The power of assessement or reassessement of any income chargable to tax that have escaped assessement has been provided under secton 147 r w s 148 of Income Tax Act of 1961.If the assessing officer has the reason to believe that any income chargaba ..
On January 26, in one of those nice moves that we encounter on Independence and Republic Days, the Government launched a programme to release about 2,00,000 undertrials from jails across the country. Two lakh undertrials, you gasp? Actually, we have ..
The first week of every New Year is observed as the 'road safety week' throughout the country. The traffic police launches campaigns to sensitise people and make them obey the traffic rules. However, any semblance of civilised driving disappears soon ..
SURVEY UNDER SECTION 133 A OF INCOME TAX ACT 1961 Survey in a wider sense means to scrutinize or to inspect. The power of survey under the Income tax Act has been provided U/S 133A and 133B. The provisions contained in section 133A are independent a ..
USE OF SECTION 144A OF INCOME TAX ACT 1961Assesements under Income Tax Act 1961 are made U/S 143, 144, 147, 153. The criterias for selection of cases for scrutiny has been increased. While making the assessement the assessing officer has to apperici ..
Rules of natural justice are important part of fundamental rights as enshirined in our constitution. Rules of natural justice means fair play in action i.e. to save the citizens from arbitrariness in administrative or quasi judicial action. Rules of ..
The VAT Department in Punjab has started issuing the notices for assessements for the year 2005-2006 under section 29 of Punjab Value Added Tax Act 2005 to the dealers across the state. The notices u/s 29 of PVAT Act 2005 can be issued within 3 year ..
The deterioration in the overall asset quality of banks — gross non-performing assets (NPAs) are reportedly 27% higher at the end of December 2009 than at the end of December 2008 — is not surprising. Any slowdown in growth is bound to tr ..
60TH REPUBLIC DAY "LOKNAYALAYA - JUDICARY WORKING" KUDOS TO ALL JUDGES AND ADVOCATES OF MAHARSHTRA THE LOWER JUDICARY IN MAHARASTHRA WERE WORKING ON 60TH REPUBLIC DAY. THE MAGISTRATES IN MAHARASHTRA STATES WERE CELEBRATING THEIR 60TH ..
Bollywood is mirroring in its films the ‘live-in’ relationships, a recent social phenomenon that is spreading in Indian society. Hindi movies like Fashion, Raaz, Salaam Namaste so on are all embedded with this theme. Present society is f ..
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