therefore, no applicability to the compulsory deposit. Section 7A excluded the compulsory deposit from the net of wealth-tax to a limited extent ... extended to compulsory deposit, the exemption available to the deposits with a bank went to show that earlier no exemption to compulsory deposit was available
that the DCIT(A) has wrongly confirmed the disallowance of compulsory deduction from salary towards Provident Fund which deduction has overriding title on the salary ... assessee filed the return of income on 29-4-1988 declaring the net income of Rs. 28,488. In response to notice under Section
rate of net profit on a sale of
Rs. 35,08,000. As per section 44AF(4) , no books of accounts are
compulsory in such
respectively, for the three years.
3. Under the provisions of the Compulsory Deposit Scheme (Income-tax Payers ... assessee's net wealth sums of Rs. 39,453 and Rs. 52,335 respectively, which reflected balances in the compulsory deposit account. In this
improving the profits of the company. Since it wanted to improve its
net worth to attract FIIs the company was not declaring dividend. The three ... held that the payment of dividend
by a company is not compulsory and it is dependent upon the profitability
and other conditions of the business
dated 14-12-1978, determining net wealth at Rs. 11,13,700 as rounded off, as against declared net wealth ... order dated 31-1-1979 and, consequently, assessed net wealth came to be reduced to Rs. 10,95,000 as rounded off. The said amendment
hereinafter referred as the Act) and the case was selected for
compulsory scrutiny. Accordingly, statutory notices were issued to
the assessee and served upon ... freight services. During the year under
consideration the assessee has declared Net Profit of Rs. 295963/
on total receipts of Rs. 8410141/- thereby giving
Vatika Ltd., New Delhi vs Dcit, New Delhi on 14 August, 2019
INCOME TAX APPELLATE
Forwarding Agent
Charges 1.26 3.21 0.00
Other Charges 1.62 6.32 0.00
Net Profit reflected in the
Statement of Profit & Loss ... platforms;
ii. Forward Market Commission (FMC) - FMC regulates all the trade
where netting of intraday transaction in the commodities contract is
allowed by the Exchange
Forwarding Agent
Charges 1.26 3.21 0.00
Other Charges 1.62 6.32 0.00
Net Profit reflected in the
Statement of Profit & Loss ... platforms;
ii. Forward Market Commission (FMC) - FMC regulates all the trade
where netting of intraday transaction in the commodities contract is
allowed by the Exchange
