Hi, this is CA Anish Abrol from Jammu, your SSI Exemption notification is really helpful but i am not able to find this case any where online ""Faridabad Tools Pvt Ltd v/s CCE (2002-TIOL-79-CESTAT-DEL-SB"". Can you please mail me this case law if possible. My email id is firstname.lastname@example.org
This will be helpful. Thanks
Reading this case and judgement it is very clear that by common sense, the AO should not have disallowed the deduction. But, the greater point is how can a tax payer live a stressfree life when such excesses are happpening. Also what reprimand the Govt has for erring AOs. For the democracy to function, there must be counter sue mechanism where Govt is liable for pain, suffering and financial loss caused by erring AO. Are there provisions for this. pl comment
We have implemented SAP Business one at one of our client site they are doing trading business.before the implementation they were following FIFO method but now the valuation method is weighted average. Auditor based on this case is saying that he will not file the tax audit report unless we change the method to FIFO. Its a very big procedure to change the method in SAP full year transaction has to be reentered my question is. the difference between both the method in 60000+
My question is.
1. Is it enough to show this amount as income and file the tax audit report and disclose it in form 3CD
2. In Next financial year can we stick on to Average method