ahmedabad

The Central Board of Direct Taxes plans to set up two more central processing centres (CPC) — one each in Ahmedabad and Faridabad (National Capital Region) — to improve taxpayer service, the CBDT Chairman, Mr S. S. N. Moorthy, said here today. Full Article

The government has appointed former I-T officials or officials from the Indian Revenue Service as income-tax ombudsmen. These officers are independent of the jurisdiction of the income-tax department and hence, operate as an independent arbiter. Full Article

As would be evident from the pleadings and submissions made on behalf of the respective arties, the main question which we are called upon to consider is whether in the absence of publication of the Rules and Bye-laws of the Bombay Stock Exchange, which had been framed prior to its recognition in 1956 under the 1956 Act, its activities could be said to be without authority. Full Article

The next two items are penal charges of Rs.5,11,688/ - and Rs. 10,970/-. These amounts have already been held to be business income while discussing the issues of section 80IB. Accordingly, we direct the AO to treat these two amounts as part of business income for computation under section 80HHC. Full Article

If there is a discontinuance of business then sum received by partners after discontinuation would be taxed as income in the hands of recipient; receipts under the arbitration award, by the partners after dissolution of the firm would ordinarily be capital receipts in their hands when received. Full Article

1) The elections to the Central/Regional Councils of our Institute are to be held on 5th December, 2009, in all cities. However, in Mumbai, Ahmedabad, Pune, New Delhi, Delhi, Kolkatta, Chennai, Bangalore and Hyderabad the elections will be held on 4th and 5th December, 2009. The polling booths at all places will remain open from 8.00 A.M. to 8.00 P.M. on the dates of polling. The Institute has communicated the details about.. Full Article

The following officers are nominated as Members of the Dispute Resolution Panel (DRP) based on the recommendations of the DGIT (International Taxation), New Delhi: Full Article

PROMOTION on performance is a positive signal every organisation whether in private or public sectors intends to send to all stakeholders. This is what the Selection Panel headed by the Supreme Court Judge has also tried to do in the case of ITAT. It has overlooked as many as four senior Members and promoted deserving candidates. Besides, Vice-President at Ahmedabad Mr R V Easwar has been promoted as Senior V-P and posted to Mumbai. Full Article