"16 January 2008" Archive

Public Notice No. 102 (RE-2007)/2004-09, Dated: 16.01.2008

Public Notice No. 102 (RE-2007)/2004-09 16/01/2008

In respect of supplies under categories mentioned in paragraphs 8.2(d), (e), (f), (g), (h), (i) & (j) of FTP, claim may be filed either on the basis of proof of supplies effected or payment received. Claims should be filed within a period of twelve months from date of receipt of supplies by project authority or from date of receipt of the...

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SC – International arbitration awards can be challenged in the Indian courts of law

The Supreme Court has ruled that international arbitration awards are not immune from challenge in the Indian courts of law. The provisions of Indian Arbitration and Conciliation Act will apply even for the international commercial arbitration's held outside the country, unless the parties, by agreement, exclude all or any of its provisio...

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Posted Under: DGFT |

Mere mention of corruption can't bring intelligence under RTI

A mere allegation of corruption not backed by credible evidence would not be sufficient to direct the country's intelligence organisations to reveal information under the RTI Act, the Central Information Commission (CIC) has held....

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Posted Under: DGFT |

Interest on deposits made compulsorily to get BG is not income;

Since excise duty and sales tax did not involve any such turnover such taxes had to be excluded. Commission, interest, rent, etc. do yield profits, but they do not partake of the character of turnover and therefore they are not includible in the total turnover. If so, excise duty and sales tax also cannot form part of the total turnover u...

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Posted Under: DGFT |

Soon pay bills, tax at e-kiosks

You may soon be able to complete all the boring government work done at a single destination.The state cabinet on Monday gave its approval to the Delhi Online project - that has been christened Jeevan - under which kiosks will be set up all over the city to provide single window facilities for a number of services relating to various depa...

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Posted Under: DGFT |

Govt vets new tax regime to tighten grip on individuals

Individuals will have to start reporting their income from all sources in due course, including tax-free income.The government is vetting a proposal to shift from an exemption to a deduction-based regime for reporting income, a government official said. This means while computing the tax outgo, an individual has to include income from all...

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Posted Under: DGFT |

Surcharge leviable under Finance Act was a distinct charge, not dependent for its leviability on assessee's liability to pay income tax : SC

: ON 17.1.2001 a search under Section 132 of the 1961 Act was carried out at the premises of the respondent-assessee, an individual. The search unearthed an unexplained investment of Rs. 65,000/- being the value of household valuables and Rs. 97,427/- on account of unexplained marriage expenses (undisclosed income). ...

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Posted Under: DGFT |

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