Kerala HC confirms ITAT
order, holds that failure to consider assessee trust's application for
registration within stipulated period of 6 months would result in deemed grant
of registration, but such registration is effective from date of expiry of 6
months from application date; HC finds Revenue’s request to interpret relevant
provisions as done by Full Bench of Allahabad HC in Muzafar Nagar Development Authority
(wherein it was held that non-disposal of application cannot result into deemed
registration) as persuasive; However observes that it was obliged to follow SC
decision upholding Allahabad HC decision in Society for the promotion of
Education, Adventure Sport & Conservation of Environment, holds that “The
opinion as expressed by the Allahabad High Court, regarding deemed registration
.. having not been differed from by the Hon'ble Supreme Court in the Civil
Appeal; the declaration by the High Court assumes the authority of a precedent
by the Hon'ble Supreme Court on the principles of doctrine of merger”; Reject
Revenue’s contention that SC decision is not declaration of law as it was based
on concession from Department Counsel, notes that only apprehension raised by
Department before SC was about effective date of deemed registration; Also
takes note of CBDT Instruction No. 16/2015 which stated that requirement to
pass order granting or rejecting registration within 6 months is a mandatory
requirement.:HC
Subscribe to:
Post Comments (Atom)
India-Mauritius DTAA Protocol Notified: Key Tax Implications
The Government of India has notified the amendment to the Protocol of the India-Mauritius Double Tax Avoidance Agreement (DTAA) on 13 Oct...
-
A new website launched for TDS related matters www.tdscpc.gov.in TRACES – T DS R econciliation A nalysis and C orrection E nabling S yste...
-
Slump sale is transfer of one or more business undertakings for a lump sum consideration, without assigning individual values to the each...
-
In a recent informal guidance letter, SEBI clarified whether a cousin of a Promoter Group member qualifies as a person ‘related to promote...
-
Key features of File Validation Utility (FVU) version 3.3 FVU 3.3 will be applicable for quarterly TDS/ TCS statements pertaining to...
-
Facts The applicant („A‟) is a closely held Public Limited company incorporated in India in the year 1953. A‟s shareholder included A (...
-
CIT vs. The Instalment Supply Ltd (Delhi High Court) The assessee bought 1614 items of computer systems for Rs.40 lacs from HCL Hewlett ...
-
01. TDS u/s 194J is required to be done for Royalty also w.e.f 13-7-2006. 02. Royalty had been defined under explanation 2 of se...
-
Until now, 'Samaritans' is not how the Independent Directors are purported by Clause 49 in the Listing agreement. An Independ...
-
Facts Centrica India Offshore Private Limited (CIO), an Indian Company, is a wholly owned subsidiary of Centrica Plc, UK Centrica Plc a...
-
1. Concept of “limited liability partnership” LLP is an alternative corporate business form that gives the benefits of limited liability ...
No comments:
Post a Comment