Revision of monetary limits for departmental appeals - CBDT

INCOME TAX APPELLATE TRIBUNAL BAR ASSOCIATION, NEW DELHI

10^TH FLOOR ITAT PREMISES, LOK NAYAK BHAWAN, KHAN MARKET, NEW DELHI-110003

TEL: 24628213 /24647347/ 43528310/ M: 9810870279

E-MAIL: itatbar@gmail.com / itatbardelhi@gmail.com

President Ajay Wadhwa 9818653331 Vice President R. S. Ahuja 9810028009 Gen Secretary Ranjan Chopra 9810047393 Secretary Dr. G. S. Grewal 9811242856 Treasurer R. Sabharwal 9312236105 E.C. Members K. Sampath (Past President) T.R.Talwar R.A. Bansal A. K. Srivasatava M. S. Sekhon Manu Monga P.C. Yadav S. M. Mathur Salil Kapoor Salil Aggarwal Aseem Chawla Sushil K Verma Karan Khanna Manoj Kumar

11th December 2015 Dear Members, The Hon’ble CBDT has issued a path breaking Circular No 21/2015 dated 10.12.2015, for revision of monetary limits for filing of appeals by the Department before Income Tax Appellate Tribunal, Hon’ble High Court and

How A Fake Company Is Created in USA

Here's how it works; how it is done:

The first stop is often to a so-called "registered agent." These firms incorporate tens of thousands of companies a year for fees as low as a few hundred dollars.

In some cases, a corporation can be set up within minutes using little more than an email address -- no proof of

No VAT on free supply of medicines

No VAT on free supply of medicines - State Government isn’t competent to levy tax on the basis of Maximum retail price or any other notional value

Mapra Laboratories Pvt. Ltd. Vs. Commercial Tax Officer [2015 (9) TMI 1274 - PATNA HIGH COURT]

Mapra Laboratories Pvt. Ltd. and others (“the Petitioners”) were engaged in manufacture and sale of

Jio Chat: Reliance's instant messaging app now available in 9 countries

http://www.ibnlive.com/news/tech/jio-chat-reliances-instant-messaging-app-now-available-in-9-countries-1172616.html

The pre-emptive provisions of Article of Association with respect to transfer of shares cannot be enforced in case of amalgamation

CL: The pre-emptive provisions of Article of Association with respect to transfer of shares cannot be enforced in case of amalgamation

CL: Time-limit for filing petition under section 111 of Companies Act, 1956 is 3

When relevant DGFT Notification allowed 'free import' of marble blocks/tiles for CIF value at US$ 60 and above per square metre, if assessee declared same below US$ 60 per square metre, confiscation of such goods would be justified

Excise & Customs: When relevant DGFT Notification allowed 'free import' of marble blocks/tiles for CIF value at US$ 60 and above per square metre, if

Excise & Customs: Use of brand name of foreign company under assignment agreement for exclusive use in India, is use of brand name in assessee's own right and not use of 'other's brand'; therefore, SSI-exemption cannot be denied

Excise & Customs: Use of brand name of foreign company under assignment agreement for exclusive use in India, is use of brand name in assessee's own right and not use of 'other's brand'; therefore, SSI-exemption cannot be

Total votes casted during ICAI election in Northern Region: Area/ City wise

Total Status at 22708

Location Vote Casted Total Votes Percentage
Abohar 24 52 46%
Ambala 0 309 0%
Amritsar 364 551 66%
Ashok Vihar 468 1113 42%

CBDT Amends Rule To Enable Issue Of Notice, Summons, Orders Etc To Taxpayers By Email

Pursuant to the CBDT’s directives regarding ‘Paperless Assessment Proceedings‘, ‘E-Sahyog Project To Avoid Physical Presence Of Taxpayers During Assessment‘ and ‘Redressal of grievances received from Taxpayers by email at Aayakar Sampark Kendra‘, the CBDT has issued a Notification dated 02.12.2015

NO BOOKS OF ACCOUNTS WITH JALANDHAR BRANCH OF NIRC- RTI

In the RTI Application dated 27.10.2015 to ICAI, following docs were asked-

1. DULY CERTIFIED COPIES OF COMPLETE LEDGER ACCOUNTS OF ‘SEMINAR AND MEETING EXPENSES’ FROM THE ACCOUNTS BOOKS OF JALANDHAR BRANCH OF NIRC OF ICAI, AS APPEARING IN THE RESPECTIVE INCOME & EXPENDITURE ACCOUNTS OF THE SAID BRANCH, FOR THE FINANCIAL YEARS 2009-10, 2010-11, 2011-12, 2012-13, 2013-14 AND 2014-15 WITH COMPLETE NARRATION AGAINST EACH ENTRY, DULY TALLIED WITH THE FIGURES OF AUDITED FINANCIAL

Partners Required

We are Delhi based RBI category II firm having head office at sonipat and branches at Moradabad and Delhi having experience of 20 years. 

We are looking for a partner (preferably DISA) for expansion of our business in

Interest on refund of tax is not covered by definition of 'interest' mentioned under article 12(4) of India-Italy DTAA, and, therefore, Assessing Officer is justified in imposing TDS at higher rate while granting such interest to assessee

IT/ILT : Interest on refund of tax is not covered by definition of 'interest' mentioned under article 12(4) of India-Italy DTAA, and, therefore, Assessing Officer is justified in imposing TDS at higher rate while granting such interest

CBDT defines ‘charitable purpose’ for benefits under I-T Act says any general public service that involves trade, commerce or business for a consideration will not be treated as Charity under the Act

With a view to weed out commercial activities under the garb of charity, the tax department has said any general public service that involves trade, commerce or business for a consideration will not be treated as Charity under the Income Tax Act. Issuing ‘Explanatory Notes to the Provisions of the Finance Act, 2015’, which lists all the amendments that were made to it, the Central Board of Direct Taxes (CBDT) in a circular gave the definition of ‘charitable

A Corporate "ANT" Story

“Every day, a small Ant arrived at work early and started work immediately, she produced a lot and she was happy. The boss, a lion, was surprised to see that the ant was working without supervision. He thought if the ant can produce so much without supervision, wouldn’t she produce more if she had a supervisor!

So the lion recruited a cockroach who had extensive experience as a supervisor and who was famous for writing excellent reports. The cockroach’s first decision was to set up a clocking in attendance system. He

ICAI - CARO suggestions

http://www.icai.org/new_post.html?post_id=12149&c_id=219

Reiteration of Principles under CAS-4 by Hon'ble Supreme Court

                                            Nirma Limited V/s CCE Vadodara

A study of the Judgement passed by Hon'ble Supreme Court of India on 9th October 2015 vide Civil Appeal No. 3621/2007 dated 9th October 2015 read with Nirma Limited V/s CCE Vadodara-2005(8) TMI337-CESAT, Mumbai Order No.- A/1650-1653/2005-WZ/C-III dated 26th August 2005 on Valuation of  Excisable Goods brings about the  following:

Simplification of procedure for 15G/15H

1122201544901(1).pdf

MAJOR AMENDMENTS IN SERVICE TAX EXEMPTIONS IN 2015

Amendments made by Notification No. 6/2015-ST dated 1.3.2015 w.e.f. 1.4.2015 or notified date (01.06.2015)

The following changes (new exemptions, withdrawal of existing exemptions or rationalization of exemptions) have been made vide Notification No. 6/2015-ST dated 1.3.2015 w.e.f. 1.4.2015 or

AMENDMENTS AT A GLANCE IN CENVAT RULES IN 2015

AMENDMENTS AT A GLANCE IN CENVAT RULES IN 2015

, 2015

Cenvat Credit Rules, 2004 have been subject to frequent and varied changes over the time. Following Table captures the amendments made in Cenvat Credit Rules, 2004 in 2015. Amendments in Cenvat Credit Rules in 2015 at a Glance

ICAI Objects To Proposal Of Income-tax Dept To Exclude CAs From Practice Of Taxation Law

The ICAI has addressed a letter dated 27.11.2015 to the Principal Commissioner of Income-tax, Chandigarh, raising objections to the alleged proposal of the department not to allow Chartered Accountants and non-Advocates to “practice law” in the course of proceedings before the tax authorities. The ICAI has pointed out that taxation is one of the “core-competence” areas of Chartered Accountants and that they have expertise