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	<title>TaxGuru</title>
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	<link>http://taxguru.in</link>
	<description>Complete Tax Solution</description>
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		<title>S. 80HHC &#8211; SC reverses Bomaby HC judgment in Kalpataru case, DEPB Face value covered U/s. 28(iiib)</title>
		<link>http://taxguru.in/income-tax-case-laws/section-80hhc-sc-reverses-bomaby-hc-judgment-kalpataru-colours-chemicals-depb-face-covered-28iiib.html</link>
		<comments>http://taxguru.in/income-tax-case-laws/section-80hhc-sc-reverses-bomaby-hc-judgment-kalpataru-colours-chemicals-depb-face-covered-28iiib.html#comments</comments>
		<pubDate>Thu, 09 Feb 2012 03:55:12 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Income Tax Case Laws]]></category>
		<category><![CDATA[bombay high court]]></category>
		<category><![CDATA[book scheme]]></category>
		<category><![CDATA[cash assistance]]></category>
		<category><![CDATA[CIT Vs. Kalpataru Colours and Chemicals]]></category>
		<category><![CDATA[customs duty]]></category>
		<category><![CDATA[Deduction under Section 80HHC]]></category>
		<category><![CDATA[depb]]></category>
		<category><![CDATA[DEPB entitlement pass book]]></category>
		<category><![CDATA[DEPB sale proceeds]]></category>
		<category><![CDATA[depb scheme]]></category>
		<category><![CDATA[export turnover]]></category>
		<category><![CDATA[face value]]></category>
		<category><![CDATA[Kalpataru Colours and Chemicals]]></category>
		<category><![CDATA[section 80HHC]]></category>
		<category><![CDATA[self consumption]]></category>
		<category><![CDATA[supreme court judgements]]></category>
		<category><![CDATA[Topman Exports]]></category>

		<guid isPermaLink="false">http://taxguru.in/?p=47544</guid>
		<description><![CDATA[CIT vs Kalpataru Colours and Chemicals (SC) - Supreme Court has on 08.02.2012 reversed Bombay High Court Judgment in the case of CIT vs Kalpataru Colours and Chemicals  and confirming the decision of Special bench of ITAT Mumbai in the case of Topman Exports vs. ITO  held as follows:-  Objective of DEPB scheme is to neutralize the incidence of customs duty on the import content of the export products. Hence, it has direct nexus with the cost of the imports made by an exporter for manufacturing the export products.]]></description>
		<wfw:commentRss>http://taxguru.in/income-tax-case-laws/section-80hhc-sc-reverses-bomaby-hc-judgment-kalpataru-colours-chemicals-depb-face-covered-28iiib.html/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Meaning of the expression ‘gross amount’ appearing in Rule 3(1) of the Works Contract (Composition Scheme for Payment of Service Tax) Rules, 2007, as it stood prior to 07th day of July 2009 &#8211; regarding</title>
		<link>http://taxguru.in/service-tax/meaning-expression-gross-amount-appearing-rule-31-works-contract-composition-scheme-payment-service-tax-rules-2007-stood-prior-07th-day-july-2009.html</link>
		<comments>http://taxguru.in/service-tax/meaning-expression-gross-amount-appearing-rule-31-works-contract-composition-scheme-payment-service-tax-rules-2007-stood-prior-07th-day-july-2009.html#comments</comments>
		<pubDate>Thu, 09 Feb 2012 03:50:21 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Service Tax]]></category>
		<category><![CDATA[service tax notifications]]></category>

		<guid isPermaLink="false">http://taxguru.in/?p=47543</guid>
		<description><![CDATA[Circular No. 150/1/2012-ST - Reference has been received from a field formation seeking clarification as to whether ‘gross amount’, for the purpose of payment of service tax under the Works Contract Composition Scheme, included the value of free of cost supplies, for the period prior to 07/07/2009.    ]]></description>
		<wfw:commentRss>http://taxguru.in/service-tax/meaning-expression-gross-amount-appearing-rule-31-works-contract-composition-scheme-payment-service-tax-rules-2007-stood-prior-07th-day-july-2009.html/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>SEBI amends Equity Listing Agreement &#8211; Amendment in Clause 40A, 43, 43A</title>
		<link>http://taxguru.in/sebi/sebi-amends-equity-listing-agreement-amendment-clause-40a-43-43a.html</link>
		<comments>http://taxguru.in/sebi/sebi-amends-equity-listing-agreement-amendment-clause-40a-43-43a.html#comments</comments>
		<pubDate>Thu, 09 Feb 2012 02:55:02 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[SEBI]]></category>
		<category><![CDATA[SEBI notifications]]></category>

		<guid isPermaLink="false">http://taxguru.in/?p=47547</guid>
		<description><![CDATA[a. Amendment to Clause 40A -In addition to the existing methods which listed company can adopt to achieve minimum public shareholding, the listed company may also achieve the minimum level of public shareholding through Institutional Placement Programme (IPP) in terms of Chapter VIII-A of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009, as amended. Further, sale of shares by promoters through stock exchanges shall be now carried out in terms of SEBI circular CIR/MRD/DP/05/2012 dated February 1, 2012.]]></description>
		<wfw:commentRss>http://taxguru.in/sebi/sebi-amends-equity-listing-agreement-amendment-clause-40a-43-43a.html/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Correction in OLTAS / Income Tax / TDS / Direct Tax Challan, Type of Correction and Period for correction</title>
		<link>http://taxguru.in/income-tax/correction-oltas-income-tax-tds-direct-tax-challan-type-correction-period-correction.html</link>
		<comments>http://taxguru.in/income-tax/correction-oltas-income-tax-tds-direct-tax-challan-type-correction-period-correction.html#comments</comments>
		<pubDate>Thu, 09 Feb 2012 01:54:46 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Income Tax]]></category>
		<category><![CDATA[correction in tax payment challan]]></category>
		<category><![CDATA[Estate Duty]]></category>
		<category><![CDATA[expenditure tax]]></category>
		<category><![CDATA[f Hotel Receipts Tax]]></category>
		<category><![CDATA[Gift-tax]]></category>
		<category><![CDATA[Wealth Tax]]></category>

		<guid isPermaLink="false">http://taxguru.in/?p=44740</guid>
		<description><![CDATA[Correction in OLTAS challan i.e. in Challan No. ITNS 280 related to payment of Income tax and Corporation tax, ITNS 281 for depositing Tax Deducted at Source / Tax Collected at Source (TDS/TCS) from corporates or non-corporates , ITNS 282 for payment of Hotel Receipts Tax, Estate Duty, Wealth Tax, Gift-tax, Expenditure Tax and Other direct taxes and ITNS 283 or payment of Banking Cash Transaction Tax and Fringe Benefits Tax.]]></description>
		<wfw:commentRss>http://taxguru.in/income-tax/correction-oltas-income-tax-tds-direct-tax-challan-type-correction-period-correction.html/feed/</wfw:commentRss>
		<slash:comments>1</slash:comments>
		</item>
		<item>
		<title>Depreciation allowed on intangible assets acquired on or after 1st April, 1998 &#8211; Expenditure on acquiring database cannot be claimed as revenue expenditure</title>
		<link>http://taxguru.in/income-tax-case-laws/depreciation-allowed-intangible-assets-acquired-1st-april-1998-expenditure-acquiring-database-claimed-revenue-expenditure.html</link>
		<comments>http://taxguru.in/income-tax-case-laws/depreciation-allowed-intangible-assets-acquired-1st-april-1998-expenditure-acquiring-database-claimed-revenue-expenditure.html#comments</comments>
		<pubDate>Wed, 08 Feb 2012 23:28:55 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Income Tax Case Laws]]></category>
		<category><![CDATA[ITAT judgments]]></category>

		<guid isPermaLink="false">http://taxguru.in/?p=47555</guid>
		<description><![CDATA[ACIT Vs American Express Services India Ltd. (ITAT Mumbai) - We find that it is not in dispute that the transaction between the assessee and American Express Bank, inter alia, including for purchase of Acquired Business Database were subjected to transfer pricing scrutiny and, the Transfer Pricing Officer vide order dated 15.2.2005 has accepted the transaction without making any adjustment to the arms length price. In this view of the matter and as held by Hon’ble Delhi High Court in the case of CIT vs. Oracle India Pvt Ltd (243 CTR 103), when the price fixed is acceptable as arms length price by Transfer Pricing Officer (TPO) under section 92 of the Act, it cannot be open to the Assessing Officer to disturb that price so paid as unreasonable.]]></description>
		<wfw:commentRss>http://taxguru.in/income-tax-case-laws/depreciation-allowed-intangible-assets-acquired-1st-april-1998-expenditure-acquiring-database-claimed-revenue-expenditure.html/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Assessee to whom DTAA applies, the provisions of Income Act shall applied to the extent they are more beneficial to the assessee</title>
		<link>http://taxguru.in/income-tax-case-laws/assessee-dtaa-applies-provisions-income-act-applied-extent-beneficial-assessee.html</link>
		<comments>http://taxguru.in/income-tax-case-laws/assessee-dtaa-applies-provisions-income-act-applied-extent-beneficial-assessee.html#comments</comments>
		<pubDate>Wed, 08 Feb 2012 23:21:01 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Income Tax Case Laws]]></category>
		<category><![CDATA[ITAT judgments]]></category>

		<guid isPermaLink="false">http://taxguru.in/?p=47554</guid>
		<description><![CDATA[Intelsat Corporation Vs. ADIT (International Taxation) -  We have considered the facts of the case and submissions made before us. We have already mentioned that there is a distinguishable feature namely that the assessee has received payments from persons residents in India. However, the receipts have been taxed u/s 9(1)(vii), Explanation 2, Clause (vi) thereunder. The decision in the case of Asia Satellite Telecommunications Company Limited is to the contrary and in favour of the assessee. It is also a matter of fact on record that the assessee is a tax resident of USA and, therefore, the provisions contained in the DTAA are applicable. ]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Loss from windmill business can be set off against other heads of income</title>
		<link>http://taxguru.in/income-tax-case-laws/loss-windmill-business-set-heads-income.html</link>
		<comments>http://taxguru.in/income-tax-case-laws/loss-windmill-business-set-heads-income.html#comments</comments>
		<pubDate>Wed, 08 Feb 2012 22:48:56 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Income Tax Case Laws]]></category>
		<category><![CDATA[ITAT judgments]]></category>

		<guid isPermaLink="false">http://taxguru.in/?p=47552</guid>
		<description><![CDATA[DCIT Vs. M/s. Bellad &#038; Co. (ITAT Bangalore) -  The assessee is a partnership firm dealing in automobiles and Sony products and also into generation of electricity from windmills. The assessee filed its return of income for AY 2007-08 declaring income of Rs.11,52,410/- after setting off of depreciation loss  pertaining to windmill installed during the financial year relevant to assessment year under appeal. The AO, in the assessment completed, disallowed loss of Rs. 1,22,30,626/-. ]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Bank Guarantee Commission not liable to TDS U/s. 194H as it is is not a transaction between principal and agent</title>
		<link>http://taxguru.in/income-tax-case-laws/bank-guarantee-commission-liable-tds-194h-transaction-principal-agent.html</link>
		<comments>http://taxguru.in/income-tax-case-laws/bank-guarantee-commission-liable-tds-194h-transaction-principal-agent.html#comments</comments>
		<pubDate>Wed, 08 Feb 2012 22:40:14 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Income Tax Case Laws]]></category>
		<category><![CDATA[ITAT judgments]]></category>
		<category><![CDATA[section 194H]]></category>
		<category><![CDATA[Section 201(1)]]></category>
		<category><![CDATA[Section 201(1A)]]></category>

		<guid isPermaLink="false">http://taxguru.in/?p=47542</guid>
		<description><![CDATA[Kotak Securities Limited vs. DCIT (ITAT Mumbai) -  When we look at the connotations of expression ‘commission or brokerage’ in its cognate sense, as in the light of the principle of noscitur a sociis as we are obliged to, in our considered view, scope of expression ‘commission’, for this purpose, will be confined to ‘an allowance, recompense or reward made to agents, factors and brokers and others for effecting sales and carrying out business transactions’ and shall not extend to the payments, such as ‘bank guarantee commission’, which are in the nature of fees for services rendered or product offered by the recipient of such payments on principal to principal basis. ]]></description>
		<wfw:commentRss>http://taxguru.in/income-tax-case-laws/bank-guarantee-commission-liable-tds-194h-transaction-principal-agent.html/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Once tax has not been deducted and even if such tax has been paid by the deductee, disallowance u/s.40[a][ia] can still be made.</title>
		<link>http://taxguru.in/income-tax-case-laws/tax-deducted-tax-paid-deductee-disallowance-us40aia.html</link>
		<comments>http://taxguru.in/income-tax-case-laws/tax-deducted-tax-paid-deductee-disallowance-us40aia.html#comments</comments>
		<pubDate>Wed, 08 Feb 2012 17:16:37 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Income Tax Case Laws]]></category>
		<category><![CDATA[ITAT judgments]]></category>

		<guid isPermaLink="false">http://taxguru.in/?p=47541</guid>
		<description><![CDATA[ACIT vs. DICGC Ltd (ITAT Mumbai) - Sec.201 deals with the mode of recovery of taxes and once tax due has already been paid then the same demand cannot be enforced again. However, sec.40[a][ia] deals with the disallowance of expenditure itself. Therefore, merely by invoking the Heydon's principle the statutory provisions cannot be rendered redundant. Therefore, we are of the opinion that once tax has not been deducted and even if such tax has been paid by the deductee, disallowance u/s.40[a][ia] can still be made.]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>For section115JA/JB Deduction U/s. 80HHC to be computed with reference to the net profits in the profit and loss account &#8211; SC</title>
		<link>http://taxguru.in/income-tax-case-laws/section115jajb-deduction-80hhc-computed-reference-net-profits-profit-loss-account-sc.html</link>
		<comments>http://taxguru.in/income-tax-case-laws/section115jajb-deduction-80hhc-computed-reference-net-profits-profit-loss-account-sc.html#comments</comments>
		<pubDate>Wed, 08 Feb 2012 17:03:30 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Income Tax Case Laws]]></category>
		<category><![CDATA[section 80HHC]]></category>
		<category><![CDATA[section115JA]]></category>
		<category><![CDATA[section115JB]]></category>
		<category><![CDATA[supreme court judgements]]></category>

		<guid isPermaLink="false">http://taxguru.in/?p=47540</guid>
		<description><![CDATA[Al-Kabeer Exports Ltd vs. CIT (Supreme Court)- Reversing the High Court Decision and restoring the Tribunal Special bench Decision ,  It was held that in view of  SC Court&#8217;s Order in the case of Commissioner of Income-Tax vs. Bhari Information Technology Systems (P) Ltd. [S.L.P. (C) No.33750 of 2009] Tribunal was  justified in coming to [...]]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>CIT (A) Guilty of ‘Contempt’ For Not Following ITAT Verdict</title>
		<link>http://taxguru.in/income-tax-case-laws/cit-guilty-contempt-itat-verdict.html</link>
		<comments>http://taxguru.in/income-tax-case-laws/cit-guilty-contempt-itat-verdict.html#comments</comments>
		<pubDate>Wed, 08 Feb 2012 16:46:34 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Income Tax Case Laws]]></category>
		<category><![CDATA[ITAT judgments]]></category>

		<guid isPermaLink="false">http://taxguru.in/?p=47539</guid>
		<description><![CDATA[Cargo Handling Private Workers Pool vs. DCIT (ITAT Vizag) - Since the Income tax Appellate Tribunal is exercising judicial functions, it is now settled that it has all powers of Court, i.e. it can issue summons and exercise all the powers vested in the Income tax authorities under section 131 of the Income tax Act. Hence any proceeding before the Income tax Appellate Tribunal shall be deemed to be judicial proceedings.]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Book Rail Tickets 120 day in advance w.e.f. March 10, 2012</title>
		<link>http://taxguru.in/government-policy/book-rail-tickets-120-day-advance-wef-march-10-2012.html</link>
		<comments>http://taxguru.in/government-policy/book-rail-tickets-120-day-advance-wef-march-10-2012.html#comments</comments>
		<pubDate>Wed, 08 Feb 2012 14:24:19 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Government Policy]]></category>
		<category><![CDATA[Rail Tickets]]></category>

		<guid isPermaLink="false">http://taxguru.in/?p=47538</guid>
		<description><![CDATA[ The Ministry of Railways has decided to increase the advance reservation period for booking reserved train tickets from existing 90 days to 120 days on experimental basis (excluding the date of journey) w.e.f. March 10, 2012.]]></description>
		<wfw:commentRss>http://taxguru.in/government-policy/book-rail-tickets-120-day-advance-wef-march-10-2012.html/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Prepare Form-16 for Fy 2011-2012 of upto 100 or 25 employees in one file</title>
		<link>http://taxguru.in/income-tax/master-form16-fy-20112012-prepare-time-form16-100-employees.html</link>
		<comments>http://taxguru.in/income-tax/master-form16-fy-20112012-prepare-time-form16-100-employees.html#comments</comments>
		<pubDate>Wed, 08 Feb 2012 11:00:10 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Files]]></category>
		<category><![CDATA[Income Tax]]></category>
		<category><![CDATA[pranab mukherjee]]></category>

		<guid isPermaLink="false">http://taxguru.in/?p=44550</guid>
		<description><![CDATA[Master Form-16 New FY 11-12 for Up to 100 Employees.  Download File to Prepare Form 16 of upto 25 Employees with Indian Rupee Font.]]></description>
		<wfw:commentRss>http://taxguru.in/income-tax/master-form16-fy-20112012-prepare-time-form16-100-employees.html/feed/</wfw:commentRss>
		<slash:comments>1</slash:comments>
		</item>
		<item>
		<title>Can excess TDS Paid for last Financial year can be adjusted against current financial year</title>
		<link>http://taxguru.in/income-tax/excess-tds-paid-financial-year-adjusted-current-financial-year.html</link>
		<comments>http://taxguru.in/income-tax/excess-tds-paid-financial-year-adjusted-current-financial-year.html#comments</comments>
		<pubDate>Wed, 08 Feb 2012 09:15:16 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Income Tax]]></category>
		<category><![CDATA[excess TDs refund]]></category>
		<category><![CDATA[TDS refund]]></category>

		<guid isPermaLink="false">http://taxguru.in/?p=47502</guid>
		<description><![CDATA[The answer is 'NO' there is no such provisions in the Income tax Act /rules to adjust the same by assesee himself. If the excess is related to perriod up to 31.03.2010 then Assesssee can claim refund of the same as per the provisions of  CIRCULAR NO. 2/2011 [F.NO. 385/25/2010-IT(B)], DATED 27-4-2011 . Detailed analysis of the same can be seen on the link given below:- ]]></description>
		<wfw:commentRss>http://taxguru.in/income-tax/excess-tds-paid-financial-year-adjusted-current-financial-year.html/feed/</wfw:commentRss>
		<slash:comments>1</slash:comments>
		</item>
		<item>
		<title>CBEC Achieves Nearly 80.74% of Budget Estimate Up-to January, 2012 in the Current Fiscal</title>
		<link>http://taxguru.in/excise-duty/cbec-achieves-8074-budget-estimate-upto-january-2012-current-fiscal.html</link>
		<comments>http://taxguru.in/excise-duty/cbec-achieves-8074-budget-estimate-upto-january-2012-current-fiscal.html#comments</comments>
		<pubDate>Wed, 08 Feb 2012 04:02:58 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Excise Duty]]></category>
		<category><![CDATA[CBEC]]></category>
		<category><![CDATA[Indirect Tax Collection Target]]></category>

		<guid isPermaLink="false">http://taxguru.in/?p=47549</guid>
		<description><![CDATA[    The Central Board of Excise and Customs (CBEC) has been able to achieve nearly 80.74% of Budget Estimate up-to the month of January, 2012 in the current fiscal year. At the present rate of growth, CBEC should be able to achieve the target of Rs.3,92,908 Crores. ]]></description>
		<wfw:commentRss>http://taxguru.in/excise-duty/cbec-achieves-8074-budget-estimate-upto-january-2012-current-fiscal.html/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Direct Tax Collection During April-January of the Current Fiscal up by 14.57 Percent</title>
		<link>http://taxguru.in/income-tax/direct-tax-collection-apriljanuary-current-fiscal-1457-percent.html</link>
		<comments>http://taxguru.in/income-tax/direct-tax-collection-apriljanuary-current-fiscal-1457-percent.html#comments</comments>
		<pubDate>Wed, 08 Feb 2012 04:01:51 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Income Tax]]></category>
		<category><![CDATA[Gross direct tax collection]]></category>

		<guid isPermaLink="false">http://taxguru.in/?p=47548</guid>
		<description><![CDATA[Gross direct tax collection during April-January of the current fiscal was up by 14.57 percent at Rs.4,25,274 crore as against Rs.3,71,188 crore in the same period last fiscal. While gross collection of corporate taxes was up 11.87 percent (Rs.2,85,837 crore against Rs.2,55,514 crore last year), gross collection of personal income tax was up by 20.43 percent (Rs.1,38,730 crore against Rs.1,15,192 crore last year). Net direct tax collections stood at Rs.3,46,959 crore, up from Rs.3,17,500 crore in the same period last fiscal, registering a growth of 9.28 percent. ]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Tips to save Income tax for Salaried Person</title>
		<link>http://taxguru.in/income-tax/tips-to-save-income-tax-for-salaried-person.html</link>
		<comments>http://taxguru.in/income-tax/tips-to-save-income-tax-for-salaried-person.html#comments</comments>
		<pubDate>Wed, 08 Feb 2012 03:40:05 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Income Tax]]></category>
		<category><![CDATA[Income Tax Tips]]></category>
		<category><![CDATA[Income Tax Tips for Salaried Persons]]></category>

		<guid isPermaLink="false">http://www.taxguru.in/?p=2822</guid>
		<description><![CDATA[Often, investment for most individuals begins and ends with tax planning. Although it is pertinent to avail tax breaks, this should not be the sole focus. Start by jotting down your key financial objectives, the tentative time of money requirement and the corpus needed to achieve those goals. One can use tax saving investments effectively, to achieve financial goals. For example, one can take a children’s plan that also provides tax benefit. Consider the impact of inflation on your needs. After your first few working years, as income goes up, it is wise to invest beyond one’s tax saving investments to achieve your goals. Also, evaluate the life cover requirement, while planning for your taxes.]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Sebi to give MCA list of over 500 cos who violated Collective Investment Scheme (CIS) rules</title>
		<link>http://taxguru.in/sebi/sebi-give-mca-list-500-cos-violated-collective-investment-scheme-cis-rules.html</link>
		<comments>http://taxguru.in/sebi/sebi-give-mca-list-500-cos-violated-collective-investment-scheme-cis-rules.html#comments</comments>
		<pubDate>Wed, 08 Feb 2012 03:25:43 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[SEBI]]></category>
		<category><![CDATA[CIS]]></category>
		<category><![CDATA[MCA]]></category>

		<guid isPermaLink="false">http://taxguru.in/?p=47550</guid>
		<description><![CDATA[Market regulator Sebi has decided to share with the Ministry of Corporate Affairs the names of over 500 companies, which have garnered money from investors in violation of its Collective Investment Scheme (CIS) rules.  Sebi would also give the names of the directors of such entities to the MCA, so that necessary actions can be taken to prevent these companies and persons from being associated with any new company, a senior official said. ]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>SC directs Speak Asia to deposit investos Money</title>
		<link>http://taxguru.in/general-info/sc-directs-speak-asia-deposit-investos-money.html</link>
		<comments>http://taxguru.in/general-info/sc-directs-speak-asia-deposit-investos-money.html#comments</comments>
		<pubDate>Wed, 08 Feb 2012 03:08:37 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[General Info]]></category>
		<category><![CDATA[Speak Asia]]></category>

		<guid isPermaLink="false">http://taxguru.in/?p=47497</guid>
		<description><![CDATA[The Supreme Court has directed the Singapore-based firm Speak Asia, accused of duping investors to the tune of Rs 1,300 crore, to deposit before it the amount payable to investors and concerned authorities. A bench of justices Dalveer Bhandari and Dipak Verma asked the mediator, appointed by it earlier, to ascertain the exact amount which is payable by Speak Asia to the investors and other authorities and directed the company to deposit the same within two weeks after that. ]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Amends Notification No. 39/96-Customs, dated the 23rd July, 1996</title>
		<link>http://taxguru.in/custom-duty/amends-notification-3996customs-dated-23rd-july-1996.html</link>
		<comments>http://taxguru.in/custom-duty/amends-notification-3996customs-dated-23rd-july-1996.html#comments</comments>
		<pubDate>Wed, 08 Feb 2012 03:06:48 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Custom Duty]]></category>
		<category><![CDATA[Custom Duty Notifications]]></category>

		<guid isPermaLink="false">http://taxguru.in/?p=47545</guid>
		<description><![CDATA[Notification  No.5 /2012 - Customs - In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby makes the following further amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 39/96-Customs, dated the 23rd July, 1996, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 291(E), dated the 23rd July, 1996, namely:- ]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>RBI asks banks to refund unclaimed deposits estimated over 1700 crore rupees</title>
		<link>http://taxguru.in/rbi/rbi-asks-banks-refund-unclaimed-deposits-estimated-1700-crore-rupees.html</link>
		<comments>http://taxguru.in/rbi/rbi-asks-banks-refund-unclaimed-deposits-estimated-1700-crore-rupees.html#comments</comments>
		<pubDate>Wed, 08 Feb 2012 02:51:09 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[RBI]]></category>
		<category><![CDATA[unclaimed deposits]]></category>

		<guid isPermaLink="false">http://taxguru.in/?p=47493</guid>
		<description><![CDATA[The Reserve Bank of India, RBI on Tuesday asked banks to locate and refund unclaimed deposits estimated at over 1700 crore rupees. In an instruction to banks, the RBI said that banks in public interest must play a more pro-active role by finding the whereabouts of the account holders of unclaimed deposits and inoperative accounts. ]]></description>
		<wfw:commentRss>http://taxguru.in/rbi/rbi-asks-banks-refund-unclaimed-deposits-estimated-1700-crore-rupees.html/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>FEMA &#8211; Claim for interest in the nature of compensation for wrongful retention of money is not maintainable</title>
		<link>http://taxguru.in/fema/fema-claim-interest-nature-compensation-wrongful-retention-money-maintainable.html</link>
		<comments>http://taxguru.in/fema/fema-claim-interest-nature-compensation-wrongful-retention-money-maintainable.html#comments</comments>
		<pubDate>Wed, 08 Feb 2012 02:43:14 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[FEMA]]></category>
		<category><![CDATA[high court judgments]]></category>

		<guid isPermaLink="false">http://taxguru.in/?p=47492</guid>
		<description><![CDATA[Directorate of Enforcement Vs. Subhash Muljimal Gandhi ( Delhi HC)-  that interest at the rate of 6% per annum under Rule 8 could have been awarded to the respondent on the seized Indian currency only. The learned Single Judge has however applying the said Rule also awarded interest on the seized foreign currency and which cannot be sustained. The Division Bench of this Court in Neeraj Kumar (supra) has held that a writ remedy cannot be availed to circumvent the non grant of interest by the authority, Commissioner, Central Excise in that case. It was also observed that in any event a writ petition for award of interest simplicitor was not maintainable in view of the availability of alternate remedy by way of appeal or by way of a suit. . Else the position is squarely covered by Suganmal and M/s Orient Enterprise (supra) and this writ petition in the nature of enforcement of a civil liability that is claim for interest in the nature of compensation for wrongful retention of money is not maintainable. It is not as if payment of interest under Rule 8 (ii) was mandatory (as under Rule 8(i)) and which could be enforced by way of a writ petition. The impugned judgment awarding interest under Rule 8(i) qua Indian currency also can thus not be sustained. ]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>It is not permissible for the executing authority to look beyond the order it is required to execute</title>
		<link>http://taxguru.in/income-tax-case-laws/permissible-executing-authority-order-required-execute.html</link>
		<comments>http://taxguru.in/income-tax-case-laws/permissible-executing-authority-order-required-execute.html#comments</comments>
		<pubDate>Wed, 08 Feb 2012 01:52:34 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Income Tax Case Laws]]></category>
		<category><![CDATA[ITAT judgments]]></category>
		<category><![CDATA[section 263]]></category>

		<guid isPermaLink="false">http://taxguru.in/?p=47490</guid>
		<description><![CDATA[Oriental Bank of Commerce (Delhi HC) - We have considered the rival contentions and gone through the record carefully. The order passed under Section 263 became final. Learned Commissioner while exercising the powers under Section 263 has decided the issue himself and directed the Assessing Officer to re-compute the income on the basis of his decision. He has not relegated the issue to the file of the Assessing Officer for re-adjudication. ]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Excise Duty- Value Based Exemption Scheme for Small Scale Industries</title>
		<link>http://taxguru.in/excise-duty/excise-duty-based-exemption-scheme-small-scale-industries.html</link>
		<comments>http://taxguru.in/excise-duty/excise-duty-based-exemption-scheme-small-scale-industries.html#comments</comments>
		<pubDate>Wed, 08 Feb 2012 01:08:17 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Excise Duty]]></category>
		<category><![CDATA[Articles Written By CA Lalit Munoyat]]></category>
		<category><![CDATA[branded ready made garments]]></category>
		<category><![CDATA[Excise Duty on Readymade Garments]]></category>
		<category><![CDATA[Readymade Garments]]></category>

		<guid isPermaLink="false">http://taxguru.in/?p=39772</guid>
		<description><![CDATA[   The Finance Bill-2011 levied Excise duty at the rate of 10%  on ready-made garments and made-up articles of textiles when they bear or are sold under a brand name. Hitherto, ready-made garments and made-up articles were exempt from Central Excise duty on the condition that no credit of duty on inputs is taken by the manufacturer. If credit were taken, the applicable rate was 4% for goods of cotton, not containing any other textile material and 10% for others. By the proposed amendment this concessional treatment will apply only to those goods as above stated not bearing a brand name or not sold under a brand name. For such goods not bearing brand name ,therefore, the optional duty regime would continue. In the case of ready-made garments and made-up articles bearing a brand name or sold under a brand name, no such option would be available and a duty of 10% would be payable regardless of the composition of the item/article.]]></description>
		<wfw:commentRss>http://taxguru.in/excise-duty/excise-duty-based-exemption-scheme-small-scale-industries.html/feed/</wfw:commentRss>
		<slash:comments>47</slash:comments>
		</item>
		<item>
		<title>Corporate India wants no change in tax rates in 2012-13 Budget</title>
		<link>http://taxguru.in/income-tax/corporate-india-change-tax-rates-201213-budget.html</link>
		<comments>http://taxguru.in/income-tax/corporate-india-change-tax-rates-201213-budget.html#comments</comments>
		<pubDate>Wed, 08 Feb 2012 00:47:30 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Income Tax]]></category>
		<category><![CDATA[Budget 2012-13]]></category>
		<category><![CDATA[corporate tax]]></category>
		<category><![CDATA[dtc]]></category>
		<category><![CDATA[ficci]]></category>
		<category><![CDATA[mat]]></category>
		<category><![CDATA[taxation]]></category>

		<guid isPermaLink="false">http://taxguru.in/?p=47498</guid>
		<description><![CDATA[Reeling under the impact of global slowdown and a high interest rate regime, India Inc on Monday demanded that tax rates be retained at existing levels even as finance minister Pranab Mukherjee expressed concerns about challenges facing the economy.In their customary pre-Budget meeting with Mukherjee, industry leaders also demanded that healthcare services be kept outside service tax ambit, and privatise coal mines. ]]></description>
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		<slash:comments>1</slash:comments>
		</item>
		<item>
		<title>Union Budget on 16th March and Rail Budget on March 14</title>
		<link>http://taxguru.in/finance/union-budget-16th-march-rail-budget-march-14.html</link>
		<comments>http://taxguru.in/finance/union-budget-16th-march-rail-budget-march-14.html#comments</comments>
		<pubDate>Tue, 07 Feb 2012 23:00:33 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Finance]]></category>
		<category><![CDATA[union budget]]></category>

		<guid isPermaLink="false">http://taxguru.in/?p=47495</guid>
		<description><![CDATA[The Union Budget, delayed because of elections in five states, will now be presented on March 16, four days after Parliament will begin its Budget session. The budget session, which normally commences in the third week of February, will start on March 12 with President Pratibha Patil addressing the joint sitting of members of both the Houses of Parliament. ]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Excise Duty on Readymade Garments- The magic figure of exempted turnover of Rs. 8.90 Crore</title>
		<link>http://taxguru.in/excise-duty/excise-duty-readymade-garments-magic-figure-exempted-turnover-rs-890-crore.html</link>
		<comments>http://taxguru.in/excise-duty/excise-duty-readymade-garments-magic-figure-exempted-turnover-rs-890-crore.html#comments</comments>
		<pubDate>Tue, 07 Feb 2012 22:39:20 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Excise Duty]]></category>
		<category><![CDATA[Articles Written By CA Lalit Munoyat]]></category>
		<category><![CDATA[Excise Duty on Readymade Garments]]></category>
		<category><![CDATA[excise on readymade garment]]></category>

		<guid isPermaLink="false">http://taxguru.in/?p=39671</guid>
		<description><![CDATA[While initiating debate on the Finance Bill-2011 the Finance Minister said that the garment traders had criticised the proposed 10 per cent excise duty on readymade garments saying it would hurt the small business. He added. 1)      "To address this concern, I propose to enhance the abatement of 40 per cent to 55 per cent on the retail sale price. 2)      With this relief a unit will continue to be eligible for SSI exemption in 2011-12 even if it had a turnover based on retail sale price of Rs 8.90 crore in the current year", the Minister said. (Current year means 31-03-2011)]]></description>
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		<slash:comments>42</slash:comments>
		</item>
		<item>
		<title>Eligibility to appear in May 2012 Integrated Professional Competence exam(IPCE)</title>
		<link>http://taxguru.in/chartered-accountant/eligibility-2012-integrated-professional-competence-examipce.html</link>
		<comments>http://taxguru.in/chartered-accountant/eligibility-2012-integrated-professional-competence-examipce.html#comments</comments>
		<pubDate>Tue, 07 Feb 2012 17:00:31 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[CA CS ICWA]]></category>
		<category><![CDATA[ICAI]]></category>
		<category><![CDATA[ipce]]></category>

		<guid isPermaLink="false">http://taxguru.in/?p=47486</guid>
		<description><![CDATA[The Council at its 312th meeting held from 25-27 December 2011 passed a Resolution under Regulation 205 to the effect that candidates who register for Integrated Professional Competence Course (IPCC) and complete eight months study course, as on the first day of the month in which examination is held would be eligible to appear in the IPCE to be held in May 2012 examination onwards.]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Amendment in Appendix  &#8211; 30 A relating to Export Obligation Period under Advance Authorization/DFIA Schemes</title>
		<link>http://taxguru.in/dgft/amendment-appendix-30-relating-export-obligation-period-advance-authorizationdfia-schemes.html</link>
		<comments>http://taxguru.in/dgft/amendment-appendix-30-relating-export-obligation-period-advance-authorizationdfia-schemes.html#comments</comments>
		<pubDate>Tue, 07 Feb 2012 16:54:04 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[DGFT]]></category>
		<category><![CDATA[DGFT Notifications]]></category>

		<guid isPermaLink="false">http://taxguru.in/?p=47485</guid>
		<description><![CDATA[Public Notice No.  96 (RE-2010)/2009-2014 Export Obligation Period for import of  silk in any form  is increased from six months to nine months.]]></description>
		<wfw:commentRss>http://taxguru.in/dgft/amendment-appendix-30-relating-export-obligation-period-advance-authorizationdfia-schemes.html/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Assessee has right to plan its affairs in such a manner which may result in payment of least tax possible</title>
		<link>http://taxguru.in/income-tax-case-laws/assessee-plan-affairs-manner-result-payment-tax.html</link>
		<comments>http://taxguru.in/income-tax-case-laws/assessee-plan-affairs-manner-result-payment-tax.html#comments</comments>
		<pubDate>Tue, 07 Feb 2012 10:21:46 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Income Tax Case Laws]]></category>
		<category><![CDATA[high court judgments]]></category>

		<guid isPermaLink="false">http://taxguru.in/?p=47447</guid>
		<description><![CDATA[CIT Vs. Rajan Nanda (Delhi HC) -Every assessee has right to plan its affairs in such a manner which may result in payment of least tax possible, albeit, in conformity with the provisions of Act. It is also permissible to the assessee to take advantage of the gaping holes in the provisions of the Act.  The job of the Court is to simply look at the provisions of the Act and to see whether these provisions allow the assessee to arrange their affairs to ensure lesser payment of tax. ]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>No Penalty for wrong / non furnishing of PAN in TDS return if Asseee files later revised return with Correct PAN</title>
		<link>http://taxguru.in/income-tax-case-laws/penalty-wrong-furnishing-pan-tds-return-asseee-files-revised-return-correct-pan.html</link>
		<comments>http://taxguru.in/income-tax-case-laws/penalty-wrong-furnishing-pan-tds-return-asseee-files-revised-return-correct-pan.html#comments</comments>
		<pubDate>Tue, 07 Feb 2012 09:22:23 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Income Tax Case Laws]]></category>
		<category><![CDATA[ITAT judgments]]></category>
		<category><![CDATA[PAN]]></category>
		<category><![CDATA[section 272B]]></category>
		<category><![CDATA[TAN]]></category>
		<category><![CDATA[TDS]]></category>

		<guid isPermaLink="false">http://taxguru.in/?p=47445</guid>
		<description><![CDATA[ITO (TDS) Panchkula v. Bharat Electronics Ltd. (ITAT Chandigarh) it is apparent from the record that the assessee deducted TDS correctly and revised the PAN and filed revised statement in Form No. 26Q, hence there was sufficient compliance of the provisions of section 139A of the Act. Even otherwise the assessee did not derive any benefit whatsoever, by filing the wrong PANs and PAN was corrected after ascertaining the same from the respective deductees. In our view the assessee has proved that there was reasonable cause for alleged failure and hence no penalty is leviable]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Time to Invest Big in Infrastructure &#8211; Infrastructure Bonds</title>
		<link>http://taxguru.in/income-tax/time-invest-big-infrastructure-infrastructure-bonds.html</link>
		<comments>http://taxguru.in/income-tax/time-invest-big-infrastructure-infrastructure-bonds.html#comments</comments>
		<pubDate>Tue, 07 Feb 2012 07:22:51 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Income Tax]]></category>
		<category><![CDATA[section 80ccf]]></category>
		<category><![CDATA[tax-saving infra bonds]]></category>

		<guid isPermaLink="false">http://taxguru.in/?p=47443</guid>
		<description><![CDATA[Mr. Suneet Maheshwari, CEO of L&#038;T Infrastructure Finance Company Limited which opened Tranche 2 of its tax saving infra bonds, expects huge infrastructure investments in India over the next 5 years . While highlighting the strong future prospects of infrastructure sector in India, he said that Infrastructure bonds are a boon to the economy and the tax payers.]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Provisions written back can not be added to income if provision was not allowed in the earlier year</title>
		<link>http://taxguru.in/income-tax-case-laws/provisions-written-added-income-provision-allowed-earlier-year.html</link>
		<comments>http://taxguru.in/income-tax-case-laws/provisions-written-added-income-provision-allowed-earlier-year.html#comments</comments>
		<pubDate>Tue, 07 Feb 2012 04:10:26 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Income Tax Case Laws]]></category>
		<category><![CDATA[high court judgments]]></category>
		<category><![CDATA[section 41(1)]]></category>

		<guid isPermaLink="false">http://taxguru.in/?p=47491</guid>
		<description><![CDATA[CIT VS. Mohan Meakin Ltd. (Delhi HC) - In the case of the uncashed cheques amount to Rs.1,97,758/-, the finding of the Tribunal is that that there was no claim for deduction in any of the earlier years and, therefore, the amount cannot be added under Section 41(1) of the Act. It is not in dispute, as it cannot be, that the amount of uncashed cheques was not allowed as deduction in any of the earlier assessment years. As per the assessee this represents the cheques received and remaining on hand on the last day of the accounting period. Tribunal has accepted this stand. The Assessing Officer and the CIT(A) have not stated why the stand of the assessee was not acceptable. Revenue has also not stated and averred that the assessment order now passed, this aspect was not considered and examined. In these circumstances, Section 41(1) can hardly have any application. We accordingly, uphold the decision of the Tribunal deleting the addition. ]]></description>
		<wfw:commentRss>http://taxguru.in/income-tax-case-laws/provisions-written-added-income-provision-allowed-earlier-year.html/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>If relationship of principal and an agent exsit then TDS is deductible on Commission</title>
		<link>http://taxguru.in/income-tax-case-laws/relationship-principal-agent-exsit-tds-deductible-commission.html</link>
		<comments>http://taxguru.in/income-tax-case-laws/relationship-principal-agent-exsit-tds-deductible-commission.html#comments</comments>
		<pubDate>Tue, 07 Feb 2012 04:06:22 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Income Tax Case Laws]]></category>
		<category><![CDATA[high court judgments]]></category>

		<guid isPermaLink="false">http://taxguru.in/?p=47489</guid>
		<description><![CDATA[CIT Vs.  Mother Dairy India Ltd. (Delhi HC) -  It is a well-settled proposition that if the property in the goods is transferred and gets vested in the concessionaire at the time of the delivery then he is thereafter liable for the same and would be dealing with them in his own right as a principal and not as an agent of the Dairy. The clauses of the agreements show that there is an actual sale, and not mere delivery of the milk and the other products to the concessionaire.]]></description>
		<wfw:commentRss>http://taxguru.in/income-tax-case-laws/relationship-principal-agent-exsit-tds-deductible-commission.html/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>No Service tax payable if benefit of service accrued to the foreign clients outside the Indian territory</title>
		<link>http://taxguru.in/service-tax/service-tax-payable-benefit-service-accrued-foreign-clients-indian-territory.html</link>
		<comments>http://taxguru.in/service-tax/service-tax-payable-benefit-service-accrued-foreign-clients-indian-territory.html#comments</comments>
		<pubDate>Tue, 07 Feb 2012 04:03:42 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Service Tax]]></category>
		<category><![CDATA[Cestat judgments]]></category>

		<guid isPermaLink="false">http://taxguru.in/?p=47481</guid>
		<description><![CDATA[In the instant case, the services rendered by the appellant were consumed abroad where the appellant's clients used the service of inspection/test/analysis to decide whether the goods intended to be imported by them from India conformed to the requisite specifications and standards. In other words, the benefit of the service accrued to the foreign clients outside the Indian territory .]]></description>
		<wfw:commentRss>http://taxguru.in/service-tax/service-tax-payable-benefit-service-accrued-foreign-clients-indian-territory.html/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Addition U/s. 68 for non reply of Notice U/s. 133(6) &#8211; ITAT remanded matter Back to A.O.</title>
		<link>http://taxguru.in/income-tax-case-laws/addition-68-reply-notice-1336-itat-remanded-matter-ao.html</link>
		<comments>http://taxguru.in/income-tax-case-laws/addition-68-reply-notice-1336-itat-remanded-matter-ao.html#comments</comments>
		<pubDate>Tue, 07 Feb 2012 04:03:03 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Income Tax Case Laws]]></category>
		<category><![CDATA[ITAT judgments]]></category>

		<guid isPermaLink="false">http://taxguru.in/?p=47450</guid>
		<description><![CDATA[ITO v.  JMD Global (P) Ltd. (ITAT Delhi) - Before the ld CIT(A), it was contended by the assessee that all the allottees were in Calcutta and as the notice u/s 133(6) were sent towards the fag end of the time barring period, the same could not be replied by those parties before the assessment order was passed. ]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Exemption from service tax on export not available if payment not received in convertible foreign exchange</title>
		<link>http://taxguru.in/service-tax/exemption-service-tax-export-payment-received-convertible-foreign-exchange.html</link>
		<comments>http://taxguru.in/service-tax/exemption-service-tax-export-payment-received-convertible-foreign-exchange.html#comments</comments>
		<pubDate>Tue, 07 Feb 2012 04:02:56 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Service Tax]]></category>
		<category><![CDATA[business auxiliary service]]></category>
		<category><![CDATA[Cestat judgments]]></category>
		<category><![CDATA[Dispensation of pre deposit]]></category>
		<category><![CDATA[export of service]]></category>
		<category><![CDATA[Payment received in Indian Currency]]></category>
		<category><![CDATA[Service Tax Stay]]></category>

		<guid isPermaLink="false">http://taxguru.in/?p=47480</guid>
		<description><![CDATA[The service tax of Rs.2,63,754/- stands confirmed against the applicant for the period from March, 2007 to September, 2007 under the category of business auxiliary services. During the said period, the applicant provided services to the client located in Nepal and got commission for finding out the customers for their Nepalese client. In addition to this, the penalty stands imposed on the applicant under Section 76 of the Finance Act, 1994.]]></description>
		<wfw:commentRss>http://taxguru.in/service-tax/exemption-service-tax-export-payment-received-convertible-foreign-exchange.html/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>ITAT reduces addition made by AO after rejecting the books of accounts</title>
		<link>http://taxguru.in/income-tax-case-laws/itat-reduces-addition-ao-rejecting-books-accounts.html</link>
		<comments>http://taxguru.in/income-tax-case-laws/itat-reduces-addition-ao-rejecting-books-accounts.html#comments</comments>
		<pubDate>Tue, 07 Feb 2012 04:02:24 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Income Tax Case Laws]]></category>
		<category><![CDATA[ITAT judgments]]></category>

		<guid isPermaLink="false">http://taxguru.in/?p=47449</guid>
		<description><![CDATA[Rajesh Agarwal Vs. ITO (ITAT Delhi) - It is found that there were discrepancies in the book result filed, traced on the scrutiny of the books made by the Assessing Officer which could not be properly replied/explained. So, action of the  Assessing Officer in rejecting the book result and confirmation of the same by the CIT(A) in view of the facts and circumstances is found to be justified and proper which action is upheld. ]]></description>
		<wfw:commentRss>http://taxguru.in/income-tax-case-laws/itat-reduces-addition-ao-rejecting-books-accounts.html/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>GTA &#8211; Cestat Explains Conditions for Abatement of 75% from the gross freight value under Notification No. 32/2004-ST dated 03.12.2004</title>
		<link>http://taxguru.in/service-tax/gta-cestat-explains-conditions-for-abatement-of-75-from-the-gross-freight-value-under-notification-no-322004-st-dated-03-12-2004.html</link>
		<comments>http://taxguru.in/service-tax/gta-cestat-explains-conditions-for-abatement-of-75-from-the-gross-freight-value-under-notification-no-322004-st-dated-03-12-2004.html#comments</comments>
		<pubDate>Tue, 07 Feb 2012 04:01:14 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Service Tax]]></category>
		<category><![CDATA[Abatement]]></category>
		<category><![CDATA[Cestat judgments]]></category>
		<category><![CDATA[consignment note]]></category>
		<category><![CDATA[gta]]></category>

		<guid isPermaLink="false">http://taxguru.in/?p=47482</guid>
		<description><![CDATA[We find that the abatement of 75% from the gross freight value under Notification No. 32/2004-ST dated 03.12.2004 as amended is not available in the absence of such declaration/consignment note containing transaction particulars. The Commissioner has therefore rightly confirmed the demand in respect of 14 transporters. The plea of limitation also cannot be considered by the Tribunal as earlier remand order of the Tribunal does not contain any direction for reconsideration of the issue of time bar. We, therefore, uphold the impugned orders and reject the appeals.]]></description>
		<wfw:commentRss>http://taxguru.in/service-tax/gta-cestat-explains-conditions-for-abatement-of-75-from-the-gross-freight-value-under-notification-no-322004-st-dated-03-12-2004.html/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>SEBI (Buy-back of Securities) (Amendment) Regulations, 2012</title>
		<link>http://taxguru.in/sebi/sebi-buyback-securities-amendment-regulations-2012.html</link>
		<comments>http://taxguru.in/sebi/sebi-buyback-securities-amendment-regulations-2012.html#comments</comments>
		<pubDate>Tue, 07 Feb 2012 04:00:35 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[SEBI]]></category>
		<category><![CDATA[SEBI notifications]]></category>

		<guid isPermaLink="false">http://taxguru.in/?p=47494</guid>
		<description><![CDATA[In exercise of powers conferred by sub-section (1) of section 30 of the Securities and Exchange Board of India Act, 1992 (15 of 1992) read with clause (f) of sub-section (2) of Section 77A of the Companies Act, 1956 (1 of 1956) the Board hereby makes the following regulations to amend the Securities and Exchange Board of India (Buy-Back of Securities) Regulations, 1998, namely-  These regulations shall be called the. Securities and Exchange Board of India (Buy-Back of Securities) (Amendment) Regulations, 2012.]]></description>
		<wfw:commentRss>http://taxguru.in/sebi/sebi-buyback-securities-amendment-regulations-2012.html/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>All you want to Know about Deflation</title>
		<link>http://taxguru.in/finance/deflation.html</link>
		<comments>http://taxguru.in/finance/deflation.html#comments</comments>
		<pubDate>Tue, 07 Feb 2012 04:00:29 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Finance]]></category>
		<category><![CDATA[CA Subhash Srinivasan]]></category>
		<category><![CDATA[Deflation]]></category>

		<guid isPermaLink="false">http://taxguru.in/?p=47483</guid>
		<description><![CDATA[Though the effects of deflation are just the opposite to those of inflation, deflation also poses its own menacing threat to economic stability in a system. Effects of Production. Deflation adversely affects the level of production, investment activity, employment, and income level in an economy. ]]></description>
		<wfw:commentRss>http://taxguru.in/finance/deflation.html/feed/</wfw:commentRss>
		<slash:comments>2</slash:comments>
		</item>
		<item>
		<title>Guidelines for Conversion of Cost Accountants’ Firms into Limited Liability Partnerships (LLPs)</title>
		<link>http://taxguru.in/chartered-accountant/guidelines-conversion-cost-accountants-firms-limited-liability-partnerships-llps.html</link>
		<comments>http://taxguru.in/chartered-accountant/guidelines-conversion-cost-accountants-firms-limited-liability-partnerships-llps.html#comments</comments>
		<pubDate>Tue, 07 Feb 2012 03:59:58 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[CA CS ICWA]]></category>
		<category><![CDATA[ICWAI]]></category>
		<category><![CDATA[Limited liability partnership]]></category>
		<category><![CDATA[LLP]]></category>

		<guid isPermaLink="false">http://taxguru.in/?p=47429</guid>
		<description><![CDATA[In terms of Council decision dated 22nd January, 2012, the following guidelines for conversion of Cost Accountants firms into LLPs and constitution of separate LLPs by the practising Cost Accountants have been finalized. They are applicable for conversion of Cost Accountants’ firms into LLPs or formation of new LLPs, by the members in practice of the Institute of Cost Accountants of India (ICAI) upon coming into force the provisions of the Cost and Works Accountants (Amendment) Act, 2011 (i.e. 1st February, 2012), subject to the provisions of the Limited Liability Partnership (LLP) Act, 2008 and Rules &#038; Regulations framed thereunder:]]></description>
		<wfw:commentRss>http://taxguru.in/chartered-accountant/guidelines-conversion-cost-accountants-firms-limited-liability-partnerships-llps.html/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>External Commercial Borrowings – Reduction in amount,all-in-cost of ECB and Changes/modifications in the drawdown schedule,</title>
		<link>http://taxguru.in/fema/external-commercial-borrowings-reduction-amountallincost-ecb-changesmodifications-drawdown-schedule.html</link>
		<comments>http://taxguru.in/fema/external-commercial-borrowings-reduction-amountallincost-ecb-changesmodifications-drawdown-schedule.html#comments</comments>
		<pubDate>Tue, 07 Feb 2012 03:58:59 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[FEMA]]></category>
		<category><![CDATA[Fema Notifications]]></category>
		<category><![CDATA[RBI Notifications]]></category>

		<guid isPermaLink="false">http://taxguru.in/?p=47500</guid>
		<description><![CDATA[As per the extant ECB procedures, requests for reduction in the amount of ECB, changes in the drawdown schedule where the original average maturity period is not maintained and reduction in the all-in-cost of the ECB after obtaining the Loan Registration Number (LRN) is required to be referred by the AD Category-I bank to the Foreign Exchange Department, Central Office, Reserve Bank of India for necessary approval.]]></description>
		<wfw:commentRss>http://taxguru.in/fema/external-commercial-borrowings-reduction-amountallincost-ecb-changesmodifications-drawdown-schedule.html/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Unclaimed Deposits/ Inoperative Accounts in Banks &#8211; Display list of Inoperative Accounts</title>
		<link>http://taxguru.in/rbi/unclaimed-deposits-inoperative-accounts-banks-display-list-inoperative-accounts.html</link>
		<comments>http://taxguru.in/rbi/unclaimed-deposits-inoperative-accounts-banks-display-list-inoperative-accounts.html#comments</comments>
		<pubDate>Tue, 07 Feb 2012 03:58:32 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[RBI]]></category>
		<category><![CDATA[RBI Notifications]]></category>

		<guid isPermaLink="false">http://taxguru.in/?p=47487</guid>
		<description><![CDATA[Keeping in view public interest, it has been decided that banks should, in addition to the instructions contained in the above mentioned circular, play a more pro-active role in finding the whereabouts of the accountholders of unclaimed deposits/ inoperative accounts.  Banks are, therefore, advised that they should display the list of unclaimed deposits/inoperative accounts which are inactive / inoperative for ten years or more on their respective websites]]></description>
		<wfw:commentRss>http://taxguru.in/rbi/unclaimed-deposits-inoperative-accounts-banks-display-list-inoperative-accounts.html/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Finance Minister hopes an Upward Revision in the GDP Growth</title>
		<link>http://taxguru.in/finance/finance-minister-hopes-upward-revision-gdp-growth.html</link>
		<comments>http://taxguru.in/finance/finance-minister-hopes-upward-revision-gdp-growth.html#comments</comments>
		<pubDate>Tue, 07 Feb 2012 03:56:38 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Finance]]></category>
		<category><![CDATA[finance minister]]></category>

		<guid isPermaLink="false">http://taxguru.in/?p=47499</guid>
		<description><![CDATA[The Union Finance Minister Shri Pranab Mukherjee said that the main reason for decline in the GDP growth is slowdown in industrial growth, in particular in investment growth. The Finance Minister said that the negative growth in mining sector along with slowdown in construction sector has also contributed to the decline in GDP growth. The Finance Minister Shri Mukherjee was reacting to the figures of advance estimates of GDP for the year 2011-12 which were released here today, by the Central Statistical Organisation (CSO). The Union Finance Minister Shri Pranab Mukherjee said though figures of advance estimates for GDP for the current fiscal somewhat look disappointing by our recent growth experience, yet considering the current global context and the slowdown in the domestic industrial sector in particular, the growth performance is not all that surprising.]]></description>
		<wfw:commentRss>http://taxguru.in/finance/finance-minister-hopes-upward-revision-gdp-growth.html/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Deduction under section 80DDB &#8211; Do I need to reduce Insurance Claim recd. from Expense Amount</title>
		<link>http://taxguru.in/income-tax/deduction-section-80ddb-reduce-insurance-claim-recd-expense-amount.html</link>
		<comments>http://taxguru.in/income-tax/deduction-section-80ddb-reduce-insurance-claim-recd-expense-amount.html#comments</comments>
		<pubDate>Tue, 07 Feb 2012 03:53:03 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Income Tax]]></category>
		<category><![CDATA[section 80DDB]]></category>

		<guid isPermaLink="false">http://taxguru.in/?p=47439</guid>
		<description><![CDATA[Medical treatment of specified ailments under section 80DDB:-Deductions of expenses on medical treatment of specified ailments (such as AIDS, cancer and neurological diseases) can be claimed under Section 80DDB. The maximum amount of deduction allowed from gross total income is restricted to Rs 40,000 (which goes up to Rs 60,000 if the age of the person treated is 60 years or more) on condition that no medical reimbursement is received from any insurance company or employer for this amount. ]]></description>
		<wfw:commentRss>http://taxguru.in/income-tax/deduction-section-80ddb-reduce-insurance-claim-recd-expense-amount.html/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Sebi directs two to pay Rs 2.72 cr for unlawful gains</title>
		<link>http://taxguru.in/sebi/sebi-directs-pay-rs-272-cr-unlawful-gains.html</link>
		<comments>http://taxguru.in/sebi/sebi-directs-pay-rs-272-cr-unlawful-gains.html#comments</comments>
		<pubDate>Tue, 07 Feb 2012 03:51:07 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[SEBI]]></category>
		<category><![CDATA[unlawful gains]]></category>

		<guid isPermaLink="false">http://taxguru.in/?p=47496</guid>
		<description><![CDATA[Market regulator the Securities and Exchange Board of India (Sebi) has directed two individuals -- Shailesh S Jhaveri and Harsha M Shah -- to collectively pay Rs 2.72 crore for their involvement in fraudulent and unfair trade practices during preferential allotment of shares of Ojas Technochem Products in 2000. ]]></description>
		<wfw:commentRss>http://taxguru.in/sebi/sebi-directs-pay-rs-272-cr-unlawful-gains.html/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Deduction of Interest Paid on More Than One Loan Borrowed for Purchase or Construction of same House</title>
		<link>http://taxguru.in/income-tax/deduction-interest-paid-loan-borrowed-purchase-construction-house.html</link>
		<comments>http://taxguru.in/income-tax/deduction-interest-paid-loan-borrowed-purchase-construction-house.html#comments</comments>
		<pubDate>Tue, 07 Feb 2012 03:45:29 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Income Tax]]></category>
		<category><![CDATA[Home Loan]]></category>
		<category><![CDATA[section 24]]></category>

		<guid isPermaLink="false">http://taxguru.in/?p=47438</guid>
		<description><![CDATA[There is no bar in section 24 of the Income Tax Act regarding the number of loans on which interest is allowable simultaneously. In fact ,the simple rule of the deduction of interest u/s 24 of the Income Tax Act is that whatever be the interest paid or due on loan borrowed for purchase or construction of house is allowable as deduction. So, whether you take loan from one bank or five banks , all loan should be utilised for buying or constructing the house for allowance of interest paid to all the banks.]]></description>
		<wfw:commentRss>http://taxguru.in/income-tax/deduction-interest-paid-loan-borrowed-purchase-construction-house.html/feed/</wfw:commentRss>
		<slash:comments>2</slash:comments>
		</item>
		<item>
		<title>Budget 2012- Income tax exemption Limit may be raised to Rs. 2 lakh</title>
		<link>http://taxguru.in/income-tax/budget-2012-income-tax-exemption-limit-raised-rs-2-lakh.html</link>
		<comments>http://taxguru.in/income-tax/budget-2012-income-tax-exemption-limit-raised-rs-2-lakh.html#comments</comments>
		<pubDate>Tue, 07 Feb 2012 03:22:28 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Income Tax]]></category>
		<category><![CDATA[dtc]]></category>
		<category><![CDATA[income tax exemption limit]]></category>

		<guid isPermaLink="false">http://taxguru.in/?p=47436</guid>
		<description><![CDATA[The government is likely to provide some relief to individual income tax payers in the forthcoming Budget by raising the exemption limit to Rs 2 lakh, as provided in the Direct Taxes Code (DTC), and hiking the slabs for different tax brackets.The possibility of lowering the tax rates, however, is remote in view of the fiscal constraints being faced by the government, sources said, adding that the government will take on board some of the key recommendations of the DTC. ]]></description>
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		<slash:comments>0</slash:comments>
		</item>
	</channel>
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