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Latest News

• S. 80HHC – SC reverses Bomaby HC judgment in Kalpataru case, DEPB Face value co..

  09 Feb 2012 - 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 Colo..

• Meaning of the expression ‘gross amount’ appearing in Rule 3(1) of the Works Cont..

  09 Feb 2012 - Circular No. 150/1/2012-ST - Reference has been received from a field formation seeking clarification as to whether ‘gross amount’, for the purpos..

• SEBI amends Equity Listing Agreement – Amendment in Clause 40A, 43, 43A

  09 Feb 2012 - a. Amendment to Clause 40A -In addition to the existing methods which listed company can adopt to achieve minimum public shareholding, the listed comp..

• Correction in OLTAS / Income Tax / TDS / Direct Tax Challan, Type of Correction and P..

  09 Feb 2012 - 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..

• Depreciation allowed on intangible assets acquired on or after 1st April, 1998 –..

  09 Feb 2012 - 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 ..

• Assessee to whom DTAA applies, the provisions of Income Act shall applied to the exte..

  09 Feb 2012 - Intelsat Corporation Vs. ADIT (International Taxation) - We have considered the facts of the case and submissions made before us. We have already men..

• Loss from windmill business can be set off against other heads of income

  09 Feb 2012 - DCIT Vs. M/s. Bellad & Co. (ITAT Bangalore) - The assessee is a partnership firm dealing in automobiles and Sony products and also into generation of..

• Bank Guarantee Commission not liable to TDS U/s. 194H as it is is not a transaction b..

  09 Feb 2012 - Kotak Securities Limited vs. DCIT (ITAT Mumbai) - When we look at the connotations of expression ‘commission or brokerage’ in its cognate sense, ..

• Once tax has not been deducted and even if such tax has been paid by the deductee, di..

  08 Feb 2012 - 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..

• For section115JA/JB Deduction U/s. 80HHC to be computed with reference to the net pro..

  08 Feb 2012 - Al-Kabeer Exports Ltd vs. CIT (Supreme Court)- Reversing the High Court Decision and restoring the Tribunal Special bench Decision ,  It was held tha..

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