"03 November 2008" Archive

Notification No. 103/2008 ,Dated : 03.11.2008

Notification No. 103/2008 03/11/2008

It is hereby notified for general information that the organization M/s St. Stephen's Hospital Society, (Administration of the Synodical Board of Health Services - CNI) Tis Hazari, Delhi has been approved by the Central Government for the purpose of clause (ii ) of sub-section (1) of section 35 of the Income-tax Act, 1961...

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Public Notice No. 100 (RE-2008)/2004-2009, Dated: 03.11.2008

Public Notice No. 100 (RE-2008)/2004-2009 03/11/2008

In exercise of powers conferred under Paragraph 2.4 of the Foreign Trade Policy 2004-09, the Director General of Foreign Trade hereby makes the following amendments in Handbook of Procedures....

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Haryana Acrylic Manufacturing Company Vs. CIT (Delhi High Court) (2009) 308 ITR 38 (Del)

Haryana Acrylic Manufacturing Company Vs Commissioner of Income-tax (Delhi High Court)

Badar Durrez Ahmed, J.-This writ petition is directed against the notice dated 29-3-2004 issued by the Assistant Commissioner of Income-tax, Central Circle-18, New Delhi under section 148 of the Income-tax Act, 1961 ('said Act')...

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Tribunal Have To Follow the Principles of Natural Justice

CIT vs. Raval Tiles (Bombay High Court) Where the Tribunal did not pass an order on the appeal despite considerable delay and instead fixed the matter repeatedly for ‘clarifications’ and thereafter closed the matter for orders on the basis of written submissions and without hearing the assessee, HELD the procedure followed by the Trib...

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Posted Under: Income Tax |

Section 14A Applicable To Dividend Earned by an Assessee Engaged In the Trading Of Shares and Securities

M/s. Daga Capital Management Pvt. Ltd. Vs ITO, Mumbai (ITAT MUMBAI)] The words in relation to in s. 14A mean a dominant and immediate connection between the expenditure and the exempt income. To determine whether there is such a connection, one has to see the object with which the expenditure is incurred. If the expenditure is incurred ma...

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Posted Under: Income Tax |

ITAT Special Bench Judgment On Section 14A of the Income Tax Act, 1961

CIT vs. Sarabhai Holdings (Supreme Court) - Income Tax – Penalty – law permits the contracting parties to lawfully change their stipulations – What is material in the tax jurisprudence is the evasion of tax, not the beneficial lawful adjustment therefor . In the commercial world, the parties are always free to vary the terms of cont...

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Posted Under: Income Tax |

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