST Act 2017-Intra-State supply

By | April 22, 2017

Section 8 IGST Act 2017 [ Section 8 IGST Act 2017 Notified w.e.f 01.07.2017 vide  Notification No. 3/2017 – Integrated Tax Dated 28th June, 2017 ] Section 8 IGST Act 2017 deals with Intra-State supply and is covered in CHAPTER IV DETERMINATION OF NATURE OF SUPPLY ( Note IGST Act 2017 also known as THE INTEGRATED GOODS AND SERVICES TAX… Read More »

Section 7 IGST Act 2017-Inter-State supply

By | April 22, 2017

Section 7 IGST Act 2017 [ Section 7 IGST Act 2017 Notified w.e.f 01.07.2017 vide  Notification No. 3/2017 – Integrated Tax Dated 28th June, 2017 ] Section 7 IGST Act 2017 deals with Inter-State supply and is covered in CHAPTER IV DETERMINATION OF NATURE OF SUPPLY ( Note IGST Act 2017 also known as THE INTEGRATED GOODS AND SERVICES TAX… Read More »

Section 6 IGST Act 2017 : Power to grant exemption from tax

By | April 22, 2017

Section 6 IGST Act 2017 [ Section 6 IGST Act 2017 Notified w.e.f 01.07.2017 vide  Notification No. 3/2017 – Integrated Tax Dated 28th June, 2017 ] [ Seeks to amend notification No. 09/2017-IT(R) to exempt right to admission to the events organised under FIFA U-17 World Cup 2017. vide Notification No. 25/2017-Integrated Tax (Rate) Dated the 21st September, 2017… Read More »

Section 4 IGST Act 2017 -Authorisation of officers of State tax or Union territory tax as proper officer in certain circumstances

By | April 22, 2017

Section 4 IGST Act 2017 [ Section 4 IGST Act 2017 Notified w.e.f 01.07.2017 vide  Notification No. 3/2017 – Integrated Tax Dated 28th June, 2017 ] Section 4 IGST Act 2017 deals with Authorisation of officers of State tax or Union territory tax as proper officer in certain circumstances and is covered in CHAPTER II – ADMINISTRATION (… Read More »

Section 3 IGST Act 2017 – Appointment of officers

By | April 22, 2017

Section 3 IGST Act 2017 [ Section 3 IGST Act 2017 Comes into force w.e.f 22.06.2017 vide Notification No. 1/2017 – Integrated Tax Dated 19.06.2017 ] Section 3 IGST Act 2017 deals with Appointment of officers and is covered in CHAPTER II ADMINISTRATION ( Note IGST Act 2017 also known as THE INTEGRATED GOODS AND SERVICES TAX ACT,… Read More »

Aayakar Kaise Bachaye -Hindi Book – (As amended by Finance Act, 2017)

By | April 22, 2017

Aayakar Kaise Bachaye (As amended by the Finance Act, 2017)(Hindi) Paperback – 1 Apr 2017 by Ram Kumar Gupta (Author), Sunil Kumar Gupta (Author) Salient Features: • Updated with Finance Act, 2017 • Easy to understand Tax Planning guide for taxpayers • Easy guide for filing returns • Exempted expenses for business entities have been dealt… Read More »

Law of Rent Control in India – 2017 Edition Book – S.U. Khan

By | April 22, 2017

Law of Rent Control in India  by Justice S.U. Khan (Author) Law of Rent Control in India analyses and highlights the harrnonio construction of Rent Control Acts of different States. The book is mainly based on an assessment of Supreme Court authorities and latest case law on the subject. However, several case law of the Allahabad High… Read More »

Art of Cross Examination – Book 2017 Edition – Surender Pal singh & Rajender Pal Singh

By | April 22, 2017

Art of Cross Examination (Cross-Examination-An Overview and Cross Examination on Framed Cases) (Law Books) Paperback – 2017 by Surender Pal singh & Rajender Pal Singh (Author) Contents of this Book – **Cross-Examination Of Witness **Phenomenon Of Cross-Examination **Examination In chief **Cross Examination Of Witnesses **Cross Examination Of Documents **Checking Of Improper Cross Examination **Without Holding Of… Read More »

Removal of Cyprus from list of notified jurisdictional area u/s 94A of Income Tax Act – Circular No. 15 of 2017

By | April 22, 2017

Circular No. 15 of 2017 F. No. 500/002/201 S-FT&TR’lll(1 ) Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi, dated 21st April, 2017 Subject: Clarification on removal of Cyprus from the list of notified jurisdictional areas under   section 94A of the lncome tax Act, 1961 Cyprus was… Read More »

Sovereign Gold Bonds 2017-18 – Series I – Operational Guidelines

By | April 22, 2017

RBI/2016-17/290 IDMD.CDD.No.2759/14.04.050/2016-17 April 20, 2017 The Chairman & Managing Director All Scheduled Commercial Banks (Excluding RRBs) Designated Post Offices Stock Holding Corporation of India ltd.(SHCIL) National Stock Exchange of India Ltd. & Bombay Stock Exchange Ltd. Dear Sir/Madam, Sovereign Gold Bonds, 2017-18 – Series I – Operational Guidelines This has reference to the GoI notification… Read More »

Sovereign Gold Bonds 2017-18 – Series I

By | April 22, 2017

RBI/2016-17/289 IDMD.CDD.No.2760/14.04.050/2016-17 April 20, 2017 The Chairman & Managing Director All Scheduled Commercial Banks, (Excluding RRBs) Designated Post Offices Stock Holding Corporation of India Ltd. (SHCIL) National Stock Exchange of India Ltd. & Bombay Stock Exchange Ltd. Dear Sir/Madam, Sovereign Gold Bonds 2017-18 – Series I Government of India has vide its Notification F.No. 4(8)-(W&M)/2017… Read More »