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In Re: Extention of Interim Orders (Bombay High Court)
Corona Virus Lockdown Crisis: All interim orders operating till today and are not already continued by some other courts / authority including this court shall remain in force till 30.04.2020 subject to liberty to parties to move for vacation of interim orders only in extreme urgent cases. Thus, all interim orders passed by this High Court at Mumbai, Aurangabad, Nagpur and Panaji as also all courts/ Tribunal and authorities subordinate over which it has power of superintendence expiring before 30.04.2020, shall continue to operate till then. It is clarifed that such interim orders which are not granted for limited duration and therefore, are to operate till further orders, shall remain unaffected by this order (Similar orders are passed by the Delhi & Karnataka High Courts) We find it appropriate to continue all interim orders which are operating till today and are not already continued by some other courts / authority including this court and the same shall remain in force till 30.04.2020, subject to liberty to parties to move for vacation of interim orders only in extreme urgent cases. Thus, all interim orders passed by this High Court at Mumbai, Aurangabad, Nagpur and Panaji as also all courts/ Tribunal and authorities subordinate over which it has power of superintendence expiring before 30.04.2020, shall continue to operate till then. It is clarified that such interim orders which are not granted for limited duration and therefore, are to operate till further orders, shall remain unaffected by this order
Aricent Technologies Holdings Ltd vs. ACIT (ITAT Delhi)
S. 199/205: In a case where the deductor has deducted tax at source but has not deposited the tax with the Govt, the assessee cannot be made to suffer. U/s 205, the assessee/ deductee cannot be called upon to pay the tax. Credit for the tax deducted at source has to be allowed in the hands of the deductee irrespective of whether the same has been deposited by the deductor to the credit of the Central Government or not (Yashpal Sahani 165 TM 144 (Bom), Sumit Devendra Rajani 49 TM.com 31 (Guj) & Pushkar Jain 103 TM.com 106 (Bom) followed) In terms of section 205 of the Act, the assessee/deductee cannot be called upon to pay tax, to the extent to which tax had been deducted from the payments due. Consequently, it follows that credit for such tax deducted at source, which is deducted from the account of the deductee, by the deductor, is to be allowed as taxes paid in the hands of the deductee, irrespective of the fact whether the same has been deposited by the deductor to the credit of the Central Government or not. The deductee in such circumstances cannot be denied credit of tax deducted at source on its behalf. Under the Act, the provisions are enshrined under which recovery of tax from the account of the person, who had deducted the such tax, are provided
Conversion Of Company Into LLP – Applicability Of Section 43CA
CA Rohan Sogani has explained in detail the provisions of law relating to conversion of a company into a LLP with particular emphasis on section 43CA and its impact on stock-in-trade held by a Real Estate Developer. He has referred to all the important judgements on the issue. The effect of the Income Computation and Disclosure Standards (ICDS) relating to valuation of inventory has also been explainedTop CA Firm Reveals Strategy To Tackle CoronaVirus Slowdown
An elite MNC CA firm has explained the strategy that it intends to follow to overcome the hurdles posed by the CoronaVirus slowdown See Also: Digest of case laws (updated regularly) containing latest judgements reported in BCAJ, CTR, DTR, ITD, ITR, ITR (Trib), Chamber's Journal, SOT, Taxman, TTJ, BCAJ, ACAJ, www.itatonline.org and other journals
Download Finance Act 2020
The Finance Act 2020 received the assent of the President on the 27th March, 2020, and is now available for download__._,_.___
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