SUBHASH SHARMA
18 August 2010 at 15:16
ONE OF MY CLINET AB LIMITED WHO IS DEALING WITH TRADING OF GENSET HAVING FACTOR CUM OFFICE AT SAHIBABAD, UP. THE DG SET WAS DESPATCHED IN 1990-1991 BY THIRD PARTY “HIND LTD” WEST BANGAL SINCE IT WAS CONSIGNMENT SALE. WHILE TRANSPORING THE DG SET FROM THIRD PARTY WHEN IT WAS ENTERED IN UP. MOHAND NAGAR CHECK POST DETAINED THE CONSIGNMENT ON THE BASIS THAT THE DRIVER DID NOT SHOW THE CONSIGNMENT NOTE TO THE CHECK POST AUTHORITY.
AB LTD ALREADY RECD THE PAYMENT OF THE SAME D.G. SET IN THE YEAR OF 1989-90 BY RAISING PROFORMA INVOICE AND C-FORM WAS ALSO GIVEN BY THE NTPC INCLUDING OF THIS TRANSACTION IN THE YEAR 1989-90.
SINCE AB LTD RECD C-FORM IN THE YEAR 1989-90 SHOWN THIS TRANSACTION IN THE YEAR 1989-90 AND GOT THE ASSESSMENT DONE BY SHOWING THIS TRANSACTION AS SIT SALE.
AS CHECK POST CASE OF 1990-1991 WAS STILL ALIVE AND MOHAN NAGAR CHECK POST TREATED THIS TRANSACTION AS LOCAL SALE IN THE YEAR 1990-1991.
AB LTD FILED AN APPEAL WITH ADDNL COMMISSIONER AND LATER ON TRABUNAL, GHZAIABD AND TRIBUNAL ORDERED TO TREAT THIS TRANSACTION IN THE YEAR 1990-1991.
NOW C-FORM FOR THIS PARTICULAR TRANSACTION IS BEING DEMANDED BY THE SALES TAX AUTHORITY FO THE YEAR 1990-1991 WHILE AB LTD HAS ALREADY DEPOSITED THE C-FORM TO THE ASSESSING AUTHORITY AT THE TIME OF ASSESSMENT.
CAN C-FORM FOR THE YEAR 1990-1991 BE ISSUED FOR THIS PARTICULAR TRANSACTION.
NTPC HAS ALSO COMPLETED THE ASSESSMENT OF 1989-90 AND 1990-91.
KINDLY ADVISE.
REGARS
SUBHAHS SHARMA
ADVOCATE
Tarun Goyal
18 August 2010 at 13:48
R/Sir,
In the firm i am doing job my owner purchase 2448 sahre @ 100 in april 1984 & sold it in sep. 2007 @ 300/- per share then how i calculatehis profit on share.
anand gupta
18 August 2010 at 12:26
Sir,
I am legal practicener in Kanpur U.P. .my cliant M/s new paint & hardware recd. a notice by commercial tax department that he has raisd a sale invoice no. 175 dt 23.03.09 and that goods has been cought on the way . my cliant gone to the office and denied that bill after this asst. commi. made a judgement of exparty order in which he refused our 4 quarterly return and enhance the sale upto Rs.810000/-and tax Rs. 50000 per quartertotal 2lac , we have also given an application for sec. 32 to reopen the case , the case is reopened on date 23-3-2010 , we have requested to assessing autho. to give a copy of seized bill but he refused us and said please give any related judgement or ruling of vat act. it is most essential to have the copy of the seized bill which we have to challenge .
please give us your valuable suggestion and ruling or judgement in vat act 2008 to recd. the copy of that bill .
Mangesh
17 August 2010 at 22:33
The company has filed reply to the intimation u/s 143(1)but the Income Tax has not replied to the notice till date of prospectus.Does this is a pending litigation for filing of Prospectus.
As there is no contingent liability arising out of this.
Anonymous
17 August 2010 at 10:58
Sir,
I am legal practicener in Kanpur U.P. .my cliant M/s new paint & hardware recd. a notice by commercial tax department that he has raisd a sale invoice no. 175 dt 23.03.09 and that goods has been cought on the way . my cliant gone to the office and denied that bill after this asst. commi. made a judgement of exparty order in which he refused our 4 quarterly return and enhance the sale upto Rs.810000/-and tax Rs. 50000 per quartertotal 2lac , we have also given an application for sec. 32 to reopen the case , the case is reopened on date 23-3-2010 , we have requested to assessing autho. to give a copy of seized bill but he refused us and said please give any related judgement or ruling of vat act. it is most essential to have the copy of the seized bill which we have to challenge .
please give us your valuable suggestion and ruling or judgement in vat act 2008 to recd. the copy of that bill .
Jatinder Chugh
16 August 2010 at 15:55
I am a regd dealer in the state of Punjab. I have crossed annual turnover limit of Rs. 1 crore in the year 2009-10. But my annual tax liability does not exceed Rs. 2 Lac. But by mistake i Have filed monthly vat return on Form Vat-16 for the m.o April-10 & May-10. Now I have come to know that i am not eligible for filing monthly vat return as my annual tax laibility does not exceed Rs. 2 Lac. Now what should i do. Should i continue to file monthly vat return for the rest of months or to stop filing with the immediate effect.
Anonymous
16 August 2010 at 12:57
Dear Experts
Please advise, one A person has sell out one property and after 25 months he has purchased another property with B person in joint name, whether he will get the benefit of capital gains, kindly guide the diff.between short term and long term capital gain.
If A retained the sale amount in his SB A/c and after 25 months he made the purchse, what would be the treatement at the time of filing his IT yrly. returns.
thanks and regd.
varun
14 August 2010 at 12:30
HI,
I just have a query that a old pan card of firm. was used some where around 20 yrs ago but then the pan was not renewed into new pan card and subsequently closed off as its a time gap from now, will any record be .
thanks
varun
RAMESH
13 August 2010 at 20:44
short term capital gain on sale of shares (STT Suffered) gain amount will get u/s 80(C) benefit of Rs. 100000/-
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