Archive for December, 2008

CIT Vs. Arthusa Offshore Company (Uttarakhand)- ITAT has erred in law in holding that word 'tax' does not include “surcharge” for the purposes of Clause (2) of Article 14 of the Double Taxation Avoidance Agreement with USA, and in upholding the decision of the CIT(Appeals), reducing the tax rate applicable to assessee NRC at 60 per cent instead of 65 per cent applied by the AO Full Article

Whether the High Court was entitled to condone the delay of 16 days in filing the Reference Application by the Commissioner under Section 35H(1) of the Central Excise Act, 1944? We direct the Office to keep this matter before the Hon’ble the Chief Justice for appropriate directions referring this matter to a larger Bench of [...] Full Article

A new procedure has been prescribed for the payment of taxes, fees and returns by the dealers or employers seeking registration or not registered or not required to registered under MVAT Act vide Trade Circular 42-T of 2008 dated 26th December 2008. The main features of the new procedure are - * The new procedure [...] Full Article

Deadline of 31st December, 2008 for completion of minimum 20 CPE hours of structured learning for 2008 extended up to 31st January, 2009.Other details follow. Full Article

As rightly pointed out by Shri Pardiwalla, even a promise to render services at a future date would entitle the assessee for deduction u/s 80-O in view of the specific wordings in the section. Full Article

The IT authority does not assume any power to enter the business premises/Office of the CA/Lawyer/Tax Practitioner to conduct survey under section 133A of IT Act in connection with survey of the premises of their client unless the client state in the course of survey that his books of account/documents and records are kept in the office of his CA/ Lawyer/Tax Practitioner. Full Article

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