Due date for submission of ITR-V for A.Y. 2010-11 extended to 31.10.2011 or 120 days from date of upload whichever is later

0 comments Wednesday, September 7, 2011
As per the information provided on the efiling portal of income tax department the due date for submission of ITR-V for A.Y. 2010-11 has been extended upto 31.10.2011 or 120 days from the date of uploading of ITR, whichever is later.


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Piston Rings are declared goods under CST Act-P&H HC

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Facts: The assessee is a taxable person under the provisions of the Punjab VAT Act, 2005 and is manufacturing and selling pistons and piston rings used in automobiles. For the year in question, the assessee calculated and paid tax @ 4% by treating the goods in question to be ‘declared goods’. The Assessing Authority did not accept the classification claimed by the assessee and held the goods to be ‘automobile parts’ falling in residue entry taxable @ 12.5%.  
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