Judgements by Sathyanarayana G

Income Tax department must accept the audited accounts

Sathyanarayana G 25 September 2008 at 10:03

The Supreme Court has said the Income-Tax Department has to accept the authenticity of the accounts maintained in accordance with the provisions of the Companies Act and certified by the auditors. The assessing officer cannot go beyond the net pr

Posted in Income Tax | 31 Views

Each Branch of a company is a different person

Sathyanarayana G 24 September 2008 at 16:01

The state can levy professional tax on each branch of a person though the person relates to one entity for tax purposes. The SC ruled that each branch of a company is a seperate person as defined with explanation to PT act to levy PT of Rs.2,500/- on

Posted in VAT | 40 Views