Chief Justice Of India Cracks Whip On Adjournment Culture Of Lawyers And Wants All Courts To Discourage It
Hon'ble H. L. Dattu, Chief Justice of India, has sent the clear warning that the prevalent adjournment culture is one of the main reasons for the huge pendency in the Courts. The Learned Chief Justice of India has asked Judges of all courts to discourage the practice of frequent adjournments sought by lawyers to ensure speedy justice. He pointed out that the practice of discouraging adjournments by the Supreme Court had increased the disposal rate of cases in the Supreme Court to an all time high. He emphasized that 83,013 cases were disposed of in 2014 at an average of 227 cases per day
CBDT Invites Suggestions From Public On Issues In ICDS Requiring Guidance And Clarification
The CBDT has issued a press release dated 26.11.2015 pointing out that after notification of ICDS, it has been brought to the notice of the CBDT by the stakeholders that certain provisions of ICDS may need further clarification/ guidance for proper implementation. These implementation issues raised by the stakeholders have been referred to an expert committee comprising of departmental officers and professionals and the committee is currently examining these issues. The CBDT has stated that in order to issue a comprehensive guidance/clarification on this matter, the stake holders and general public are requested to bring out issues/points which in their opinion would require further clarification/guidance for proper implementation of the provisions of the ICDS. These issues/points may be submitted by 15th December, 2015 at the email address (dirtpl3@nic.in) or by post at the stated address
CIT vs. Sonic Biochem Extractions Pvt. Ltd (Bombay High Court)
S. 32/ 43(6): Even assets installed in a discontinued business are eligible for depreciation as part of 'block of assets'
Once the concept of block of assets was brought into effect from assessment year 1989-90 onwards then the aggregate of written down value of all the assets in the block at the beginning of the previous year along with additions made to the assets in the subject Assessment Year depreciation is allowable. The individual asset loses its identity for purposes of depreciation and the user test is to be satisfied at the time the purchased Machinery becomes a part of the block of assets for the first time
ITO vs. Bhansali Trust (ITAT Mumbai)
S. 11/ 12AA: Mere non-intimation of amendments to trust deed cannot ipso facto result in cancellation of registration if there is no change in tone and tenor of objects
Mere non-intimation of the amendments in the Trust Deed to the Department cannot ipso-facto lead to cancellation of registration because the statutory requirement of cancellation of registration contained in section 12AA(3) of the Act prescribe that the cancellation of registration cannot be effectuated unless a case is made out that the new objects do not fit-in with the existing objects (i.e. new objects are 'non-charitable' in nature) or that the activities are in-genuine
Munaf Ibrahim Memon vs. ITO (ITAT Pune)
S. 43B/ 145A: Taxes collected by the assessee, which remain unpaid, have to be added to the income even if the same are not debited to the P&L A/c and claimed as a deduction
In view of the provisions of the Act i.e. section 145A of the Act, we find no merit in the plea of the assessee in not recognizing the VAT attributable to its sales as part of the sale consideration of the goods while computing its Profit & Loss Account. The mandatory provisions of Central Act i.e. section 145A of the Act supersedes the provisions of any State Act i.e. Maharashtra Value Added Tax Act, 2002. Once the assessee recognized the VAT amount as part of the sale consideration, it tantamount to the said entry being routed through the Profit & Loss Account, especially in the cases where the assessee is following mercantile system of accounting
Regards,
Editor,
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Latest:Hero Cycles (P) Ltd vs. CIT (Supreme Court)
S. 36(1)(iii): Law on when interest expenditure on loans diverted to sister concerns and directors can be allowed as business expenditure explained
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