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The Mumbai High Court in Slum Rehabilitation Authority vs. DDIT has laid down on the guidelines that have to be followed while considering a stay application u/s 220(6) of the Income Tax Act.
CBDT clarifies regarding prosecution of tax evaders that effective and stringent action only in known and big cases of tax evasion to demonstrate to the large number of compliant tax payers that the tax laws are just and fair and to encourage voluntary tax compliance.
Delhi VAT department is running special drive for disposal of objections relating to mismatch of Annexure 2A/2B cases for the Assessment Year 2012-2013.
Once a whole seller has issued VAT invoice to purchaser of goods, then input tax credit is allowable as per said invoice alone even if goods are sold at a price lower than their purchase cost. [CTO vs. Jyoti Electronics. Rajasthan High Court].
CBDT clarifies regarding prosecution of tax evaders that effective and stringent action only in known and big cases of tax evasion to demonstrate to the large number of compliant tax payers that the tax laws are just and fair and to encourage voluntary tax compliance.
Delhi VAT department is running special drive for disposal of objections relating to mismatch of Annexure 2A/2B cases for the Assessment Year 2012-2013.
Once a whole seller has issued VAT invoice to purchaser of goods, then input tax credit is allowable as per said invoice alone even if goods are sold at a price lower than their purchase cost. [CTO vs. Jyoti Electronics. Rajasthan High Court].