Karnataka VAT - Effect of Conversion of partnership firm into ...

Case Laws VAT and Sales Tax

January 8, 2021

Karnataka VAT - Effect of Conversion of partnership firm into joint stock company - Carry forward deduction of unabsorbed contractor payments - the adjudicating authority as well as the first appellate authority allowed the claim but tribunal did not - the finding recorded by the tribunal that the petitioner had not substantiated its claim for deduction of excess unabsorbed sub contractor payments before the adjudicating as well as first appellate authority is perverse and the aforesaid finding is therefore, set aside. - HC

View Source

← Previous Next →

Karnataka VAT - Effect of Conversion of partnership firm into ...

Case Laws VAT and Sales Tax

January 8, 2021

You may also like:

Short Term Capital Gain - conversion of the Partnership Firms into Companies - Additions in the hands of partners - CIT (Appeals) correctly deleted the additions on...

GUIDELINES FOR CONVERSION OF COST ACCOUNTANTS FIRMS (PARTNERSHIP/PROPRIETARY) INTO LIMITED LIABILITY PARTNERSHIPS

Section 80-I deduction was denied for the unexpired period when a partnership firm was converted into a private limited company carrying on the same activity. However,...

Capital gains - Conversion of partnership firm into company - exemption - conversion of balance in capital account of a partner into loan - transfer - Section 47A r.w.s...

Liability of GST - GST on notional rent - property of the partner used by the Partnership Firm to carry out the business by the firm at free of rent - GST is liable to...

Evaluation of closing stock - at Cost price or market price - conversion of partnership firm into a private limited company - closing stock of the erstwhile firm cannot...

Vicarious liability of partner of the firm - separate identity of partnership firm - merely the petitioner running a firm, but it is not a legal entity and it cannot be...

Benami transaction or not - The law recognises jointness only in the event of existence of a coparcenary and no coparcenary is pleaded. In relation to partnership also,...

Conversion of the partnership firm into a Pvt. Ltd. company - Violation of the conditions u/s 47(xiii) - part capital was allotted as shares to erstwhile partners and...

Allows conversions into companies from partnership firms, etc. with two or more members provided that in case of less than seven members the conversion would be into a...

Status of the partnership firm treated as AOP - partnership deed is executed on an inadequate stamp paper - Department is accepting all the genuineness of existence of...

In deposit of trading receipts of the firm in the bank account of the partner, the assessee has not violated any of the provisions of the Income Tax Act, even if it may...

Conversion of partnership firm into company versus dissolution of firm - Going concern - there was no cessation of business and therefore the closing stock had to be...

Capital gain - Land transfered by assessee into partnership firm - stock-in-trade is introduced into a firm - valuation of land was done by the assessee himself more as...

Depreciation u/s 32 - conversion of partnership firm into private limited company - assessee is entitled to depreciation on the enhanced cost at which the assessee has...

Quick Updates: