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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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		<item>
		<title>Review of the Economy 2011-12 &#8211; Summary and Highlights</title>
		<link>http://taxguru.in/government-policy/review-economy-201112-summary-highlights.html</link>
		<comments>http://taxguru.in/government-policy/review-economy-201112-summary-highlights.html#comments</comments>
		<pubDate>Wed, 22 Feb 2012 16:10:56 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Government Policy]]></category>
		<category><![CDATA[government notification]]></category>

		<guid isPermaLink="false">http://taxguru.in/?p=47982</guid>
		<description><![CDATA[Gross fixed capital formation (GFCF) as a proportion of GDP had reached a peak of 32.9 per cent in 2007/08, the year preceding the global crisis. It dropped to 32.3 per cent in 2008/09 and then to 31.6 per cent in 2009/10. Initial estimates are that in 2010/11 this ratio slipped further to 30.4 per cent. The AE for 2011/12 suggest that there may have been further slippage to 29.3 per cent. That is a decline of almost 4 percentage points over the last four years. ]]></description>
		<wfw:commentRss>http://taxguru.in/government-policy/review-economy-201112-summary-highlights.html/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>GST will bring about a Paradigm Shift in the Arena of Indirect Taxation in the Country -FM</title>
		<link>http://taxguru.in/income-tax/gst-bring-paradigm-shift-arena-indirect-taxation-country-fm.html</link>
		<comments>http://taxguru.in/income-tax/gst-bring-paradigm-shift-arena-indirect-taxation-country-fm.html#comments</comments>
		<pubDate>Wed, 22 Feb 2012 15:53:31 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Income Tax]]></category>
		<category><![CDATA[GST]]></category>
		<category><![CDATA[indirect tax]]></category>

		<guid isPermaLink="false">http://taxguru.in/?p=47981</guid>
		<description><![CDATA[The Union Finance Minister Shri Pranab Mukherjee said that with the introduction of Goods and Services Tax (GST), we are now perhaps at the door-step of the most significant reform in the history of indirect taxes in the country. He said that GST is expected to be a more efficient system of taxation and is likely to give a boost to the tax revenues of the Centre and the States.]]></description>
		<wfw:commentRss>http://taxguru.in/income-tax/gst-bring-paradigm-shift-arena-indirect-taxation-country-fm.html/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>DEPB &#8211; Whether aluminium grills can be termed as Extruded aluminium products, and if so, Whether assessee can take benefit of Item 7 of Code 61 &#8211; No, rules SC</title>
		<link>http://taxguru.in/dgft/depb-aluminium-grills-termed-extruded-aluminium-products-assessee-benefit-item-7-code-61-rules-sc.html</link>
		<comments>http://taxguru.in/dgft/depb-aluminium-grills-termed-extruded-aluminium-products-assessee-benefit-item-7-code-61-rules-sc.html#comments</comments>
		<pubDate>Wed, 22 Feb 2012 15:45:13 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[DGFT]]></category>
		<category><![CDATA[supreme court judgements]]></category>

		<guid isPermaLink="false">http://taxguru.in/?p=47980</guid>
		<description><![CDATA[The core issue that falls for our consideration and decision in this appeal is: whether aluminium grills can be termed as Extruded aluminium products? If the answer is in positive, the assessee would be covered by Item Serial No.7 of the Product Code 61 of the Duty Entitlement Passbook Scheme (for short "the DEPB Scheme"). The assessee has succeeded before the Customs, Excise and Gold (Control) Appellate Tribunal (for short 'the Tribunal'). The Revenue in this appeal calls in question the correctness or otherwise of the judgment and order of the Tribunal. By the impugned judgment and order, the Tribunal has set aside the order of confiscation of goods and the penalty imposed by the Commissioner of Customs.]]></description>
		<wfw:commentRss>http://taxguru.in/dgft/depb-aluminium-grills-termed-extruded-aluminium-products-assessee-benefit-item-7-code-61-rules-sc.html/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Chikdren educational allowance &#8211; Centre decides to remove the minimum age bar</title>
		<link>http://taxguru.in/government-policy/chikdren-educational-allowance-centre-decides-remove-minimum-age-bar.html</link>
		<comments>http://taxguru.in/government-policy/chikdren-educational-allowance-centre-decides-remove-minimum-age-bar.html#comments</comments>
		<pubDate>Wed, 22 Feb 2012 15:34:16 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Government Policy]]></category>

		<guid isPermaLink="false">http://taxguru.in/?p=47979</guid>
		<description><![CDATA[Extending benefits to its employees, the Centre has decided to remove the minimum age bar of five years for claiming educational allowance and hostel subsidy for their children. The move, which will benefit lakhs of workers, comes after the government received a number of representations and decided to get the matter duly examined by the Ministry of Finance.]]></description>
		<wfw:commentRss>http://taxguru.in/government-policy/chikdren-educational-allowance-centre-decides-remove-minimum-age-bar.html/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Leviability of service tax on toll fee</title>
		<link>http://taxguru.in/service-tax/leviability-service-tax-toll-fee.html</link>
		<comments>http://taxguru.in/service-tax/leviability-service-tax-toll-fee.html#comments</comments>
		<pubDate>Wed, 22 Feb 2012 15:10:53 +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=47978</guid>
		<description><![CDATA[Circular No. 152/3/2012-ST Service tax is not leviable on toll paid by the users of roads, including those roads constructed by a Special Purpose Vehicle (SPV) created under an agreement between National Highway Authority of India (NHAI) or a State Authority and the concessionaire (Public Private Partnership Model, Build-Own/Operate-Transfer arrangement). ‘Tolls’ is a matter enumerated (serial number 59) in List-II (State List), in the Seventh Schedule of the Constitution of India and the same is not covered by any of the taxable services at present. Tolls collected under the PPP model by the SPV is collection on own account and not on behalf of the person who has made the land available for construction of the road.]]></description>
		<wfw:commentRss>http://taxguru.in/service-tax/leviability-service-tax-toll-fee.html/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Regarding applicability of provisions of the Notifications No. 417 (E) dated 27.05.2011 on Molasses used in Hookah containing tobacco</title>
		<link>http://taxguru.in/custom-duty/applicability-provisions-notifications-417-dated-27052011-molasses-hookah-tobacco.html</link>
		<comments>http://taxguru.in/custom-duty/applicability-provisions-notifications-417-dated-27052011-molasses-hookah-tobacco.html#comments</comments>
		<pubDate>Wed, 22 Feb 2012 15:00:34 +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=47977</guid>
		<description><![CDATA[  Reference has been received on import of molasses for use in hookah without compliance of the Cigarettes and other Tobacco Products (Packaging and Labelling) Rules, 2008 Rules, which prescribes the manner in which the specified health warning shall be displayed on the tobacco product packs covering all types of tobacco products produced, supplied and distributed in India.  The Rules came into effect from 31st May, 2009 and a set of new pictorial health warning has been issued by the Ministry of Health &#038; Family Welfare vide Notification G.S.R. No. 417 (E) dated 27th May, 2011 which came into force from 1st December, 2011.]]></description>
		<wfw:commentRss>http://taxguru.in/custom-duty/applicability-provisions-notifications-417-dated-27052011-molasses-hookah-tobacco.html/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Foreign Lawyers cannot practice law in India &#8211; Madras High Court</title>
		<link>http://taxguru.in/corporate-law/foreign-lawyers-practice-law-india-madras-high-court.html</link>
		<comments>http://taxguru.in/corporate-law/foreign-lawyers-practice-law-india-madras-high-court.html#comments</comments>
		<pubDate>Wed, 22 Feb 2012 14:15:57 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Corporate Law]]></category>
		<category><![CDATA[high court judgments]]></category>

		<guid isPermaLink="false">http://taxguru.in/?p=47975</guid>
		<description><![CDATA[A.K. Balaji vs. GOI (Madras High Court) -This writ petition has been filed under Article 226 of the Constitution of India for the issuance of a Writ of Mandamus directing the respondents  to take appropriate action against respondents  or any other Foreign Law Firm or Foreign Lawyers, who are illegally practising the Profession of Law in India, and for a further direction to forbear them from having any legal practice either on the litigation side or in the field of non-litigation and commercial transactions, in any manner whatsoever within the territory of India.]]></description>
		<wfw:commentRss>http://taxguru.in/corporate-law/foreign-lawyers-practice-law-india-madras-high-court.html/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Three women IRS members in CBDT for the first time in 48 years</title>
		<link>http://taxguru.in/income-tax/women-irs-members-cbdt-time-48-years.html</link>
		<comments>http://taxguru.in/income-tax/women-irs-members-cbdt-time-48-years.html#comments</comments>
		<pubDate>Wed, 22 Feb 2012 14:04:51 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Income Tax]]></category>
		<category><![CDATA[CBDT]]></category>

		<guid isPermaLink="false">http://taxguru.in/?p=47974</guid>
		<description><![CDATA[With the induction of 1976-batch Indian Revenue Service (IRS) officer Sudha Sharma as Member (Audit and Judicial) this month, the Central Board of Direct Taxes for the first time in its 48-year-long history has three women in the seven-member body.  The two other women officers are Member (Personnel and Vigilance) Manjari Kacker and Member (Legislation and Computerisation) Poonam Kishore Saxena, both 1974-batch IRS (I-T) officials. ]]></description>
		<wfw:commentRss>http://taxguru.in/income-tax/women-irs-members-cbdt-time-48-years.html/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Second appeal can not be filed against the same order when the first appeal had already been dismissed</title>
		<link>http://taxguru.in/income-tax-case-laws/appeal-filed-order-appeal-dismissed.html</link>
		<comments>http://taxguru.in/income-tax-case-laws/appeal-filed-order-appeal-dismissed.html#comments</comments>
		<pubDate>Wed, 22 Feb 2012 04:48:54 +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=47989</guid>
		<description><![CDATA[Second appeal could not have been filed against the same order when the first appeal had already been dismissed by the ld. CIT(Appeals). On the other hand, the ld. CIT, DR submitted that the first appeal against the assessment order had been decided and, therefore, the second appeal filed belatedly before the ld. CIT(Appeals) is non-est.  We have considered the facts of the case and submissions made before us. ]]></description>
		<wfw:commentRss>http://taxguru.in/income-tax-case-laws/appeal-filed-order-appeal-dismissed.html/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>If assessee fails to explain difference in books of Accounts additions for such difference can not be deleted</title>
		<link>http://taxguru.in/income-tax-case-laws/assessee-fails-explain-difference-books-accounts-additions-difference-deleted.html</link>
		<comments>http://taxguru.in/income-tax-case-laws/assessee-fails-explain-difference-books-accounts-additions-difference-deleted.html#comments</comments>
		<pubDate>Wed, 22 Feb 2012 04:43:46 +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=47988</guid>
		<description><![CDATA[Balance in the shares account is Rs.23,52,580/- whereas as per books of account and as per trial balance it is Rs.22,93,130/- and assessee has failed to explain the difference or substantiate his plea that there is no difference. As such, it is held that since assessee has not been able to explain the difference, therefore, addition is called for which has rightly been confirmed by the CIT(A) whose action is further confirmed and this ground appeal of the assessee is dismissed.]]></description>
		<wfw:commentRss>http://taxguru.in/income-tax-case-laws/assessee-fails-explain-difference-books-accounts-additions-difference-deleted.html/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Notional income cannot be brought to tax on properties shown and accepted to be taxable u/s 28</title>
		<link>http://taxguru.in/income-tax-case-laws/notional-income-brought-tax-properties-shown-accepted-taxable-28.html</link>
		<comments>http://taxguru.in/income-tax-case-laws/notional-income-brought-tax-properties-shown-accepted-taxable-28.html#comments</comments>
		<pubDate>Wed, 22 Feb 2012 04:35:20 +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=47987</guid>
		<description><![CDATA[We find that the undisputed fact is that the premises are trading assets and have been shown as stock-in-trade. No rent has been received in respect of these unsold assets. The income from the properties have been shown and accepted to be taxable u/s 28. Unless specifically provided a notional income cannot be brought to tax. In other words, the concept of real income is applicable to computation of business income unless specifically provided otherwise. The assessee has not earned any income from the stock-in-trade. Therefore, we are of the view that the ld. CIT(Appeals) rightly allowed the relief to the assessee. In the result, this ground is also dismissed.]]></description>
		<wfw:commentRss>http://taxguru.in/income-tax-case-laws/notional-income-brought-tax-properties-shown-accepted-taxable-28.html/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>MCA reconstitutes Quality Review Board</title>
		<link>http://taxguru.in/corporate-law/mca-reconstitutes-quality-review-board.html</link>
		<comments>http://taxguru.in/corporate-law/mca-reconstitutes-quality-review-board.html#comments</comments>
		<pubDate>Wed, 22 Feb 2012 04:22:23 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Corporate Law]]></category>
		<category><![CDATA[MCA]]></category>

		<guid isPermaLink="false">http://taxguru.in/?p=47985</guid>
		<description><![CDATA[The Quality Review Board has been reconstituted by the Ministry of Corporate Affairs vide notification dated February 6, 2012. Download notification]]></description>
		<wfw:commentRss>http://taxguru.in/corporate-law/mca-reconstitutes-quality-review-board.html/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>CWA &#8211; Examination Pattern for Foundation Course (Entry Level) Part-I from June 2012 onwards</title>
		<link>http://taxguru.in/chartered-accountant/cwa-examination-pattern-foundation-entry-level-parti-june-2012-onwards.html</link>
		<comments>http://taxguru.in/chartered-accountant/cwa-examination-pattern-foundation-entry-level-parti-june-2012-onwards.html#comments</comments>
		<pubDate>Wed, 22 Feb 2012 04:17:26 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[CA CS ICWA]]></category>
		<category><![CDATA[ICWAI]]></category>

		<guid isPermaLink="false">http://taxguru.in/?p=47984</guid>
		<description><![CDATA[Examination Pattern for Foundation Course (Entry Level) Part-I from June 2012 onwards. Examination shall  have  Multiple Choice Questions to be answered/marked in OMR answer sheets. The Examination of Foundation Course (Entry Level) Part-I shall be held on a single day (Sunday) in two sessions Morning Session Paper I (10.00 am to 12.00 pm) Section A:- [...]]]></description>
		<wfw:commentRss>http://taxguru.in/chartered-accountant/cwa-examination-pattern-foundation-entry-level-parti-june-2012-onwards.html/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>RBI Releases Draft Guidelines on Liquidity Risk Management and Basel III Framework on Liquidity Standards</title>
		<link>http://taxguru.in/rbi/rbi-releases-draft-guidelines-liquidity-risk-management-basel-iii-framework-liquidity-standards.html</link>
		<comments>http://taxguru.in/rbi/rbi-releases-draft-guidelines-liquidity-risk-management-basel-iii-framework-liquidity-standards.html#comments</comments>
		<pubDate>Wed, 22 Feb 2012 02:49:12 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[RBI]]></category>
		<category><![CDATA[RBI Notifications]]></category>

		<guid isPermaLink="false">http://taxguru.in/?p=47946</guid>
		<description><![CDATA[. Deficiencies which were witnessed in liquidity risk management during the recent crisis included inadequate liquidity risk management governance, failure to address funding concentrations, lack of meaningful cash flow projections to assess the liquidity position, insufficient holdings of high quality liquid assets, gaps in stress testing and inappropriate linkage of the contingency plans with stress tests, etc. The crisis, thus, highlighted the need for banks to have adequate levels of liquidity and robust liquidity risk management systems.]]></description>
		<wfw:commentRss>http://taxguru.in/rbi/rbi-releases-draft-guidelines-liquidity-risk-management-basel-iii-framework-liquidity-standards.html/feed/</wfw:commentRss>
		<slash:comments>1</slash:comments>
		</item>
		<item>
		<title>Amendment in Chapter 10 of Schedule 2 of ITC(HS) Classification of Export and Import Items relating to export of  Basmati Rice.00</title>
		<link>http://taxguru.in/dgft/amendment-chapter-10-schedule-2-itchs-classification-export-import-items-relating-export-basmati-rice00.html</link>
		<comments>http://taxguru.in/dgft/amendment-chapter-10-schedule-2-itchs-classification-export-import-items-relating-export-basmati-rice00.html#comments</comments>
		<pubDate>Wed, 22 Feb 2012 02:17:39 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[DGFT]]></category>
		<category><![CDATA[DGFT Notifications]]></category>

		<guid isPermaLink="false">http://taxguru.in/?p=47939</guid>
		<description><![CDATA[Notification No.  97  (RE-2010) /2009-2014 (i) Minimum Export Price of Basmati Rice has been reduced to US$ 700 per MT.  Earlier it was US$ 900 or Rs. 41,400/- per MT FOB. MEP is expressed only in terms of US dollar. (ii)  Export is now permitted through all EDI ports.  Earlier it was allowed only through six ports. (iii) There is no change in any of the other existing conditions for export of basmati rice as have been notified from time to time. These conditions have been consolidated in the column “Nature of Restrictions” in the table of para 2.  ]]></description>
		<wfw:commentRss>http://taxguru.in/dgft/amendment-chapter-10-schedule-2-itchs-classification-export-import-items-relating-export-basmati-rice00.html/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Income Tax Calculator in Excel for A.Y. 2012-13</title>
		<link>http://taxguru.in/income-tax/income-tax-calculator-excel-ay-201213.html</link>
		<comments>http://taxguru.in/income-tax/income-tax-calculator-excel-ay-201213.html#comments</comments>
		<pubDate>Wed, 22 Feb 2012 02:05:44 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Files]]></category>
		<category><![CDATA[Income Tax]]></category>
		<category><![CDATA[CA Ashutosh Lohani]]></category>
		<category><![CDATA[INCOME TAX CALCULATOR]]></category>

		<guid isPermaLink="false">http://taxguru.in/?p=47937</guid>
		<description><![CDATA[The Income Tax Calculator given below is for A.Y. 2012-13 or Financial year 2011-12. The Calculator Calculates taxable Income and tax thereof. Calculator can be used for calculating income tax on all types of Income. It have the option to set off carried forwarded losses and to compute rebate for Agricultural income.  Calculator calculates tax on income of Male, Female, Senior Citizen, Very senior Citizen after considering basic exemption limit available to them. ]]></description>
		<wfw:commentRss>http://taxguru.in/income-tax/income-tax-calculator-excel-ay-201213.html/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Auto Excel Income Tax Challan ITNS 280 &amp; ITNS 281</title>
		<link>http://taxguru.in/income-tax/auto-excel-income-tax-challan-itns-280-itns-281.html</link>
		<comments>http://taxguru.in/income-tax/auto-excel-income-tax-challan-itns-280-itns-281.html#comments</comments>
		<pubDate>Wed, 22 Feb 2012 01:38:49 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Files]]></category>
		<category><![CDATA[Income Tax]]></category>
		<category><![CDATA[CA Ashutosh Lohani]]></category>
		<category><![CDATA[income tax forms]]></category>

		<guid isPermaLink="false">http://taxguru.in/?p=47934</guid>
		<description><![CDATA[Excel based Challan Utility for ITNS 280 and ITNS 281 - The utility given below will fill your Income Tax Challan No. 280 (For Payment of Income tax) and Income Tax Challan No. 280 (Related to Payment of TDS/TCS). With the excel utility files we attached one help file in word format which can be referred to understand how to use both the utilities. ]]></description>
		<wfw:commentRss>http://taxguru.in/income-tax/auto-excel-income-tax-challan-itns-280-itns-281.html/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Income tax Dept may get to re-open tax returns beyond 6 years if foreign assets involved</title>
		<link>http://taxguru.in/income-tax/income-tax-dept-reopen-tax-returns-6-years-foreign-assets-involved.html</link>
		<comments>http://taxguru.in/income-tax/income-tax-dept-reopen-tax-returns-6-years-foreign-assets-involved.html#comments</comments>
		<pubDate>Wed, 22 Feb 2012 00:54:00 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Income Tax]]></category>
		<category><![CDATA[black money]]></category>

		<guid isPermaLink="false">http://taxguru.in/?p=47932</guid>
		<description><![CDATA[Government may grant the Income Tax department powers to re-open tax returns of beyond six years in specific cases of black money where "foreign assets" are involved.The I-T department needs these powers to pursue the ongoing cases where funds were found to be stashed abroad and these came to light after India received a classified list of bank account holders which include those in HSBC bank Geneva and LGT Bank of Liechtenstein. ]]></description>
		<wfw:commentRss>http://taxguru.in/income-tax/income-tax-dept-reopen-tax-returns-6-years-foreign-assets-involved.html/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Budget 2012 &#8211; Foreign bank deposits, paintings, watches may attract wealth tax</title>
		<link>http://taxguru.in/income-tax/budget-2012-foreign-bank-deposits-paintings-watches-attract-wealth-tax.html</link>
		<comments>http://taxguru.in/income-tax/budget-2012-foreign-bank-deposits-paintings-watches-attract-wealth-tax.html#comments</comments>
		<pubDate>Wed, 22 Feb 2012 00:51:02 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Income Tax]]></category>
		<category><![CDATA[Wealth Tax]]></category>

		<guid isPermaLink="false">http://taxguru.in/?p=47931</guid>
		<description><![CDATA[Deposits in foreign banks, paintings, sculptures and expensive watches may come under the wealth tax net as part of the government's drive to unearth black money.The proposal to expand the ambit of the Wealth Tax forms part of the Direct Taxes Code (DTC) Bill which is being scrutinised by a Parliamentary Standing Committee. Some of the proposals are likely to be incorporated in the Budget for 2012-13, pending approval of the DTC. ]]></description>
		<wfw:commentRss>http://taxguru.in/income-tax/budget-2012-foreign-bank-deposits-paintings-watches-attract-wealth-tax.html/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Recent Liberlisation and Simplification in Softex Procedure, Payment allowed to be recd. in advance beyond one year, Release of Foreign Exchange for Imports</title>
		<link>http://taxguru.in/fema/liberlisation-simplification-softex-procedure-payment-allowed-recd-advance-year-release-foreign-exchange-imports.html</link>
		<comments>http://taxguru.in/fema/liberlisation-simplification-softex-procedure-payment-allowed-recd-advance-year-release-foreign-exchange-imports.html#comments</comments>
		<pubDate>Tue, 21 Feb 2012 23:49:58 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[FEMA]]></category>
		<category><![CDATA[Fema Notifications]]></category>

		<guid isPermaLink="false">http://taxguru.in/?p=47948</guid>
		<description><![CDATA[Considering the spurt in volume of software exports from India in recent times, other complexities involved in execution of work contracts and time consumed in the certification of SOFTEX forms, a simplified procedure has since been finalised by the Reserve Bank. Under the revised procedure, a software exporter, whose annual turnover is at least Rs. 1000 crore or who file at least 600 SOFTEX forms annually, will be eligible to submit a statement in excel format, giving all particulars alongwith quadruplicate set of SOFTEX forms to the nearest STPI.]]></description>
		<wfw:commentRss>http://taxguru.in/fema/liberlisation-simplification-softex-procedure-payment-allowed-recd-advance-year-release-foreign-exchange-imports.html/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>RBI allows exporters to receive advance payment for export of goods which would take more than one year to manufacture and ship</title>
		<link>http://taxguru.in/fema/rbi-exporters-receive-advance-payment-export-goods-year-manufacture-ship.html</link>
		<comments>http://taxguru.in/fema/rbi-exporters-receive-advance-payment-export-goods-year-manufacture-ship.html#comments</comments>
		<pubDate>Tue, 21 Feb 2012 23:22:19 +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=47941</guid>
		<description><![CDATA[With a view to liberalizing the procedure, it has been decided to permit AD Category- I banks to allow exporters to receive advance payment for export of goods which would take more than one year to manufacture and ship and where the ‘export agreement’ provides for shipment of goods extending beyond the period of one year from the date of receipt of advance payment subject to the following conditions:-]]></description>
		<wfw:commentRss>http://taxguru.in/fema/rbi-exporters-receive-advance-payment-export-goods-year-manufacture-ship.html/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Increase in limit to USD 5000 for foreign exchange remittance towards imports without any documentation formalities</title>
		<link>http://taxguru.in/fema/increase-limit-usd-5000-foreign-exchange-remittance-imports-documentation-formalities.html</link>
		<comments>http://taxguru.in/fema/increase-limit-usd-5000-foreign-exchange-remittance-imports-documentation-formalities.html#comments</comments>
		<pubDate>Tue, 21 Feb 2012 19:25:37 +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=47942</guid>
		<description><![CDATA[A.P. (DIR Series) Circular No. 82 - Attention of all the Authorised Dealers (ADs) in foreign exchange is invited to the A.P.(DIR Series) Circular No. 106 dated June 19, 2003 in terms of which applications by persons, firms and companies for making payments, exceeding USD 500 or its equivalent towards imports into India must be made in Form A-1.  Based on suggestions received from the various stake holders, the said limit has been reviewed and it has been decided as a measure of liberalization to raise the above limit for foreign exchange remittance towards imports without any documentation formalities, from USD 500 or its equivalent to USD 5000 or its equivalent, with immediate effect.]]></description>
		<wfw:commentRss>http://taxguru.in/fema/increase-limit-usd-5000-foreign-exchange-remittance-imports-documentation-formalities.html/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>CBI arrests service tax superintendent in bribery case</title>
		<link>http://taxguru.in/service-tax/cbi-arrests-service-tax-superintendent-bribery-case.html</link>
		<comments>http://taxguru.in/service-tax/cbi-arrests-service-tax-superintendent-bribery-case.html#comments</comments>
		<pubDate>Tue, 21 Feb 2012 12:30:19 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Service Tax]]></category>
		<category><![CDATA[CBI]]></category>

		<guid isPermaLink="false">http://taxguru.in/?p=47943</guid>
		<description><![CDATA[The Central Bureau of Investigation has arrested a Superintendent, Service Tax, IAP-X, Bangalore for demanding &#038; accepting a bribe of Rs.25,000/-from the complainant.       A case was registered against him U/s 7 of Prevention of Corruption Act, 1988 on the allegation of demanding a bribe from the complainant as a motive or reward for not imposing heavy service tax penalty and also to allegedly close the file. ]]></description>
		<wfw:commentRss>http://taxguru.in/service-tax/cbi-arrests-service-tax-superintendent-bribery-case.html/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>IDBI Bank provides account portability facility to customers</title>
		<link>http://taxguru.in/finance/idbi-bank-account-portability-facility-customers.html</link>
		<comments>http://taxguru.in/finance/idbi-bank-account-portability-facility-customers.html#comments</comments>
		<pubDate>Tue, 21 Feb 2012 07:35:32 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Finance]]></category>

		<guid isPermaLink="false">http://taxguru.in/?p=47930</guid>
		<description><![CDATA[IDBI Bank has been providing account portability facility to its customers since February 2010. Accordingly, customers can transfer their account from one service outlet (branch) to another in any city without changing the bank account number.]]></description>
		<wfw:commentRss>http://taxguru.in/finance/idbi-bank-account-portability-facility-customers.html/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>If facts are similar, Tribunal directs CIT(A) to re-decide the appeal in line with direction issued by Tribunal in its earlier order</title>
		<link>http://taxguru.in/income-tax-case-laws/facts-similar-tribunal-directs-cita-redecide-appeal-line-direction-issued-tribunal-earlier-order.html</link>
		<comments>http://taxguru.in/income-tax-case-laws/facts-similar-tribunal-directs-cita-redecide-appeal-line-direction-issued-tribunal-earlier-order.html#comments</comments>
		<pubDate>Tue, 21 Feb 2012 04:14:17 +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=47933</guid>
		<description><![CDATA[At the time of hearing, the learned AR submitted that the assessee company has not received assessment order passed by the Assessing Officer u/s 148 r/w section 143(3) for the assessment year 2002-03 as stated by the Assessing Officer that the order was dispatched by speed post on 31st December, 2009. The company received notice u/s 220(1)(i) of the Act for the outstanding payment and thereafter the assessee informed the Assessing Officer that he has not received the order and requested for certified copy.]]></description>
		<wfw:commentRss>http://taxguru.in/income-tax-case-laws/facts-similar-tribunal-directs-cita-redecide-appeal-line-direction-issued-tribunal-earlier-order.html/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Ambit of service tax to be widened &#8211; State FMs to meet to cover more services</title>
		<link>http://taxguru.in/service-tax/ambit-service-tax-widened-state-fms-meet-cover-services.html</link>
		<comments>http://taxguru.in/service-tax/ambit-service-tax-widened-state-fms-meet-cover-services.html#comments</comments>
		<pubDate>Tue, 21 Feb 2012 03:10:08 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Service Tax]]></category>
		<category><![CDATA[GST]]></category>

		<guid isPermaLink="false">http://taxguru.in/?p=47950</guid>
		<description><![CDATA[Ahead of the Union Budget, the state Finance Ministers will meet here on March 3 and suggest steps for increasing the ambit of the service tax net with a view to garnering more resources. The state Finance Ministers have decided on the negative list and are expected to sort out issues concerning definition of services so that more economic activities could be brought under the tax net.]]></description>
		<wfw:commentRss>http://taxguru.in/service-tax/ambit-service-tax-widened-state-fms-meet-cover-services.html/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Transfer of shares within promoter group of a company would be considered as an equity sale &#8211; SEBI</title>
		<link>http://taxguru.in/sebi/transfer-shares-promoter-group-company-considered-equity-sale-sebi.html</link>
		<comments>http://taxguru.in/sebi/transfer-shares-promoter-group-company-considered-equity-sale-sebi.html#comments</comments>
		<pubDate>Tue, 21 Feb 2012 03:03:29 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[SEBI]]></category>
		<category><![CDATA[securities and exchange board of india]]></category>

		<guid isPermaLink="false">http://taxguru.in/?p=47949</guid>
		<description><![CDATA[Capital market regulator Sebi has said that any transfer of shares even within the promoter group of a company would be considered as an equity sale, when it comes to promoters getting a preferential treatment for allotment of fresh shares or warrants. Accordingly, the promoters of a listed company would not be eligible for preferential allotment of shares or warrants, if there has been been any inter-se transfer of shares among the promoter group firms in last six months, Sebi said. ]]></description>
		<wfw:commentRss>http://taxguru.in/sebi/transfer-shares-promoter-group-company-considered-equity-sale-sebi.html/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Indian Banking Sector &#8211; Towards the Next Orbit</title>
		<link>http://taxguru.in/rbi/indian-banking-sector-orbit.html</link>
		<comments>http://taxguru.in/rbi/indian-banking-sector-orbit.html#comments</comments>
		<pubDate>Tue, 21 Feb 2012 02:41:59 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[RBI]]></category>
		<category><![CDATA[reserve bank of india]]></category>

		<guid isPermaLink="false">http://taxguru.in/?p=47945</guid>
		<description><![CDATA[We are at the cusp of a defining decade in the banking system. The Indian banking system has come a long way in terms of technology, business systems and processes. It has weathered the global economic crisis, but going forward it needs to focus on the key drivers of growth to be globally competitive. The lodestone of external impulses would be financial inclusion and the other key stones would be competition, consolidation and globalisation. The regulatory drivers would be more stringent regulations, essentially in fair treatment to customers, know your customer norms and risk management. The internal impetus would be provided by the unique human resources opportunities created by impending retirements, leveraging technology to increase reach, lower costs and provide improved customer service and to re-orient the organisation to be customer centric in all its manifestation. It would require the complete involvement of the top management and board of banks. Each one of you has a role to play in this agenda and stretch to achieve the objectives that would make your organisations from good to great and take it to the next orbit.]]></description>
		<wfw:commentRss>http://taxguru.in/rbi/indian-banking-sector-orbit.html/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>SEBI standardize lot size for IPO propose to list on SME exchange/platform and for secondary market trading on such exchange/platform</title>
		<link>http://taxguru.in/sebi/sebi-standardize-lot-size-ipo-propose-list-sme-exchangeplatform-secondary-market-trading-exchangeplatform.html</link>
		<comments>http://taxguru.in/sebi/sebi-standardize-lot-size-ipo-propose-list-sme-exchangeplatform-secondary-market-trading-exchangeplatform.html#comments</comments>
		<pubDate>Tue, 21 Feb 2012 02:38:30 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[SEBI]]></category>
		<category><![CDATA[SEBI notifications]]></category>

		<guid isPermaLink="false">http://taxguru.in/?p=47944</guid>
		<description><![CDATA[SEBI vide circular dated May 18, 2010 prescribed the framework for setting up of a stock exchange/trading platform by a recognized stock exchange having nationwide trading terminals for Small and Medium Enterprises (SMEs). . In this regard it has been decided to standardize the lot size for Initial Public Offer proposing to list on SME exchange/platform and for the secondary market trading on such exchange/platform, as given under:]]></description>
		<wfw:commentRss>http://taxguru.in/sebi/sebi-standardize-lot-size-ipo-propose-list-sme-exchangeplatform-secondary-market-trading-exchangeplatform.html/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Governance deficit and financial crisis</title>
		<link>http://taxguru.in/rbi/governance-deficit-financial-crisis.html</link>
		<comments>http://taxguru.in/rbi/governance-deficit-financial-crisis.html#comments</comments>
		<pubDate>Tue, 21 Feb 2012 02:19:38 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[RBI]]></category>
		<category><![CDATA[reserve bank of india]]></category>

		<guid isPermaLink="false">http://taxguru.in/?p=47940</guid>
		<description><![CDATA[Good governance is a necessary condition for not only economic growth and development but for an easy and comfortable society where we can go about our business - confident and unruffled. Good governance is of utmost importance for the financial sector but needs to be complemented by alert and efficacious regulation and supervision so as to build and maintain confidence of the savers and the investors. We, as a nation, have begun our journey and the tryst with our destiny and we need continued confidence of all our stakeholders to reach our destination. Our responsibility towards good governance cannot be overemphasized. In this endeavour needless to mention that members of this august audience are the principal actors.]]></description>
		<wfw:commentRss>http://taxguru.in/rbi/governance-deficit-financial-crisis.html/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>No Penalty U/s. 271AAA Even If Tax On Undisclosed Income Unpaid</title>
		<link>http://taxguru.in/income-tax-case-laws/penalty-271aaa-tax-undisclosed-income-unpaid.html</link>
		<comments>http://taxguru.in/income-tax-case-laws/penalty-271aaa-tax-undisclosed-income-unpaid.html#comments</comments>
		<pubDate>Mon, 20 Feb 2012 11:43:03 +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=47922</guid>
		<description><![CDATA[DCIT vs. Pioneer Marbles &#038; Interiors Pvt Ltd (ITAT Kolkata) -   Under the scheme of Section 271 AAA, there is a complete paradigm shift so far as penalty in respect of unaccounted income unearthed as a result of search operation carried out on or after 1st June 2007 is concerned. Unlike in the case of penalty under section 271(1)(c), Section 271 AAA, without any reference to findings or presumptions of concealment of income or the findings or presumptions of furnishing of inaccurate particulars, provides that in respect of unaccounted income in the cases where search initiated after 1st June 2007, the assessee is to pay a penalty @ 10% of unaccounted income.]]></description>
		<wfw:commentRss>http://taxguru.in/income-tax-case-laws/penalty-271aaa-tax-undisclosed-income-unpaid.html/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Banks eligible to claim deduction for bad debts u/s 36(1)(vii) in respect of advances and also claim provision for bad and doubtful debts u/s 36(1)(viia)</title>
		<link>http://taxguru.in/income-tax-case-laws/banks-eligible-claim-deduction-bad-debts-361vii-respect-advances-claim-provision-bad-doubtful-debts-361viia.html</link>
		<comments>http://taxguru.in/income-tax-case-laws/banks-eligible-claim-deduction-bad-debts-361vii-respect-advances-claim-provision-bad-doubtful-debts-361viia.html#comments</comments>
		<pubDate>Mon, 20 Feb 2012 11:25:01 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Income Tax Case Laws]]></category>
		<category><![CDATA[supreme court judgements]]></category>

		<guid isPermaLink="false">http://taxguru.in/?p=47920</guid>
		<description><![CDATA[Catholic Syrian Bank Ltd vs. CIT (Supreme Court) -Under Section 36(1) (vii) of the ITA 1961, the tax payer carrying on business is entitled to a deduction, in the computation of taxable profits, of the amount of any debt which is established to have become a bad debt during the previous year, subject to certain conditions. However, a mere provision for bad and doubtful debt(s) is not  allowed as a deduction in the computation of taxable profits.]]></description>
		<wfw:commentRss>http://taxguru.in/income-tax-case-laws/banks-eligible-claim-deduction-bad-debts-361vii-respect-advances-claim-provision-bad-doubtful-debts-361viia.html/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Status of Admission to Company Secretaries (CS) Executive Programme</title>
		<link>http://taxguru.in/chartered-accountant/status-admission-company-secretaries-cs-executive-programme.html</link>
		<comments>http://taxguru.in/chartered-accountant/status-admission-company-secretaries-cs-executive-programme.html#comments</comments>
		<pubDate>Mon, 20 Feb 2012 06:34:24 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[CA CS ICWA]]></category>
		<category><![CDATA[ICSI]]></category>

		<guid isPermaLink="false">http://taxguru.in/?p=47928</guid>
		<description><![CDATA[The Institute of Company Secretaries of India in a press release has notified that Admission to Company Secretaries (CS) Executive Programme is on. Graduates seeking admission till 29th February, 2012 will be eligible for Examination in December, 2012. B.A / B.Sc / B.Com Graduates of any discipline (excluding Fine Arts) can pursue the CS EXECUTIVE PROGRAMME conducted by the Institute of Company Secretaries of India (ICSI). CS Helpline is available on Telephone No. 011 – 41504444, 45341076 &#038; 45341077 (Delhi). ]]></description>
		<wfw:commentRss>http://taxguru.in/chartered-accountant/status-admission-company-secretaries-cs-executive-programme.html/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Applicability of Provisions of Section 194C  to the payments to Calcutta Dock Labour Board (CDLB)</title>
		<link>http://taxguru.in/income-tax-case-laws/applicability-provisions-section-194c-payments-calcutta-dock-labour-board-cdlb.html</link>
		<comments>http://taxguru.in/income-tax-case-laws/applicability-provisions-section-194c-payments-calcutta-dock-labour-board-cdlb.html#comments</comments>
		<pubDate>Mon, 20 Feb 2012 06:33:18 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Income Tax Case Laws]]></category>
		<category><![CDATA[ITAT judgments]]></category>
		<category><![CDATA[Section 194C]]></category>

		<guid isPermaLink="false">http://taxguru.in/?p=47925</guid>
		<description><![CDATA[Assessee has made payments to the CDLB for supply of these workers. As long as the assessee has made payments to the CDLB for supply of labour, even when this labour may be treated as employed by the assessee for all practical purposes, the provisions of Section 194 C are clearly attracted. In such a situation, i.e. when labour hired by the assessee through CDLB is considered to be in assessee’s employment, the payments made to CDLB cannot be treated as payments for ‘any work’ , but nevertheless these payments could still be covered by the provisions of Section 194 C because these are payments made for ‘supply of labour’ which are specifically covered by Section 194 C(1).]]></description>
		<wfw:commentRss>http://taxguru.in/income-tax-case-laws/applicability-provisions-section-194c-payments-calcutta-dock-labour-board-cdlb.html/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>SEBI (Issue of Capital and Disclosure Requirements) (Second Amendment) Regulations, 2012 &#8211; Amendment in regulations 53, 70 and 93</title>
		<link>http://taxguru.in/sebi/sebi-issue-capital-disclosure-requirements-amendment-regulations-2012-amendment-regulations-53-70-93.html</link>
		<comments>http://taxguru.in/sebi/sebi-issue-capital-disclosure-requirements-amendment-regulations-2012-amendment-regulations-53-70-93.html#comments</comments>
		<pubDate>Mon, 20 Feb 2012 03:29:45 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[SEBI]]></category>
		<category><![CDATA[SEBI notifications]]></category>

		<guid isPermaLink="false">http://taxguru.in/?p=47927</guid>
		<description><![CDATA[NOTIFICATION F.No. LAD-NRO/GN/2011-12/35/3186, dated 7-2-2012 -In exercise of the powers conferred by section 30 of the Securities and Exchange Board of India Act, 1992 (15 of 1992), the Board hereby makes the following Regulations to further amend the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009, namely:- 1. These Regulations may be called the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) (Second Amendment) Regulations, 2012.]]></description>
		<wfw:commentRss>http://taxguru.in/sebi/sebi-issue-capital-disclosure-requirements-amendment-regulations-2012-amendment-regulations-53-70-93.html/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>ICWAI to hold first convocation and annual award function at Kolkata</title>
		<link>http://taxguru.in/chartered-accountant/icwai-hold-convocation-annual-award-function-kolkata.html</link>
		<comments>http://taxguru.in/chartered-accountant/icwai-hold-convocation-annual-award-function-kolkata.html#comments</comments>
		<pubDate>Mon, 20 Feb 2012 03:23:48 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[CA CS ICWA]]></category>
		<category><![CDATA[ICWAI]]></category>

		<guid isPermaLink="false">http://taxguru.in/?p=47926</guid>
		<description><![CDATA[The first convocation and annual award function of The Institute of cost Accountants of India will be held on First March 2012 at 11.30 A .M. at Science City Auditorium , Kolkata.]]></description>
		<wfw:commentRss>http://taxguru.in/chartered-accountant/icwai-hold-convocation-annual-award-function-kolkata.html/feed/</wfw:commentRss>
		<slash:comments>2</slash:comments>
		</item>
		<item>
		<title>Date of filing of the return is relevant date to consider the applicability of the proviso to section 245R(2) of the Act</title>
		<link>http://taxguru.in/income-tax-case-laws/date-filing-return-relevant-date-applicability-proviso-section-245r2-act.html</link>
		<comments>http://taxguru.in/income-tax-case-laws/date-filing-return-relevant-date-applicability-proviso-section-245r2-act.html#comments</comments>
		<pubDate>Mon, 20 Feb 2012 03:11:44 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Income Tax Case Laws]]></category>
		<category><![CDATA[AAR rulings]]></category>

		<guid isPermaLink="false">http://taxguru.in/?p=47915</guid>
		<description><![CDATA[In Re- Red Hat India Private Limited- Date of filing of the return is the relevant date to consider the applicability of the proviso to section 245R(2) of the Act, and that the filing of the return of income generates questions including the ones raised before this Authority, the jurisdiction to give a ruling in the present application has to be held to be barred. We are, therefore, constrained to reject the application as being barred by clause (i) of the proviso to section 245R(2) of the Act.]]></description>
		<wfw:commentRss>http://taxguru.in/income-tax-case-laws/date-filing-return-relevant-date-applicability-proviso-section-245r2-act.html/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>ICAI Requests Members to Share Hardship Being Faced with Regard to TDS Returns</title>
		<link>http://taxguru.in/chartered-accountant/icai-requests-members-share-hardship-faced-regard-tds-returns.html</link>
		<comments>http://taxguru.in/chartered-accountant/icai-requests-members-share-hardship-faced-regard-tds-returns.html#comments</comments>
		<pubDate>Mon, 20 Feb 2012 02:09:14 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[CA CS ICWA]]></category>
		<category><![CDATA[ICAI]]></category>
		<category><![CDATA[TDS]]></category>

		<guid isPermaLink="false">http://taxguru.in/?p=47914</guid>
		<description><![CDATA[The Direct Taxes Committee of ICAI makes suitable representations to the Central Board of Direct Taxes or other appropriate bodies on various issues arising out of direct tax laws from time to time which are brought to the notice of the Committee by the members. ]]></description>
		<wfw:commentRss>http://taxguru.in/chartered-accountant/icai-requests-members-share-hardship-faced-regard-tds-returns.html/feed/</wfw:commentRss>
		<slash:comments>6</slash:comments>
		</item>
		<item>
		<title>Empanelment with New India Assurance Company Limited for concurrent audit</title>
		<link>http://taxguru.in/chartered-accountant/empanelment-india-assurance-company-limited-concurrent-audit.html</link>
		<comments>http://taxguru.in/chartered-accountant/empanelment-india-assurance-company-limited-concurrent-audit.html#comments</comments>
		<pubDate>Mon, 20 Feb 2012 02:02:32 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[CA CS ICWA]]></category>
		<category><![CDATA[Empanelment]]></category>

		<guid isPermaLink="false">http://taxguru.in/?p=47913</guid>
		<description><![CDATA[The company is engaged in General Insurance Business with its operations spreading all over India and abroad. The company is on look-out to appoint a firm of Chartered Accountants as concurrent auditor to carry-out the concurrent audit of investment department of the company. The investment portfolio of the company is Rs. 20,000 crore (approx.)]]></description>
		<wfw:commentRss>http://taxguru.in/chartered-accountant/empanelment-india-assurance-company-limited-concurrent-audit.html/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Interest payable U/s. 220(2) to be computed from the date of fresh assessment order if original been set aside</title>
		<link>http://taxguru.in/income-tax-case-laws/interest-payable-2202-computed-date-fresh-assessment-order-original-set.html</link>
		<comments>http://taxguru.in/income-tax-case-laws/interest-payable-2202-computed-date-fresh-assessment-order-original-set.html#comments</comments>
		<pubDate>Sun, 19 Feb 2012 11:29:30 +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=47911</guid>
		<description><![CDATA[in case the assessment is set aside by the CIT(A) and setting aside become final, interest u/s. 220(2) has to be charged only after the expiry of 35 days from the date of service of demand notice pursuant to the fresh assessment order. In the case of the assessee, since the original order of assessment was confirmed by the CIT (A) but on further appeal, the Tribunal set aside the order of the CIT(A) and the issue restored to the AO, it was held that in terms of the circular, the interest u/s. 220(2) has to be charged only from the date of fresh assessment order.]]></description>
		<wfw:commentRss>http://taxguru.in/income-tax-case-laws/interest-payable-2202-computed-date-fresh-assessment-order-original-set.html/feed/</wfw:commentRss>
		<slash:comments>1</slash:comments>
		</item>
		<item>
		<title>Payment under inter-linked con-tracts for manufacturing attracts TDS u/s 194C</title>
		<link>http://taxguru.in/income-tax-case-laws/payment-interlinked-contracts-manufacturing-attracts-tds-194c-2.html</link>
		<comments>http://taxguru.in/income-tax-case-laws/payment-interlinked-contracts-manufacturing-attracts-tds-194c-2.html#comments</comments>
		<pubDate>Sun, 19 Feb 2012 11:14:59 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Income Tax Case Laws]]></category>
		<category><![CDATA[high court judgments]]></category>
		<category><![CDATA[Section 194C]]></category>

		<guid isPermaLink="false">http://taxguru.in/?p=47909</guid>
		<description><![CDATA[The assessee, Nova Nordisk Pharma India Ltd, an Indian Company was engaged in marketing of pharmaceutical products. It was a subsidiary company of NOVA Nordisk, Singapore. One of the products (insulin in medically presentable form), was manufactured by M/s. Torrent Pharmaceuticals Limited (Torrent) and supplied to the assessee company. The raw material was supplied by a foreign company NOVA Nordisk, Denmark. Torrent pursuant to the contract, was required to sell entire output only to the assessee company in India.]]></description>
		<wfw:commentRss>http://taxguru.in/income-tax-case-laws/payment-interlinked-contracts-manufacturing-attracts-tds-194c-2.html/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Section 50C &#8211; Fair market value determined by DVO cannot be replaced for full value of consideration</title>
		<link>http://taxguru.in/income-tax-case-laws/section-50c-fair-market-determined-dvo-replaced-full-consideration.html</link>
		<comments>http://taxguru.in/income-tax-case-laws/section-50c-fair-market-determined-dvo-replaced-full-consideration.html#comments</comments>
		<pubDate>Sun, 19 Feb 2012 10:59:19 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Income Tax Case Laws]]></category>
		<category><![CDATA[ITAT judgments]]></category>
		<category><![CDATA[section 50c]]></category>

		<guid isPermaLink="false">http://taxguru.in/?p=47907</guid>
		<description><![CDATA[The language in section 55A does not refer the 'value of consideration' but only uses the term 'Fair Market value'. So the scope of the section gets con-fined to determine the fair market value of a capital asset only. Thus, considering the language of section 48 the value so deter¬mined cannot be substituted for 'Full value of consideration'. - Section 50C states that the AO can refer to DVO u/s. 55A only if the assessee claims that the value adopted by the stamp valuation authority exceeds their fair market value or the value so adopted by stamp valuation authority has not been disputed by any authority, Court or High Court.]]></description>
		<wfw:commentRss>http://taxguru.in/income-tax-case-laws/section-50c-fair-market-determined-dvo-replaced-full-consideration.html/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Authority for Advance Rulings (Income-tax) &#8211; Frequently Asked Questions</title>
		<link>http://taxguru.in/income-tax/authority-advance-rulings-incometax-frequently-asked-questions.html</link>
		<comments>http://taxguru.in/income-tax/authority-advance-rulings-incometax-frequently-asked-questions.html#comments</comments>
		<pubDate>Sun, 19 Feb 2012 10:32:25 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Income Tax]]></category>
		<category><![CDATA[AAR rulings]]></category>
		<category><![CDATA[Advance Ruling]]></category>

		<guid isPermaLink="false">http://taxguru.in/?p=47906</guid>
		<description><![CDATA[The Advance rulings can be sought on any question of law or fact specified in the application in relation to a transaction which has been undertaken, or is proposed to be undertaken, by the non¬resident applicant. Even a resident applicant may seek rulings regarding tax liability of a non¬resident in relation to a transaction with the resident applicant. In case of a public sector undertaking advance rulings may be sought on an issue of fact or law relating to computation of total income, pending before an Income-tax Authority or the Appellate Tribunal.]]></description>
		<wfw:commentRss>http://taxguru.in/income-tax/authority-advance-rulings-incometax-frequently-asked-questions.html/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>TP Adjustments to be restricted to international transactions and cannot form the basis for rejecting books of accounts</title>
		<link>http://taxguru.in/income-tax-case-laws/tp-adjustments-restricted-international-transactions-form-basis-rejecting-books-accounts.html</link>
		<comments>http://taxguru.in/income-tax-case-laws/tp-adjustments-restricted-international-transactions-form-basis-rejecting-books-accounts.html#comments</comments>
		<pubDate>Sun, 19 Feb 2012 10:10:34 +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=47904</guid>
		<description><![CDATA[Whether adjustment should be restricted only to the international transactions or can be extended to the entire turnover of the taxpayer? 2. Are the books of accounts liable to be rejected if there is a transfer pricing adjustment?  3. Prior to 1.10.2009, is the benefit of standard deduction of-+5% under the proviso to section 92C(2) of the Act available to the taxpayer?]]></description>
		<wfw:commentRss>http://taxguru.in/income-tax-case-laws/tp-adjustments-restricted-international-transactions-form-basis-rejecting-books-accounts.html/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Interest on Income tax refund received by foreign company taxable as interest income and not as business income</title>
		<link>http://taxguru.in/income-tax-case-laws/interest-income-tax-refund-received-foreign-company-taxable-interest-income-business-income.html</link>
		<comments>http://taxguru.in/income-tax-case-laws/interest-income-tax-refund-received-foreign-company-taxable-interest-income-business-income.html#comments</comments>
		<pubDate>Sun, 19 Feb 2012 09:57:55 +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=47902</guid>
		<description><![CDATA[Whether the interest on income-tax refund is to be considered as interest income falling within Article 11(2) of the tax treaty or as interest income attributable to permanent establishment or fixed base in India falling under Article 11(5) read with Article 7 of the tax treaty? 2.  whether the expression 'attributable' as used in Article 11(5) of the tax treaty has to be construed as equivalent / narrower to the term 'effectively connected' as used under Interest Article in other tax treaties with India and thereby squarely covered by the Special Bench decision of Clough Engineering Ltd.]]></description>
		<wfw:commentRss>http://taxguru.in/income-tax-case-laws/interest-income-tax-refund-received-foreign-company-taxable-interest-income-business-income.html/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Trading by way of re-export of imported goods from SEZ  eligible for tax deduction under section 10AA</title>
		<link>http://taxguru.in/income-tax/trading-reexport-imported-goods-sez-eligible-tax-deduction-section-10aa.html</link>
		<comments>http://taxguru.in/income-tax/trading-reexport-imported-goods-sez-eligible-tax-deduction-section-10aa.html#comments</comments>
		<pubDate>Sun, 19 Feb 2012 09:12:13 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Income Tax]]></category>
		<category><![CDATA[ITAT judgments]]></category>

		<guid isPermaLink="false">http://taxguru.in/?p=47900</guid>
		<description><![CDATA[Though vide Instruction no. 1/2006 dated 24-03-2006, it was clarified that trading units can be set up in the SEZ. However, the modification was made on 24-05-2006 in which it was made clear that the deduction u/s 10AA will be available in respect of the trading in the nature of re-export of imported good. Thus the assessees were promised that they will be eligible for deduction u/s 10AA of the Act in respect of the profit earning on trading of re-export of imported goods. The revenue has not been able to show us that such instruction was not withdrawn or the Board has issued instruction that instructin dated 24-05-206 from the Ministry of Commerce will not be applicable for the purpose of allowing exemption u/s 10AA of the Act. Hence, in view of the doctrine of promissory estoppel, we hold that the assessee is entitled to deduction.]]></description>
		<wfw:commentRss>http://taxguru.in/income-tax/trading-reexport-imported-goods-sez-eligible-tax-deduction-section-10aa.html/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Section 80IA- Industrial Parks becoming operational and applying for registration after 31 March 2006 not eligible for tax holiday under erstwhile Industrial Park Scheme, 2002</title>
		<link>http://taxguru.in/income-tax-case-laws/section-80ia-industrial-parks-operational-applying-registration-31-march-2006-eligible-tax-holiday-erstwhile-industrial-park-scheme-2002.html</link>
		<comments>http://taxguru.in/income-tax-case-laws/section-80ia-industrial-parks-operational-applying-registration-31-march-2006-eligible-tax-holiday-erstwhile-industrial-park-scheme-2002.html#comments</comments>
		<pubDate>Sun, 19 Feb 2012 08:51:35 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Income Tax Case Laws]]></category>
		<category><![CDATA[high court judgments]]></category>
		<category><![CDATA[Section 80IA]]></category>

		<guid isPermaLink="false">http://taxguru.in/?p=47898</guid>
		<description><![CDATA[Petitioner had filed the application for registration on 23rd September, 2006 after the 2002, Scheme had come to an end, as the scheme was applicable only upto 31 st March, 2006. The industrial park set up by them was not operational/functional by 31st March, 2006. It became operational on a subsequent date. The completion certificate for the said park issued by the Pune Municipal Corporation is dated 29th August, 2007. The petitioner cannot, therefore, claim notification under the 2002, Scheme.]]></description>
		<wfw:commentRss>http://taxguru.in/income-tax-case-laws/section-80ia-industrial-parks-operational-applying-registration-31-march-2006-eligible-tax-holiday-erstwhile-industrial-park-scheme-2002.html/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Without reference assumption of jurisdiction by Transfer Pricing Officer in working out arm&#8217;s length price not justified</title>
		<link>http://taxguru.in/income-tax-case-laws/reference-assumption-jurisdiction-transfer-pricing-officer-working-arms-length-price-justified.html</link>
		<comments>http://taxguru.in/income-tax-case-laws/reference-assumption-jurisdiction-transfer-pricing-officer-working-arms-length-price-justified.html#comments</comments>
		<pubDate>Sun, 19 Feb 2012 08:31:36 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Income Tax Case Laws]]></category>
		<category><![CDATA[ITAT judgments]]></category>
		<category><![CDATA[Transfer Pricing]]></category>

		<guid isPermaLink="false">http://taxguru.in/?p=47896</guid>
		<description><![CDATA[Without adjudicating on the issue whether the Advertisement, Marketing and Sales Promotion expenditure incurred by the taxpayer can be characterised as an international transaction as per Section 92B of the Act, the Tribunal held that the assumption of jurisdiction by the TPO in working out ALP is not justified and directed the AO to delete the adjustment made by the TPO.]]></description>
		<wfw:commentRss>http://taxguru.in/income-tax-case-laws/reference-assumption-jurisdiction-transfer-pricing-officer-working-arms-length-price-justified.html/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Section 50C not applicable to tenancy rights and unregistered document</title>
		<link>http://taxguru.in/income-tax-case-laws/section-50c-applicable-tenancy-rights-unregistered-document.html</link>
		<comments>http://taxguru.in/income-tax-case-laws/section-50c-applicable-tenancy-rights-unregistered-document.html#comments</comments>
		<pubDate>Sun, 19 Feb 2012 08:15:30 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Income Tax Case Laws]]></category>
		<category><![CDATA[ITAT judgments]]></category>
		<category><![CDATA[section 50c]]></category>

		<guid isPermaLink="false">http://taxguru.in/?p=47895</guid>
		<description><![CDATA[On applicability of Section 50C of the Act in absence of registered document -Capital gain has to be computed on the basis of sale consideration received or accruing to the taxpayer. Even if the document was not registered, the capital gain has to be computed on the basis of the sale consideration shown and received by the taxpayer unless there was material to show that the sale consideration was understated. In this case, the document was not registered and no stamp duty had been paid. Therefore, stamp duty value cannot be adopted for the purpose of computation of capital gain and the value shown in the agreement has to be adopted as there is no material to show that the taxpayer had understated the sale consideration.]]></description>
		<wfw:commentRss>http://taxguru.in/income-tax-case-laws/section-50c-applicable-tenancy-rights-unregistered-document.html/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
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