Disallowance of Interest at average rate for advance from mixed fund for non business Purposes Case Law Citation- CIT vs. M/s Kudu Industries (P&H High Court), DATE OF DECISION: 31.07.2015 In case of CIT vs. M/s Kudu Industries, P&H High Court held that In the absence of anything to indicate that the interest free advance […]
When ITAT Reject of books of accounts u/s 145(3) ITAT remanded matter on question of rejection of books of account u/s 145 (3) if proper explanation or details were filed before AO Case Law citation:- ACIT vs. Rahul Pancholi (ITAT Jaipur), ITA No. 949/JP/2013, Date of Decision: 30.09.2015 Brief of the case: AO find decline […]
ICSI issues Draft Guidance Note on Annual Return Section 92 read with rule Rule 11(1) of the Companies (Management and Administration) Rules, 2014 requires every company to prepare and file the Annual Return in Form No. MGT-7 containing the particulars as specified under section 92 as they stood on the close of the financial year […]
Penalties under Service Tax w.e.f. 14.05.2015 Finance Act 2015 has drastically amended the penalty provisions under the Finance Act 1994 (Service Tax law) in order to ensure non-discriminatory form of penalties. Earlier penalties u/s 76 (for short payment of S/Tax) and u/s 78(Suppression of facts) used to be at Rs 100/- per day or 1% […]
Extension of Due Date for Filing Annual Return of Company to 30.12.2015 General circular No. 15/2015 , F.No. 01/3412013 CL-V Government of India Ministry of Corporate Affairs 5t’ Floor, ‘A’ Wing, Shastri Bhawan, Dr. Rajendra Prasad Road, New Delhi-l Dated: 30 /11/2015