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	<title>TaxGuru &#187; Interest</title>
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		<title>No Disallowance u/s. 14A  of interest on borrowed funds if AO does not show nexus between borrowed funds and tax-free investment</title>
		<link>http://taxguru.in/income-tax-case-laws/no-disallowance-us-14a-of-interest-on-borrowed-funds-if-ao-does-not-show-nexus-between-borrowed-funds-and-tax-free-investment.html</link>
		<comments>http://taxguru.in/income-tax-case-laws/no-disallowance-us-14a-of-interest-on-borrowed-funds-if-ao-does-not-show-nexus-between-borrowed-funds-and-tax-free-investment.html#comments</comments>
		<pubDate>Sun, 16 Jan 2011 11:13:41 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Income Tax Case Laws]]></category>
		<category><![CDATA[DCIT Versus Maharashtra Seamless Ltd.]]></category>
		<category><![CDATA[Interest]]></category>
		<category><![CDATA[section 14a]]></category>

		<guid isPermaLink="false">http://taxguru.in/no-disallowance-us.-14a-of-interest-on-borrowed-funds-if-ao-does-not-show-nexus-between-borrowed-funds-and-tax-free-investment-225.html</guid>
		<description><![CDATA[As the funds were mixed, it is not possible to ascertain whether the investment in tax free bonds is out of the assessee’s own funds. The source of investment in the tax free bonds was not identified. The AO did not establish any nexus between the borrowed funds and the investments in the tax free bonds. The cash flow of the assessee was not seen. Therefore, the apportionment on a pro rata basis was improper in the absence of anything brought by the AO to rebut the assessee’s stand that the investment in the tax free bonds had been made out of the funds of own funds (Minda Investments, Hero Cycles 323 ITR 518 (P&#038;H) and Winsome Textile Industries 319 ITR 204 (P&#038;H) followed); ]]></description>
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		<slash:comments>2</slash:comments>
		</item>
		<item>
		<title>How to disclose on interest payable under sections 234B/ 234C of Income-tax Act</title>
		<link>http://taxguru.in/finance/how-to-disclose-on-interest-payable-under-sections-234b-234c-of-income-tax-act.html</link>
		<comments>http://taxguru.in/finance/how-to-disclose-on-interest-payable-under-sections-234b-234c-of-income-tax-act.html#comments</comments>
		<pubDate>Thu, 02 Dec 2010 03:33:05 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Finance]]></category>
		<category><![CDATA[income tax act]]></category>
		<category><![CDATA[Interest]]></category>
		<category><![CDATA[sections 234B]]></category>

		<guid isPermaLink="false">http://taxguru.in/how-to-disclose-on-interest-payable-under-sections-234b-234c-of-income-tax-act-36518.html</guid>
		<description><![CDATA[Part II of Schedule VI to the Companies Act, 1956, requires the profit and loss account to be drawn in a manner to disclose the result of the working of the company during the period, and it should disclose every material feature in respect of non-re]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Section 14A not applicable if investment in shares not made out of borrowed funds and depreciation allowable on goodwill and non-compete fees</title>
		<link>http://taxguru.in/income-tax-case-laws/section-14a-not-applicable-if-investment-in-shares-not-made-out-of-borrowed-funds-and-depreciation-allowable-on-goodwill-and-non-compete-fees.html</link>
		<comments>http://taxguru.in/income-tax-case-laws/section-14a-not-applicable-if-investment-in-shares-not-made-out-of-borrowed-funds-and-depreciation-allowable-on-goodwill-and-non-compete-fees.html#comments</comments>
		<pubDate>Thu, 02 Dec 2010 03:23:01 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Income Tax Case Laws]]></category>
		<category><![CDATA[Depreciation]]></category>
		<category><![CDATA[Godrej Agrovet]]></category>
		<category><![CDATA[goodwill]]></category>
		<category><![CDATA[Interest]]></category>
		<category><![CDATA[non competance fees]]></category>
		<category><![CDATA[section 14a]]></category>

		<guid isPermaLink="false">http://taxguru.in/section-14a-not-applicable-if-investment-in-shares-not-made-out-of-borrowed-funds-and-depreciation-allowable-on-goodwill-and-non-compete-fees-155.html</guid>
		<description><![CDATA[ITAT Mumbai held in above case that that since there was no sale, discarding, demolition or destruction of an asset, no adjustment can be made to the Written Down Value (WDV) of the block of assets. Accordingly, the depreciation on goodwill and non-compete fees has to be allowed since these assets already formed part of the block of assets.]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Interest and Damages Not Taxable Under DTAA if no PE- ITAT Mumbai</title>
		<link>http://taxguru.in/income-tax-case-laws/interest-and-damages-not-taxable-under-dtaa-if-no-pe-itat-mumbai.html</link>
		<comments>http://taxguru.in/income-tax-case-laws/interest-and-damages-not-taxable-under-dtaa-if-no-pe-itat-mumbai.html#comments</comments>
		<pubDate>Mon, 04 Oct 2010 02:21:40 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Income Tax Case Laws]]></category>
		<category><![CDATA[damages]]></category>
		<category><![CDATA[DTAA]]></category>
		<category><![CDATA[Goldcrest Exports]]></category>
		<category><![CDATA[Interest]]></category>

		<guid isPermaLink="false">http://taxguru.in/interest-and-damages-not-taxable-under-dtaa-if-no-pe-itat-mumbai-45.html</guid>
		<description><![CDATA[Though the damages included an element of interest, the same is not assessable because in a decree or arbitration award, the amount loses its original character and assumes the character of a judgment debt. In substance, interest partake the character of the compensation and is not assessable as “interest”. Islamic Investment 265 ITR 254 (Bom) followed.]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Government may hike Home Loan interest Payment exemption to Rs 2.5 lakh</title>
		<link>http://taxguru.in/income-tax/government-may-hike-home-loan-interest-payment-exemption-to-rs-2-5-lakh.html</link>
		<comments>http://taxguru.in/income-tax/government-may-hike-home-loan-interest-payment-exemption-to-rs-2-5-lakh.html#comments</comments>
		<pubDate>Tue, 16 Jun 2009 03:06:57 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Income Tax]]></category>
		<category><![CDATA[Deduction]]></category>
		<category><![CDATA[Exemption]]></category>
		<category><![CDATA[exemption limit]]></category>
		<category><![CDATA[home loan interest]]></category>
		<category><![CDATA[housing and urban development]]></category>
		<category><![CDATA[housing loans]]></category>
		<category><![CDATA[income tax act]]></category>
		<category><![CDATA[Income Tax Exemption]]></category>
		<category><![CDATA[Interest]]></category>
		<category><![CDATA[interest payment]]></category>
		<category><![CDATA[investments]]></category>

		<guid isPermaLink="false">http://www.taxguru.in/?p=9292</guid>
		<description><![CDATA[The government is considering a proposal to hike income-tax exemption Make these charges part of your budget available for interest payment on home loans to Rs 2.5 lakh a year, to boost demand and rebuild the slowdown-hit housing industry.The ministry of housing and urban development has urged finance minister Pranab Mukherjee to make an announcement to [...]]]></description>
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		<slash:comments>2</slash:comments>
		</item>
		<item>
		<title>Quoting of Unique transaction Number (UTN) in ITR and practical issues</title>
		<link>http://taxguru.in/income-tax/quoting-of-unique-transaction-number-utn-in-itr-and-practical-issues.html</link>
		<comments>http://taxguru.in/income-tax/quoting-of-unique-transaction-number-utn-in-itr-and-practical-issues.html#comments</comments>
		<pubDate>Thu, 04 Jun 2009 17:54:45 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Income Tax]]></category>
		<category><![CDATA[Assessment]]></category>
		<category><![CDATA[benefit]]></category>
		<category><![CDATA[cases]]></category>
		<category><![CDATA[CBDT]]></category>
		<category><![CDATA[consolidated statement]]></category>
		<category><![CDATA[department]]></category>
		<category><![CDATA[e mail address]]></category>
		<category><![CDATA[FORM]]></category>
		<category><![CDATA[Interest]]></category>
		<category><![CDATA[ITR]]></category>
		<category><![CDATA[national securities]]></category>
		<category><![CDATA[nsdl]]></category>
		<category><![CDATA[quarterly returns]]></category>
		<category><![CDATA[Return]]></category>
		<category><![CDATA[tax]]></category>
		<category><![CDATA[tcs]]></category>
		<category><![CDATA[TDS]]></category>
		<category><![CDATA[TIN]]></category>
		<category><![CDATA[transaction record]]></category>
		<category><![CDATA[utn]]></category>

		<guid isPermaLink="false">http://www.taxguru.in/?p=8932</guid>
		<description><![CDATA[It has been directed that ITR-1 to ITR-8 shall require the quoting of the relevant UTN for every TDS or TCS claim made by an assessee and that the credit for any TDS/TCS claim will be allowed only if the assessee quotes the relevant UTN and the said UTN matches with that in the database [...]]]></description>
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		<slash:comments>17</slash:comments>
		</item>
		<item>
		<title>Foreign Exchange Management (Current Account Transactions) (Amendment) Rules, 2009</title>
		<link>http://taxguru.in/fema/foreign-exchange-management-current-account-transactions-amendment-rules-2009.html</link>
		<comments>http://taxguru.in/fema/foreign-exchange-management-current-account-transactions-amendment-rules-2009.html#comments</comments>
		<pubDate>Sun, 31 May 2009 08:15:49 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[FEMA]]></category>
		<category><![CDATA[amendments]]></category>
		<category><![CDATA[central]]></category>
		<category><![CDATA[central government]]></category>
		<category><![CDATA[corporate]]></category>
		<category><![CDATA[current account]]></category>
		<category><![CDATA[Donation]]></category>
		<category><![CDATA[earnings]]></category>
		<category><![CDATA[educational institutes]]></category>
		<category><![CDATA[exchange]]></category>
		<category><![CDATA[foreign exchange management]]></category>
		<category><![CDATA[Gift]]></category>
		<category><![CDATA[infrastructure]]></category>
		<category><![CDATA[institutions]]></category>
		<category><![CDATA[Interest]]></category>
		<category><![CDATA[investment fund]]></category>
		<category><![CDATA[investments]]></category>
		<category><![CDATA[management act]]></category>
		<category><![CDATA[notifications]]></category>
		<category><![CDATA[private visits]]></category>
		<category><![CDATA[Promoters]]></category>
		<category><![CDATA[remittance]]></category>
		<category><![CDATA[remittances]]></category>
		<category><![CDATA[remitter]]></category>
		<category><![CDATA[reserve]]></category>

		<guid isPermaLink="false">http://www.taxguru.in/?p=8753</guid>
		<description><![CDATA[Notification No. G.S.R. 349(E) In exercise of the powers conferred by sub-section (1) and clause (a) of sub-section (2) of section 46 of the Foreign Exchange Management Act, 1999 (42 of 1999) and in consultation with the Reserve Bank, the Central Government, having considered it necessary in the public interest, hereby makes the following further [...]]]></description>
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		<slash:comments>2</slash:comments>
		</item>
		<item>
		<title>Determination of residential status of Assessee not resident in India in 9 out of 10 previous years</title>
		<link>http://taxguru.in/income-tax-case-laws/determination-of-residential-status-of-assessee-not-resident-in-india-in-9-out-of-10-previous-years.html</link>
		<comments>http://taxguru.in/income-tax-case-laws/determination-of-residential-status-of-assessee-not-resident-in-india-in-9-out-of-10-previous-years.html#comments</comments>
		<pubDate>Sun, 24 May 2009 08:38:07 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Income Tax Case Laws]]></category>
		<category><![CDATA[APPEAL]]></category>
		<category><![CDATA[Assessment]]></category>
		<category><![CDATA[authorities]]></category>
		<category><![CDATA[cases]]></category>
		<category><![CDATA[circulars]]></category>
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		<category><![CDATA[DEEDS]]></category>
		<category><![CDATA[Exemption]]></category>
		<category><![CDATA[Finance]]></category>
		<category><![CDATA[Interest]]></category>
		<category><![CDATA[itat]]></category>
		<category><![CDATA[ITR]]></category>
		<category><![CDATA[judgment]]></category>
		<category><![CDATA[judgments]]></category>
		<category><![CDATA[non-resident]]></category>
		<category><![CDATA[not resident]]></category>
		<category><![CDATA[paragraph]]></category>
		<category><![CDATA[precedents]]></category>
		<category><![CDATA[previous years]]></category>
		<category><![CDATA[residential status]]></category>
		<category><![CDATA[tax]]></category>
		<category><![CDATA[tribunal]]></category>

		<guid isPermaLink="false">http://www.taxguru.in/?p=8557</guid>
		<description><![CDATA[SUMMARY OF CASE LAW Where the individual is resident in the previous year, but was not a resident in India in 9 out of 10 previous years preceding the year or was in India for a total period of 730 days or more in seven previous years then his residential status will be that of [...]]]></description>
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		<slash:comments>2</slash:comments>
		</item>
		<item>
		<title>Interest to Partners is allowable even if there is no book profit</title>
		<link>http://taxguru.in/income-tax-case-laws/interest-to-partners-is-allowable-even-if-there-is-no-book-profit.html</link>
		<comments>http://taxguru.in/income-tax-case-laws/interest-to-partners-is-allowable-even-if-there-is-no-book-profit.html#comments</comments>
		<pubDate>Sun, 24 May 2009 07:33:30 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Income Tax Case Laws]]></category>
		<category><![CDATA[APPEAL]]></category>
		<category><![CDATA[Book Profit]]></category>
		<category><![CDATA[Computer]]></category>
		<category><![CDATA[Finance]]></category>
		<category><![CDATA[gain]]></category>
		<category><![CDATA[Interest]]></category>
		<category><![CDATA[Interest to Partners]]></category>
		<category><![CDATA[itat]]></category>
		<category><![CDATA[profits]]></category>
		<category><![CDATA[remuneration]]></category>

		<guid isPermaLink="false">http://www.taxguru.in/?p=8549</guid>
		<description><![CDATA[SUMMARY OF CASE LAW If the rate of interest payable to partners to their capital balances is within the prescribed percentage, then such amount of interest is allowable as deduction from the computation of business income; thus, there is no requirement of having any book profit as a pre-condition for granting deduction in respect of [...]]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Merely because agreement named as license agreement is not enough to attract section 194-I</title>
		<link>http://taxguru.in/income-tax-case-laws/merely-because-agreement-named-as-license-agreement-is-not-enough-to-attract-section-194-i.html</link>
		<comments>http://taxguru.in/income-tax-case-laws/merely-because-agreement-named-as-license-agreement-is-not-enough-to-attract-section-194-i.html#comments</comments>
		<pubDate>Sat, 23 May 2009 18:08:29 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Income Tax Case Laws]]></category>
		<category><![CDATA[accommodation]]></category>
		<category><![CDATA[accountants]]></category>
		<category><![CDATA[agent]]></category>
		<category><![CDATA[amendments]]></category>
		<category><![CDATA[APPEAL]]></category>
		<category><![CDATA[assets]]></category>
		<category><![CDATA[authorities]]></category>
		<category><![CDATA[bench]]></category>
		<category><![CDATA[benches]]></category>
		<category><![CDATA[circulars]]></category>
		<category><![CDATA[COMMISSION]]></category>
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		<category><![CDATA[converter]]></category>
		<category><![CDATA[corporates]]></category>
		<category><![CDATA[customs]]></category>
		<category><![CDATA[Deduction]]></category>
		<category><![CDATA[Examination]]></category>
		<category><![CDATA[Examinations]]></category>
		<category><![CDATA[india]]></category>
		<category><![CDATA[Interest]]></category>
		<category><![CDATA[itat]]></category>
		<category><![CDATA[job]]></category>
		<category><![CDATA[jobs]]></category>
		<category><![CDATA[landlord]]></category>
		<category><![CDATA[liabilities]]></category>
		<category><![CDATA[obligation]]></category>
		<category><![CDATA[office]]></category>
		<category><![CDATA[premises]]></category>
		<category><![CDATA[provision]]></category>
		<category><![CDATA[quarters]]></category>
		<category><![CDATA[Royalty]]></category>
		<category><![CDATA[storage]]></category>
		<category><![CDATA[tax]]></category>
		<category><![CDATA[TDS]]></category>
		<category><![CDATA[wordings]]></category>

		<guid isPermaLink="false">http://www.taxguru.in/?p=8532</guid>
		<description><![CDATA[CASE LAW DETAILS Decided by: ITAT, INDORE BENCH, INDORE, In The case of: J. C. Bansal v. TRO, Appeal No. : ITA Nos. 115 to 117/Ind/2005, Decided on: May 23, 2008  RELEVENT PARAGRAPH  20. On examination of the license agreement and schedule attached with the same, we find that entire factory building along with plant [...]]]></description>
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		<slash:comments>1</slash:comments>
		</item>
		<item>
		<title>Securities and Exchange Board of India (Investor Protection and Education Fund) Regulations, 2009</title>
		<link>http://taxguru.in/sebi/securities-and-exchange-board-of-india-investor-protection-and-education-fund-regulations-2009.html</link>
		<comments>http://taxguru.in/sebi/securities-and-exchange-board-of-india-investor-protection-and-education-fund-regulations-2009.html#comments</comments>
		<pubDate>Fri, 22 May 2009 18:42:37 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[SEBI]]></category>
		<category><![CDATA[advisory committee]]></category>
		<category><![CDATA[awareness activities]]></category>
		<category><![CDATA[Deduction]]></category>
		<category><![CDATA[Donation]]></category>
		<category><![CDATA[education fund]]></category>
		<category><![CDATA[educational activities]]></category>
		<category><![CDATA[establishments]]></category>
		<category><![CDATA[exchange board]]></category>
		<category><![CDATA[expenditures]]></category>
		<category><![CDATA[Interest]]></category>
		<category><![CDATA[investments]]></category>
		<category><![CDATA[investor education]]></category>
		<category><![CDATA[investor protection]]></category>
		<category><![CDATA[Investor Protection and Education Fund]]></category>
		<category><![CDATA[ipef]]></category>
		<category><![CDATA[legal proceedings]]></category>
		<category><![CDATA[notifications]]></category>
		<category><![CDATA[receipt]]></category>
		<category><![CDATA[Refund]]></category>
		<category><![CDATA[regulators]]></category>
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		<category><![CDATA[SEBI notifications]]></category>
		<category><![CDATA[securities and exchange]]></category>
		<category><![CDATA[securities and exchange board of india]]></category>
		<category><![CDATA[Share]]></category>
		<category><![CDATA[shareholder]]></category>
		<category><![CDATA[Shares]]></category>
		<category><![CDATA[Statement]]></category>
		<category><![CDATA[Takeover]]></category>
		<category><![CDATA[takeovers]]></category>
		<category><![CDATA[tribunal]]></category>

		<guid isPermaLink="false">http://www.taxguru.in/?p=8486</guid>
		<description><![CDATA[Notification of SEBI (Investor Protection and Education Fund) Regulations, 2009 SEBI has notified the SEBI (Investor Protection and Education Fund) Regulations, 2009, on May 19, 2009, with a view to strengthening its activities for investor protection.  The salient features of these regulations are as follows:  The Fund shall be used for the protection of investors and promotion [...]]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Download E-Filing ITR 1, ITR 2, ITR-3 &amp; ITR-4 for A.Y. 2009-10 Released by Income Tax Department</title>
		<link>http://taxguru.in/income-tax/download-e-filing-itr-1-itr-2-itr-3-itr-4-for-ay-2009-10-released-by-income-tax-department.html</link>
		<comments>http://taxguru.in/income-tax/download-e-filing-itr-1-itr-2-itr-3-itr-4-for-ay-2009-10-released-by-income-tax-department.html#comments</comments>
		<pubDate>Mon, 18 May 2009 02:26:29 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Income Tax]]></category>
		<category><![CDATA[acknowledgement]]></category>
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		<category><![CDATA[income tax returns]]></category>
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		<category><![CDATA[Internet]]></category>
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		<category><![CDATA[ITR]]></category>
		<category><![CDATA[itr 1]]></category>
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		<category><![CDATA[itr form]]></category>
		<category><![CDATA[ITR in Excel Format]]></category>
		<category><![CDATA[ITR in Excel Format for A.Y. 2009-10]]></category>
		<category><![CDATA[itrs]]></category>
		<category><![CDATA[losses]]></category>
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		<category><![CDATA[partnership firm]]></category>
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		<category><![CDATA[registrations]]></category>
		<category><![CDATA[Return]]></category>
		<category><![CDATA[salaries]]></category>
		<category><![CDATA[salary]]></category>
		<category><![CDATA[software tools]]></category>
		<category><![CDATA[tax]]></category>
		<category><![CDATA[xml format]]></category>

		<guid isPermaLink="false">http://www.taxguru.in/?p=8307</guid>
		<description><![CDATA[Filing of Income Tax returns is a legal obligation of every Individual/HUF whose total income for the previous year has exceeded the maximum amount that is not chargeable for income tax under the provisions of the I.T Act, 1961. Income Tax Department has introduced a convenient way to file these returns online using the Internet.]]></description>
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		<slash:comments>32</slash:comments>
		</item>
		<item>
		<title>Concessional ticket to travel Agents cannot be termed as commission</title>
		<link>http://taxguru.in/income-tax-case-laws/concessional-ticket-to-travel-agents-cannot-be-termed-as-commission.html</link>
		<comments>http://taxguru.in/income-tax-case-laws/concessional-ticket-to-travel-agents-cannot-be-termed-as-commission.html#comments</comments>
		<pubDate>Sun, 17 May 2009 06:20:52 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Income Tax Case Laws]]></category>
		<category><![CDATA[accountability]]></category>
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		<category><![CDATA[wordings]]></category>

		<guid isPermaLink="false">http://www.taxguru.in/?p=8290</guid>
		<description><![CDATA[SUMMARY OF CASE LAW The relationship between the assessee-airlines and the travel agent is one of principal and agent; the supplementary commission which is the amount retained by the travel agent is commission within the meaning of section 194H read with Explanation (i) to the said section; the difference between the full value of the [...]]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Interest income from banks on fixed deposits not necessarily Income from Other Sources</title>
		<link>http://taxguru.in/income-tax-case-laws/interest-income-from-banks-on-fixed-deposits-not-necessarily-income-from-other-sources.html</link>
		<comments>http://taxguru.in/income-tax-case-laws/interest-income-from-banks-on-fixed-deposits-not-necessarily-income-from-other-sources.html#comments</comments>
		<pubDate>Sat, 16 May 2009 14:56:37 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Income Tax Case Laws]]></category>
		<category><![CDATA[Assessment]]></category>
		<category><![CDATA[banks]]></category>
		<category><![CDATA[bench]]></category>
		<category><![CDATA[borrowers]]></category>
		<category><![CDATA[business income]]></category>
		<category><![CDATA[business profit]]></category>
		<category><![CDATA[capital receipt]]></category>
		<category><![CDATA[case law]]></category>
		<category><![CDATA[customs]]></category>
		<category><![CDATA[Deduction]]></category>
		<category><![CDATA[derivatives]]></category>
		<category><![CDATA[Interest]]></category>
		<category><![CDATA[Interest Income]]></category>
		<category><![CDATA[investments]]></category>
		<category><![CDATA[judgments]]></category>
		<category><![CDATA[mumbai]]></category>
		<category><![CDATA[profession]]></category>
		<category><![CDATA[profits]]></category>
		<category><![CDATA[taxation]]></category>
		<category><![CDATA[term deposits]]></category>

		<guid isPermaLink="false">http://www.taxguru.in/?p=8271</guid>
		<description><![CDATA[SUMMARY OF CASE LAW Normally, on the placing of funds in banks on short-term or long-term deposits, the interest income derived from those sources would be &#8220;income from other sources&#8221;; but it is not so easy to decide that interest income is always assessable under the head &#8220;income from other sources&#8221;; each case has got [...]]]></description>
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		<slash:comments>1</slash:comments>
		</item>
		<item>
		<title>Department can’t to decide when assessee to borrow and when it should not borrow</title>
		<link>http://taxguru.in/income-tax-case-laws/department-can%e2%80%99t-to-decide-when-assessee-to-borrow-and-when-it-should-not-borrow.html</link>
		<comments>http://taxguru.in/income-tax-case-laws/department-can%e2%80%99t-to-decide-when-assessee-to-borrow-and-when-it-should-not-borrow.html#comments</comments>
		<pubDate>Sat, 16 May 2009 14:53:36 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Income Tax Case Laws]]></category>
		<category><![CDATA[act]]></category>
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		<category><![CDATA[authorities]]></category>
		<category><![CDATA[bench]]></category>
		<category><![CDATA[benches]]></category>
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		<category><![CDATA[Builders]]></category>
		<category><![CDATA[business decision]]></category>
		<category><![CDATA[business purpose]]></category>
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		<category><![CDATA[Computer]]></category>
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		<category><![CDATA[expenditures]]></category>
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		<category><![CDATA[income]]></category>
		<category><![CDATA[Interest]]></category>
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		<category><![CDATA[paragraph 6]]></category>
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		<guid isPermaLink="false">http://www.taxguru.in/?p=8267</guid>
		<description><![CDATA[  SUMMARY OF CASE LAW The assessee may make an imprudent business decision but the same itself does not empower the Revenue to disallow legitimate and bona fide business expenditure.  CASE LAW DETAILS Decided by: ITAT, `D&#8217; BENCH, AHMEDABAD, In The case of: Shivganga Builders Pvt. Ltd. v. ACIT, Appeal No. : ITA NO. 1189/AHD/2004, [...]]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Interest Free Loan from a non-relative is not liable to tax</title>
		<link>http://taxguru.in/income-tax/interest-free-loan-from-a-non-relative-is-not-liable-to-tax.html</link>
		<comments>http://taxguru.in/income-tax/interest-free-loan-from-a-non-relative-is-not-liable-to-tax.html#comments</comments>
		<pubDate>Wed, 13 May 2009 15:03:28 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Income Tax]]></category>
		<category><![CDATA[APPEAL]]></category>
		<category><![CDATA[Assessment]]></category>
		<category><![CDATA[borrowers]]></category>
		<category><![CDATA[hindu undivided family]]></category>
		<category><![CDATA[income tax act]]></category>
		<category><![CDATA[Interest]]></category>
		<category><![CDATA[interest free loan]]></category>
		<category><![CDATA[interest free loans]]></category>
		<category><![CDATA[itat]]></category>
		<category><![CDATA[relatives]]></category>
		<category><![CDATA[section 56]]></category>
		<category><![CDATA[term loan]]></category>
		<category><![CDATA[unsecured loan]]></category>

		<guid isPermaLink="false">http://www.taxguru.in/?p=8063</guid>
		<description><![CDATA[Decided by ITAT Mumbai in the case of Chandrakant H. Shah v. ITO . Appeal No. ITA NO. 3966/MUM/2008 Decided on JANUARY 12, 2008. In a first-of-its-kind judgement, the ITAT Mumbai recently ruled that a recipient of an interest-free loan from a non-relative is not liable to pay tax. The judgement will come as a major [...]]]></description>
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		<slash:comments>3</slash:comments>
		</item>
		<item>
		<title>Contract for sale of goods will not be covered within ambit of section 194C of Income Tax Act, 1961</title>
		<link>http://taxguru.in/income-tax-case-laws/contract-for-sale-of-goods-will-not-be-covered-within-ambit-of-section-194c-of-income-tax-act-1961.html</link>
		<comments>http://taxguru.in/income-tax-case-laws/contract-for-sale-of-goods-will-not-be-covered-within-ambit-of-section-194c-of-income-tax-act-1961.html#comments</comments>
		<pubDate>Sun, 10 May 2009 15:45:10 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Income Tax Case Laws]]></category>
		<category><![CDATA[ambit]]></category>
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		<category><![CDATA[careful consideration]]></category>
		<category><![CDATA[circulars]]></category>
		<category><![CDATA[Glenmark]]></category>
		<category><![CDATA[glenmark pharmaceuticals ltd]]></category>
		<category><![CDATA[Interest]]></category>
		<category><![CDATA[job]]></category>
		<category><![CDATA[manufacturing process]]></category>
		<category><![CDATA[medicines]]></category>
		<category><![CDATA[premises]]></category>
		<category><![CDATA[Sales Tax]]></category>
		<category><![CDATA[Section 194C]]></category>

		<guid isPermaLink="false">http://www.taxguru.in/?p=7974</guid>
		<description><![CDATA[CASE LAW DETAILS Decided by:. ITAT, MUMBAI BENCHES `G&#8217; MUMBAI, In The case of: Glenmark Pharmaceuticals Ltd. v ITO (TDS),  Appeal No. : ITA NO. 935/Mum./2007, Decided on: March 5, 2009 SUMMARY OF CASE LAW Simply because the assessee monitors the manufacturing process it does not change the character of the transaction  RELEVENT PARAGRAPH 23. After careful [...]]]></description>
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		<slash:comments>2</slash:comments>
		</item>
		<item>
		<title>Tax gains, easy compliance in comparison to companies set to make LLP popular</title>
		<link>http://taxguru.in/partnership-act/tax-gains-easy-compliance-in-comparison-to-companies-set-to-make-llp-popular.html</link>
		<comments>http://taxguru.in/partnership-act/tax-gains-easy-compliance-in-comparison-to-companies-set-to-make-llp-popular.html#comments</comments>
		<pubDate>Tue, 28 Apr 2009 15:46:42 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Partnership]]></category>
		<category><![CDATA[company secretaries]]></category>
		<category><![CDATA[cost accountants]]></category>
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		<category><![CDATA[gain]]></category>
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		<category><![CDATA[Limited liability partnership]]></category>
		<category><![CDATA[LLP]]></category>
		<category><![CDATA[MCA]]></category>
		<category><![CDATA[ministry of finance]]></category>

		<guid isPermaLink="false">http://www.taxguru.in/?p=6607</guid>
		<description><![CDATA[The ministry of corporate affairs has said that out of the eight lakh companies in India, a large chunk of them would be interested in getting converted into limited liability partnership (LLP) once a suitable tax structure for LLP is brought in. &#8220;We are getting enquiries from thousands of companies every week who are interested [...]]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>The levy under section 234B is compensatory in nature and is not in the nature of penalty: HC Delhi</title>
		<link>http://taxguru.in/income-tax-case-laws/the-levy-under-section-234b-is-compensatory-in-nature-and-is-not-in-the-nature-of-penalty-hc-delhi.html</link>
		<comments>http://taxguru.in/income-tax-case-laws/the-levy-under-section-234b-is-compensatory-in-nature-and-is-not-in-the-nature-of-penalty-hc-delhi.html#comments</comments>
		<pubDate>Sun, 22 Mar 2009 10:48:09 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Income Tax Case Laws]]></category>
		<category><![CDATA[finance ltd]]></category>
		<category><![CDATA[Interest]]></category>
		<category><![CDATA[kotak mahendra]]></category>
		<category><![CDATA[Penalty]]></category>
		<category><![CDATA[tribunal]]></category>

		<guid isPermaLink="false">http://www.taxguru.in/?p=3768</guid>
		<description><![CDATA[CASE LAW DETAILS Decided by: HIGH COURT OF DELHI In The case of: CIT v Anand Prakash Appeal No. : ITA No. 116/2007 Decided on: February 27, 2009 RELEVENT PARAGRAPH 11. We have examined the decisions cited by the counsel on both sides and after considering the submissions made by them, we agree with the [...]]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Sebi proposed to extend trading hours to align the domestic bourses with international markets</title>
		<link>http://taxguru.in/sebi/sebi-proposed-to-extend-trading-hours-to-align-the-domestic-bourses-with-international-markets.html</link>
		<comments>http://taxguru.in/sebi/sebi-proposed-to-extend-trading-hours-to-align-the-domestic-bourses-with-international-markets.html#comments</comments>
		<pubDate>Thu, 19 Mar 2009 19:47:15 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[SEBI]]></category>
		<category><![CDATA[american markets]]></category>
		<category><![CDATA[global markets]]></category>
		<category><![CDATA[Interest]]></category>
		<category><![CDATA[market regulator]]></category>
		<category><![CDATA[securities and exchange board of india]]></category>
		<category><![CDATA[securities market]]></category>

		<guid isPermaLink="false">http://www.taxguru.in/?p=3461</guid>
		<description><![CDATA[The Securities and Exchange Board of India on Wednesday proposed to extend trading hours in exchanges to align the domestic bourses with international markets and asked various stakeholders for their opinion. &#8220;With the increased integration of the global markets, information originating from different countries has a bearing on Indian securities market,&#8221; Sebi, the market regulator, [...]]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Finance ministry agreed on One-year term loan repayment moratorium for textile units</title>
		<link>http://taxguru.in/finance/finance-ministry-agreed-on-one-year-term-loan-repayment-moratorium-for-textile-units.html</link>
		<comments>http://taxguru.in/finance/finance-ministry-agreed-on-one-year-term-loan-repayment-moratorium-for-textile-units.html#comments</comments>
		<pubDate>Sun, 15 Mar 2009 14:27:22 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Finance]]></category>
		<category><![CDATA[indian textiles]]></category>
		<category><![CDATA[Interest]]></category>
		<category><![CDATA[investments]]></category>
		<category><![CDATA[Moratorium for]]></category>
		<category><![CDATA[reserve]]></category>
		<category><![CDATA[term loans]]></category>
		<category><![CDATA[textiles industries]]></category>

		<guid isPermaLink="false">http://www.taxguru.in/?p=3343</guid>
		<description><![CDATA[The finance ministry has agreed on a one-year moratorium on repayment of term loans taken by textile units for technology upgrade. The move will benefit domestic textile manufacturers, which are facing falling profitability due to slowing demand for their products. “The department of financial services and finance secretary (Arun Ramanathan) have agreed to loosen the [...]]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>IT dept refuses to disclose info on IAS officials under RTI</title>
		<link>http://taxguru.in/corporate-law/it-dept-refuses-to-disclose-info-on-ias-officials-under-rti.html</link>
		<comments>http://taxguru.in/corporate-law/it-dept-refuses-to-disclose-info-on-ias-officials-under-rti.html#comments</comments>
		<pubDate>Tue, 10 Mar 2009 01:41:11 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Corporate Law]]></category>
		<category><![CDATA[IAS officials under RTI]]></category>
		<category><![CDATA[immovable property]]></category>
		<category><![CDATA[Income tax department]]></category>
		<category><![CDATA[Interest]]></category>
		<category><![CDATA[NGO]]></category>
		<category><![CDATA[RTI]]></category>
		<category><![CDATA[rti act]]></category>

		<guid isPermaLink="false">http://www.taxguru.in/?p=3163</guid>
		<description><![CDATA[The Central Information Commission feels that details of property belonging to government servants and even judges of the high courts and the Supreme Court are subject to the purview of the Right To Information (RTI) Act but some government departments, including the Income-Tax deparment, seem to think otherwise. The Income-Tax department, the Regional Passport Office, [...]]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Increase in turnover cannot be the sole criteria for steep increase in remuneration payable to director</title>
		<link>http://taxguru.in/income-tax-case-laws/increase-in-turnover-cannot-be-the-sole-criteria-for-steep-increase-in-remuneration-payable-to-director.html</link>
		<comments>http://taxguru.in/income-tax-case-laws/increase-in-turnover-cannot-be-the-sole-criteria-for-steep-increase-in-remuneration-payable-to-director.html#comments</comments>
		<pubDate>Tue, 03 Mar 2009 07:12:42 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Income Tax Case Laws]]></category>
		<category><![CDATA[Assessment]]></category>
		<category><![CDATA[board of director]]></category>
		<category><![CDATA[Interest]]></category>
		<category><![CDATA[private limited company]]></category>
		<category><![CDATA[Remuneration to Directors]]></category>
		<category><![CDATA[salaries]]></category>
		<category><![CDATA[salary]]></category>

		<guid isPermaLink="false">http://www.taxguru.in/?p=2969</guid>
		<description><![CDATA[CASE LAW DETAILS Decided by: ITAT, PUNE BENCH `B&#8217;, PUNE In The case of: Shree Laxmi Marketing Pvt. Ltd. v.  ACIT Appeal No. : ITA No. 1657/PN/2004 Decided on: January 31, 2008 SUMMARY OF CASE LAW An employer, in fixing the remuneration of his employees, would consider the extent of his business, the nature of [...]]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Rights of owners versus right of company in liquidation over title deeds mortgaged by owners&#8217; POA for raising loans</title>
		<link>http://taxguru.in/general-info/rights-of-owners-versus-right-of-company-in-liquidation-over-title-deeds-mortgaged-by-owners-poa-for-raising-loans.html</link>
		<comments>http://taxguru.in/general-info/rights-of-owners-versus-right-of-company-in-liquidation-over-title-deeds-mortgaged-by-owners-poa-for-raising-loans.html#comments</comments>
		<pubDate>Sat, 28 Feb 2009 15:03:56 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[General Info]]></category>
		<category><![CDATA[affidavit]]></category>
		<category><![CDATA[company in liquidation]]></category>
		<category><![CDATA[Contract Act]]></category>
		<category><![CDATA[evidences]]></category>
		<category><![CDATA[Interest]]></category>
		<category><![CDATA[investments]]></category>
		<category><![CDATA[Mercantile]]></category>
		<category><![CDATA[money]]></category>
		<category><![CDATA[Rights of owners]]></category>

		<guid isPermaLink="false">http://www.taxguru.in/?p=2915</guid>
		<description><![CDATA[CASE LAW DETAILS Decided by: HIGH COURT OF MADRAS In The case of: The Committee Representing RBF Nidhi Ltd. v. Vipanchi Investments Pvt. Ltd. Appeal No. : OSA Nos. 343 to 345, 390 to 392 of 2007 &#38; 130 to 132 of 2008 Decided on: February 3, 2009 SUMMARY OF CASE LAW The company in [...]]]></description>
		<wfw:commentRss>http://taxguru.in/general-info/rights-of-owners-versus-right-of-company-in-liquidation-over-title-deeds-mortgaged-by-owners-poa-for-raising-loans.html/feed/</wfw:commentRss>
		<slash:comments>1</slash:comments>
		</item>
		<item>
		<title>Bharti gets Rs. 50 cr Income Tab bill for non-payment of tax</title>
		<link>http://taxguru.in/income-tax/bharti-gets-rs-50-cr-income-tab-bill-for-non-payment-of-tax.html</link>
		<comments>http://taxguru.in/income-tax/bharti-gets-rs-50-cr-income-tab-bill-for-non-payment-of-tax.html#comments</comments>
		<pubDate>Wed, 25 Feb 2009 02:53:15 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Income Tax]]></category>
		<category><![CDATA[abn amro bank]]></category>
		<category><![CDATA[accountants]]></category>
		<category><![CDATA[airtel]]></category>
		<category><![CDATA[Bank]]></category>
		<category><![CDATA[bharti tele]]></category>
		<category><![CDATA[Interest]]></category>
		<category><![CDATA[Interest on Income Tax]]></category>
		<category><![CDATA[Results]]></category>
		<category><![CDATA[stockholm branch]]></category>
		<category><![CDATA[swedish export credit]]></category>
		<category><![CDATA[Tax Treaty]]></category>

		<guid isPermaLink="false">http://www.taxguru.in/?p=2758</guid>
		<description><![CDATA[The Income Tax Department has slapped a bill of Rs50 crore on leading private telecom company Bharti Airtel for &#8220;non-payment of taxes on interest paid on loans taken by it&#8221; and allegedly furnishing wrong information to the tax department. Bharti has contested the claim, but has also paid more than Rs40 crore to the department, [...]]]></description>
		<wfw:commentRss>http://taxguru.in/income-tax/bharti-gets-rs-50-cr-income-tab-bill-for-non-payment-of-tax.html/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Notification for Reducing Effective Rate of Service Tax from 12% to 10%</title>
		<link>http://taxguru.in/service-tax/notification-for-reducing-effective-rate-of-service-tax-from-12-to-10.html</link>
		<comments>http://taxguru.in/service-tax/notification-for-reducing-effective-rate-of-service-tax-from-12-to-10.html#comments</comments>
		<pubDate>Wed, 25 Feb 2009 01:38:48 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Service Tax]]></category>
		<category><![CDATA[Interest]]></category>
		<category><![CDATA[Service Tax Rates]]></category>
		<category><![CDATA[tax]]></category>

		<guid isPermaLink="false">http://www.taxguru.in/?p=2726</guid>
		<description><![CDATA[NOTIFICATION NO 8/2009-ST Dated : February 24, 2009 In exercise of the powers conferred by sub-section (1) of section 93 of the Finance Act, 1994 (32 of 1994) (hereinafter referred to as the Finance Act), the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby exempts all [...]]]></description>
		<wfw:commentRss>http://taxguru.in/service-tax/notification-for-reducing-effective-rate-of-service-tax-from-12-to-10.html/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Advances to sister concerns must be presumed to have come out of own funds and not borrowed funds</title>
		<link>http://taxguru.in/income-tax-case-laws/advances-to-sister-concerns-must-be-presumed-to-have-come-out-of-own-funds-and-not-borrowed-funds.html</link>
		<comments>http://taxguru.in/income-tax-case-laws/advances-to-sister-concerns-must-be-presumed-to-have-come-out-of-own-funds-and-not-borrowed-funds.html#comments</comments>
		<pubDate>Thu, 19 Feb 2009 06:47:38 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Income Tax Case Laws]]></category>
		<category><![CDATA[Advance to Sister Concerns]]></category>
		<category><![CDATA[APPEAL]]></category>
		<category><![CDATA[Deduction]]></category>
		<category><![CDATA[Depreciation]]></category>
		<category><![CDATA[income]]></category>
		<category><![CDATA[Interest]]></category>
		<category><![CDATA[investments]]></category>
		<category><![CDATA[itat]]></category>
		<category><![CDATA[Shares]]></category>

		<guid isPermaLink="false">http://www.taxguru.in/?p=2451</guid>
		<description><![CDATA[CIT vs. Reliance Utilities (Bombay High Court) SUMMARY Where the assessee had its own funds as well as borrowed funds and it advanced funds to its sister concerns for allegedly non-business purposes and the question arose whether the AO was justified in disallowing the interest on the borrowed funds on the ground that they had [...]]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Satyam bidders will not get to see Accounts before bidding</title>
		<link>http://taxguru.in/chartered-accountant/satyam-bidders-will-not-get-to-see-accounts-before-bidding.html</link>
		<comments>http://taxguru.in/chartered-accountant/satyam-bidders-will-not-get-to-see-accounts-before-bidding.html#comments</comments>
		<pubDate>Sun, 15 Feb 2009 12:54:02 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[CA CS ICWA]]></category>
		<category><![CDATA[allotment]]></category>
		<category><![CDATA[Audit]]></category>
		<category><![CDATA[Computer]]></category>
		<category><![CDATA[Interest]]></category>
		<category><![CDATA[investments]]></category>
		<category><![CDATA[Raju]]></category>
		<category><![CDATA[Satyam]]></category>
		<category><![CDATA[Satyam bidders]]></category>

		<guid isPermaLink="false">http://www.taxguru.in/?p=2341</guid>
		<description><![CDATA[The suitors seeking to take over the scam-hit Satyam Computers will not be able to go through the restated financial statement or the  third quarter results prior to the bidding, a senior company official said. &#8220;Obviously&#8230; (the bidders would not be able to see them as these documents would not be prepared by then). Considering [...]]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Mayawati wins again in ITAT &#8211; can gift to a politician be treated as Professional income?</title>
		<link>http://taxguru.in/income-tax-case-laws/mayawati-wins-again-in-itat-can-gift-to-a-politician-be-treated-as-professional-income.html</link>
		<comments>http://taxguru.in/income-tax-case-laws/mayawati-wins-again-in-itat-can-gift-to-a-politician-be-treated-as-professional-income.html#comments</comments>
		<pubDate>Tue, 10 Feb 2009 06:19:57 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Income Tax Case Laws]]></category>
		<category><![CDATA[accountants]]></category>
		<category><![CDATA[APPEAL]]></category>
		<category><![CDATA[Assessment]]></category>
		<category><![CDATA[Gift as Buiness Income]]></category>
		<category><![CDATA[Income tax department]]></category>
		<category><![CDATA[Interest]]></category>
		<category><![CDATA[itat]]></category>
		<category><![CDATA[love and affection]]></category>
		<category><![CDATA[Mayawati]]></category>
		<category><![CDATA[principles of natural justice]]></category>
		<category><![CDATA[professional income]]></category>
		<category><![CDATA[Tax on Gift]]></category>

		<guid isPermaLink="false">http://www.taxguru.in/?p=2093</guid>
		<description><![CDATA[Mayawati wins again in ITAT &#8211; can gift to a politician be treated as Professional income? &#8211; Gift of Rs 11 Lakhs allowed by AO after proper inquiry and consultation with CIT – Commissioner&#8217; s Review order quashed: ITAT KM Mayawati the beloved Chief Minister is in the habit of getting huge gifts from her [...]]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>INTEREST ON FDR OUT OF TEMPORARY SURPLUS BUSINESS FUNDS IS BUSINESS: HC Mumbai</title>
		<link>http://taxguru.in/income-tax-case-laws/interest-on-fdr-out-of-temporary-surplus-business-funds-is-business-hc-mumbai.html</link>
		<comments>http://taxguru.in/income-tax-case-laws/interest-on-fdr-out-of-temporary-surplus-business-funds-is-business-hc-mumbai.html#comments</comments>
		<pubDate>Tue, 10 Feb 2009 03:05:59 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Income Tax Case Laws]]></category>
		<category><![CDATA[Assessment]]></category>
		<category><![CDATA[immovable properties]]></category>
		<category><![CDATA[Interest]]></category>
		<category><![CDATA[Interest Income]]></category>
		<category><![CDATA[news papers]]></category>
		<category><![CDATA[period of time]]></category>
		<category><![CDATA[petrol pumps]]></category>
		<category><![CDATA[profession]]></category>
		<category><![CDATA[tax]]></category>
		<category><![CDATA[telephone service providers]]></category>

		<guid isPermaLink="false">http://www.taxguru.in/?p=2073</guid>
		<description><![CDATA[Deposits and advances from customers and clients: In the course of business and profession many times advance money is received from customers and clients. The advance money or deposits are received for the purpose of execution of agreed work to be done which may involves supply of goods, rendering of services, execution of contracts, payments [...]]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Chargeability of interest income to tax when same is only technically accrued</title>
		<link>http://taxguru.in/income-tax-case-laws/chargeability-of-interest-income-to-tax-when-same-is-only-technically-accrued.html</link>
		<comments>http://taxguru.in/income-tax-case-laws/chargeability-of-interest-income-to-tax-when-same-is-only-technically-accrued.html#comments</comments>
		<pubDate>Sat, 31 Jan 2009 08:30:31 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Income Tax Case Laws]]></category>
		<category><![CDATA[financial services ltd]]></category>
		<category><![CDATA[ICAI]]></category>
		<category><![CDATA[income]]></category>
		<category><![CDATA[income tax act]]></category>
		<category><![CDATA[Interest]]></category>
		<category><![CDATA[Interest Income]]></category>
		<category><![CDATA[itat]]></category>
		<category><![CDATA[mercantile system]]></category>
		<category><![CDATA[method of accounting]]></category>
		<category><![CDATA[NPA]]></category>

		<guid isPermaLink="false">http://www.taxguru.in/?p=1835</guid>
		<description><![CDATA[Chargeability of interest income to tax when same is only technically accrued as per mercantile system of accounting followed by assessee. The provisions of section 145 of IT Act cannot override section 5 of the Act; if income has neither actually accrued nor received within the meaning of section 5; whatever section 145 may say, [...]]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Can Satyam claim a refund of taxes on onerstated income?</title>
		<link>http://taxguru.in/income-tax-case-laws/can-satyam-claim-a-refund-of-taxes-on-onerstated-income.html</link>
		<comments>http://taxguru.in/income-tax-case-laws/can-satyam-claim-a-refund-of-taxes-on-onerstated-income.html#comments</comments>
		<pubDate>Wed, 21 Jan 2009 12:58:39 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[CA CS ICWA]]></category>
		<category><![CDATA[Income Tax Case Laws]]></category>
		<category><![CDATA[amendments]]></category>
		<category><![CDATA[Assessment]]></category>
		<category><![CDATA[Computer]]></category>
		<category><![CDATA[Deduction]]></category>
		<category><![CDATA[department]]></category>
		<category><![CDATA[excess income]]></category>
		<category><![CDATA[income tax assessment]]></category>
		<category><![CDATA[Interest]]></category>
		<category><![CDATA[rectification]]></category>
		<category><![CDATA[Refund]]></category>
		<category><![CDATA[Satyam]]></category>
		<category><![CDATA[satyam computer services]]></category>
		<category><![CDATA[Self Assessment Tax]]></category>
		<category><![CDATA[taxation issues]]></category>

		<guid isPermaLink="false">http://www.taxguru.in/?p=1567</guid>
		<description><![CDATA[Today, the fraud at Satyam Computer Services is one of  the hottest topics around. There are so many questions relating to various taxation issues that are constantly cropping up. One of the common questions going through everyone&#8217;s mind is: Can Satyam claim a refund of taxes already paid on its inflated income for all the [...]]]></description>
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		<slash:comments>1</slash:comments>
		</item>
		<item>
		<title>Failure to remit tax will invite prosecution: IT department</title>
		<link>http://taxguru.in/income-tax/failure-to-remit-tax-will-invite-prosecution-it-department.html</link>
		<comments>http://taxguru.in/income-tax/failure-to-remit-tax-will-invite-prosecution-it-department.html#comments</comments>
		<pubDate>Sun, 18 Jan 2009 08:11:59 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Income Tax]]></category>
		<category><![CDATA[Advance Tax]]></category>
		<category><![CDATA[Income tax department]]></category>
		<category><![CDATA[Interest]]></category>
		<category><![CDATA[Penalty]]></category>
		<category><![CDATA[remittance]]></category>
		<category><![CDATA[Self Assessment Tax]]></category>
		<category><![CDATA[tax]]></category>
		<category><![CDATA[tax deducted at source]]></category>
		<category><![CDATA[TDS]]></category>

		<guid isPermaLink="false">http://www.taxguru.in/?p=1501</guid>
		<description><![CDATA[Noticing instances of non-remittance of Tax Deducted at Source (TDS), the Income Tax department on Thursday said that any failure to remit the tax would attract serious consequences including prosecution. The stipulated dates in respect of tax deducted to be remitted to central government were &#8211; &#8220;if deduction is by or on behalf of government, [...]]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>RIGHT TO INFORMATION: BACKGROUND &#8211; LAW AND PROCEDURE</title>
		<link>http://taxguru.in/corporate-law/right-to-information-background-law-and-procedure.html</link>
		<comments>http://taxguru.in/corporate-law/right-to-information-background-law-and-procedure.html#comments</comments>
		<pubDate>Thu, 15 Jan 2009 13:30:51 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Corporate Law]]></category>
		<category><![CDATA[Interest]]></category>
		<category><![CDATA[Penalty]]></category>
		<category><![CDATA[RTI]]></category>

		<guid isPermaLink="false">http://www.taxguru.in/?p=1325</guid>
		<description><![CDATA[Right to Information Act is based on the analogy that transparency leads to greater accountability and that in turn should lead to good governance. As more and more citizens start demanding the information, a message goes to the public authorities and public institutions at large that their decisions, actions and inactions are subject to public [...]]]></description>
		<wfw:commentRss>http://taxguru.in/corporate-law/right-to-information-background-law-and-procedure.html/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Why our banks need to be less lazy</title>
		<link>http://taxguru.in/finance/why-our-banks-need-to-be-less-lazy.html</link>
		<comments>http://taxguru.in/finance/why-our-banks-need-to-be-less-lazy.html#comments</comments>
		<pubDate>Tue, 23 Dec 2008 04:58:52 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Finance]]></category>
		<category><![CDATA[Banking System in India]]></category>
		<category><![CDATA[enhancement]]></category>
		<category><![CDATA[Inflation]]></category>
		<category><![CDATA[Interest]]></category>
		<category><![CDATA[liquidity requirement]]></category>
		<category><![CDATA[policy interest]]></category>
		<category><![CDATA[prime lending rates]]></category>
		<category><![CDATA[Repo]]></category>
		<category><![CDATA[reserve]]></category>
		<category><![CDATA[reserve bank of india]]></category>
		<category><![CDATA[reserve ratios]]></category>

		<guid isPermaLink="false">http://www.taxguru.in/?p=860</guid>
		<description><![CDATA[The use of monetary policy to stabilise growth has always been subject to concerns about effectiveness, often described as 'pushing on a string.' The central bank can lower rates and inject liquidity all it wants, but these measures will only have the desired impact if they translate into lower lending rates and larger flows of credit from the banking system.]]></description>
		<wfw:commentRss>http://taxguru.in/finance/why-our-banks-need-to-be-less-lazy.html/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Rent Income and Tax Provisions</title>
		<link>http://taxguru.in/income-tax/rent-income-and-tax.html</link>
		<comments>http://taxguru.in/income-tax/rent-income-and-tax.html#comments</comments>
		<pubDate>Tue, 23 Dec 2008 03:57:12 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Income Tax]]></category>
		<category><![CDATA[Income from House Property]]></category>
		<category><![CDATA[income tax liability]]></category>
		<category><![CDATA[Interest]]></category>
		<category><![CDATA[investments]]></category>
		<category><![CDATA[location amenities]]></category>
		<category><![CDATA[net income]]></category>
		<category><![CDATA[residential property]]></category>
		<category><![CDATA[Tax Sops]]></category>
		<category><![CDATA[taxable income]]></category>

		<guid isPermaLink="false">http://www.taxguru.in/?p=851</guid>
		<description><![CDATA[Tax on rental income - The rental income is added to the taxable income and tax liability is based on the tax slabs. Up to 30 percent of rental income can be deducted towards maintenance of the rented place and for payment of property tax etc.]]></description>
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		<slash:comments>1</slash:comments>
		</item>
		<item>
		<title>Double Taxation Avoidance Agreement Signed Between India and Tajikistan</title>
		<link>http://taxguru.in/income-tax/double-taxation-avoidance-agreement-signed-between-india-and-tajikistan.html</link>
		<comments>http://taxguru.in/income-tax/double-taxation-avoidance-agreement-signed-between-india-and-tajikistan.html#comments</comments>
		<pubDate>Mon, 01 Dec 2008 15:54:00 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Income Tax]]></category>
		<category><![CDATA[business profits]]></category>
		<category><![CDATA[constitution]]></category>
		<category><![CDATA[Deduction]]></category>
		<category><![CDATA[department]]></category>
		<category><![CDATA[double taxation avoidance]]></category>
		<category><![CDATA[DTAA]]></category>
		<category><![CDATA[government of india]]></category>
		<category><![CDATA[income]]></category>
		<category><![CDATA[Interest]]></category>
		<category><![CDATA[investments]]></category>
		<category><![CDATA[permanent establishment]]></category>
		<category><![CDATA[republic of tajikistan]]></category>
		<category><![CDATA[Royalty]]></category>
		<category><![CDATA[taxation of dividends]]></category>

		<guid isPermaLink="false">http://taxguru.in/?p=684</guid>
		<description><![CDATA[A Double Taxation Avoidance Agreement was signed between India and Tajikistan today, i.e. 20th November, 2008. The Agreement was signed by Mr. Narendra Bahadur Singh,Chairman, Central Board of Direct Taxes on behalf of Government of India and by Mr. Norinov Jamshed Nurmahmadovich, Deputy Minister of Finance of the Republic of Tajikistan on behalf of the Government of Tajikistan.]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Government Plans Interest Sops To Ease Home Loans</title>
		<link>http://taxguru.in/finance/government-plans-interest-sops-to-ease-home-loans.html</link>
		<comments>http://taxguru.in/finance/government-plans-interest-sops-to-ease-home-loans.html#comments</comments>
		<pubDate>Sat, 29 Nov 2008 05:38:00 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Finance]]></category>
		<category><![CDATA[banks in india]]></category>
		<category><![CDATA[credit worthiness]]></category>
		<category><![CDATA[Home Loan]]></category>
		<category><![CDATA[housing loans]]></category>
		<category><![CDATA[housing project]]></category>
		<category><![CDATA[india credit]]></category>
		<category><![CDATA[Interest]]></category>
		<category><![CDATA[interest subsidy]]></category>
		<category><![CDATA[prime lending rate]]></category>

		<guid isPermaLink="false">http://taxguru.in/?p=707</guid>
		<description><![CDATA[The proposal will also include providing loans at below market rates to real estate developers. But the loan disbursed under this will come with a number of conditions like an upper ceiling on selling price of flats and individual homes.The government is considering a proposal to make home loans cheaper for consumers through interest subsidy, aiming to stimulate demand in the realty sector which has a spin-off effect on many industries like cement and steel, said a senior government official, who declined to be named. ]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>I-T Dept Chalks Out Strategy To Keep Tabs On Direct Tax Mop-Up</title>
		<link>http://taxguru.in/income-tax/i-t-dept-chalks-out-strategy-to-keep-tabs-on-direct-tax-mop-up.html</link>
		<comments>http://taxguru.in/income-tax/i-t-dept-chalks-out-strategy-to-keep-tabs-on-direct-tax-mop-up.html#comments</comments>
		<pubDate>Thu, 20 Nov 2008 06:21:00 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Income Tax]]></category>
		<category><![CDATA[department]]></category>
		<category><![CDATA[evasion]]></category>
		<category><![CDATA[Finance]]></category>
		<category><![CDATA[first installment]]></category>
		<category><![CDATA[Income tax department]]></category>
		<category><![CDATA[Interest]]></category>
		<category><![CDATA[IT]]></category>
		<category><![CDATA[Others]]></category>
		<category><![CDATA[penal interest]]></category>
		<category><![CDATA[tax]]></category>
		<category><![CDATA[tax collections]]></category>

		<guid isPermaLink="false">http://taxguru.in/?p=679</guid>
		<description><![CDATA[Tightening its belts, the income tax department has chalked out an intensive strategy on collections in the backdrop of slowing economy. Though, direct tax collections have been buoyant so far, the department is not taking any chances as the deadline for payment of the third installment of advance tax is drawing near.A meeting of senior level field officials of income tax department on Wednesday, that was called specially at the behest of revenue secretary PV Bhide, took stock of the state of collections and the strategy for the rest of fiscal.]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Supreme Court on Avoidance of Payment of Tax</title>
		<link>http://taxguru.in/income-tax-case-laws/supreme-court-on-avoidance-of-payment-of-tax.html</link>
		<comments>http://taxguru.in/income-tax-case-laws/supreme-court-on-avoidance-of-payment-of-tax.html#comments</comments>
		<pubDate>Wed, 29 Oct 2008 14:12:00 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Income Tax Case Laws]]></category>
		<category><![CDATA[accrued interest]]></category>
		<category><![CDATA[evasion]]></category>
		<category><![CDATA[genuine nature]]></category>
		<category><![CDATA[genuineness]]></category>
		<category><![CDATA[income]]></category>
		<category><![CDATA[Interest]]></category>
		<category><![CDATA[judgment]]></category>
		<category><![CDATA[mercantile system]]></category>
		<category><![CDATA[sarabhai]]></category>
		<category><![CDATA[terms of contract]]></category>
		<category><![CDATA[tribunal]]></category>

		<guid isPermaLink="false">http://kanoisandeep.wordpress.com/2008/10/29/supreme-court-on-avoidance-of-payment-of-tax/</guid>
		<description><![CDATA[CIT v. Sarabhai Holdings Pvt. Ltd. . We agree with the High Court's finding that the law permits the contracting parties to lawfully change their stipulations by mutual agreement and, therefore, the assessee and the vendee had no legal impediment in modifying the terms of their contract. We also agree with the further finding of the High Court that the Resolution could not be given any retrospective effect so as to facilitate evasion of tax liability that had already arisen for the Assessment Year 1979-80. We further agree with the High Court's finding that it being a valid stipulation, changed the mode of payment from the date of the Resolution and, therefore, under the changed mode of payment adopted under the Resolution dt. 30.6.1978, no interest was to accrue during the Accounting period from 1.7.1978 up to 30.6.1979 and, therefore, the reasoning of the Tribunal on that count appeared to be correct as regards the Assessment Year 1980-81 is concerned. ]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Determination of Arm’s Length Price (Alp) &#8211; Applicability of Proviso to Section 92C(2) of  IT Act, 1961 Ratio Decidendi</title>
		<link>http://taxguru.in/income-tax/determination-of-arm%e2%80%99s-length-price-alp-applicability-of-proviso-to-section-92c2-of-it-act-1961-ratio-decidendi.html</link>
		<comments>http://taxguru.in/income-tax/determination-of-arm%e2%80%99s-length-price-alp-applicability-of-proviso-to-section-92c2-of-it-act-1961-ratio-decidendi.html#comments</comments>
		<pubDate>Sat, 11 Oct 2008 06:06:00 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Income Tax]]></category>
		<category><![CDATA[accountability]]></category>
		<category><![CDATA[accountants]]></category>
		<category><![CDATA[advertisements]]></category>
		<category><![CDATA[ARM’S LENGTH PRICE]]></category>
		<category><![CDATA[benefit]]></category>
		<category><![CDATA[CBDT]]></category>
		<category><![CDATA[customs]]></category>
		<category><![CDATA[Deduction]]></category>
		<category><![CDATA[Examinations]]></category>
		<category><![CDATA[Finance]]></category>
		<category><![CDATA[Interest]]></category>
		<category><![CDATA[office]]></category>
		<category><![CDATA[proceedings]]></category>
		<category><![CDATA[Transfer Pricing]]></category>

		<guid isPermaLink="false">http://kanoisandeep.wordpress.com/2008/10/11/determination-of-arm%e2%80%99s-length-price-alp-applicability-of-proviso-to-section-92c2-of-it-act-1961-ratio-decidendi/</guid>
		<description><![CDATA[The proviso to s. 92C (2) consists of two limbs. Under the first limb, where, through the Most Appropriate Method, more than one price is determined, the arithmetic mean of such price has to be taken to be the Arm’s Length Price in relation to the international transaction. The second limb gives “an option” to the taxpayer to take Arm’s Length Price which may vary from the arithmetic mean by an amount not exceeding 5% of such arithmetic mean. This option is applicable even to cases where the taxpayer intends to challenge the Arm’s Length Price taken as arithmetic mean and determined through the Most Appropriate Method. The argument of the Revenue that where the difference is much more than 5%, then the taxpayer cannot have the benefit of the said provision, particularly where the taxpayer has not accepted such arithmetic mean, is not correct. Sony India (P) Ltd. v. DCIT]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Banks Should Display Info regarding interest rates and service charges On Website &#8211; RBI</title>
		<link>http://taxguru.in/rbi/banks-should-display-info-on-website-rbi.html</link>
		<comments>http://taxguru.in/rbi/banks-should-display-info-on-website-rbi.html#comments</comments>
		<pubDate>Mon, 15 Sep 2008 12:38:00 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[RBI]]></category>
		<category><![CDATA[central]]></category>
		<category><![CDATA[central bank]]></category>
		<category><![CDATA[customs]]></category>
		<category><![CDATA[Interest]]></category>
		<category><![CDATA[interest rates]]></category>
		<category><![CDATA[RBI Policy]]></category>
		<category><![CDATA[service charges]]></category>

		<guid isPermaLink="false">http://kanoisandeep.wordpress.com/2008/09/15/banks-should-display-info-on-website-rbi/</guid>
		<description><![CDATA[After advising banks to display information regarding interest rates and service charges on the notice board inside their all the branches, now the central bank has asked them to do the same thing on their website. For the purpose, RBI has also issued a format in which the bank should display the information on their websites. ]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Block Assessment without Satisfaction Is Void</title>
		<link>http://taxguru.in/income-tax-case-laws/block-assessment-without-satisfaction-is-void-5-member-special-bench-itat.html</link>
		<comments>http://taxguru.in/income-tax-case-laws/block-assessment-without-satisfaction-is-void-5-member-special-bench-itat.html#comments</comments>
		<pubDate>Sun, 10 Aug 2008 08:10:00 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Income Tax Case Laws]]></category>
		<category><![CDATA[Assessment]]></category>
		<category><![CDATA[assets]]></category>
		<category><![CDATA[banks]]></category>
		<category><![CDATA[bench]]></category>
		<category><![CDATA[BLOCK ASSESSMENT]]></category>
		<category><![CDATA[genuineness]]></category>
		<category><![CDATA[income]]></category>
		<category><![CDATA[initiative]]></category>
		<category><![CDATA[Interest]]></category>
		<category><![CDATA[jurisdiction]]></category>
		<category><![CDATA[proceeding]]></category>
		<category><![CDATA[proceedings]]></category>
		<category><![CDATA[satisfaction]]></category>
		<category><![CDATA[Undisclosed]]></category>

		<guid isPermaLink="false">http://kanoisandeep.wordpress.com/2008/08/10/block-assessment-without-satisfaction-is-void-5-member-special-bench-itat/</guid>
		<description><![CDATA[Manoj Aggarwal vs. DCIT - (1) Even in the case of an assessee not maintaining books of account and to whom s. 68 does not apply, addition in respect of unexplained entries in the bank book can be made; (2) Where the assessee was not provided copies of the seized documents and the delay in filing the block return was on that count, interest u/s 158BFA (1) is not leviable even though there is no exemption on that count in the statute.;]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Valuation methodology at fault not the assessee</title>
		<link>http://taxguru.in/income-tax/valuation-methodology-not-assessee-at-fault.html</link>
		<comments>http://taxguru.in/income-tax/valuation-methodology-not-assessee-at-fault.html#comments</comments>
		<pubDate>Thu, 07 Aug 2008 11:53:00 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Income Tax]]></category>
		<category><![CDATA[benefit]]></category>
		<category><![CDATA[consequences]]></category>
		<category><![CDATA[Deduction]]></category>
		<category><![CDATA[direct taxes]]></category>
		<category><![CDATA[economic times]]></category>
		<category><![CDATA[educational facility]]></category>
		<category><![CDATA[free education]]></category>
		<category><![CDATA[income tax rules]]></category>
		<category><![CDATA[Interest]]></category>
		<category><![CDATA[perquisite]]></category>
		<category><![CDATA[perquisites]]></category>
		<category><![CDATA[reliance]]></category>
		<category><![CDATA[tax tribunal]]></category>
		<category><![CDATA[taxman]]></category>
		<category><![CDATA[tribunal]]></category>
		<category><![CDATA[Valuation method]]></category>

		<guid isPermaLink="false">http://kanoisandeep.wordpress.com/2008/08/07/valuation-methodology-not-assessee-at-fault/</guid>
		<description><![CDATA[The Delhi Income-Tax Tribunal has held that valuation of perquisite determined by the assessee relying on interpretation of Taxman’s Direct Taxes Ready Reckoner, the assessee could not be deemed to be an assessee-in-default and consequently, interest under section 201(1A) could not be levied though the valuation methodology was held not justified.]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Taxpayers need not pay interest if not specified in assessment order</title>
		<link>http://taxguru.in/income-tax/taxpayers-need-not-pay-interest-if-not-specified-in-assessment-order.html</link>
		<comments>http://taxguru.in/income-tax/taxpayers-need-not-pay-interest-if-not-specified-in-assessment-order.html#comments</comments>
		<pubDate>Thu, 07 Aug 2008 11:53:00 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Income Tax]]></category>
		<category><![CDATA[appellate tribunal]]></category>
		<category><![CDATA[Assessment]]></category>
		<category><![CDATA[Computer]]></category>
		<category><![CDATA[department]]></category>
		<category><![CDATA[economic times]]></category>
		<category><![CDATA[income tax act]]></category>
		<category><![CDATA[income tax rules]]></category>
		<category><![CDATA[individual taxpayer]]></category>
		<category><![CDATA[Interest]]></category>
		<category><![CDATA[Refund]]></category>
		<category><![CDATA[tax]]></category>
		<category><![CDATA[taxpayers]]></category>

		<guid isPermaLink="false">http://kanoisandeep.wordpress.com/2008/08/07/taxpayers-need-not-pay-interest-if-not-specified-in-assessment-order/</guid>
		<description><![CDATA[Taxpayers can take advantage of the decision of the Mumbai Bench of the Income-Tax Appellate Tribunal. The tribunal, in a recent order, held that a taxpayers need not pay interest, if the assessment order does not clearly mention the quantum of interest.]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Trade Circular No. 25T of 2008 on Business Audit under MVAt dated 23/07/2008</title>
		<link>http://taxguru.in/goods-and-service-tax/trade-circular-no-25t-of-2008-on-business-audit-under-mvat-dated-23072008.html</link>
		<comments>http://taxguru.in/goods-and-service-tax/trade-circular-no-25t-of-2008-on-business-audit-under-mvat-dated-23072008.html#comments</comments>
		<pubDate>Mon, 28 Jul 2008 07:44:00 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[GST]]></category>
		<category><![CDATA[Assessment]]></category>
		<category><![CDATA[audit criteria]]></category>
		<category><![CDATA[audits]]></category>
		<category><![CDATA[books of account]]></category>
		<category><![CDATA[business audit]]></category>
		<category><![CDATA[Business Audit under MVAt]]></category>
		<category><![CDATA[clarifications]]></category>
		<category><![CDATA[discretion]]></category>
		<category><![CDATA[income]]></category>
		<category><![CDATA[Interest]]></category>
		<category><![CDATA[interviewer]]></category>
		<category><![CDATA[maharashtra]]></category>
		<category><![CDATA[MVAT]]></category>
		<category><![CDATA[Mvat Notification]]></category>
		<category><![CDATA[objections]]></category>
		<category><![CDATA[proceeding]]></category>
		<category><![CDATA[provision]]></category>
		<category><![CDATA[turnover]]></category>
		<category><![CDATA[validity]]></category>
		<category><![CDATA[Vat]]></category>
		<category><![CDATA[vat system]]></category>
		<category><![CDATA[voluntary compliance]]></category>

		<guid isPermaLink="false">http://kanoisandeep.wordpress.com/2008/07/28/trade-circular-no-25t-of-2008-on-business-audit-under-mvat-dated-23072008/</guid>
		<description><![CDATA[As expressly mentioned in Section 22, the primary object of business audit is to promote compliance with law. Business audit is a device with the Department to ascertain and ensure compliance of laws that are implemented by the Department. At a practical level, the object of audit is to ascertain the correctness of returns and to identify inadequacies in returns, if any when checked against the books of account and the circumstances of the business. If the returns are not filed then, the audit officer is expected to quantify the liability of the dealer and enforce recovery. (Trade Cir. No. 25 T of 2008)]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Gangadharan vs. CIT (Supreme Court)</title>
		<link>http://taxguru.in/income-tax-case-laws/gangadharan-vs-cit-supreme-court.html</link>
		<comments>http://taxguru.in/income-tax-case-laws/gangadharan-vs-cit-supreme-court.html#comments</comments>
		<pubDate>Wed, 23 Jul 2008 12:50:00 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Income Tax Case Laws]]></category>
		<category><![CDATA[APPEAL]]></category>
		<category><![CDATA[bench]]></category>
		<category><![CDATA[CIT]]></category>
		<category><![CDATA[establishments]]></category>
		<category><![CDATA[Interest]]></category>
		<category><![CDATA[supreme court judgements]]></category>

		<guid isPermaLink="false">http://kanoisandeep.wordpress.com/2008/07/23/gangadharan-vs-cit-supreme-court/</guid>
		<description><![CDATA[Gangadharan vs. CIT (Supreme Court) Held, by 3 judge Bench, resolving conflict of opinion amongst other benches of the SC, that: (1) merely because in some cases the revenue has not preferred appeal that does not operate as a bar for the revenue to prefer an appeal in another case where there is just cause for doing so or it is in public interest to do so or for a pronouncement by the higher Court when divergent views are expressed by the Tribunals or the High Courts.]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Amendment in Notification No. 1/2006-Service Tax, dated 1-3-2006</title>
		<link>http://taxguru.in/service-tax/amendment-in-notification-no-12006-service-tax-dated-1-3-2006.html</link>
		<comments>http://taxguru.in/service-tax/amendment-in-notification-no-12006-service-tax-dated-1-3-2006.html#comments</comments>
		<pubDate>Mon, 09 Jun 2008 13:51:00 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Service Tax]]></category>
		<category><![CDATA[department]]></category>
		<category><![CDATA[installments]]></category>
		<category><![CDATA[Interest]]></category>
		<category><![CDATA[money]]></category>
		<category><![CDATA[subscribers]]></category>

		<guid isPermaLink="false">http://kanoisandeep.wordpress.com/2008/06/09/amendment-in-notification-no-12006-service-tax-dated-1-3-2006/</guid>
		<description><![CDATA[NOTIFICATION NO. 27/2008-SERVICE TAX, DATED 27-5-2008 In exercise of the powers conferred by sub-section (1) of section 93 of the Finance Act, 1994 (32 of 1994), the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby makes the following further amendment in the notification of the Government [...]]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>GUIDELINES FOR ADVERTISEMENT FOR THE MEMBERS IN PRACTICE</title>
		<link>http://taxguru.in/chartered-accountant/guidelines-for-advertisement-for-the-members-in-practice.html</link>
		<comments>http://taxguru.in/chartered-accountant/guidelines-for-advertisement-for-the-members-in-practice.html#comments</comments>
		<pubDate>Mon, 09 Jun 2008 13:30:00 +0000</pubDate>
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		<description><![CDATA[THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA (ICAI) (Set up under the Chartered Accountants Act, 1949) ICAI Guidelines No.1-CA(7)/ Council Guidelines/01/ 2008, Dated 14th May,2008 (Issued Pursuant to Clause (7) of Part I of the First Schedule to the Chartered Accountants Act, 1949.)   The Members may advertise through a write up setting out their [...]]]></description>
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